Quotes About Economics

The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined.

Some say economics has all kinds of good tools and techniques, but it has an absence of interesting problems. I look around the world, and I see all kinds of interesting, important problems we ought to solve with the tools we have.

The tools used by economists to analyze business firms are too abstract and speculative to offer any guidance to entrepreneurs and managers in their constant struggle to bring novel products to consumers at low cost.

IBM, Microsoft, the profit they made was larger than the top four banks in China put together... But where did the money go?

Moderately priced homes might draw working families in a metro area. And having rising incomes at the top might price lower-income families out.

People at the very top of the income scale also benefited from globalization and automation. But the income of working- and middle-class people in the developed world has stagnated.

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

I may be a dreamer, but I think monetary economics should be a hot topic.

Monetary policy is one of the most difficult topics in economics. But also, I believe, a topic of absolutely crucial importance for our prosperity.

Every time the Tories get a bit of power, they rip off all the things I love... The mining industry. Milk.

Austerity and Brexit are two sides of the same coin, like the Brexit party and the Tories.

The poorer is a family, the greater is the proportion of the total outgo which must be used for food... The proportion of the outgo used for food, other things being equal, is the best measure of the material standard of living of a population.

The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be said always to be heading back to some normal level.

I think, in effect, in most of the European countries, the total marginal tax rate is over 50 percent; that's to say, add on other taxes like VAT to the income tax.

Every retailer, when they price their goods, looks at their total cost overall. When they have costs go up, they'll price their products accordingly.

The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.

Can we live without Russian gas in Europe? The answer is no. Are there any reasons to live without it? I think - and I'm not defending the interests of Total in Russia - it is a no.

The 500X and Jeep Renegade are very different cars, but they are manufactured in the same plant and share R&D, which reduces the total investment required by 1 billion euros. That is why I'm convinced that the industry needs and will see more consolidation in the future.

War used to be something you could stand on the nearby hill and watch. Now we have total war; everybody's in it. We have total economics as well. Everything affects everybody. The Malaysian currency shakes, and people around the world are seriously affected.

The Fed has become an accomplice in the support of totalitarian regimes throughout the world.

The climate crisis is both the easiest and the hardest issue we have ever faced. The easiest because we know what we must do. We must stop the emissions of greenhouse gases. The hardest because our current economics are still totally dependent on burning fossil fuels, and thereby destroying ecosystems in order to create everlasting economic growth.

Economics is the science that studies how people and societies make decisions that allow them to get the most out of their limited resources.

Adam Smith expanded on this notion by saying that a person pursing his own selfish interests may be "led by an invisible hand to promote an end which was no part of his intention.

Eventually, in the guise of preventing "hate speech," all manner of communications will be forbidden. Restrictions will undoubtedly find their way into politics, current affairs, jurisprudence, but they could plausibly be expected to stretch into the realms of philosophy, religion, education, economics, civics, and other subjects that build our fundamental character.