Quotes About Economics

Laissez faire, laissez passer.

I found that our Soviet espionage efforts had virtually never, or had very seldom, produced any worthwhile political or economic intelligence on the Soviet Union.

Even capitalists must surely admit, that intellectually at least, socialism is a worthy opponent. It imparts intelligence even to its adversaries.

Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.

Knowledge is the only instrument of production that is not subject to diminishing returns.

The art of taxation consists in so plucking the goose as to get the most feathers with the least hissing.

The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest amount of hissing.

Indeed, as subsequent events would show, debts, rather than deficits, make countries vulnerable in a monetary union.

Inequality is expensive for two reasons, one connected with justice and one with efficiency.

When we think about an economic problem, the first answer that occurs to us is not always the correct one.

Wealth acquired by creating value for society is not equivalent to wealth that comes from economic rents. For example, a very important factor in the increasing inequality of wealth in many countries has been the increase in real estate prices.48 But the owner of a building, unlike the inventor of a new treatment for cancer, does not create value for society.

El enfoque económico es el del «individualismo metodológico», según el cual los fenómenos colectivos son resultado de comportamientos individuales y, a su vez, afectan a estos últimos.

migrants bring economic benefits to a country, including for its workers in terms of more jobs and higher economic growth,

decisions made by economic actors (households, firms, the state) are constrained by limited information.

the 2008 crisis is a textbook case for the theory of information

The contrast between economics and medicine is striking:

Money is the seed of money, and the first guinea is sometimes more difficult to acquire than the second million.

On a personal level, all of us have to come to terms with the fact that, sooner or later, we will die. And yet today no aspect of human existence, not even the ending of it, is immune to the hegemonic pretensions of neoclassical economic thought. Not only the intellectual poverty, but also the emotional poverty, of what it has to say about death give us little reason to believe that it will be able to face up to the fact of its own mortality. 4.

In this world economics dooms itself to extinction at the same moment that it condemns politics to the same fate. 3.

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.

It was ironic—the great socialists could only survive by becoming capitalists." But

What is it that happens in an inflation? The unit of money suddenly loses its identity. The crowd it is part of starts growing and, the larger it becomes, the smaller becomes the worth of each unit. The millions one always wanted are suddenly there in one's hand, but they are no longer millions in fact, but only in name.

Everything we stand for can be expressed in terms of how we spend our money.

The final selling price of $67,000 was less than Christensen had paid to have the ship built