Quotes About Economics

One of the challenges for sub-Saharan Africa is that markets are of modest size. This makes regional integration important.

Basic Economics 101. It's the most complicated simple subject there is.

The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics.

That subject has lost its one time appeal to economists as our science has become more abstract, but my interest has even grown more intense as the questions raised by the sociology of science became more prominent.

I gradually became persuaded that the subjects, without intending to, had revealed to me a basic truth about markets that was foreign to the literature of economics.

The confounding Political Economy with the Sciences and Arts to which it is subservient, has been one of the principal obstacles to its improvement.

From the beginning of time, business has cozied up to government and gotten restrictions on competition and subsidies and stuff.

If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.

I am a free market Republican. I am against subsidies, in most cases.

Capital is taxed much less than labour; subsidies going to capital, the rich, and middle-income earners greatly exceed the benefits going to the precariat and underclass.

Subsidies should never be a permanent feature of any market. They should be introduced only to address market failure and they should be withdrawn gradually as those distortions in the market are addressed.

The less subsidy we have, the more the 'producers' take over, and the 'bottom line' becomes the raison d'etre. That's quite an unappealing landscape for artists.

Practically and commercially speaking, a dollar is not necessarily a specific thing, made of silver, or gold, or any other single metal, or substance. It is only such a quantum of market value as exists in a given piece of silver or gold.

Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.

Advertising is, actually, a simple phenomenon in terms of economics. It is merely a substitute for a personal sales force - an extension, if you will, of the merchant who cries aloud his wares.

We have a government that purposely counterfeits and debases the currencies, and I believe that the alternative would be a competition. That means that anything that wants to substitute for the American dollar should be permitted.

One thing that is clearly not maximized by free markets is equality. I am talking not about that pale substitute for equality known as equality of opportunity but about equality itself.

I grew up in the suburbs of a small town on the south coast where the only opportunity I ever got to wear anything smart was a funeral, so I had never owned a piece of clothing worth more than £40.

Red Hook is cut off from the rest of the borough by the Brooklyn Queens Expressway and has no subway access, forcing residents to rely on the bus, their feet or, for those lucky enough to afford it, a car.

Today most of the debate on the cutting edge in macroeconomics would not call itself "Keynesian" or "monetarist" or any other label relating to a school of thought. The data are considered the ruling principle, and it is considered suspect to have too strong a loyalty to any particular model about the underlying structure of the economy.

That's one reason (we'll see more reasons in the next chapter) why locavores have such a misguided philosophy. It overlooks that some parts of the world are running out of water and that trade of food—often long-distance trade—is the best or indeed the only real answer to that problem. Very often, trading across a distance solves more environmental problems than it creates.

Most of what we spend on education is dominated by government. So unlike the expenditures on apples, our educational spending is not facing a strong market test.

Compare today to the 1950s. At that time, a typical apartment in New York City rented for about $60 a month, or, adjusting for inflation, about $530 a month. Today you can't find a broom closet in the East Village for that amount. Even

Social contexts provide ubiquitous cases of the same point: If one bottle of beer costs £1, six individual bottles may cost £6, whereas a six-pack costs £5.