Quotes About Economics

The only purpose of economic forecasts is to give astrology a better image.

Le verità lapalissiane dell'economia non hanno verità scopritori; esse sono evidenti a chiunque abbia occhi per vedere.

The rule is that financial operations do not lend themselves to innovation. What

There is nothing in economic life so willfully misunderstood as the great speculative episode. T

Under capitalism, man exploits man. Under communism, it's just the opposite.

La qualifica più comune di chi fa previsioni in campo economico consiste non già nel sapere, ma nel non sapere di non sapere. Il suo grande vantaggio è che tutte le previsioni, giusta o sbagliate che siano, vengono rapidamente dimenticate.

In the larger history of economics and finance, no year stands out as does 1929. It is, as I have elsewhere observed—like 1066, 1776, 1914, 1945, and now, perhaps, with the collapse of Communism, 1989—richly evocative in the public memory.

Basis points," or "bp," represent one hundredth of a percent, in reference to the yield, or cost of borrowing. "Area" is a term that simply means "plus or minus"; sometimes it is quantified and sometimes it is left intentionally undefined. This

This is where the capitalists got it right: they were better than the communists at learning from history, because they never bought into any single, sacrosanct, and therefore unchallengeable theory of history.

We think people can spend 35–40 years working and saving, then stop working and go on for another 20–30–40 years at the same comfort level – but with a growing percentage of retirees and a shrinking number of workers paying into the system. I'm sorry, but that's magical thinking.

Transaction costs use up resources in ways that are unrelated to the actual value of the business to be done. In the extreme, transaction costs can cause markets to be dysfunctional.

A still more extreme market malfunction occurs if the costs of transacting are so high as to swamp any potential benefits from the deal. Transaction costs can thwart exchanges that would otherwise be worthwhile. Unemployment exists, for example, not simply because there are too few jobs, but also because transaction costs in the labor market prevent some employers and job seekers from connecting with each other. A new way of doing business that lowers transaction costs can benefit everyone.

All economists should be locked up until they admit that they don't know what they're talking about.

What conservation education must build is an ethical underpinning for land economics and a universal curiosity to understand the land mechanism. Conservation may then follow.

Ever since economists revealed how much universities contribute to economic growth, politicians have paid close attention to higher education.

Climate change is not an environmental issue, but much more to do with security and economics

America ships tons of sugar cookies to Denmark and Denmark ships tons of sugar cookies to America. Wouldn't it be more efficient just to swap recipes?

The strategy behind the Kyoto Protocol has no grounding in economics or environmental policy.

hen the price of carbon reaches $100 a tonne, then it will become an economically viable business proposition to start taking COâ'' out of the atmosphere and sequestering it underground.

The best way to make every one poor is to insist on equality of wealth.

Here is my principle: Taxes shall be levied according to ability to pay. That is the only American principle.

Feminism is equality: politically; culturally; socially; economically. That's it, that simple.

The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.

The Left neither cares about prosperity nor jobs. It cares about equality