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Economic Quotes

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Economic Quotes

“From the equilibrium and spontaneous order of Adam Smith and his heirs, from invisible-handed markets and perfect competition, supply and demand, and rewards and punishments, I was pushed to theories of disequilibrium and disorder, and information and noise, as the keys to understanding economic progress.”

Source: Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World

“If we're all led to believe that poverty is just a matter of laziness or stupidity or whatever other justifications we can come up with, then we're not likely to be in a real position to do much about it when it comes to attacking the root cause of the problem. Instead of demanding a more equitable system for the distribution of social and economic goods, we blame the victim. This is insidious, because ideology is something we carry around with us in our heads; it forms the basis of our day-to-day understanding of the world.”

Source: Making a Killing: The Political Economy of Animal Rights

“In studying the fate of our forest king, we have thus far considered the action of purely natural causes only; but, unfortunately, man is in the woods, and waste and pure destruction are making rapid headway. If the importance of the forests were even vaguely understood, even from an economic standpoint, their preservation would call forth the most watchful attention of government”

Source: JOHN MUIR Ultimate Collection: Travel Memoirs, Wilderness Essays, Environmental Studies & Letters (Illustrated): Picturesque California, The Treasures of the Yosemite, Our National Parks, Steep Trails, Travels in Alaska, A Thousand-mile Walk to the Gulf, Save the Redwoods, The Cruise of the Corwin and more

“I wish I could write a book that will be read for as long as our civilization lasts. I would value it much more highly than any business success if I could contribute to an understanding of the world in which we live or, better yet, if I could help to preserve the economic and political system that has allowed me to flourish as a participant.”

Ifs World Writing Long Book Helping Lasts Political Values Wish Understanding Economic Civilization Preserves If I Could Business Success Participants Political Systems

Author:George Soros

“Since ancient times, the left side has stood for the side of the unconscious or the unknown; the right side, by contrast, has represented the side of consciousness or wakefulness. Through the late twentieth century, the movement of the Left limited themselves to a materialist understanding of reality- exemplified by Marxism- demanding social justice and economic equality but not the restoration of intuition and the recognition of the hidden, qualitative dimensions of being suppressed by the mental-rational consciousness, narrowly focused on the quantifiable.”

“Further, economic systems ... have never arranged themselves by themselves. It is men who do the ordering according to their attitudes, desires and understanding of things. Changes take place, not independent of man's will, but on account of man's wills. Civilization has progressed by man's interference with material conditions.”

Men Giving Desire Understanding Attitude Atheism Economic Conditions Materials Civilization Accounts Importance Independent Positive Atheism Primaries Things Change Interference Economic Systems

Author:Goparaju Ramachandra Rao

“The Quest for Prosperity is an important book. Written with verve and clarity, it reflects a deep understanding of global economic issues, and proposes practical solutions that anyone concerned with the plight of the world's poor would be wise to read.”

“People in the political world have every incentive to say things that lead voters away from a clear economic understanding of issues. What has happened more and more is that organized groups have more and more reasons to say things that don't make any economic sense.”

People World Reason Political Understanding Issues Clear Happened Groups Economic Organized Voters Incentives

Author:Thomas Sowell

“Relationships are at the core of any political system and economic system - any family - and I think we drifted away from understanding that in our country. The people-to-people level is critical. It is ironic, though - we can text with anybody in the world, we can have a videoconference with anybody in the world, but [there should be] an even higher premium on showing up and getting to know someone.”

“Concern for the fate of the great rivers of the earth must lead us to reflect soberly on the model of development which our society is pursuing. A purely economic and technological understanding of progress, to the extent that it fails to acknowledge its intrinsic limitations and to take into consideration the integral good of humanity, will inevitably provoke negative consequences for individuals, peoples and creation itself.”

“We need a much better understanding of the climate before making policy choices that would impose substantial economic costs on our Nation.”

Needs Choices Nations Understanding Economic Policy Cost Climate

Author:Ted Cruz

“I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.”

Way Use Understanding Interest Economic Fields Models Economics Boundaries Productive Statistics Economic Models Econometrics

Author:Lars Peter Hansen

“We don't have the leadership or the understanding of the value of this, and when your political systems and your economic systems start to fail, it's only a cultural understanding that allows you to reconstruct them and to get back to who you are. For some reason, it hasn't dawned on us yet.”

Reason Political Values Understanding Failing Economic Who You Are Get Back Political Systems Economic Systems

Author:Wynton Marsalis

“The arts have long been an integral and vibrant part of our nation's cultural heritage. In its many forms, art enables us to gain a deeper understanding of ourselves and of our society. Providing us with a unique way to learn about people of other cultures, it allows us to discover all that we have in common. At its best, art can beautify our cities, encourage economic development and social change, and profoundly affect the ways we live our lives.”

“Libertarianism is a theory of politics that is so compelling that once you have absorbed it, it becomes the lens through which you end up understanding all economic and political events.”

Ends Political Understanding Economic Events Theory Libertarianism Compelling Lenses

Book:Fascism versus Capitalism

Source: Fascism versus Capitalism

“The Trouble with liberals is twofold: They have a horrible blind spot with respect to moral principles and they have an abysmal understanding of economic principles.”

Understanding Moral Principles Trouble Economic Blind Horrible Spots Moral Principles Blind Spots

Author:Jacob G. Hornberger

“Unfortunately, liberals didn't stop with welfare-statism. They also turned to economic regulations, not understanding that such interventions, again, harmed the very people they were supposedly truing to help - the poor and destitute.”

People Helping Understanding Poor Economic Welfare Regulation Intervention Destitute Help The Poor

Author:Jacob G. Hornberger

“I was 25 years old and pursuing my doctorate in economics when I was allowed to spend six months of postgraduate studies in Naples, Italy. I read the Western economic textbooks and also the more general work of people like Hayek. By the time I returned to Czechoslovakia, I had an understanding of the principles of the market. In 1968, I was glad at the political liberalism of the Dubcek Prague Spring, but I was very critical of the Third Way they pursued in economics.”

“It is thus hardly surprising that so many of the great minds in recent history have concerned themselves with economic matters. Indeed, they have come to regard economic theory in precisely the same way the ancient philosophers viewed the heavens - as the key to understanding and controlling our fate.”

Way Mind Matter Heaven Understanding Fate Economic Theory Keys Concerned Regard Ancient Philosopher Surprising Great Minds Economic Theory

Book:Unlimited Wealth: The Theory and Practice of Economic Alchemy

Source: Unlimited Wealth: The Theory and Practice of Economic Alchemy

“I founded the King Hussein Foundation after my husband's death in 1999, to build on his humanitarian vision and legacy in the country and abroad, through programs promoting education and leadership, economic empowerment, tolerance, cross-cultural dialogue, and media that enhances mutual understanding and respect among different cultures across conflict lines.”

“I think it's very important to remember that so much of the work that gets done between countries is not done at the level of presidents, but is done within various agencies, whether it's law enforcement or economic ministries. And when they establish relationships and systems of communications and shared projects and shared visions, those structures continue even after any particular president is gone. It builds trust and understanding between countries that are critically important.”