Quotes About Economics

As Maynard Keynes famously observed: "If I owe you a pound, I have a problem, but if I owe you a million, the problem is yours.

Yet Zhongguancun pales when measured against India's Bangalore, where government-sponsored development efforts started at about the same time. Today Bangalore produces original product, which domestic companies in Zhongguancun have not yet mastered, and Zhongguancun's output badly trails Bangalore's. That's just a reflection of something fundamental: "modern" China cannot keep up with "backward" India when it comes to information technology.

God forbid that India should ever take to industrialism after the manner of the West. The economic imperialism of a single tiny island kingdom (England) is today keeping the world in chains. If an entire nation of 300 millions took to similar economic exploitation, it would strip the world bare like locusts.

What is bought is cheaper than a gift.

You can no more make water run up hill than can you cause the tide of economic evolution to flow back in its channel along the way it came.

Labor takes its share in wages; capital takes its share in profits.

No os habéis preocupado jamás por saber lo que será de vosotros cuando los mismos consorcios se fusionen en el trust de los trusts, en una organización a un tiempo social, económica y política.

We are a down-trodden race." "You are a down-trodden race because you are lazy," said Chilke. "If I am lazy and you are not, how is it that I am carrying your baggage while you walk light-foot?" For a moment or two Chilke deigned no explanation of the seeming paradox; then he said: "If you knew anything about the laws of economics, you would not ask such a banal question.

I studied space dynamics, in all its phases, Gaean economics, the mathematical basis of trans-dimensional propulsion. I am familiar with Handbook to the Planets and Gaean Cosmography. In short, I am not just another dilettante! I am anxious to apply my knowledge to useful purposes.

He had far more goods now than he could possibly use or distribute to his people, and he wanted to use this vast amount of new resources to stimulate trade.

Chocolate, like all other types of money, has no inherent value outside of a cultural context.

The criminals at the North make us sell our wheat and cotton to Europe at cheap prices, but will not permit us to buy our manufactures cheaply from England. No, they pass a high tariff, keep out cheap European products and force us to buy from Massachusetts and New York at extremely high prices.

And all were told repeatedly: "If the magnate is left free to accumulate his great wealth, you can be sure that some of it will sift down to you.

Singapore 92.6; Taiwan 89.7; Korea 83.3; Japan 82.1; West Germany 78.8; France 72.7; United States 70.3; Great Britain 40.4; Poland 33.3; Zaire 29.6; Chad 19.9. I have the others, but that's a sampling.

In China they used thousands of workmen where ten would suffice, because they got them cheap, and the results suffered. I concluded that the most expensive product in the world is cheap labor, because it lures you away from rational operations. You pay a man a high wage, you demand a high return, and from high returns you pick up a good profit. So ever since, I've believed in paying a man high wages, then taxing him like hell for the welfare of the state. The thing that

Take a job working for the rich shareholders of massive corporations so you can get paid less while increasing supply for the few who can have access to expensive cancer drugs, driverless cars, robots, etc. B)

In removing yourself temporarily from the situation, you reduce the supply of yourself. In basic economics, value is a function of supply and demand. When supply goes down, value goes up.

Technology, outsourcing, a growing temp staffing industry, productivity efficiencies—these have all replaced the middle class.

As of January of 2013 almost half the world lived on less than $2.5 a day, and 80% of the world lived on less than $10 a day

Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor; and if one is a member of a captive population, economically speaking, one's feet have simply been placed on the treadmill forever.

lands have been robbed of the minerals, for example, which go into the building of railways and telegraph wires and TV sets and jet airliners and guns and bombs and fleets, must attempt, at exorbitant cost, to buy their manufactured resources back—which is not even remotely possible, since they must attempt this purchase with money borrowed from their exploiters.

A Hedgehog Concept is a simple, crystalline concept that flows from deeply understanding the intersection of the following three circles: (1) what you're deeply passionate about, (2) what you can be the best in the world at, and (3) what best drives your economic engine.

Without trade the world will become what it was once—a hell where only the strongest arm and the heaviest lash was law. The meek will never inherit the earth. Aye, but at least they can be protected by law to live out their lives as they wish.

Let's compete freely. Goddam tariffs! Free trade and free seas—that's what's right!