Quotes About Economics

Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration.

Götterdämmerung capitalism

Our current economics has not yet answered any of these questions. But why should it? Do you ask your calculator what to do with your life? No. You have to figure that out for yourself.

What's the monetary value of human civilization? Trying to answer that question proves you are a moral and practical idiot. Well, economists make such calculations all the time, but that's their job, and they think it makes sense.

Jevons Paradox proposes that increases in efficiency in the use of a resource lead to an overall increase in the use of that resource, not a decrease.

Det behöver knappast sägas att Marx tanke med en grundläggande indelning i två klasser utelämnade ett stort antal människor. ... Marx föddes i en tysk-judisk medelklassfamilj i Preussen. ... Var passade Marx själv in?

There exists no "invisible hand"—that was always an unfortunate turn of phrase—but billions of highly visible fingers, doing, purely for personal gain, what others will freely barter for, with the sole object of improving their lives and those of their children.

It may come as a surprise to some academics, but there is a marked relationship between economic power and political power.

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

The problem is a lot of what is called economics is not economics. It is more ideology or religion.

Capitalism is a purely cultic religion, perhaps the most extreme that ever existed.

Socialism is just another form of religion, and thus delusional.

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

Capitalism without failure is like religion without sin. Bankruptcies and losses concentrate the mind on prudent behavior.

Republicans are for both the man and the dollar, but in case of conflict the man before the dollar.

We aim in the domain of politics at republicanism; in the domain of economics at socialism; in the domain of what is today called religion, at atheism.

Money has no religion except itself.

Religion is the opium of the poor

Dr. King once said, "You cannot legislate goodness, and you cannot pass a law to force someone to respect you. The only way to social justice, in a capitalist country, is through economic parity."

However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.

I respect Millar, sir: he has raised the price of literature.

I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.

The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.

Marriage is not simply a romantic union between two people; it's also a political and economic contract of the highest order.