Quotes About Economics

In 1922, I got a small stipend from the Swedish-American Foundation and went to Cambridge, England, for a few months and thereafter to Harvard University. In the summer, Cambridge was rather empty, but I am grateful for many pleasant talks about economics with Austin Robinson who, in the summer of 1922, seemed to be about as lonely as I was.

I'd like to put together a think tank of people - economists, futurists, city planners, a few department-store people - to discuss reinventing the department store.

It doesn't take a degree in economics to know that something is wrong when it takes $30 or $40 to fill up the gas tank.

The law of supply and demand affects money just as it affects pencils and everything else. If there is very little money the money is very valuable and it will buy a great deal. But if there is a lot of money it is not so valuable and it will buy very little .

Socialism is the religion people get when they lose their religion.

And very profitable for LEK. The 'kids' were cheap. They worked long hours with no payment for overtime. We charged a lot for their work. Competitors didn't have our bottom-heavy staff structure, so couldn't imitate us economically.

All we know about the new economic world tells us that nations which train engineers will prevail over those which train lawyers. No nation has ever sued its way to greatness.

When the Right proclaims that socialism has failed, and that capitalism is the only alternative, the cultural Left has little to say in reply. For it prefers not to talk about money. Its principal enemy is a mind-set rather than a set of economic arrangements –– a way of thinking which is, supposedly, at the root of both selfishness and sadism.

Before she landed, Ms Clinton publicly downplayed the importance of human rights. At a press conference ahead of leaving, she beamingly implored the Chinese government to keep buying US debt, like a travelling saleswoman hawking a bill of goods.

You can't fool Mother Nature, and you can't fool market forces (at least not for long)

Más de un cuarto de siglo después, en su influyente libro Drugs Games (Los Juegos del Dopaje), Thomas Hunt traduciría en pocas palabras lo que era toda una obviedad: «Uebberroth había llegado a la conclusión de que el seguimiento estricto de las reglas sobre el dopaje constituía una amenaza directa a la integridad económica de los Juegos».

This is a little dirty secret of mental health economics: if you're depressed, you don't think you're worth the cost of treatment. You feel guilty enough about being unproductive and unreliable.

Wars aren't won with guns; they're won with checkbooks.

Form follows profit is the aesthetic principle of our times.

If you try to force the mingling of people who are not yet ready to mingle, and don't want to mingle, development cannot succeed economically.

What Carnegie had to know personally and what he knew better than anyone else was costs. One could not control a market, although Carnegie was a superb salesman, but one could, one had to, control costs.

Simply put: the election of Trump in many ways represented a final act of dominance by a generation about to become politically, economically, and psychologically obsolete. Take a look at the poll numbers. Without Baby Boomers, or at least, white non-college-educated Boomers, there would have been no Trump presidency.

The economics training the students receive provides enormous insights into the behavior of Econs, but at the expense of losing common-sense intuition about human nature and social interactions. Graduates no longer realize that they live in a world populated by Humans.

The proposal that the human household originated in competition over food presents a challenge to conventional thinking because it holds economics as primary and sexual relations as secondary.

In the Northeast there was $77 in circulation per inhabitant. As late as 1880, the South had a quarter of the country's population but only 10 percent of its currency.

The gold standard created what economists have called a "golden straitjacket." Debtor nations would exchange control over their monetary policy for capital mobility and stable exchange rates. Although the cost of borrowing abroad would fall, the United States would lose the ability to drive domestic interest rates below international interest rates. Gold dollars would flee abroad if interest rates elsewhere were higher.

When whiskey was supposed to be taxed at $2 a gallon and sold for $1.25 a gallon, it did not take advanced math to guess something was amiss.

Because the real worship is not one man, one vote, it's one man, one dollar. Commerce drives democracy, not vice versa.

That was smart, that was engineering: never reinvent something that you can buy down the street.