Quotes About Economics

Every time you cut programs, you take away a person who has a vested interest in high taxes and you put him on the tax rolls and make him a taxpayer. A farmer on subsidies is part welfare bum, whereas a free-market farmer is a small businessman with a gun.

Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.

Economics drive the creative, and for a long time, movies about men were just considered 'movies,' whereas movies about women were considered niche and only appealing to women. This is to an extent still true, and what it does is represent movies about women as less profitable.

Wherever socialism spread, misery followed - and still follows.

It's wherever business rules, business is going to get the politicians they want because they control the money and money controls the power.

Wherever I go - be it to school events, county fairs, town halls, or even the grocery store, my neighbors and constituents share the same serious concern. Prescription drug prices keep going up, and families across our district don't know how they can afford them.

Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode - the aftereffects of which still linger - has led many to question whether the economics profession contributes anything significant to society.

In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.

After 1960, anyone who wanted to discuss almost any aspect of U.S. public policy - from how to make cars safer to whether to abolish the draft, from how to support the housing market to whether to regulate the financial sector - had to speak economics.

Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks.

The process by which banks create money is so simple that the mind is repelled.

Advocates of capitalism are very apt to appeal to the sacred principles of liberty, which are embodied in one maxim: The fortunate must not be restrained in the exercise of tyranny over the unfortunate.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

While the miser is merely a capitalist gone mad, the capitalist is a rational miser.

The invention of money opened a new field to human avarice by giving rise to usury and the practice of lending money at interest while the owner passes a life of idleness.

While the surfeit of cheap calories that the U.S. food system has produced since the late 1970s may have taken food prices off the political agenda, this has come at a steep cost to public health.

Pirates are the very essence of profit maximising entrepreneurs described in neoclassical economics. Yet, whilst films such as 'The Pirates of the Caribbean' and 'Butch Cassidy and the Sundance Kid' have gone a long way to popularise both pirates and outlaw behaviour, the truth of the matter is that piracy is illegal, and it kills.

The failure of Socialism since 1945 is that whilst encouraging us all, the creators of wealth, to produce less through strikes, it has caused us all to demand a higher level of our own product.

A penny will not buy a penny postcard or a penny whistle or a single piece of penny candy. It will not even, if you're managing the U.S. Mint, buy a penny.

Official motto of the White House economic team: Those who can, do. Those who can't, fantasize in the classroom, fail in Washington and then return to the Ivy Tower to train the next generation of egghead economic saboteurs. Life is good for left-wing academics. Everyone else pays dearly.

What matters to me is that I do what I think is right and I see, I'm a numbers guy, that's my attitude. I know we have a debt tsunami coming, we are bankrupting this country and I'm in a position where I can actually advance ideas to prevent that from happening. That's exactly what I should be doing.

If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.

The most interesting thing about the idea of money is that it makes it possible to measure something in previous ages we couldn't be sure about, and that something is power.

What made women's labour particularly attractive to the capitalists was not only its lower price but also the greater submissiveness of women.