Quotes About Economics

By contrast, human action, to use the "Austrian" economic term, is not merely reactive to constraints and utility functions but active and creative, the exercise of the free and creative and (some of us think) God-given will that can say yes, or no.

Commerce works better than theft.

A recognition of the impossibility of exact perfection lay behind the work of a few economists, such as Herbert Simon's satisficing, Ronald Coase's transaction costs, George Shackle's and Israel Kirzner's reaffirmation of the old Yogi Berra jest: it's hard to predict, especially about the future.

He says: "The markets are simply information-processing machines, quickly incorporating all available news and expectations.

The markets are simply information-processing machines, quickly incorporating all available news and expectations.

As the noted author and intellectual W .E. B. Du Bois says, we've given all of our economic power away. "When you owe another, your freedom is impaired," Du Bois counseled. "Your ability to decide your destiny is tainted by the amount you owe.

The wage controls ended, but benefits remained. In most cases, benefit

When the infernal machine of plantation slavery began to grind its wheels, iron laws of economics came into play, laws that would lead to immeasurable suffering but would also, and equally inevitably, produce new languages all over the world – languages that ironically, in the very midst of man's inhumanity to man, demonstrated the essential unity of humanity.

The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. Minds matter economically as much as, or more than, hands or mouths.

The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.

Knowledge is and will be produced in order to be sold, it is and will be consumed in order to be valorised in a new production: in both cases, the goal is exchange

It is from the scope and wisdom of the economists of the past that we must reap the knowledge with which to face the future.

Whoever claims that economic competition represents survival of the fittest in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.

It's no accident that capitalism has brought with it progress, not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.

One of the greatest pieces of economic wisdom is to know what you do not know.

To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.

People used to ask me for advice, and I'd say, 'Please, don't ask me!' Yes, I did economics at Oxford, but that's not the same as having a broad knowledge of personal finance.

The more princes abstain from touching the wealth of their people, the greater will be their resources in the wants of the state.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

The basic economic resource - the means of production - is no longer capital, nor natural resources, nor labor. It is and will be knowledge.

Even though I didn't get a business degree, I enjoyed learning about economics.

My object in life is to dethrone God and destroy capitalism.

Social Marxism is just as godless as classical Marxism, if not more so.

There is no economic imperative that will condemn us to deplete our vital resource base, but neither is there an invisible hand that will prevent us from doing so.