Best economics & competition Quotes | Short & Famous Sayings

“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

“I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warrenhas always been very open about what he's learned, and I share that ethos. My personal behavior model is Lord Keynes: I wanted to get rich so I could be independent, and so I could do other things like give talks on the intersection of psychology and economics. I didn't want to turn it into a total obsession.”

“And one of the worst effects was that by suppressing critical thought, it also suppressed critical thought in the field of economics and hampered the development of economics - and the country would fall back further and further in the economic competition with the West.”

Country Fall Economic Worst Effects Fields Development Economics Competition West Critical Fall Back Suppressing Economic Competition

Author:Stefan Heym

“Though the poorest Americans voted for Hillary Clinton, many relatively wealthy people voted for Trump and generally it's a mistake to think that economics explains Trump. The US is doing relatively well, the economy has significantly recovered since 2008, unemployment rates are low. I would say rather that his appeal to the working class was cultural: "I'll bring back the kinds of jobs your fathers had," and, by implication, the whiter, simpler post-war world when America had no real economic competition.”

“They will come to learn in the end, at their own expense, that it is better to endure competition for rich customers than to be invested with monopoly over impoverished customers.”

Ends Economy Rich Economics Competition Endure Customers Expenses Monopoly

Author:Frederic Bastiat

“Many of my students assume that government protection is the only thing ensuring decent wages for most American workers. But basic economics shows that competition between employers for workers can be very effective at preventing businesses from misbehaving.”

Shows Government Students Economics Competition Assuming Workers Protection Decent Wages Employers Preventing American Workers Misbehaving

Author:Christina Romer

“Today the logic goes something like this: 'Calling a ruler Son of God is out of style. No one really does that nowadays. We can support a president while also worshiping Jesus as the Son of God.' But how is this possible? For one says that we must love our enemies, and the other says we must kill them; one promotes the economics of competition, while the other admonishes the forgiveness of debts. To which do we pledge allegiance?”

Doe Today Jesus President Enemy Support Style Son Calling Economics Logic Competition Debt Rulers Pledge Allegiance Admonish

Book:Jesus for President

Source: Jesus for President

“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”

“A competitive world offers two possibilities. You can lose. Or, if you want to win, you can change.”

Ifs World Want Inspirational Two Motivational Winning Change Loses Business Possibility Offers Losing Economics Competition Competing

Author:Lester Thurow

“Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow.”

Men Want Hands Today Fighting Left Interest Liberty Rich Economic Tomorrow Economics Entrepreneur Competition Enterprise Free Enterprise

Book:Human action: a treatise on economics

Source: Human action: a treatise on economics

“It's no accident that capitalism has brought with it progress, not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.”

Spirit Force Liberty Progress Duty Capitalism Economics Stronger Competition Productions Accidents Libertarian Libertarianism Alas Egoism

Book:The Albert Einstein Collection: Essays in Humanism, The Theory of Relativity, and The World As I See It

Source: The Albert Einstein Collection: Essays in Humanism, The Theory of Relativity, and The World As I See It

“The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.”

Desire Liberty Activity Economics Competition Profit Libertarian Libertarianism Businessman Engaging

Book:Knowledge And Decisions

Source: Knowledge And Decisions

“Wealth comes from successful individual efforts to please one's fellow man ... that's what competition is all about: "outpleasing" your competitors to win over the consumers.”

Men Winning Individual Wealth Effort Liberty Successful Please Economics Fellows Competition Libertarian Consumers Libertarianism Competitors Fellow Man Individual Effort Successful Individuals

Author:Walter E. Williams

“The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.”

World Home Existence Danger Source Protect Economics Trade Sells Competition Protection Alternatives Consumers Protected Monopoly Free Trade Sellers

Author:Milton Friedman

“Even as a young man, Vito Corleone became known as a "man of reasonableness." He never uttered a threat. He always used logic that proved to be irresistible. He always made certain that the other fellow got his share of profit. Nobody lost. He did this, of course, by obvious means. Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.”

“A colleague saw the same model-calibrating the elasticity of demand facing a Cournot oligopolist as a function of the number of firms in the industry--described at the University of Chicago and at M.I.T. A Chicago economist derived the formula and said, "Look at how few firms you need to get close to infinite elasticities and perfect competition." An M.I.T. economist derived the same formula and said, "Look at how large n has to be before you get anywhere close to an infinite elasticity and perfect competition."”

Needs Looks Said Perfect Numbers Saws Industry Demand Models Economics Function Infinite Competition University Firm Chicago Formulas Colleagues Economist Elasticity Perfect Competition

Author:Matthew Rabin

“Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.”

Perfect Crime Economics Tools Competition Handle Imperfect Perfect Competition

Book:Paul Samuelson on the History of Economic Analysis: Selected Essays

Source: Paul Samuelson on the History of Economic Analysis: Selected Essays

“There is a history of mathematical models of oligopolistic competition dating from Cournot to the theory of games. There is also a literature generated by institutional economists, lawyers, and administrators interested in formulating and implementing public policy. It has been the tendency of these groups to work almost as though the other did not exist.”

Has Beens Literature Games Groups Policy Theory Models Economics Dating Competition Lawyer Tendencies Mathematical Economist Public Policy Administrators Implementing Mathematical Models

Book:Market structure and behavior

Source: Market structure and behavior

“Where combination is possible, competition is impossible.”

Impossible Economics Competition Combination

Author:George Stephenson

“I am convinced that both markets and free trade are good, but the traditional answer that we give to students to explain why they are good, the one based on perfect competition and Pareto optimality, is becoming untenable. Something much more interesting and more complicated is going on here”

Giving Answers Perfect Interesting Students Becoming Economics Trade Competition Complicated Convinced Traditional Free Trade Perfect Competition

Author:Paul Romer

“Competition is like experimentation in science, a discovery process, and it must rely on the self interest of producers, it must allow them to use their knowledge for their purposes, because nobody else possesses the information”

Self Use Purpose Process Interest Information Discovery Economics Competition Producers Rely Self Interest Experimentation

Author:Friedrich August von Hayek

“Competition is the most promising means to achieve and secure prosperity. It alone enables people in their role of consumer to gain from economic progress. It ensures that all advantages which result from higher productivity may eventually be enjoyed.”

People May Mean Results Roles Progress Economic Achieve Higher Gains Advantage Economics Competition Prosperity Productivity Secure Enjoyed Consumers Economic Progress

Author:Ludwig Erhard

“Protectionism, socialism, all varieties of state favoritism and restrictions on competition, and the growth of bureaucracy and jobbery were the means by which special interests sought to exploit the public, the great mass of consumers and taxpayers.”

“I've never believed protectionism of that kind will lead us anywhere. I think you can have certain specific rules for engaging with India.. for example, not allowing mineral resources to be taken out of the country.. but there is not a shred of doubt in my mind that when you open an economy you should do it in totality. Foreign investment adds a sense of competition; we should see this as a wake-up call to modernise and upgrade. Companies that do not will undoubtedly die.”

“It's not competition and greed that makes the world go around, it's cooperating and caring”

World Business Economics Management Competition Greed Caring Cooperating

Author:Ed Mayo

“We should know that only replacing the economics of competition and greed with the economics of equitable cooperation will guarantee a globalization that takes advantage of potential efficiency gains in ways that also promote environmental protection, international equity, economic democracy, and variety.”

Source: Panic rules!: everything you need to know about the global economy

“Freedom requires that government keep the channels of competition and opportunity open, prevent monopolies, economic abuse and domination.”

Government Opportunity Economic Economics Abuse Competition Presidential Domination Monopoly

Book:Addresses Upon the American Road

Source: Addresses Upon the American Road

“Adam Smith had one overwhelmingly important triumph: he put into the center of economics the systematic analysis of the behavior of individuals pursuing their self-interest under conditions of competition.”

Important Self Individual Interest Conditions Behavior Economics Competition Triumph Analysis Adam Self Interest Systematic

Author:George Stigler

“Whoever claims that economic competition represents survival of the fittest in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.”

Law Economic Survival Evidence Economics Claims Competition Jungle Survival Of The Fittest Lack Of Knowledge Economic Competition

Author:George Reisman

“A favorite Wired icon for the information feedback loop, a dragon curling in a circle to swallow its own tail, could become more apt as a symbol of the timeless libertarian paradox: Monopoly verging on feudalism emerges from unregulated competition to bite libertarianism in the posterior.”

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