Quotes About Economics

American influence in the world is certainly considerable, but the United States does not control, directly or indirectly, the politics and economics of other societies, as empires have always done, save for a few special cases that turn out to be the exceptions that prove the rule.

I went back to graduate school with the clear intention that what I wanted to do with my life was to improve societies, and the way to do that was to find out what made economies work the way they did or fail to work.

At a purely practical level, history is important because it provides the basic skills needed for students to go further in sociology, politics, international relations and economics. History is also an ideal discipline for almost all careers in the law, the civil service and the private sector.

I really think it is amazing that people actually buy software.

If you build a car, you can only sell it once. If you paint a fence, you only get paid for it once. If you create a piece of software that's essentially free to reproduce, you can keep getting paid over and over perpetually.

My ma is an economist. My dad is a software engineer.

Classical economics values things by seeing how much someone will pay for them. But this is where classical economics is wrong. What it fails to account for are all the 'externalities' - the services people regard as free goods: pollination services, flood protection, climate regulation, soil stabilization, carbon sequestration.

In the future, I expect to see bitcoin mining in places where electricity is free or cheap. You could put solar array in the Arizona desert attached to bitcoin miners, and instead of trying to ship that electricity all over world, you could ship Bitcoin all over the world.

Like most plutocrats, I, too, am a proud and unapologetic capitalist. I have founded, cofounded or funded over 30 companies across a range of industries. I was the first non-family investor in Amazon.com. I cofounded a company called aQuantive that we sold to Microsoft for 6.4 billion dollars. My friends and I, we own a bank.

I think caring too much about the economics starts affecting the creative aspect of the film. That is a dangerous process for a filmmaker. He should make his film without having to worry about how much it has cost or how much it will be sold for.

One of the biggest factors fueling the angst over drug prices in the U.S. is that some older medicines that should be sold cheaply as generics are still priced very high, often owing to a dwindling number of generic competitors and the rising cost of producing these drugs.

Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.

The business of a Political Economist is neither to recommend nor to dissuade, but to state general principles, which it is fatal to neglect, but neither advisable, nor perhaps practicable, to use as the sole, or even the principal, guides in the actual conduct of affairs.

Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet.

There is a moral underpinning to economics. And the kinds of questions that it asks and the kinds of solutions it proposes do seem to me to belong in a more humanistic framework.

You have to recognize what the markets are doing, what the rules and regulations are doing, and all the more reasons that we've got to find some more solutions in particular with coal.

As conservatives, we support free market principles and believe the private sector provides solutions that the government cannot.

There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.

And here's the fact: the fact is it doesn't solve the problem. First of all, if you taxed these people at 100 percent, basically next year you said, 'Look, every penny you make next year the government's going to take it from you,' it still doesn't solve the debt.

I could try to incorporate or reflect in my models what it is that an employee, manager, or entrepreneur does: to recognize that most are engaged in their work, form expectations and evolve beliefs, solve problems, and have ideas. Trying to put these people into economic models became my project.

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.

Just because there is a problem doesn't mean that we have to solve it, if the cure is going to be more expensive than the original ailment.

No one can solve an issue where there is no economic model yet.

I believe that free-market principles will solve our healthcare problems.