Quotes About Economics

Capital is that part of wealth which is devoted to obtaining further wealth.

Civilized countries generally adopt gold or silver or both as money.

We might as reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by utility or cost of production.

The laws of economics are to be compared with the laws of the tides, rather than with the simple and exact law of gravitation. For the actions of men are so various and uncertain, that the best statement of tendencies, which we can make in a science of human conduct, must needs be inexact and faulty.

The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.

Turning a market into a commodity market helps make it really thick, because any buyer can buy from any seller, and any seller can sell to any buyer.

market that can operate freely is like a wheel that can turn freely: it needs an axle and well-oiled bearings. How to provide that axle and keep those bearings well oiled is what market design is about.

But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.

Every dollar cut from the price of oil weakens the enemies of freedom and strengthens America.

Under Ronald Reagan in the United States and Margaret Thatcher in the U.K., there was a rewriting of the basic rules of capitalism. These two governments changed the rules governing labour bargaining, weakening trade unions, and they weakened anti-trust enforcement, allowing more monopolies to be created.

A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.

Plutocrats were the chief beneficiaries of so-called neoliberalism and the suite of political changes it brought beginning in the late 1970s - deregulation, weaker protection for unions, the shareholder value movement, and the subsequent inflation of executive compensation.

The most powerful forces in economics are not numbers or facts. They are prejudices and preferences. No amount of evidence will ever change the degree to which many of the rich and powerful prefer themselves to be richer and more powerful and others poorer and weaker.

I have a weakness for treating people's economic interests as their only interest, ignoring things like belonging and pride and the desire to send a message to those who ignore you.

I have dedicated many years to economic study, up to the Ph.D. level, to analyze and understand the inherent weaknesses of aid and why aid policies have consistently failed to deliver on economic growth and poverty alleviation.

In the late 1960s, the New Classical economists saw the same weaknesses in the microfoundations of macroeconomics that have motivated me. They hated its lack of rigor. And they sacked it.

Addressing the weaknesses of capitalism will require us, above all, to do two things: first, to take a long-term perspective, and second, to re-set the priorities of business.

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

Capital is that part of wealth which is devoted to obtaining further wealth.

Globalization in the aggregate generates wealth, no question. But it gets concentrated.

All legislative experiments in the way of making forcible distribution of the wealth produced in any country have failed.

I don't like Communism because it hands out wealth through rationing books.

Growth theory did not begin with my articles of 1956 and 1957, and it certainly did not end there. Maybe it began with 'The Wealth of Nations'; and probably even Adam Smith had predecessors.

If you review the commercial history, you will discover anyone who controls oriental trade will get hold of global wealth.