Quotes About Economics

Demand may be a suitable subject for psychologists, supply may be the province of engineers or management scientists; both are beyond the scope of economics.

In economics, contingent, time- and context-bound theories

In economics, contingent, time- and context-bound theories may yield more useful explanations and predictions than timeless and universal generalizations based on ungrounded assumptions.

It's clearly a budget. It's got lots of numbers in it.

If American chemical industries are oligopolistic, British, German, French, Italian, indeed European, chemical industries are monopolistic.

Under ordinary competitive conditions, any long and serious maladjustment between supply and demand cannot last.

either on a competitive or a cartel basis.

two well-recognized economic principles. First, the firmer the monopolistic controls in a given market, the higher the prices. Second, monopoly prices are discriminatory prices. "Charging all the traffic will bear" does not mean that all the traffic will bear the same charge! In fact, it will not.

the basic principle of capitalism: that the penalties (losses) no less than the rewards (profits) of risk taking shall go to those who embark on a productive venture.

Government could avoid having opinions about so many things if it would quit subsidizing so many things.

The American wage earner and the American housewife are a lot better economists than most economists care to admit. They know that a government big enough to give you everything you want is a government big enough to take from you everything you have.

the Institute of Applied Economic and Social Research at the University of Melbourne published the results of an extensive study of international money laundering.9 The authors compared the banking systems of two hundred countries. The Vatican ranked in the top ten money laundering havens, behind Luxembourg, Switzerland, the Cayman Islands, and Liechtenstein, but ahead of Singapore.

For as labor cannot produce without the use of land, the denial of the equal right to use of land is necessarily the denial of the right of labor to its own produce.

A liberal is a man who is willing to spend somebody else's money.

Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio.

The forgotten man at the bottom of the economic pyramid.

A man is a person who will pay two dollars for a one-dollar item he wants. A woman will pay one dollar for a two-dollar item she doesn't want.

Buy old masters. They fetch a better price than old mistresses.

O God! that bread should be so dear, And flesh and blood so cheap!

So long as all the increased wealth which modern progress brings, goes but to build up great fortunes, to increase luxury, and make sharper the contest between the House of Have and the House of Want, progress is not real and cannot be permanent.

Property is theft.

All Socialism involves slavery.

The power to tax involves the power to destroy.

The art of taxation consists in so plucking the goose as to get the most feathers with the least hissing.