Quotes About Economics

The only true and sustainable prosperity is shared prosperity.

To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production.

Part of the reason for this is that much of America's inequality is the result of market distortions, with incentives directed not at creating new wealth but at taking it from others.

it's easy to get rich by getting a state asset at a deep discount.

The financial sector provides ample rewards for those who agree with them: lucrative consultancies, research grants, and the like. The documentary raises a question: Could this have influenced some economists' judgments?

My study of economics had taught me that the ideology of many conservatives was wrong; their almost religious belief in the power of markets—so great that we could largely simply rely on unfettered markets for running the economy—had no basis in theory or evidence.

The idea that people could get along fine with just markets, and no government, turned out to rest upon a version of what economists call the "compositional fallacy.

The environments that are the most hostile from the standpoint of rationality are those that are the most commercial.

It's all about the money.

Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.

A leader has to know how the system functions - not just the system of government but the whole social and economic system, including business, the unions, and the universities.

Note the profound implications of this closed-system economic paradigm, for it necessitates that the Bilderberg and similar Groups must resort to active measures to suppress the scientific development of new theories and their allied technologies that would shift the world's energy supply — and hence the financial system — to a new basis, and a basis no longer needing to be reliant upon their own monopoly financial power to create the medium of exchange and credit.

Economic absurdities are produced only when power is at stake.

Fare il comunismo prima dell'anarchia, cioè prima di avere conquistata la completa libertà politica ed economica, significherebbe (come è significato in Russia) stabilire la più esosa tirannia, tale da far rimpiangere il regime borghese, e ritornare poi (come purtroppo si ritornerà in Russia) al regime capitalistico

Le grand moyen de défense de la révolution reste toujours d'enlever aux bourgeois les moyens économiques de la domination, d'armer tout le monde (jusqu'à ce qu'on puisse amener tout le monde à jeter les armes comme des objets inutiles et dangereux) et d'intéresser à la victoire toute la grande masse de la population.

There's no silver bullet. You cannot helicopter people out of poverty.

As ek jy is, Ian, bly ek hier en geniet die son en die see en die goedkoop arbeid, maar emigreer ekonomies oorsee. "Vat

Finance as taught in universities is generally divided into three areas: (1) financial management, (2) capital markets, and (3) investments.

If we forget that the newspapers are footnotes to Scripture and not the other way around, we will finally be afraid to get out of bed in the morning. Too many of us spend far too much time with the editorial page and not nearly enough with the prophetic vision. We get our interpretation of politics and economics and morals from journalists when we should be getting only information; the meaning of the world is most accurately given to us by God's Word.

What we are after is first noticing and then participating in the way the large world of the Bible absorbs the much smaller world of our science and economics and politics that provides the so-called worldview in which we are used to working out our daily concerns.

In an age in which economists take for granted that people equate well-being with consumption, increasing numbers of people seem willing to trade certain freedoms and material comforts for a sense of immutable order and the rapture of faith.

Henry George, who proposed that profits made from a natural resource, like land or coal or oil, should be distributed equally among everyone. No individual, he argued, should build a fortune by laying claim to a collective resource. George believed that everyone was entitled to profit from their labor, but that profits made from the ownership of property should be heavily taxed. The woman who invented the Landlord's Game, Elizabeth Magie, was an advocate of that tax.

the Pigouvian tax, a tax that's added to the price of a thing because of the social cost of that thing. Like the tax on cigarettes.

Different fields notwithstanding, since their early alliance positive psychologists and happiness economists have shared the conviction that happiness was not an ill-defined or speculative construct with more than fifty shades of historical and philosophical grey, but an objective, universal concept that can be unbiasedly and accurately measured.