Quotes About Economics

Many kids come out of college, they have a credit card and a diploma. They don't know how to buy a house or a car or health insurance or life insurance. They do not know basic microeconomics.

Jeremy J. Siegel

in 1950 there were 14 retired persons for every 100 workers in the United States. This ratio rose to 28 retirees per 100 workers in 2013, and by 2060 it is expected to rise to 56.

At the end of 2012, the yield on nominal bonds was about 2 percent. The only way that bonds could generate a 7.8 percent real return is if the consumer price index fell by nearly 6 percent per year over the next 30 years. Yet a deflation of this magnitude has never been sustained by any country in world history.

The amount of $1 invested in a capitalization-weighted portfolio in 1802, with reinvested dividends, would have accumulated to almost $13.5 million by the end of 2012.

By the end of 2012, the price of gold reached $1,675 per ounce, and $1 of gold bullion purchased in 1802 was worth $86.40 at the end of 2012, while the price level itself increased by a factor of 19.12.

In fact, for someone in the highest tax bracket, short-term Treasury bills have yielded a negative after-tax real return since 1871, even lower if state and local taxes are taken into account. In contrast, top-bracket taxable investors would have increased their purchasing power in stocks 288-fold over the same period.

Yet one must be aware of the political, institutional, and legal framework in which these returns were generated. The superior performance of stocks over the past two centuries might be explained by the growing dominance of nations committed to free market economics.

value stocks have actually done better than growth stocks during both bear markets and economic recessions, so it is doubtful this is the answer.

Even though the transformation of energy, in all of its various forms, is the very basis of all economic activity, only a tiny fraction of economists have even studied thermodynamics. And only a handful of individuals inside the profession have attempted to redefine economic theory and practice based on the energy laws.

Don't have any opinions. They're bad for business.

At least when I was govenor, cocaine was expensive.

All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.

capitalism is too important and complex a subject to be left to economists. Achieving a critical comprehension of it requires perspectives beyond those characteristic of modern economics. That is why this is a history not of economic ideas, but of ideas beyond the capitalist economy.

Základní rozdíl mezi bohatými a chudými spole?nostmi nepochází z vÄ›tÅ¡ího úsilí, které bohaté spole?nosti vÄ›nují práci, ani z vÄ›tÅ¡í technologické znalosti. Místo toho povstává tento rozdíl z faktu, že bohaté zemÄ› mají extenzivnÄ›jÅ¡í síÃ…Â¥ kapitálových statk? investovaných moudÃ…â"¢e z podnikatelského hlediska.

Socialismus pÃ…â"¢edstavuje osudný omyl intelektuální pýchy ?i arogance vÄ›dy.

Many kids come out of college, they have a credit card and a diploma. They don't know how to buy a house or a car or health insurance or life insurance. They do not know basic microeconomics.

I don't believe we need the government's help as much as some think we do. That belief sets me apart from the Democrats, since their way of dealing with everything is to tax and spend.

The top 1 percent now makes eighty-one times what those in the bottom half do, when you compare average earnings. For American adults on the lower half of the income ladder—some 117 million of them—earnings haven't changed since the 1970s.

Today the United States has the most unequal society of all developed nations.

Significant changes in the psychological atmosphere accompanied the economic development of capitalism. A spirit of restlessness began to pervade life toward the end of the Middle Ages. The concept of time in the modern sense began to develop. Minutes became valuable [...]. Too many holidays began to appear as a misfortune. Time was so valuable that on felt one should never spend it for any purpose which was not useful. Work became increasingly a supreme value.

Modern political democracy, if it restricts itself to the purely political sphere, cannot sufficiently counteract the results of the economic insignificance of the average individual. But purely economic concepts like socialization

La meta del socialismo era la individualidad y no la uniformidad; la liberación de las ataduras económicas, no la realización de los objetivos materiales como primordial preocupación de la vida. Su principio era que cada ser humano es un fin en sí mismo, y jamás debe de ser el medio de otro hombre.

Economists look with some apprehension to the time when we stop producing armaments, and the idea that the state should produce houses and other useful and needed things instead of weapons, easily provokes accusations of endangering freedom and individual initiative.