Quotes About Economics

Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.

Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

The tendency of taxation is to create a class of persons who do not labor, to take from those who do labor the produce of that labor, and to give it to those who do not labor.

Psychologists and economists love to talk about the notion of two selves: present self and future self. It's a nice way to explain the tendency to have one preference about the future, but a very different preference when the future becomes the present.

The Muslim world and its subset the countries of the Middle East have been left behind in the marathon of political, economic and human development. For that, there is a tendency to blame others as the primary cause.

There are things that I can agree with from both sides: perhaps the civil libertarian issues of the Left and also the economic freedom issues of the Right while still rejecting the big-government tendencies of both sides of the political spectrum.

Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.

The U.S. tends to export high-tech goods because we have strong comparative advantage there, and we tend to import labor-intensive and less skill-intensive goods that other countries can do more cheaply.

I think hard-core capitalism tends to commercialize everything.

Every business is there to make money, and making a record is business. This tends to be forgotten by many.

There is abundant proof that the opening of our ports always tends to raise the price of foreign corn to the price in the English market, and not to sink the price of British corn to the price in the continental market.

It will be said, however, that protection tends to destroy commerce, the civilizer of mankind. Directly the reverse, however, is the fact.

I gotta make money - it all tends to disappear in this field.

The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues.

The central bank needs to be able to make policy without short term political concerns.

You know what term you don't hear anymore? Arbitrage. The markets have gotten too efficient.

In the broad and sweeping sense which the use of the term generally implies, I am not a free-trader.

I have problems with this very extreme form of capitalism where the pendulum has swung so far in one direction, where the focus is completely on the short term, and no one is thinking about the consequences.

Teach a parrot the terms 'supply and demand' and you've got an economist.

The dynamic of globalisation in financial and economic terms, but also in geopolitical terms, confronts Europeans with a stark choice: live together, share a common destiny and count in the world; or face the prospect of disunity and decline.

Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.

The proposition is that prices reflect all available information, which in simple terms means since prices reflect all available information, there's no way to beat the market.

I don't see how a lowering of VAT helps much, in terms of stimulus. VAT is a form of sales tax. It gets paid when you spend. A stimulus should put money in your pocket before you have actually spent the money.

The chasm between rich and poor is becoming larger, and I think it's interesting terrain to talk about and expose.