Quotes About Economics

British currency was configured in pounds, shillings, and pence. One pound equaled twenty shillings, written as 20 s., which in turn equaled 240 pence, or 240 d. A new pound is equal to 100 pennies, with one penny equal to 2.4 of the obsolete pence.)

Far from a clamor for war, there existed a widespread, if naive, belief that war of the kind that had convulsed Europe in past centuries had become obsolete—that the economies of nations were so closely connected with one another that even if a war were to begin, it would end quickly.

You can't have understanding without empathy, and you can't have empathy without losing money.

Wars did not cease in the twentieth century, notwithstanding the growth of international trade: it was not GATT but MAD, mutually assured destruction, which prevented large-scale wars after 1945.

For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature.

A thousand years makes economics silly and a work of art endures for ever, but it is very difficult to do and now it is not fashionable.

When marriage was an economic arrangement, infidelity threatened our economic security; today marriage is a romantic arrangement and infidelity threatens our emotional security.

Our fears are informed by history and economics, by social power and stigma, by myths and nightmares. And as with other strongly held beliefs, our fears are dear to us. When we encounter information that contradicts our beliefs, as Slovic found in one of his studies, we tend to doubt the information, not ourselves.

Slavery was a tradition embedded in the culture of the South and played a key economic role there. Its economic importance was the key factor impending abolition. Nevertheless, slavery is morally reprehensible, and completely indefensible, and the fact that many Americans, including the Founding Fathers, recognized that it was wrong, in a way makes us even more responsible for the crimes committed against the African-American race.

In finance, everything that is agreeable is unsound and everything that is sound is disagreeable. Churchill

Governments create nothing and have nothing to give but what they have first taken away Ã¢â'¬â€œ you may put money in the pocket of one set of Englishmen, but it will be money taken from the pockets of another set of Englishmen, and the greater part will be spilled on the way.

Churchill loathed Communism because of the attack it made 'on the human spirit and human rights', he said in July 1920. 'My hatred of Bolshevism and Bolsheviks is not founded on their silly system of economics, or their absurd doctrine of an impossible equality. It arises from the bloody and devastating terrorism which they practise in every land into which they have broken, and by which alone their criminal regime can be maintained.

What is money made for except to spend?

As a Free Trader, he was convinced by Mayo's detailed arguments, supported by a large quantity of evidence, that far from Britain being an economic drain on India, trade had been mutually beneficial.117 The fact that almost all the richest people in India were Indian merchants or princes, not Britons, struck him as further evidence that the British were not the exploitative colonialists of other European empires in Asia and Africa.

My hatred of Bolshevism and Bolsheviks is not founded on their silly system of economics, or their absurd doctrine of an impossible equality. It arises from the bloody and devastating terrorism which they practise in every land into which they have broken, and by which alone their criminal regime can be maintained.

I realized there was no freedom without funds.

To think you can make a man richer by putting on a tax is like a man thinking that he can stand in a bucket and lift himself up by the handle.'71

a new Party will arise like perhaps the Republican Party of the United States of America Ã¢â'¬â€œ rich, materialist, and secular Ã¢â'¬â€œ whose opinions will turn on tariffs, and who will cause the lobbies to be crowded with the touts of protected industries.

You may, by the arbitrary and sterile act of Government,' he said, 'for, remember, Governments create nothing and have nothing to give but what they have first taken away Ã¢â'¬â€œ you may put money in the pocket of one set of Englishmen, but it will be money taken from the pockets of another set of Englishmen, and the greater part will be spilled on the way.'67 He

Until recently, I never realized to what degree the middle class is a moral, rather than an economic, entity, based less on status than on possessive, life-sustaining love. The moral middle class plays life by percentages, because that is the safest bet, and percentage play—in life as in tennis—is by definition conservative.

Victory should look thus: the defeated are compelled to buy goods manufactured by the victors. Why, they do it willingly, because the victors' goods are better and cheaper. The victors' currency is stronger than the currency of the defeated, and the vanquished trust it much more than their own. Do you understand me, Baron Fitz-Oesterlen? Are you beginning slowly to differentiate the victors from the vanquished? Do you comprehend whom woe actually betides?

Our fundamental economic beliefs, which we have elevated from a conviction based on observation to an unquestioned truism, is that the free market is the best of all economic systems—the freer the better. Our generation has seen the decisive victory of free-market principles over planned economies. So we stick with this belief, largely oblivious to emerging evidence that while free markets beat planned economies, there may be room for a modification that is even better.