Quotes About Economics

Why did so many smart people believe these laissez-fairey tales? It's a good question. Some of the blame surely goes to the excessive faith in free markets that was the elixir of the day. Some goes to economists who believed and extolled the efficient markets hypothesis—and taught it to their students, many of whom wound up as financial engineers on Wall Street.

It is an economic fact that predicting the future is most valuable when everybody things you are wrong.

It is an economic fact that predicting the future is most valuable when everybody thinks you are wrong

Those in power have made it so we have to pay simply to exist on the planet. We have to pay for a place to sleep, and we have to pay for food. If we don't, people with guns come and force us to pay. That's violent.

Socialism is Bolshevism with a shave.

Begitu seseorang mengenal konsep uang, maka ia menjadi seperti taksi yang ditancapi argometer. Mendadak ia mulai menghitung, mengukur, dan menaksir apapun yang dilewatinya

Hal Varian, the chief economist at Google, reckons that free search via Google is worth $150 billion a year to users; of course he would say that, but his calculations seem reasonable. The economist Michael Mandel has estimated that "data" or information needs to be added as a third category to the traditional distinction between goods and services.

GDP statistics and Keynesian macroeconomic policy were mutually reinforcing.

Finally—and this is the seventh familiar theme of Venezuelan socialism—there is getting rich off politics. Once again, that does not occur in Scandinavia. There is not a single politician in Norway, Sweden or Denmark who has gone from zero to $10 million—or $200 million—while largely employed in the public sector.

the high cost of living isnt so bad if you dont have to pay for it

When a man tells you that he got rich through hard work, ask him: 'Whose?

A story tells of Henry Ford's buying scrapped Ford cars and having his engineers disassemble them to see which parts failed and which were still in good shape. Engineers assumed this was done to find the weak parts and make them stronger. Nope. Ford explained that he wanted to find the parts that were still in good shape. The company could save money if they redesigned these parts to fail at the same time as the others.

Is the new generation of writers more concerned than their predecessors with politics, economics, and social class? I think that there are lowered expectations, not sthetic expectations for the work, but lowered expectations in terms of life. My generation, perhaps foolishly, expected, even demanded, that life be wonderful and magical and then tried to make it so by writing in a rather complex way. It seems now quite an eccentric demand.

that an economically rational buyer would pay for a work product before, and after, the activity is performed.

Our primary goal in product development is to make good economic choices. All proxy objectives, such as innovation, waste reduction, design for manufacturing, etc., should be viewed as secondary. They are a means to influence overall economic outcomes, never an end in themselves. In

Our primary goal in product development is to make good economic choices. All proxy objectives, such as innovation, waste reduction, design for manufacturing, etc., should be viewed as secondary. They are a means to influence overall economic outcomes, never an end in themselves.

The key idea is that product and project attributes that have economic value should be quantified using a standardized and useful unit of measure: life-cycle profit impact.

I know what it takes to balance budgets. I have done it my entire life.

Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.

The lack of economic freedom could be a very major reason for loss of liberty, liberty of life.

It is, after all, only common sense to realize that, but for the fact that economic life is a process of incessant internal change, the business cycle, as we know it, would not exist.

It seems to be a law in American life that whatever enriches us anywhere except in the wallet inevitably becomes uneconomic.

I once met an economist who believed that everything was fungible for money, so I suggested he enclose himself in a large bell-jar with as much money as he wanted and see how long he lasted.

The evolution of the capitalist style of life could be easily - and perhaps most tellingly - described in terms of the genesis of the modern Lounge Suit.