Quotes About Economics

For the poor, the economic is spiritual.

The laws of economic life are subject to the eternal laws of spiritual capital.

Baseball is too much of a sport to be called a business, and too much of a business to be called a sport.

Economics is about creating win-win situations. But in sports, someone loses.

The consequences of adverse economics events are typically exaggerated by the Armageddonists--a sensation-seeking herd of pundits, seers, and journalists who make a living by predicting the worst.

Politicians use economics in the same way that a drunk uses lamp-posts—for support rather than illumination. —variation on a theme of Andrew Lang (1910)

There are far more cases in which politicians knew what they wanted to do, and then just leaned on economics—sometimes very bad economics—for support.

But when Stigler was put in front of the TV cameras, lights blazing, and asked about supply-side economics, the iconoclastic economist opined that "it's a gimmick, or, if you wish, a slogan." Ouch. That didn't help Ronald Reagan. I presume it didn't help George Stigler either, who was quickly hustled off stage.

On a number of issues, a bipartisan majority of the [economics] profession would unite on the opposite side from a bipartisan majority of Congress. —Arthur Okun (1970)

John Maynard Keynes, the great British economist, died in 1946. But his ghost lives on. When economies around the world contracted sharply in late 2008 and early 2009, government officials started seeing visions of the 1930s and turned

John Maynard Keynes, the great British economist, died in 1946. But his ghost lives on. When economies around the world contracted sharply in late 2008 and early 2009, government officials started seeing visions of the 1930s and turned immediately to the teachings of Lord Keynes.

It is, but we can only help people by giving less than we take away from them. We enlarge the oasis by increasing the desert. That is the science of time and housekeeping. Some call it economics.

Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.

The strongest force in the universe is Compound Interest.

Compound interest is the most powerful force in the universe.

Hal yang paling sukar dipahami di dunia ini adalah pajak penghasilan.

It is no accident that capitalism has brought with it progress not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.

the payment of the worker is not determined by the value of his product.

Those instrumental goods which should serve to maintain the life and health of all human beings should be produced by the least possible labor of all.

Compound interest is the eighth wonder of the world. - Albert Einstein (Something just for me to keep in mind)

As political and economic freedom diminishes, sexual freedom tends compensating to increase. And the dictator (unless he needs cannon fodder and families with which to colonize empty or conquered territories) will do well to encourage that freedom. In conjunction with the freedom to daydream under the influence of dope and movies and the radio, it will help to reconcile his subjects to the servitude which is their fate.

Without economic security, the love of servitude cannot possibly come into existence

It is in the light of our beliefs about the ultimate nature of reality that we formulate our conceptions of right and wrong that we frame our conduct, not only in the relations of private life, but also in the sphere of politics and economics. So far from being irrelevant, our metaphysical beliefs are the finally determining factor in all our actions.

It is in the light of our beliefs about the ultimate nature of reality that we formulate our conceptions of right and wrong; and it is in the light of our conceptions of right and wrong that we frame our conduct, not only in the relations of private life, but also in the sphere of politics and economics. So far from being irrelevant, our metaphysical beliefs are the finally determining factor in all our actions.