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Economic Quotes

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Economic Quotes

“We must look at what immigration to America involves. To the new arrivals, the change is excruciating. Learning a new language and dealing with strange customs make the first years of life in the new land painful... The economic system of the United States is a mighty engine of persuasion. It motivates people to do what otherwise they never would in return for fulfilling their dreams. In the process, people learn that there is no sharp line between physical well-being and the higher purposes of life. The comfort of owning a house is at once meeting the obligation to care for one”

“Economic analysis is the first principle of Marxism. Professors who were genuine leftists would have challenged the entire economics-driven machinery of American academe the wasteful multidepartmental structure, the divisive pedantry of overspecialization, the cronyism and sycophancy in recruitment and promotion, the boondoggling ostentation of pointless conferences, the exploitation of graduate students and part-time teachers, the subservience of faculty to overpaid administrators, the mediocrity and folly of the ruling cliques of the Modern Language Association.”

“I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.”

“Now, part of the problem with the climate debate is that so much gas board language like that [the IPCC's language] has been used and there's been too little plain, scientific, and economic thinking. And so, the entire political class has been captured by an idea, which as always with the best bad ideas has a grain of truth in it, which is then exaggerated beyond all reason. This has happened before - one thinks of the Dreyfus case, for instance.”