Quotes About Economics

Expenditure rises to meet income.

Watson knew that the lien system merely provided the shackles of the farmer's economic slavery. It was only the machinery of exploitation. How was it that cotton had fallen from a dollar a pound at the close of the War to an average of twenty cents in the 'seventies, nine cents in the 'eighties, and seven cents in the 'nineties—a level below the cost of production—and had stayed there?

Ethanol uses more energy to produce than it generates, and it deprives the Third World of corn to eat, but the politicians and the agribusiness firms benefit. And

Like fingers pointing to the moon, other diverse disciplines from anthropology to education, behavioral economics to family counseling, similarly suggest that the skillful management of attention is the sine qua non of the good life and the key to improving virtually every aspect of your experience.

This magician's trick of shifting the units of measure from money to time is the core novelty of what the philosopher Frédéric Gros calls Thoreau's "new economics," a theory that builds on the following axiom, which Thoreau establishes early in Walden: "The cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.

she was witness to a "grand unified theory" of the mind: Like fingers pointing to the moon, other diverse disciplines from anthropology to education, behavioral economics to family counseling, similarly suggest that the skillful management of attention is the sine qua non of the good life and the key to improving virtually every aspect of your experience.

Basic economic theory tells us that if you want something that's both rare and valuable, you need something rare and valuable to offer in return—this is Supply and Demand 101.

Thoreau's new economics was developed in an industrial age, but his basic insights apply just as well to our current digital context.

Collecting more taxes than is absolutely necessary is legalized robbery.

Savings, remember, is the prerequisite of investment.

economists recognize that, other things equal, cuts in tax rates reduce tax revenues in percentage terms by less than the tax-rate reductions. Similarly, tax-rate increases do not raise tax revenues by as much in percentage terms as the tax-rate increases. This is true because changes in marginal tax rates alter taxpayer behavior and thus affect taxable income.

A governance token can be implemented in many ways: with a static, an inflationary, or even a deflationary supply.

The flip side of burning is minting, which increases the number of tokens in circulation.

As the international economist Ronald Findlay argues, "slavery was an integral part of a complex intercontinental system of trade in goods and factors within which the Industrial Revolution, as we know it, emerged. Within this system of interdependence, it would make as much or as little sense to draw a

in a male-dominated world, Reich suggested, there was an "economic interest" in the continued role of women as "the provider of children for the state" and the performer of household chores without pay.

In addition to the human suffering that comes with the current way of working, the opportunity cost of the value that we could be creating is staggering—the authors believe that we are missing out on approximately $2.6 trillion of value creation per year,

In economics, as in politics, no national reservoir can stand the strain when everyone is turning on the taps and few are bothering to see that the catchments to the reservoir are working.

Greet prees at market maketh deere ware,And to greet cheep is holde at litel prys.

capitalism is not "materialistic," but "semiotic." It concerns mainly the psychological world of signs, symbols, images, and brands

So in marked contrast to infrastructure, which scales sublinearly with population size, socioeconomic quantities—the very essence of a city—scale superlinearly, thereby manifesting systematic increasing returns to scale.

Query 1. Whether there ever was, is, or will be, an industrious nation poor, or an idle rich?

Capitalism has destroyed our belief in any effective power but that of self interest backed by force.

The greatest of our evils and the worst of our crimes is poverty.

Property is organized robbery.