Quotes About Economics

I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions.

The exchangeable value of all commodities, rises as the difficulties of their production increase.

AI is creating tremendous economic value today.

I should like to suggest to you that the cause of all the economic troubles is that we have an economic system which tries to maintain an equality of value between two things, which it would be better to recognise from the beginning as of unequal value.

Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.

Money is not real. It is a conscious agreement on measuring value.

The product of mental labor - science - always stands far below its value, because the labor-time necessary to reproduce it has no relation at all to the labor-time required for its original production.

You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.

Assess Bitcoins? All you can do is examine the trading patterns, which do not provide a real analysis of any underlying economic value. The economics of investments are not solely based on supply and demand, and that is all that goes into Bitcoin prices.

I know the price of lettuce. You need to understand price and value. You buy the best lettuce you can at the best price you can.

The value of a dollar is social, as it is created by society.

I don't go to the beach. There is no value in going to the beach. If I did go I would probably read economics books.

When goods are exchanged between countries, they must be paid for by commodities or gold. They cannot be paid for by the notes, certificates, and checks of the purchaser's country, since these are of value only in the country of issue.

As money, Bitcoin achieves two objectives; it's both a unit of transaction as well as being a store of value. The U.S. dollar, for example, is a unit of transaction, but it is not a store of value.

It is therefore utterly false to say that Marx revokes the law of value as far as individual commodities are concerned, and maintains it in force solely for the aggregate of these commodities.

In essence, the stock market represents three separate categories of business.They are, adjusted for inflation, those with shrinking intrinsic value, those with approximately stable intrinsic value, and those with steadily growing intrinsic value.

I am a believer in Adam Smith, who says that if you look at something that really contributes value to society, and you can deliver it at a reasonable price, then society will recognise that at some point because rational behaviour will come into play.

Resources are becoming scarcer. If we want to promote new growth, we should focus on the quality of the value we are creating.

Customers don't care about rivalries between corporations, they care about getting the best value for their money.

My thesis topic was 'The value of a human life.' I asked people a question: 'Suppose you had some risk, a one in a thousand risk of dying - how much would you pay to eliminate it?'

The sheer magnitude of Speaker Pelosi's spending spree is mind boggling. Most of us do not use the number 1,000,000,000,000 in our daily lives, so it is difficult to attach tangible value to the figure.

Manufacturing value chains are global. Many U.S.-made goods have foreign components. Slapping on tariffs will raise prices and slow imports, but it will make us poorer and impede growth.

The general fact of surplus value, namely that the workmen does not get the full value of his labours, and that he is taken advantage of by the capitalist, is obvious.

When liberals advocate a value-added tax, conservatives should respond: Taxing consumption has merits, so we will consider it - after the 16th Amendment is repealed.