Quotes About Economics

example, if a fast-food restaurant that employs twenty individuals is required to pay some or all of them close to 30 percent more per hour, it must account for those dollars somewhere. The restaurant can try to sell more food, it can increase the cost of food, it can cut the hours of its employees, it can hire fewer workers, or it can lay off those currently employed.

The laws of economics, like the laws of science, are real, unlike the utopian images and empty assurances of expedient and self-aggrandizing politicians and bureaucrats. There is a point of irreversibility from which no generation and the larger society can recover.

GEORGE MASON UNIVERSITY ECONOMICS professor Dr. Walter Williams rightly describes the underlying pathology driving the nation to economic and financial ruin as a moral problem: "We've become an immoral people demanding that Congress forcibly use one American to serve the purposes of another.

For the first time in our history, the news increasingly is produced by companies outside journalism, and this new economic organization is important.

When you trick somebody into participating in a small-time fraud, it's called a 'scam.' But when the scam is so big that people have no choice but to participate, it's called 'economics.

A coat is not worth eight times as much as a hat to the community because it takes eight times as long to make it...The community is willing to devote eight times as long to the making of a coat because it will be worth eight times as much to it

Grumble as we might about Wall Street felons, we keep the banks in business by lending them our money, paying their interest on mortgages and credit cards, and amassing our savings in their IRAs and money-market accounts. Protest as we might about police killing unarmed black teenagers, white people have created segregated ghettoes by fleeing to "safe neighborhoods" where the public schools are good.

Here's where my pastoral fantasy ran aground: the pound of organic butter cost six dollars and fifty cents. The ceiling for buying my way into grace was about five bucks.

We can, each of us, work to put our own inner house in order." He viewed economics through a Buddhist lens, asserting that "the essence of civilization [is] not in a multiplication of wants but in the purification of human character.

Japan is our rival, not our enemy. Japan is a competitor... Bashing a Toyota won't make a better car.

I don't read economic forecasts. I don't read the funny papers.

There is no income tax in Russia. But there's no income.

Whole new theories of money were growing here like mushrooms: in the dark and based on bullshit.

Capitalism is a funny name which lefties give to basic freedom.

The rich hire lawyers and accountants for a reason - to pass the tax bill on to you.

Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.

The importance of money flows from it being a link between the present and the future.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

Neoliberalism isn't an economic program - it's a political program designed to produce hopelessness and kill any future alternatives.

Poverty and wealth inequality are a form of instability into the future.

Social Security's future has gotten worse, and each year we delay reform adds to the cost we are pushing off onto our children.

Unless you reduce the long-term spending burden, you cannot cut taxes in any lasting way, but can only shift the burden of taxes from the present to the future.

Economics becomes redundant if it can rationalise an exchange that sells the future of humankind.

When future historians look back on our way of curing inflation...they'll probably compare it to bloodletting in the Middle Ages.