Quotes About Economics

I pity the man who wants a coat so cheap that the man or woman who produces the cloth will starve in the process.

Capitalism is a purely cultic religion, perhaps the most extreme that ever existed.

A religion may be discerned in capitalism--that is to say, capitalism serves essentially to allay the same anxieties, torments, and disturbances to which the so-called religions offered answers.

Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.

In economics, there can never be a "theory of everything." But I believe each attempt comes closer to a proper understanding of how markets behave.

Many economists are great believers in the idea that everything in nature is competitive and that we should set up a society which is competitive to reflect that. Anyone who cannot keep up, well, too bad.

Tax policy should reflect a country's values and address its problems.

Companies that pollute should be taxed so that a product's cost to society is reflected in the price of that product.

Capitalism cannot reform itself; it is doomed to self-destruction.

To these economic refugees, maybe we should tell them, 'We'll call you when we need you.'

Now, what produces a want of demand? A refusal to take from other countries the commodities which they produce.

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.

Progressives regard government as the white knight that protects the public from the greed of capitalists. If only.

The important desideratum is freedom of the market; a country or region will often best develop, depending on conditions of resources or the market, by concentrating on one or two items and then exchanging them for other items produced elsewhere.

The merger mania which goes on and on and on is the sign of the disappearance of competition. As we deregulate, the mergers increase, which means there's less and less competition. At the national level, at the regional level, but also at the international level.

We don't think of ourselves as a regional investment bank. We think of ourselves as merchant bankers with clients all over the country.

I don't have a shred of regret about entering the exchange-rate mechanism.

Ronald Reagan felt very great regret about the deficits to which he contributed on his watch.

The CBO is the only group that makes the weatherman's ten-day forecast look like exact science. They seem to miss their projections with extreme regularity.

When it comes to talking to your kids about economics, start early beause the progressive culture-makers are starting earlier than you think! Cartoon storylines regularly denegrate competition and other foundational principles of capitalism.

You'll have lower prices under deregulation than you will through regulation.

You've got to have free markets with limited government, with the proper amount of regulation where you don't jam entrepreneurship.

I am one who believes that the market, properly incentivized, can consistently outperform government regulation on achieving objectives.

What we should all argue for is the use of freedom rather than having a monetary system with regulation domination that is run by a cartel and the special interests - that is the kind of system we have today.