Quotes About Economics

The biggest lie of all is that capitalism is democracy. We have no way of understanding democracy outside of the market, just as we have no understanding of how to understand freedom outside of market values.

The liberals think government exists to fix what's wrong with America. They find fault with our Constitution, our economic model and our core values. We disagree with the premise of their argument. We believe there's nothing wrong with America that an extra dose of freedom won't cure.

My research, even before 1972, moved in directions beyond those cited for the Nobel Memorial Prize. Most of it, in one way or another, deals with information as an economic variable, both as to its production and as to its use.

When you talk about the economic process of a society, sometimes we separate it into two stories. One is about monetary variables. But then, we very often assume the underlying arrangement, the other variable, is 'perfect competition,' which means people do whatever they are supposed to do.

For the Conservative Party to become the mouthpiece of energy monopolists is not only a political error; it is fundamentally at variance with the liberal economics they claim to espouse.

We've all heard the phrase 'equal pay for equal work.' Many of those who habitually repeat this mantra may not realize that it is simply a variation of the discredited labor theory of value (LTV), which is generally associated with Marxian economics.

We need to get rid of the 16th amendment, and return to the original system that funds government with a variety of tariffs and duties.

For a variety of reasons, I have always felt myself an outsider. I don't know how to classify myself in economics. I am a loner. I do not like groupthink, which, if anything, has become more important in economics. In addition, a lot of the values I hold are not the mainstream values in the profession.

The astounding variety of foods on offer in the modern supermarket obscures the fact that the actual number of species in the modern diet is shrinking. For reasons of economics, the food industry prefers to tease its myriad processed offerings from a tiny group of plant species, corn and soybeans chief among them.

A single currency entails a fixed interest rate, which means countries can't manage their own currency to suit their own needs. You need a variety of institutions to help nations for which the policies aren't well suited. Europe introduced the euro without providing those structures.

The reality is that we are all economists. We all deal with scarcity as we make choices and calculate how to ration various items and resources that we consume, produce and utilize.

When I was 26, I founded Peaceworks as a food company that brought together Israelis, Arabs, Turks, and others in conflict regions to make and sell various food products from the Middle East. That economic cooperation helped bridge divides and cultivate mutual understanding among neighbors.

A concern that produces its own raw materials, and works them up through the various processes until it delivers the manufactured product in the domestic or foreign market, can work on a narrower margin all around, and yet do full justice to its stockholders and employees.

Here we were talking about economic development, about investing billions of dollars in various programs, and I could see it wasn't billions of dollars people needed right away.

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles.

My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.

Discovering various economists, economic works, reading financial periodicals and keeping up on current events in geopolitics and economics around the world opened my eyes to many facets of how the extended order works.

As we have seen again and again, when Amazon doesn't get the economic conditions from suppliers that it seeks, it simply goes its own way. In the book business, that has meant publishing its own titles under the various Kindle imprints. Now it's making diapers.

In various countries around the world, assets that had previously been in the hands of governments were sold off to the private sector in the hope that this would lead to a more efficient allocation, that these assets would be put to better use.

As mathematics had been my best subject at school, my parents proposed - and I accepted - studies at the University of Lund in mathematics, statistics, and economics. The choice of the latter subject is said to be due to the fact that at the age of five years, I was very fond of calculating the cost of the various cakes my mother used to bake.

To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.

As far as income tax payments go, sources vary in their accounts, but a range of studies find that immigrants pay between $90 billion and $140 billion in Federal, State, and local taxes.

When I moved to Beijing in 2005 to write, I was accustomed to hearing the story of China's transformation told in vast, sweeping strokes - involving one fifth of humanity and great pivots of politics and economics.

The differences between Rand Paul and millennials are vast - not just on economics, but on social issues that matter to young people, too.