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Economics Quotes

Browse 2895 quotes about Economics.

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Economics Quotes

“Economics anxiety may be even more common than the often identified 'math anxiety,' for unlike math, which has its personal uses, economics is seen as a mysterious set of forces manipulated from above.”

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Book:Moving Beyond Words: Essays on Age, Rage, Sex, Power, Money, Muscles: Breaking the Boundaries of Gender
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“I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.”

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Author:Charlie Munger
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“I was always interested in the larger picture, I was pre-law in college, and had a degree in economics. I was very interested in the big question 'how then shall we live?,' how do we organize as a civilization when we are so different, and often don't get along, yet we know at some point we have to unite for the common good? I actually really care about those issues, and I'm driven to understand how it works.”

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Author:Jay Roach
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“Economists operate with this image of the homo economicus, the rational economic agent, and while such agents are rare in the wider world, they are common in economics departments. Exemplifying the homo economicus paradigm, economists typically choose their research projects and hypotheses so as to promote their own careers, to maximize their lifetime income. This explains the astonishing pressures toward conformity in academic economics: how deviant views (except those by a few who have already achieved stardom) get crushed by an army of conformists.”

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Author:Thomas Pogge
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“I like Mitt Romney as a person. I think he's a dignified person. But I have no common ground on economics. He doesn't worry about the Federal Reserve. He doesn't worry about foreign policy. He doesn't talk about civil liberties, so I would have a hard time to expect him to ever invite me to campaign with him.”

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Author:Ron Paul
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“Rather than dividing the world between good and evil, the Left divided the world in terms of economics. Economic classes, not moral values, explained human behavior. Therefore, to cite a common example, poverty, not one's moral value system, or lack of it, caused crime.”

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Author:Dennis Prager
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“America's abundance was created not by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America's industrialization. They gave the people better jobs, higher wages, and cheaper goods with every new machine they invented, with every scientific discovery or technological advance- and thus the whole country was moving forward and profiting, not suffering, every step of the way.”

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Author:Ayn Rand
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“It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”

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Author:John Ruskin
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“The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.”

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Book:Planning for Freedom: Let the Market System Work : a Collection of Essays and Addresses
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“Children are prepared for democracy by being led to discuss current events without first learning the systematic subjects (politics, economics, history) which are necessary in order to discuss them. The Mole effect is to substitute slogans and superficial opinion for considered individual thought. And the opinion is that of the lowest common denominator of the group.”

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Author:Murray Rothbard
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“America's abundance was not created by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes.”

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Book:Capitalism: The Unknown Ideal
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“The replicators that exist tend to be the ones that are good at manipulating the world to their own advantage. But other replicators are also successful otherwise they would not be common. The world therefore tends to become populated by mutually compatible sets of successful replicators, replicators that get on well together”

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Book:The Extended Phenotype: The Long Reach of the Gene
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“Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications.”

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Author:James R Newman
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“What would it mean if there were a theory that explained everything? And just what does "everything" actually mean, anyway? Would this new theory in physics explain, say the meaning of human poetry? Or how economics work? Or the stages of psychosexual development? Can this new physics explain the currents of ecosystems, or the dynamics of history, or why human wars are so terribly common?”

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Book:A Theory of Everything: An Integral Vision for Business, Politics, Science and Spirituality
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