Quotes About Economics

It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?

Apart from medieval China, which invented both paper and printing centuries before the West, the world had never seen government paper money until the colonial government of Massachusetts emitted a fiat paper issue in 1690.

We're really going to be focused on economic growth and creating jobs, and that's really going to be a priority.

I have always looked at the world through the prism of money to some degree. If you could follow the money, it explains a lot of things, in all sorts of aspects of the world. You can look at politics through the prism of money. You can look at art through the prism of money. You can look at sports through the prism of money.

There's this idea of America that some people have to win and some have to lose, so certain things are in place to make this happen. Some people have to be the next legislators and political elites, and some have to fill the prisons and work in McDonald's. That's how America works. It's a machine which needs people up top and people down low.

You see, another reason for nationalization was that private ownership meant fragmentation.

If you go to India the roads are being built almost entirely with private sector money and by the private sector. If you look at many, many countries in Europe that's how they're doing it.

Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important.

Privatization of utilities costs would be astronomical, as would setting up a National Bank.

Keynes eliminated economic theory's ancient role as spoilsport for inflationist and statist schemes, leading a new generation of economists on to academic power and to political pelf and privilege.

If you ask an economist what's driven economic growth, it's been major advances in things that mattered - the mechanization of farming, mass manufacturing, things like that. The problem is, our society is not organized around doing that.

I produce for a low price and I sell it on my own to 80 countries.

In the sense that people who produce things and work get rewarded, statistically. You don't get rewarded precisely for your effort, but in Russia you got rewarded for being alive, but not very well rewarded.

We had to figure out how to produce books in a cost-effective way.

More customers for Canadian oil means that Canadian producers can charge more for their oil, which then means that American businesses and consumers will pay more for oil.

Producers shoot movies where the tax incentives are.

Nowadays, there are sometimes more producers than there are people in the cast, because it takes that much money to put a show on.

It is economically irrational to exclude large environmental costs from the balance sheets of the producers and the consumers. You are only kidding yourself if you export those costs on to society as a whole.

A little over 5% of the world's population produces almost 29% of the world's goods and services.

Traditionally in capitalism, when you have more cash, you can fund more activity, which produces more jobs and creates more wealth. That's basic economic theory.

It may sound crazy, but maybe there's an economic way of producing a leather-like product in the laboratory.

Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.

If China wants to spend $10 producing a product and sell it for a buck, who benefits from that? I think we do. I'm the free market guy. I think free markets work.

The goal of any farmer, after producing enough to feed his own family, has always been to find the best place to sell the year's crop.