Quotes About Economics

I really don't understand them, the capitalists. They delude themselves. We're openly committed to consume them but they give us the means to do it.

In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge - with much uncertainty in the process, owing to the incompleteness of knowledge.

The special sphere of finance within economics is the study of allocation and deployment of economic resources, both spatially and across time, in an uncertain environment. To capture the influence and interaction of time and uncertainty effectively requires sophisticated mathematical and computational tools.

That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950.

You can't have a regime which continuously subsidizes things; as inflation rises, you keep prices of certain things unchanged.

Talking about income inequality, even if you're not on the Forbes 400 list, can make us feel uncomfortable. It feels less positive, less optimistic, to talk about how the pie is sliced than to think about how to make the pie bigger.

We should not only look at the short-term economic benefits of fossil fuels but also at the bad news for climate change. We should therefore not greet the fossil fuel age unconditionally.

To say that people would cease to come to California if they would have to pay more taxes is to underestimate the advantages of being in California - mightily.

I picked economics at the end of my undergraduate time because it seemed to be a really nice combination of theory, including mathematical theory on one hand, and things that are quite practical that you can touch and see and feel. So I picked it, and I consciously thought of it as an experiment to see if I liked it. And it worked.

After my undergraduate, I've written a thesis that was in the government department, but largely, it turned out almost an economic type of thesis. And I was very interested in that, and I wanted to go get a Ph.D. in Economics.

Underlying most arguments against the free market is a lack of belief in freedom itself.

Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.

Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.

If allowed to run free of the social system, capitalism will attempt to corrupt and undermine democracy, which is after all not a natural state.

A conveyor belt of Think Tank pundits and allied operatives poured into the TV studios, and together they built a fortress around Mrs. Thatcher's memory that was rooted in theories about economics. They did this because economics is the only language that wonks understand.

My investment advice is rooted in my understanding of economics.

My research career has been devoted to understanding human decision-making and problem-solving processes. The pursuit of this goal has led me into the fields of political science, economics, cognitive psychology, computer science and philosophy of science, among others.

'Economics for Everybody' begins with understanding God's principles for organizing His creation and what that means for us as creatures and stewards.

The simple model of a bridge is great, and you could not build a bridge without understanding it well. But if you're actually building the bridge, you need to know the site. A lot of economics is like that: When prices go up, demand is gonna go down. You can't forget that and run your economy. But it's not the only thing you need to know.

Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism.

Having a proper understanding of countries' external positions - current accounts, stock positions, and currencies - is critical to highlight policymakers' shared responsibility to tackle external imbalances before they become too risky.

The economic and political roots of the conflicts are too strong for us to pretend to create a lasting state of harmonious understanding between men.

The Hispanic community understands the American Dream and have not forgotten what they were promised - that in the U.S., a free market system, allows us all to succeed economically, achieve stability and security for your family and leave your children better off than yourselves.

China understands economics more than most countries and is usually moved to increase freedoms when the yuan is directly involved.