Quotes About Economics

Back in the thirties we were told we must collectivize the nation because the people were so poor. Now we are told we must collectivize the nation because the people are so rich.

The dominant economic approach of the last thirty years is now on its last legs. Letting the market rip and an indifference to inequality are now seen as important causes of the greatest economic crash since the 1930s.

Thomas Piketty assembles the facts to prove a central point about trickle-down economics: Doesn't work. Never did. He has cold, hard data showing how the rich keep getting richer and how the playing field is rigged against working families.

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.

Making a million dollars is the simplest thing in the world. Just find a product that sells for $2,000 and that you can buy at a cost of $1,000, and sell a thousand of them.

In 1790 we had less than eight hundred thousand slaves. Under our mild and humane administration of the system they have increased above four millions.

A consumer doesn't take anything away: he doesn't actually consume anything. Giving the same thing to a thousand consumers is not really any more expensive than giving it to just one.

The biggest container ship can carry fifteen thousand boxes. It can hold 746 million bananas, one for every European, on one ship.

Economists are coming to acknowledge that measures of national wealth and poverty in terms strictly of average income tell you little that is significant of the health or viability of a society.

In 1994 the median net worth of whites was $94,500, compared with $19,000 for people of color. By 2005 white median income increased 48% (to $140,500), compared with nonwhite median income, which increased only 31% (to $24,900).

Vishal was well ahead of his time. Only the other day I read in one of our papers that elephant dung could be converted into good quality paper. Perhaps they'll use it to make bank notes. Reserve Bank, please note.   ?

The fundamentally important issue in the design of constitutions is to enable rather than hinder economic transitions that are not well understood in advance.

We should qualify this observation to say that a constitution is more likely to last if it does not embody a misfit economic theory.

Roepke was no apologist for an abstraction called "capitalism"—a Marxist term, incidentally, foolishly pinned to themselves by numerous vainglorious champions of economic competition. He knew that the worship of Mammon is damnable.

I'd like to talk about free markets. Information in the computer age is the last genuine free market left on earth except those free markets where indigenous people are still surviving. And that's basically becoming limited.

Under capitalism, man oppresses man. But under socialism, it's the other way around.

Welcome to the wonderful world of economics. Everything precious in life has a cost.

rasialisme telah mengaburkan kesamaan itu dan menumpulkan contohnya, sehingga bukan hanya mengalihkan perhatian dari struktur dasar ekonomi Afrika Selatan, melainkan juga menyembunyikan intensitas eksploitasi dan laju akumulasi kekayaan secara berlebihan yang memedulikan kesejahteraan manusia

The mid-nineteenth century was the heyday of laissezfaire economics, which taught that the free market would solve all problems and that the government should never intervene. Unfortunately, that approach led to tragedy for the Irish population. Politicians

It's impossible for a white person to believe in capitalism and not believe in racism. You can't have capitalism without racism.

You can't have capitalism without racism.

In the Bible, the political issues—which are also religious—are about economic justice and fairness, peace and nonviolence.

Endless money forms the sinews of war.

The trickle-down theory of economics has it that it's good for rich people to get even richer because some of their wealth will trickle own, through their no doubt lavish spending, upon those who stand below them on the economic ladder. Notice that the metaphor is not that of a gushing waterfall but of a leaking tap: even the most optimistic endorsers of this concept do not picture very much real flow, as their language reveals pg. 102.