Quotes About Economics

7. Sooner or later you will compete with free.

La mayor parte del dinero proviene de las ventas más pequeñas».

The natural model for music and anything else where the marginal costs of manufacturing and distribution are close to zero is variable pricing.

Por primera vez en la historia, los productos de mayor éxito y los nichos están en un mismo nivel económico, simples

En una era sin limitaciones de espacio físico y otros obstáculos que dificulten la distribución, los bienes y servicios especializados pueden ser económicamente tan atractivos como los artículos generalistas.

Los costes de acceso a esos nichos están bajando notablemente.

la diferencia entre pagar unos centavos por distribuir un contenido virtual, y los dólares que requiere hacerlo con camiones, almacenes y estanterías.

Internet simplemente permite llegar a más personas con un coste más bajo, y aumentar de manera eficaz la liquidez del mercado en la larga cola.

All forms of free boil down to variations of the same thing: shifting money around from product to product, person to person, between now and later, or into nonmonetary markets and back out again. Economists call these "cross-subsidies.

Cross-subsidies are the essence of the phrase "there's no such thing as a free lunch." That means that one way or another the food must be paid for, if not by you directly then by someone else in whose interest it is to give you free food.

The idiots take over in the final days of crumbling civilizations. Idiot generals wage endless, unwinnable wars that bankrupt the nation. Idiot economists call for reducing taxes for corporation and the rich and cutting social service programs for the poor. They project economic growth on the basis of myth.

Wealth is no longer created by producing or manufacturing products. It is created by manipulating the prices of currencies, stocks, and commodities and imposing a crippling debt peonage on the public.

Nearly half of the country is now classified as poor or low-income.

It's important to produce economic development. Fundamentalism develops even faster with misery.

Long run is a misleading guide to current affairs. In the long run we are all dead.

I thought that ending Glass-Steagall was a mistake.

Those who think in Britain they can push the Brexit button and not have a bill to pay are seriously mistaken.

In my early days, I wrote my dissertation for MIT at the London School of Economics, really under James Meade, but my dissertation was five chapters on the theory of capital movement, but it didn't mention money.

Mitt Romney not only believes in the values of economic freedom. His entire life has been committed to advancing it.

I was a Mitt Romney Republican because he was pro-business.

Chemicals are really simple. You mix a couple things together and sell it for more than the materials cost.

The mobile middle class gravitates to the cities where housing is affordable.

I think anytime that you go to the extreme of any mode of economics, be it capitalism or communism, you have these feedback mechanisms that make the system turn in on itself.

A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by other banks in the system happens to be at any particular moment.