Quotes About Economics

Critics of 'economic sciences' sometimes refer to the development of a 'pseudoscience' of economics, arguing that it uses the trappings of science, like dense mathematics, but only for show.

In many cases, water stress is more about politics, economics, behaviour and governance than absolute water scarcity. Better planning is needed, to allocate water where societal need is greatest, and to allow trade-offs between alternative uses.

I'm a capitalist by conviction and profession. I believe the best economic system is one that rewards entrepreneurship and risk-taking, maximizes customer choice, uses markets to allocate scarce resources and minimizes the regulatory burden on business.

Everything we know about human nature and about government tells us that individuals using their own money will achieve far more good for themselves and far more for others than politicians spending money they didn't have to work to earn.

Free trade is not based on utility but on justice.

You can make great money in a utility type of business by borrowing cheaply and lending sensibly but that's not what's being done.

What was a profitable business in one era can become a public utility and a recognized public good in the next.

The answer has to be sought in the material conditions of the production and utilization of cattle in India compared with the production and utilization of cattle in other parts of the world.

Since scarcity is the basic economic problem, if it does not exist then there is no reason for my economics course. Devoting time to the study of how people use limited resources to fulfill unlimited wants and needs should help us to discover how to best utilize the resources we have at our disposal.

The false prophets of Communism predict a utopian society.

Some economists seem to think that only a credentialed economist has the right to be utterly wrong about an issue of economics. Their contempt for amateurs - columnists with broad audiences, for example - would sear the lungs if inhaled.

I had the good fortune to be able to take a course with Margaret Mead. I had a fabulous art course, where it was explained to me that nothing exists in a vacuum, that everything is a result of the period in which it's done - the economics, the sociology, the politics, all sewn together. That was a very important lesson.

The mean pattern of educational and economic achievement within multi-racial countries such as Canada and the United States has increasingly been found to prove valid internationally.

No one knows anything about economics. It's the great lie of the economists. By contrast in football people might have contrasting opinions, each of which has some validity. But the economists always speak in conditionals - what a mess.

I think I have met nearly all the Laureates in Economics. Among the few I haven't met, I suppose I'd most like to meet Ronald Coase because of his legendary power to persuade his colleagues of the validity of the Coase Theorem.

If you want to invest in early-stage technologies, putting a timeframe on it does behold you to Silicon Valley economics. You've got a certain time period where you have to make the money. And you have to invest that money whether you find good companies or not.

Folks are leaving Silicon Valley, mostly because they can't afford to stay.

I don't think equality is intrinsically valuable, meaning in and of itself. I'm not against inequality... if Bill Gates gets another hundred million dollars, it's no skin off my nose.

No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.

The fundamentals of the token model are valuable and powerful. They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.

I believe that Bitcoin holds value as a form of 'good money' that is superior to any previously discovered or developed form of money.

Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree.

We need to revise our economic thinking to give full value to our natural resources. This revised economics will stabilize both the theory and the practice of free-market capitalism. It will provide business and public policy with a powerful new tool for economic development, profitability, and the promotion of the public good.

LISP programmers know the value of everything and the cost of nothing.