Quotes About Economics

You were probably educated in the conventional economic theories of your period which were magnificent and most ingenious, but--if you will pardon my saying so--all wrong.

Oh, Tanstaafl. Means There ain't no such thing as a free lunch. And isn't,' I added, pointing to a FREE LUNCH sign across room, 'or these drinks would cost half as much. Was reminding her that anything free costs twice as much in long run or turns out worthless.

Oh, 'tanstaafl.' Means 'There ain't no such thing as a free lunch.' And isn't," I added, pointing to a FREE LUNCH sign across room, "or these drinks would cost half as much. Was reminding her that anything free costs twice as much in long run or turns out worthless.

There is no such thing as a free lunch.

Could dump two Chinee down in one of our maria and they would get rich selling rocks to each other while raising twelve kids. Then a Hindu would sell retail stuff he got from them wholesale--below cost at a fat profit. We got along.

So what is their crime? Twofold: a) The Shipstone companies are guilty of supplying energy to the human race at prices below those of their competitors; b) They meanly and undemocratically decline to share their industrial secret of the final assembly stage of a Shipstone.

We shall drive ever forward along this line until all our citizens have above-average incomes!

Taxation is robbery based on monopoly of weapons

I have read a great deal of economic theory for over 50 years now, but have found only one economic law to which I can find NO exceptions: Where the State prevents a free market, by banning any form of goods or services, consumer demand will create a black market for those goods or services, at vastly higher prices. Can YOU think of a single exception to this law?

How about the Federal Reserve, then, which has convinced millions that the paper it prints "is" "real" "money"? Prank or fraud? Or perhaps some species of magick that only other sorcerers can understand?

I'm very interested in Marxist theory. I disagree with it, but I keep thinking about it, because some Marxist theory does seem to work.

The resistance to hearing the women at Greenham Common is not unrelated to the resistance to bizarre information we have been examining. There are economic as well as neurological reasons why Dr. Reich and Dr. Leary went to prison, while Dr. Teller, Father of the Hydrogen Bomb, is a recognized Authority on The Real Universe, rich, honored and praised throughout the Citadel.

In economics, "The Marxist model seems better to me than the Monetarist model" states a fact (about the nervous system of the speaker, if I must make the obvious even more obvious.) "Marx is true and the Monetarists are refuted" states an opinion disguised as a fact. The former encourages intelligent discussion; the latter virtually incites emotional conflict.

C.H. Douglas presented a graph to the MacMillan Commission in 1932 showing that as the interest rate rises, the suicide rate rises; as the interest rate drops, the suicide rate drops. His graph was from 1812 to 1932. Psychologists who don't think about factors like that are ignoring the context of their own science.

He simply trusted people at the bottom, like the plant managers in the Midwest—for whom economics were never abstract—and distrusted people at the top.

In the quarter century between 1979 and 2005, average after-tax income (adjusted for inflation) grew by $900 a year for the bottom fifth of American households, by $8,700 a year for the middle fifth, and by $745,000 a year for the top 1 percent of households.

Peabody believed that in the long run, American investments meant sound investments.

The obvious never moves markets; surprises almost always do.

While death isn't a sure thing anymore, taxes still are.

In the parlance of economics, Julien has said to Pari that if she cut off the supply of attention, perhaps the demands for it would cease as well.

History shows that socialism first triumphed in relatively backwards countries, not in the countries where capitalism had developed.

What's the monetary value of human civilization? Trying to answer that question proves you are a moral and practical idiot.

Efficiency was just a measurement of how fast money moved from the poor to the rich. We prefer the opposite of efficiency, which is to say, justice.

Efficiency, n. The speed and frictionlessness with which money moves from the poor to the rich.