Oikonomia Economics Quotes

Though it has no intrinsic value – you cannot eat or drink a dollar bill – trust in the dollar and in the wisdom of the Federal Reserve is so firm that it is shared even by Islamic fundamentalists, Mexican drug lords and North Korean tyrants. ~ Yuval Noah Harari

Another argument: The rich are job creators. They are helping the poor. If their taxes are cut, they can create more jobs. Ah, facts again. The rich actually tend to keep their money by buying prime real estate, yachts, art, and the like - things that will appreciate in value without giving back much to the economy as a whole. Moreover, the rich don't just give jobs out of the goodness of their hearts. Look at economics from the perspective of work: Working people are profit-creators. The rich only create jobs when they can get employees who can create profit for them. The poor create profit for the rich. Conservatives ~ George Lakoff

Economic activity is carried out by individuals in organisations that require a high degree of social co-operation ~ Francis Fukuyama

The department of home economics was organized to train a woman in efficiency and to develop her outlook to life. Such a department is a necessity as a means of developing a society. It stands for the evolution of women's work and place. ~ Liberty Hyde Bailey

In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again. ~ John Maynard Keynes

Economics has never been a science - and it is even less now than a few years ago. ~ Paul Samuelson

My background is economics and maths. I think one of the reasons I studied humanities at all, or even went into journalism, is because, like, science and maths wasn't cool in England when I was growing up. No one ever talked to the engineering students at Oxford. ~ Nick Denton

It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless. ~ Ludwig Von Mises

The eighteenth century discovery that, in an institutional framework that facilitates voluntary exchanges among individuals, this process generates results that might be evaluated positively, produced 'economics,' as an independent academic discipline or science. ~ James M. Buchanan

Though a simple book can be written on selected topics, the central doctrines of economics are not simple and cannot be made so. ~ Alfred Marshall

The Profit function: Individual profits cause collective growth and prosperity. It is necessary for individual people and businesses to profit in a Permaculture Economy where justice is maintained and fairly applied. Profits are earned when efficiency is mastered. With profits, individuals invest in (a) new and innovative means of production which will allow more profits, or (b) buying products and services from other individuals who are also seeking profit by providing value.

Profits also incentivize individuals to be productive participants in society to begin with. If there will be no profit in an activity, business or industry, then individuals will decline participation in that activity, business or industry. Since profits are only possible when buyers are satisfied with the productivity of sellers, then it is also true that an individuals willingness to participate in an activity, business or industry is preceded by the buyers satisfaction which allows the seller to profit. But when buyers are dissatisfied and decline participation, it forces sellers to decline participation. Inversely, if profits are eradicated through the force of price-controls by the government, then sellers will decline participation which then causes buyers to decline participation. And when both sellers and buyers decline participation, then whole industries and economies collapse. ~ Hendrith Vanlon Smith Jr

Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx. ~ Joan Robinson

I founded Atari in my garage in Santa Clara while at Stanford. When I was in school, I took a lot of business classes. I was really fascinated by economics. You end up having to be a marketeer, finance maven and a little bit of a technologist in order to get a business going. ~ Nolan Bushnell

The strategy behind the Kyoto Protocol has no grounding in economics or environmental policy. ~ William Nordhaus

Any time people create a "black market" to avoid government regulation, they are engaged in, and promoting, free market economics. ~ Dave Champion

Psychology looks at people from the inside. Economics looks at them from the outside. ~ John Lanchester

Human Nature is not a problem that can be fixed by rules and regulations. All solutions to the existing problems must be based on how people behave, not on how we think they should behave. ~ Kirk Chisholm

Only rule that ever made sense to me I learned from a history, not an economics, professor at Wharton. "Fear," he used to say, "fear is the most valuable commodity in the universe. ~ Max Brooks

If you understand the economics of emotion and live with others, for others, what you want happens without apparent effort. ~ Rashmi Bansal

And yet all the gold is in England, it is dug up from Portuguese and Spanish mines, but it flows by some occult power of attraction to the Tower of London." "Flows," Caroline repeated. "Flows, like a current." Sophie nodded. "And the English have grown so used to this that they use 'currency' as a synonym for money, as if no distinction need be observed between them. ~ Neal Stephenson

Men, like animals, naturally multiply in proportion to the means of their subsistence. ~ Adam Smith

Moreover, in the system of criminal punishment in the libertarian world, the emphasis would never be, as it is now, on "society's" jailing the criminal; the emphasis would necessarily be on compelling the criminal to make restitution to the victim of his crime. The present system, in which the victim is not recompensed but instead has to pay taxes to support the incarceration of his own attacker - would be evident nonsense in a world that focuses on the defense of property rights and therefore on the victim of crime. ~ Murray N. Rothbard

The great historian of religion Martin Marty once said every religion serves two functions: First, it is a message of personal salvation telling is how to get right with God; and second, it is a lens for interpreting the world.
Historically, evangelicals have been good at the first functions- at "saving souls". But they have not been nearly so good at helping people to interpret the world around them- at providing a set of interrelated concepts that function as a lens to give a biblical view of areas like science, politics, economics, or bioethics.
As Marty puts it, evangelicals have typically "accentuated personal piety and individual salvation, leaving men to their own devices to interpret the world around them. ~ Nancy Pearcey

As a child, I had no idea that I would end up in the film industry. My ambitions changed from wanting to join the army like my grandfather to taking up merchant navy as a career to running for India, and finally, investment banking while I was a student of economics honour. But during my college days, I began to get offers for modelling. ~ Arjun Rampal

In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics. ~ Ronald Coase

Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them. ~ Ludwig Von Mises

Economics anxiety may be even more common than the often identified 'math anxiety,' for unlike math, which has its personal uses, economics is seen as a mysterious set of forces manipulated from above. ~ Gloria Steinem

One conceit of economics is that markets as a whole can perform fairly rationally, even if many of the participants within them are irrational. But irrational behavior in the markets may result precisely because individuals are responding rationally according to their incentives. ~ Nate Silver

The way I think of it, economics and ecology occupy two intellectual silos, isolated from each other. Even when they do take each other into consideration, it's not uncommon for ecologists to spout absolute nonsense about economics, and vice versa. ~ Charles C. Mann

One should attend carefully to the fear and desperation of the powerful. They understand very well the potential reach of the "ultimate weapon," and only hope that those who seek a more free and just world will not gain the same understanding and put it effectively to use. ~ Noam Chomsky

You know and I know and economists know that trickle-down economics doesn't work. ~ Dannel Malloy

Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications. ~ James R Newman

I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out. ~ Mark Skousen

Funnily enough, the Federal Reserve produced comics about monetary policy, and there is a good comic book guide to microeconomics and macroeconomics out there. But it is not really appropriate for younger readers; it is really aimed at economics students. ~ Tim Harford

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world. ~ Ronald Coase

Study so that you are able to meet arguments of your opponents. Equip your ideology with supporting arguments. If you oppose a prevailing belief, if you criticize a great person who is considered to be an incarnation, you will find that your criticism will be answered by calling you vain and egoist. The reason for this is mental ignorance. Logic and free thinking are the twin qualities that a revolutionary must inevitably possess. To say that Mahatmas, who are great, should not be criticized because they are above criticism and for this reason, whatever they say about politics, religion, economics and ethics is correct and that whatever they say will have to be accepted, whether you believe it or not, reveals a mentality which cannot lead us to progress and is clearly regressive. ~ Bhagat Singh

Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are. ~ Albert J. Nock

In my judgment, we have to avoid, at all costs, tax increases. That would be the worst possible thing to do and will make a bad economy even worse. Beyond that, targeted tax relief should be expanded upon. ~ Meg Whitman

The true test of one's commitment to liberty and private property rights doesn't come when we permit people to be free to do those voluntary things with which we agree. The true test comes when we permit people to be free to do those voluntary things with which we disagree. ~ Walter E. Williams

There is danger in speaking so generally about "liberalism," a danger that has often plagued feminist debates. "Liberalism" is not a single position but a family of positions; Kantian liberalism is profoundly different from classical Utilitarian liberalism, and both of these from the Utilitarianism currently dominant in neoclassical economics. ~ Martha C. Nussbaum