Quotes About Economics

Scotland and England may sometimes be rivals, but by geography, we are also neighbours. By history, allies. By economics, partners. And by fate and fortune, comrades, friends and family.

ACT and SAT each have their own parts of the country. The GRE has its lock on graduate admissions. And so, one could blame the companies, but really, economically, they have no incentive to change things very much because they're getting the business.

All businesses tend to pass costs onto customers.

As many as two out of every three Europeans who came to the colonies were debtors on arrival: they paid for their passage by becoming indentured servants.

Not passing Obamacare won't bankrupt America; passing it will.

With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets.

Wage-work is serf-work; it cannot, it must not, produce all that it could produce. And it is high time to disbelieve the legend which represents wagedom as the best incentive to productive work. If industry nowadays brings in a hundred times more than it did in the days of our grandfathers, it is due to the sudden awakening of physical and chemical sciences towards the end of last century; not to the capitalist organization of wagedom, but in spite of that organization

Our institute's agenda is relatively simple. We study the relationship between social-economic change and culture. By culture we mean beliefs, values and lifestyles. We cover a broad range of issues, and we work very internationally.

If the satisfaction to be derived from each successive increase in wealth is smaller than the satisfaction derived from the previous increase in wealth, then the disutility caused by a loss will always exceed the positive utility provided by a gain of equal size.

In 1738, the Papers of the Imperial Academy of Sciences in St. Petersburg carried an essay with this central theme: "the value of an item must not be based on its price, but rather on the utility that it yields.

If these devices appear in large enough numbers, it could mean the end of the electric grid that underlies industrial civilization. Homes would still be connected, but the nature of interconnection would change and economics of location would be different.

It takes twenty-one pounds of protein fed to a calf to produce a single pound of animal protein for humans. We get back less than 5 percent of what we put in.

Conventional economics is a pyramid scheme, predicated on a model of unlimited growth in a resource-limited environment; if it was a physics model, it would be perpetual motion. It's bound to break sometime.)

Turns out that when something gets cheaper, or more efficient, we just end up using so much more of the stuff that the savings disappear under a wave of increased consumption. They call it the "Jevons Paradox"

The only true test of whether a stock is "cheap" or "high" is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company's fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.

President Bill Clinton led the country into international trade agreements

Stock prices do not always reflect the true value of companies, so an investor should study a company thoroughly and really understand its business, capital, and management when deciding whether it had sufficient underlying value to make an investment for the long term worthwhile.

There are two things that create, protect, and increase a sovereign's rule—soldiers and money—both being dependent on each other. Armies need money and money is acquired by the strength of arms. If you lose one, you lose the other. Caesar

The video game business is expected to be a $68 billion industry by the end of 2012.11 Compare this with the size of the entire U.S. publishing industry, which in 2010 had net sales revenue of $27.9 billion.

Baseball is too much of a sport to be called a business, and too much of a business to be called a sport.

The irony at the base of this situation is that the gospel of the free market is just as ideological as those of communism and fascism.

The preferred measure of the wealth of nations is per capita gross domestic product (per capita GDP). Why should we focus on this dry statistic rather than on more literal measures, such as indexes of well-being, consumption, or happiness?

On est en effet dans un monde économique à l'envers : l'artiste ne peut triompher sur le terrain symbolique qu'en perdant sur le terrain économique (au moins à court terme), et inversement (au moins à long terme).

C'est encore l'argent (hérité) qui assure la liberté à l'égard de l'argent.