Quotes About Economics

History, sociology, economics, psychology et al. confirmed Joyce's view of Everyman as victim.

Compared to the customers who got only the standard sales appeal, those who were also told about the future scarcity of beef bought more than twice as much.

higher price typically reflects higher quality.

Mostrar um produto barato primeiro e depois um caro fará com que este último pareça ainda mais caro.

Presenting an inexpensive product first and following it with an expensive one will cause the expensive item to seem even more costly as a result—hardly a desirable consequence for most sales organizations.

no one should confuse income for virtue, net worth for worthiness. The underlying reality is that capitalism is not working as it should or as it can.

Don't assume that we're locked in a battle between capitalism and socialism. We already have socialism—for the very rich. Most Americans are subject to harsh capitalism.

As the economic historian Karl Polanyi recognized, those who argue for "less government" are really arguing for a different government—often one that favors them or their patrons.1

Do you recall a time when the income of a single schoolteacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family?

Wall Street's shenanigans have convinced a large portion of America that the economic game is rigged. Yet capitalism depends on trust. Without trust, people avoid even sensible economic risks. They also begin trading in gray markets and black markets. They think that if the big guys cheat in big ways, they may as well begin cheating in small ways. And when they think the game is rigged, they're easy prey for political demagogues with fast tongues and dumb ideas. Wall

The meritocratic claim that people are paid what they are worth in the market is a tautology that begs the questions of how the market is organized and whether that organization is morally and economically defensible. In truth, income and wealth increasingly depend on who has the power to set the rules of the game.

Wall Street is a casino in which high-stakes wagers are placed within a limited number of betting houses that keep a percentage of the wins for themselves and fob off losses on others, including taxpayers.

President Woodrow Wilson explained the dangerous connection between excessive economic and political power in similar terms, in his 1913 book, The New Freedom: "I do not expect to see monopoly restrain itself. If there are men in this country big enough to own the government of the United States, they are going to own it.

The idea of a "free market" separate and distinct from government has functioned as a useful cover for those who do not want the market mechanism fully exposed. They

In 1914, Henry Ford announced he was paying workers on his Model T assembly line $5 a day—three times what the typical factory employee earned at the time. The Wall Street Journal termed his action "an economic crime," but Ford knew it was a cunning business move. The higher wage turned Ford's autoworkers into customers who could afford to buy Model Ts. In two years Ford's profits more than doubled.

As the great jurist and Supreme Court justice Louis Brandeis once said, "We may have democracy or we may have great wealth concentrated in the hands of a few, but we can't have both.

The tax cuts enacted in 2001 and 2003—and extended for two years in 2010—in 2011 saved the richest 1.4 million taxpayers (the top 1 percent) more money than the rest of America's 140,890,000 taxpayers received in total income. Leading to… The fifth dot: Government budgets are squeezed.

It's scandalous that the four hundred richest Americans should pay an average of 17 percent tax on their incomes, a rate lower than that paid by many in the middle class.

In the half century spanning 1958 to 2008, the average effective tax rate of the richest 1 percent of Americans—including all deductions and tax credits—dropped from 51 percent to 26 percent.

During the same period the typical middle-class taxpayer went from paying 15 percent of income in taxes to 16 percent.

When Republicans recently charged the President with promoting 'class warfare,' he answered it was 'just math.' But it's more than math. It's a matter of morality. Republicans have posed the deepest moral question of any society: whether we're all in it together. Their answer is we're not. President Obama should proclaim, loudly and clearly, we are.

The idea of a "free market" separate and distinct from government has functioned as a useful cover for those who do not want the market mechanism fully exposed. They have had the most influence over it and would rather keep it that way. The mythology is useful precisely because it hides their power.

Yet the notion that you're paid what you're "worth" is by now so deeply ingrained in the public consciousness that many who earn very little assume it's their own fault.

The tax cuts enacted in 2001 and 2003—and extended for two years in 2010—in 2011 saved the richest 1.4 million taxpayers (the top 1 percent) more money than the rest of America's 140.89 million taxpayers received in total income.