Quotes About Economics

While economics is about how people make choice, sociology is about how they don't have any choice to make. Bertrand Russell

The science called 'economics' is based on an initial act of abstraction that consists in dissociating a particular category of practices, or a particular dimension of all practice, from the social order in which all human practice is immersed.

Do you have the same vision of where industry is going as the target of your acquisition? If visions differ, you might get together economically for a while, but then you are going to have problems.

You have kids studying master class visual arts who are pushed to make films that will be successful economically; that's what they focus on. So they work for corporate interest instead of artistic expression.

We now have the economics confirming that not only is climate action required to reduce climate risks, but that it is vital to building long-term, sustainable economic growth.

Our engagement through international economics, trade, these trade agreements, is vital and is linked to our national security. This is a lesson we learned from the '30s, it is a lesson we learned post-World War II, and it plays to our strengths.

A vendor selling coconuts on the road is a philosopher. He will have ideas on politics, economics, history, sports. This has saved India. The fact that the common Indian is a thinker is vital.

What is the effect of unlimited coinage of silver in this country? and I invite your attention to this particularly, because it is a question of vital importance.

Whether one believes or not, religion is as real a force in the life of the world as economics or politics, and it demands fair-minded attention. Even if you think the entire religious enterprise is at best misguided and at worst counterproductive, it remains vital, inspiring great good and, sometimes, great evil.

Given my earlier experience as the longest served CM of the erstwhile undivided A.P., I focused on choosing right people in the right place with clear priorities in the departments that were vital to attract large-scale investments into the state.

January is always a good month for behavioral economics: Few things illustrate self-control as vividly as New Year's resolutions. February is even better, though, because it lets us study why so many of those resolutions are broken.

Art has often been and continues to be considered transcendent. I see this as misguided and, in fact, a way of subverting the powerful voice art can be in global discussions about politics, economics, society, culture, religion and international relations.

Currency regimes in the past were always destroyed by volatility. So sooner or later, people desire a currency that is stable.

After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.

Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit.

A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

The eighteenth century discovery that, in an institutional framework that facilitates voluntary exchanges among individuals, this process generates results that might be evaluated positively, produced 'economics,' as an independent academic discipline or science.

Taxation is not charity. It is not voluntary. As we shrink the state and make government smaller, we will find that more and more people are able to take care of themselves.

After preliminary work by a number of other distinguished mathematicians and economists, game theory as a systematic theory started with von Neumann and Morgenstern's book, 'Theory of Games and Economic Behavior,' published in 1944.

No one has characterized market mechanisms better than Friedrich von Hayek.

I don't know how anyone could vote Republican. It's so obvious that their only interest is keeping the rich rich.

Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.'

Look at the political base of the Democratic Party: It is single mothers who run a household. Why? Because it's so tough economically that they look to the government for help and therefore they're going to vote.

I would vote against raising the national debt ceiling. Again, this is about mortgaging the future of unborn generations of Americans. It's a form of taxation without representation. I don't think we can do that.