Quotes About Economics

Assets put money in your pocket, whether you work or not, and liabilities take money from your pocket.

If you aren't talking to your kids about socialism, someone else is. So use car time, dinner time, tax preparation time, and time spent together at your work or small business to teach your child about the virtues of capitalism, the system of government that has lifted more people out of poverty.

Trade is nothing else but a Commutation of Superfluities; for instance: I give mine, what I can spare, for somewhat of yours, which I want, and you can spare.

People say that globalisation has negative aspects, but I don't believe globalisation is bad. It's criticised from a western perspective, but if you put yourself in the shoes of people in the developing world, it provides an unprecedented opportunity.

The great disadvantage of getting older is to be obliged to relive the salient economic events of one's youth, with nothing learned and nothing forgotten.

Facebook, Twitter, Instagram, YouTube, and other economic and social platforms are not trying to build businesses, they are trying to build countries. Countries with laws, law enforcement, borders, and economic policy.

We are all amateur attention economists, hoarding and bartering our moments - or watching them slip away down the cracks of a thousand YouTube clips.

That's the trick of free market economic theory: it doesn't just ask you to only be selfish and not care about others. It tells you that by being selfish, you are helping others. And, in fact, by trying to directly help others, you will hurt them.

Successful businesses create jobs; that is true. But the notion that if we cut taxes enough for the very rich and for already hugely profitable businesses, then all that money will trickle down to everyone else in the form of job creation is simply false.

The benefits of globalization do not trickle down automatically. It takes politics to make sure that there is a benefit.

I think economics - and this is what I've tried to impart - has a tremendous amount of human interest in it.

A trillion here, a trillion there and pretty soon you're talking about real money.

Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.

Kids of the 1980s and 1990s have had a new, huge, financially catastrophic demand on their meager post-recession earnings, too: a trillion dollars of educational debt. About a quarter of Gen Xers who went to college took out loans to do so, compared with half of Millennials.

The immediate effect of the deficit is to make you feel good, like when you go on a trip and pay later. You feel good, and then you get a hangover. The deficit makes you feel good - until you pay later.

Surge pricing only kicks in in order to maximize the number of trips that happen and therefore reduce the number of people that are stranded.

The triumph of economic liberalization has coincided with a sharp increase in income inequality.

Capitalism might everywhere be spreading havoc, but it is also triumphant everywhere.

If we want to jack up the tax rates on the really rich, the amounts of money that would bring in are trivial compared to jacking up rates on the middle class.

The trouble with America is that when the dollar only earns 6 percent over here, then it gets restless and goes overseas to get 100 percent. Then the flag follows the dollar and the soldiers follow the flag.

Machines can do things cheaper and better. We're very used to that in banking, for example. ATM machines are better than tellers if you want a simple transaction. They're faster, they're less trouble, they're more reliable, so they put tellers out of work.

The trouble with the profit system has always been that it was highly unprofitable to most people.

The trouble with capitalism as a system is that only those who have or can get capital can make it work for them, and that leaves out damn near all of us.

I had the belief that many troubles you could observe on the European continent were due to politicians not understanding economic phenomena. Even if they had good intentions, they didn't have the skills to solve problems.