Quotes About Economics

Each year, therefore, a dollar spent on alcoholic beverages has purchased a smaller quantity.

The slaves of socialism are slaves, but they are no one's property and therefore no one's loss.

Historically, in India, the strange fact was that the equity owner was not taking as much hit as the lender. Therefore, if we restore the first principle of economics, that first the equity owner needs to take the hit and then the lender, we will get a good solution.

We ought, therefore, to lessen the price of food to our manufacturers, and place them more on a level with the manufacturers who have cheaper food, and also much lighter taxation.

The crucial point is always the own cost structure. Therefore I created a Low Cost alliance with air Berlin.

I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.

Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

The U.S. has strategic and economic interests in Southeast Asia that must be secured. Holding Indochina is essential to securing these interests. Therefore, we must hold Indochina.

You can't sell thermal power without the competitive bidding.

And this thesis is somewhat connected with general social and political observations, because it establishes the fact that the number of consumers is considerably larger than the number of producers, a fact which exercises a not inconsiderable social and political pressure.

I was initially very interested in public policy, but then after my masters at Harvard, I felt that it was important to get a better handle on the economics of it as well. I did my Ph.D. in macroeconomics, and my thesis - 'Why Is It That Some Countries Save And Others Not?' - was on savings.

I decided to go to the London School of Economics to write my thesis for MIT, under James Meade, Nobelist with Bertil Ohlin in 1977.

What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy itself. When they say we need to insulate economic policies from politics, they are in effect advocating the castration of democracy.

Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.

Commercial banks - that is, fractional reserve banks - create money out of thin air. Essentially, they do it in the same way as counterfeiters.

There's no such thing as a free lunch.

The only thing that hurts more than paying an income tax is not having to pay an income tax.

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.

So you think that money is the root of all evil. Have you ever asked what is the root of all money?

I can't think of a president who has been overburdened by a knowledge of economics.

During the Enlightenment, there were brilliant thinkers who realized that, if you assume most people are naturally selfish and you construct the market around that, sometimes it can actually work for the common good. I just think that in many cases, it went too far.

Keynes's contribution was not just to advocate spending government money in the middle of a recession. Every government had done that going back to the days of the Irish potato famine. What he gave to us was a way of thinking about the magnitude and the dimensions and so forth.

I even believed in a third way; I thought it was possible to put a human face on capitalism. But I was wrong. The only way to save the world is through socialism, but a socialism that exists within a democracy; there's no dictatorship here.

Democracy is made up of three elements. One is whether the laws support pluralistic principles. The second is whether the people take advantage of these laws. The third element is whether the peoples' wallets are thick enough to benefit from this democracy.