Quotes About Economics

It is true that Keynes's 'model' was a short-run model, but that's not because he was interested only in short-run stabilization. He wanted a full employment level of investment in the short-run, so as to get to the long-run quicker.

Smith's doctrine of self-interest did more than just turn avarice into a virtue; it turned classical virtue into a vice.

Keynes emphatically rejected socialism as an economic remedy for the ills of capitalism. Both classical economists and socialists, he often said, believed in the same 'laws of economics'. But whereas the former regarded them as true and inevitable, the latter saw them as true and intolerable. Keynes proposed to show they were not true.

Indeed, we are slowly reverting to the conditions of earlier times, when societies were divided into a small class of rentiers and a large class of servants, without, however, the hierarchical structure which made such inequality of status more palatable.

You're taxed when you earn. You're taxed when you spend. You're taxed when you save. You're taxed when you die.

The Worldly Philosophers

After The Worldly Philosophers, I recommend reading The Creature from Jekyll Island by G. Edward Griffin, Paul Zane Pilzer's Unlimited Wealth, James Dale Davidson's The Sovereign Individual, Robert Preacher's The Crest of the Wave, and Harry Dent's The Great Depression Ahead.

our wealth grows automatically, staying ahead of inflation.

Con ella podría medir y saber en dónde me encuentro en relación con mi objetivo de volverme independiente en lo económico.

accounting (financial literacy, or the ability to read numbers and evaluate the strengths and weaknesses of any business), investing (the science and strategies of money making money), understanding markets (the science of supply and demand, and market conditions), and the law (tax advantages and protections).

One dad thought that the rich should pay more in taxes to take care of those less fortunate. The other said, "Taxes punish those who produce and reward those who don't produce.

The money most people save is after-tax money." For a person to save $10, the real dollar amount earned was $20 because it is ordinary income or 50-percent money. On top of that, the interest that you earn on your savings is also subject to higher taxes.

Your profit is made when you buy, not when you sell.

The same is true in investing. The rich get richer because they pay the wholesale price rather than the retail price.

mortgage interest is a tax deduction.

1.?Loss of time, during which other assets could have grown in value.

It is this Robin Hood fantasy, or taking from the rich to give to the poor, that has caused the most pain for the poor and the middle class.

The Worldly Philosophers by Robert Heilbroner. For people who want to operate on the B and I side, his book is a must-read, for it traces the greatest economists of all time, starting with Adam Smith who wrote The Wealth of Nations.

future. After The Worldly Philosophers, I recommend reading The Creature from Jekyll Island by G. Edward Griffin, Paul Zane Pilzer's Unlimited Wealth, James Dale Davidson's The Sovereign Individual, Robert Preacher's The Crest of the Wave, and Harry Dent's The Great Depression Ahead.

It took approximately 50 years in both England and the United States to sell the idea of a regular income tax.

The Worldly Philosophers by Robert Heilbroner.

As I said, the passage of taxes was only possible because the masses believed in the Robin Hood theory of economics: Take from the rich, and give to everyone else. The problem was that the government's appetite for money was so great that taxes soon needed to be levied on the middle class, and from there it kept trickling down.

the socialists ultimately penalized themselves due to their lack of financial education.

Profits are made in the buying, not in the selling.