Quotes About Economics

The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed in standard economic theory.

It's not in my mission to work against Euroskepticism; it's my mission to work for fair markets. In antitrust, what is at stake is, in some ways, as old as Adam and Eve because it is about greed, to get more.

People don't realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but that's as far as we go. And I've had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.

We know: of course, with regard to the market and similar social structures, a great many facts which we cannot measure and on which indeed we have only some very imprecise and general information.

Class structures are a luxury that we cannot afford.

A lot of things that we cannot buy and sell in markets used to be totally legal objects of market exchange - human beings when we had slavery, child labour, human organs, and so on. So there is no economic theory that actually says that you shouldn't have slavery or child labour because all these are political, ethical judgments.

The good news is, Americans know firsthand the benefits of a free market - more choices, lower prices, higher quality - and there is no reason why we cannot help them see these same benefits in health care.

If, in our haste to 'progress,' the economics of ecology are disregarded by citizens and policy makers alike, the result will be an ugly America. We cannot afford an America where expedience tramples upon esthetics and development decisions are made with an eye only on the present.

People don't like it, but inevitably we need to think about both the costs and the benefits of health care. We cannot avoid the financial consequences.

Until we fix the deep-rooted problems of economic inequality, we cannot expect young people to experience the best childhood and adolescence.

It is already tough to buy a house. But if we are bringing a population the size of Newcastle upon Tyne into the country every single year, if we cannot set limits on the number of people that come and work in Britain, then simple maths says it is going to be even more difficult to get on to the housing ladder.

I am advocating a weak yen to a certain extent.

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

To the question how one kind of labor can be measured against another, how the labor of the artisan can be measured against the labor of the artist, how the labor of the strong can be measured against the labor of the weak, the communists can give no answer.

The fact you have to pay 50p to use the loo in some places is the root of the world's issues.

Well, capitalism is a big problem, because with capitalism you're just going to keep buying and selling things until there's nothing else to buy and sell, which means gobbling up the planet.

Historically, central planners have generally done a poor job of managing economic resources - this we've known since the time of the Pharaohs.

Under capitalism each individual engages in economic planning.

Behavioral economics offers a plausible explanation for overreactions by the market. For example, a long period of bad performance can lead to stereotyping.

It is quite plausible that the process of increased fragmentation of production across borders is subject to 'diminishing returns' and has its natural limits.

Organizations are trying to save extra money. Players are trying to get extra money. That's the way it is.

The economics of being a playwright are abysmal. I like to think of the work I do out in Hollywood as a way to actually make a life in the theater easier.

The economics of theater are painful. I still think that the theater community should be looking much more rigorously at how to let the playwright keep the money they make.

I have got no problem with used games. I've bought plenty of used games.