Home / Quotes / Quote by Paul Romer

Quote by Paul Romer

“Human material existence is limited by ideas, not stuff, people don't need copper wires they need ways to communicate, oil was a contaminant, then it became a fuel”

Quote by Paul Romer

Author

Paul Romer is a renowned economist known for his contributions to economic growth theory, innovation, and urban economics. Born on November 7, 1955, he has taught at MIT and the University of California, Berkeley, and was awarded the Nobel Prize in Economics in 2018. more

You May Also Like

“Experimentation has been the key factor in the success of Western capitalism”

Has Beens Keys Capitalism Economics Western Factors Experimentation

Author:Nathan Rosenberg

“There is economics in biology, nothing is free, everything has to be paid for, there are costs as well as benefits to everything in life, for example, there was never sufficient natural selection pressure to develop better eyes, individuals could earn other things like smiley smiles rather than waste energy & time on better eyes.”

Wells Eye Individual Energy Natural Example Cost Waste Benefits Economics Paid Pressure Sufficient Biology Selection Natural Selection Smiley

Author:Richard Dawkins

“There is a golden thread which runs through British history of the individual, standing firm against tyranny and then of the individual participating in his society”

Running Individual Economics Standing British Tyranny Golden Firm Thread Participating British History Stand Firm

Book:Moving Britain Forward: Selected Speeches, 1997-2006

Source: Moving Britain Forward: Selected Speeches, 1997-2006

“We are confronted by the appearance of social institutions unintentionally created, vital for the welfare of society, which are not the result of reasoned planning”

Social Results Economics Institutions Appearance Planning Welfare Social Institutions

Author:Carl Menger

“The desire to achieve grand utopian plans often poses a grave threat to freedom.”

Desire Plans Achieve Economics Threat Graves Utopian Desire To Achieve European Integration

Author:Margaret Thatcher

“The companies only developed if the state did not intervene in the French fashion. If on the contrary a certain degree of economic freedom was the rule, capitalism moved in firmly and adapted itself to all administrative quirks and difficulties”

Ifs States Certain Company Economic Fashion Degrees Capitalism Economics Difficulty Moved Contrary Adapted Administrative Economic Freedom Quirks French Fashion

Book:Civilization and Capitalism, 15th-18th Century: The wheels of commerce

Source: Civilization and Capitalism, 15th-18th Century: The wheels of commerce

“It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions”

Decision Responsibility Protect Consequence Economics Appropriate Investors Lenders

Author:Ben Bernanke

“Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism”

Made Attitude Opinion Evolution Capitalism Economics Institutions

Book:Selected Essays by Frank H. Knight, Volume 1:

Source: Selected Essays by Frank H. Knight, Volume 1:

“The modern joint stock firm is the outcome of innumerable decisions made by individual entrepreneurs, owners and managers. For these decision makers the choices among alternatives were limited and the outcomes uncertain, but almost always there were choices. Despite the variability of these individual decisions, taken cumulatively they produced clear patterns of institutional change”

“The general struggle for existence of animate beings is not a struggle for raw materials, these for organisms are air water & soil, all abundantly available, nor for energy which exists in plenty in the sun and any hot body in the form of heat, but rather a struggle for entropy, which becomes available through the transition of energy from the hot sun to the cold earth.”