Quotes About Economics

the financial system is so genuinely complex and so many of the relationships within it are non-linear, even chaotic.

public expectations of inflation to shift and the demand for cash balances to fall

Pure monetary theory, however, cannot explain why in one country the inflationary process proceeds so much further or faster than in another.

Roughly two fifths of the world's population is effectively outside the financial system, without access to bank accounts, much less credit.

Niall Ferguson

Suddenly the people running Savings and Loans had nothing to lose - a clear case of what economists call moral hazard.

Only by historical methods can we explain why, over the past thirty years, so many countries created forms of debt that, by design, cannot be inflated away; and why, as a result, the next generation will be saddled for life with liabilities incurred by their parents and grandparents.

Soros regards himself as more a philosopher than a hit man. His book The Alchemy of Finance (1987) begins with a bold critique of the fundamental assumptions of economics as a subject

Inflation', wrote Milton Friedman in a famous definition, 'is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.' What

The Amsterdam Exchange Bank (Wisselbank) was set up in 1609 to resolve the practical problems created for merchants by the circulation of multiple currencies in the United Provinces, where there were no fewer than fourteen different mints and copious quantities of foreign coins.

Niall Ferguson

Very few economists foresaw the crisis, but a great many have tried retrospectively to explain it, generating a large literature of distinctly mixed quality.

Inflation', wrote Milton Friedman in a famous definition, 'is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.

From the summer of 1719 investors who wished to acquire the 'daughters' and 'granddaughters' were generously assisted by the Banque Royale, which allowed shareholders to borrow money, using their shares as collateral; money they could then invest in more shares.

They've got the usual Socialist disease — they've run out of other people's money.

When making their loans, the bankers should have thought more carefully about how easily they could call back the money - essentially a question about the liquidity of the loan.

The first is that poverty is not the result of rapacious financiers exploiting the poor. It has much more to do with the lack of financial institutions, with the absence of banks, not their presence.

Bread, cash, dosh, dough, loot, lucre, moolah, readies, the where-withal: call it what you like, money matters. To Christians, the love of it is the root of all evil. To generals, it is the sinews of war; to revolutionaries, the shackles of labour. But what exactly is money? Is it a mountain of silver, as the Spanish conquistadors thought? Or will mere clay tablets and printed paper suffice? How did we

As early as 1975 she had come up with a wonderful line about the Labour Party: "They've got the usual Socialist disease — they've run out of other people's money.

La inflación —escribía Milton Friedman en una célebre definición— es siempre y en todas partes un fenómeno monetario, en el sentido de que no puede producirse sin un incremento más rápido en la cantidad de dinero que en la producción.»

Women's empowerment helps raise economic productivity and reduce infant mortality. It contributes to improved health and nutrition. It increases the chances of education for the next generation.

Fifty-million-dollar movies gobble up the medium movies. A lot of people aren't working in Hollywood because of this.

Because of my politics, I don't necessarily think that the independent capitalist is that much better than the multinational capitalist; it's just that the independent capitalist hasn't grown as big yet.

In an economy, when the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only does it create jobs once: the investment creates jobs multiple times.