Quotes About Economics

what determines your wealth is not how much you make but how much you keep of what you make.

Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor.

So the economic benefit of higher education in arts subjects appears to be nil. In fact, it is a luxury in the sense that it costs money rather than yielding it. It is a luxury which is paid for out of general taxation, including taxation of the poor.

Influence must ever be in proportion to property; and it is right it should.

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required.

if today you sold everything you possessed and gave it to the poor, you would indeed take a huge economic hit. But you would survive. You'd collect your next paycheck.

The vice of capitalism is that it stands for the unequal sharing of blessings; whereas the virtue of socialism is that it stands for the equal sharing of misery.

Whenever socialism has been tried, it has failed.

Socialism is the philosophy of failure, the creed of ignorance and the gospel of envy.

The banker also knows that whatever rates it can get if needed for anything it need to times 3 the rates for the money loaned out

Markets always place the greatest pressures on the weakest holders.

His famous example of the pin manufacturers makes this case. Smith explains how eighteen separate operations are employed to produce pins. Because of specialized technology and the division of labor, each employee could make 4,800 times more pins in a day than an individual could fabricate on his own.

While paper money will no doubt remain in circulation as a residual medium of exchange for the poor and computer-illiterate, money for high-value transactions will be privatized.

Why not pay prime ministers and presidents even a tiny share of the gain that their policies promote?

The theory of "free banking," as it is called, is not merely a hypothetical academic speculation. Private competing currencies circulated in Scotland from early in the eighteenth century until 1844. During that period, Scotland had no central bank. There were few

Incomes will become more unequal within jurisdictions and more equal between them.

Even the best national currency of the postwar period, the German mark, lost 71 percent of its value from January 1, 1949, through the end of June 1995. In the same period, the U.S. dollar lost 84 percent of its value.9 This inflation had the same effect as a tax on all who hold the currency.

When technology is mobile, and transactions occur in cyberspace, as they increasingly will do, governments will no longer be able to charge more for their services than they are worth to the people who pay for them.

For what,' I asked, 'is wrong with a steady-state economy?' Their response could almost be described as one of shock-horror, as if I had uttered an obscenity. One of them – my friend, Sydney Epton – said, 'Jim, you must understand that without growth there would be utter chaos; the whole system of modern economics is dependent on growth.' Taken literally, sustainable development simply means growth.

Any system of economics is bankrupt if it sees either value or virtue in unemployment.

Pasaulyje, kuris tampa vis labiau kapitalistinis, vienintelis b?das garantuoti kokios nors kult?rin?s praktikos ar gamtovaizdžio išlikim? - surasti j? komercinio panaudojimo b?d?.

Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure.

I'm the result of upbringing, class, race, gender, social prejudices, and economics. So I'm a victim again. A result.