Quotes About Economic outcomes

The irony is that just as markets started delivering more unequal outcomes, tax policy asked less of the top. The top marginal tax rate was lowered from 70 percent under Carter to 28 percent under Reagan; it went up to 39.6 percent under Clinton and down finally to 35 percent under George W. Bush.54 This reduction was supposed to lead to more work and savings, but it didn't.55

Drying up of capital has different consequences in different environments.

Narrative economics demonstrates how popular stories change through time to affect economic outcomes, including not only recessions and depressions, but also other important economic phenomena. The idea that house prices can only go up attaches to the stories of rich house flippers seen on television. The idea that gold is the safest investment attaches to stories of war and depression. These narratives have a contagious element, even if their attachment to any given celebrity is tenuous.

Money has no grey areas. You either make it or you lose it.

If you take the same child and put them in two different places, it will dramatically shape the way in which their economic outcomes are realized later in life.

Differences in habits and attitudes are differences in human capital, just as much as differences in knowledge and skills—and such differences create differences in economic outcomes.

The Statist, however, misuses equality to pursue uniform economic and social outcomes.