Quotes About Economics

The basic problem is with the business model of journalism. That business model is premised on the idea that talk is cheap and reporting is expensive.

Economics and ethics are not mutually exclusive.

The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial managers - that is, Wall Street.

It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.

It is the consumers who make poor people rich and rich people poor.

Publishers are businesses and I don't blame them for that. If they didn't make money by publishing books, there wouldn't be any books.

Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.

CHOAM is business and business follows profits.

Business is based on the well-known principle of supply and demand. You want something, the other man has it. The only thing left to settle is the price.

There is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system...

Whose merchants are princes.

The minute you hear subsidies, I don't care what, if it's health care, buying cars, the minute you hear subsidies, you have to understand, whatever's going on here, it isn't market forces.

Tourism is our second biggest industry in terms of the people it employs.

Slaves, like oxen and sheep, were known as 'live money'.

I read a lot of history, biographies, science, and novels,' he says, ushering a reporter out the door with a hint of relief. 'I do not read management or economics.' (from an interview in the Christian Science Monitor , July 26, 1993)

But the most important work of the executive is to identify the changes that have already happened. The important challenge in society, economics, politics, is to exploit the changes that have already occurred and to use them as opportunities. The important thing is to identify the "future that has already happened"—and to develop a methodology for perceiving and analyzing these changes. A

But a company which wants economic results has to have leadership in something of real value to a customer or market. It may be in one narrow but important aspect of the product line, it may be in its service, it may be in its distribution, or it may be in its ability to convert ideas into salable products on the market speedily and at low cost.

The entrepreneur,' said the French economist J. B. Say around 1800, 'shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.' But Say's definition does not tell us who this 'entrepreneur' is. And since Say coined the term almost two hundred years ago, there has been total confusion over the definitions of 'entrepreneur' and

German businesses

The study of econometrics revolves around how to generate a good or the preferred estimator in a given estimating situation p.5

Markets look a lot less efficient from the banks of the Hudson than from the banks of the Charles.

The prevalence of surprise in the world of business is evidence that uncertainty is more likely to prevail than mathematical probability.

The] utility resulting from any small increase in wealth will be inversely proportionate to the quantity of goods previously possessed.

Capital requires the separation of the worker from the means of production and subsistence