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Economics Quotes

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Economics Quotes

“In the field of economics we maintain to this day some of the most primitive ideas, some of the most radically false ideas, some of the most absurd ideas a brain can hold. ... but all this give no uneasiness to the average brain. That long-suffering organ has been trained for more thousands of years than history can uncover to hold in unquestioning patience great blocks of irrelevant idiocy and large active lies.”

“People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.”

People Persons Together Situation Liberty Economic Ignorance Ordinary Economics Notion Average Ordinary People Average Person More Knowledge

Author:Thomas Sowell

“According to the Tax Foundation, taxes now consume more than 38% of the average family's budget. That is more than is spent on food, clothing, housing, and transportation combined. Compare this to the plight of medieval serfs. They only had to give the lord of the manor one-third of their output - and they were considered slaves. So what does that make us?”

Giving Doe Liberty Lord Taxes Economics Thirds Foundation Slave Average Libertarian Compare Budgets Clothings Libertarianism Housing Medieval Transportation Output Plight Serfs

Author:Daniel J. Mitchell

“In today's knowledge-based economy, what you earn depends on what you learn. Jobs in the information technology sector, for example, pay 85 percent more than the private sector average.”

Source: Public Papers of the Presidents of the United States: William J. Clinton, 2000-2001

“The average American family head will be forced to do twenty years' labor to pay taxes in his or her lifetime.”

Years Pay Liberty Taxes Economics Labor Twenties Lifetime Average Libertarian Libertarianism American Family

Book:Lost Rights: The Destruction of American Liberty

Source: Lost Rights: The Destruction of American Liberty

“Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.”

Action Spirit Decision Animal Results Taken Benefits Consequence Economics Average Outcomes Urges Spontaneous Probability Inaction Days To Come Animal Spirits

Author:John Maynard Keynes

“Home-making today should have a background of scientific training because only in this way can real efficiency be achieved. The average girl wants to be able to keep her house with the least possible strain, and in order to do this she must have good training. This can best be achieved by taking a good course in home economics.”

Way Want Should Real Home Today Able Order Girl Courses House Training Economics Should Have Average Backgrounds Efficiency Strain Home Economics Average Girl

Author:Eleanor Roosevelt

“Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household.”

Years Philosophy Political Used Realizing Environment Conditions Youth Standards Economics Average Granted Enjoyed Minorities Something New Household Looking Back Equipment

Book:Economic freedom and interventionism: an anthology of articles and essays

Source: Economic freedom and interventionism: an anthology of articles and essays

“The main propoganda trick of supporters of the allegedly "progressive" policy of government control is to blame capitalism for all that is unsatisfactory in present-day conditions and to extol the blessings of socialism. They have never attempted to prove their fallacious dogmas, all they did was to call their adversaries names and cast suspicion upon their motives. And, unfortunately, the average citizen cannot see through these stratagems. The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.”

“For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.”

“Legislators who are of even average intelligence stand out among their colleagues. . . . A cultured college president has become as much a rarity as a literate newspaper publisher. A financier interested in economics is as exceptional as a labor leader interested in the labor movement. For the most part our leaders are merely following out in front; they [only] marshal us in the way that we are going.”

Source: The Spoor of Spooks: And Other Nonsense

“Australians always want everyone to be average, as if the best thing you can do is fit in.”

Ifs Want Wisdom Can Do Business Fit Economics Average Best Things

Author:Poppy King