Best economics & decision Quotes | Short & Famous Sayings

“Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.”

People Ifs Men Want Should Mean Ends Shows Values Decision Economics Tasks Ultimate Aim Chosen Judgement Definite Scope Theoretical Attainment Valuation

Book:Human Action

Source: Human Action

“When all of your decisions are based on economics, you end up with a sameness of vision. You're not taking the risks, you're not exploiting the passions of your creators. You're manufacturing product for a huge vending machine.”

Ends Passion Decision Vision Risk Products Huge Economics Machines Creator Manufacturing Sameness Vending Machines

Author:Steven Bochco

“The greatest decisions I've made in my life are by instinct. I remember when I hired Bill I had a lot of people telling me it was a mistake. But he and I had established a rapport in '96 when he coached the secondary. You need a coach that understands economics, that understands the impact of the salary cap and how to make those difficult decisions that allow you to sustain success over the long term. I don't think there's anyone better than Bill at doing that.”

“I think that local school districts - not the federal government - should make the decision about how they teach science, biology, economics. I want my kids to be taught about evolution; I want my kids to be taught about other theories.”

“The 'American dream' ... means an economy in which people who work hard can get ahead and each new generation lives better than the last one. The 'American dream' also means a democratic political system in which most people feel they can affect public decisions and elect officials who will speak for them. In recent years, the dream has been fading.”

“[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more relevant to economic decisions.”

Men Decision Study Economic Movement Aspect Economics Structure Relevant Cognitive Behavioral Economics

Author:Kenneth E. Boulding

“The capitalist workplace is one of the most profoundly undemocratic institutions on the face of the Earth. Workers have no say over decisions affecting them. If workers sat on the board of directors of democratically operated self-managed enterprises, they wouldn't vote for the wildly unequal distribution of profits to benefit a few and for cutbacks for the many.”

“Don't undermine the science just because you don't like the economics. That's a dangerous slope, because the problem of course is you're not undermining just that, you're undermining the basis of rational decision-making in society.”

Problem Courses Decision Dangerous Economics Bases Rational Decision Making Slopes Undermining Rational Decisions

Author:Brian Cox

“One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.”

Bigs Decision Environment Lessons Economics Function Behavioral Economics

Author:Dan Ariely

“Behavioral economics can explain some things, but it's hard to explain a lot of the underlying processes that generate these decisions, much less some of these unconscious things that we don't have a handle on at all.”

Hard Process Decision Economics Handle Unconscious Behavioral Economics

Author:Edward Boyden

“My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.”

“All progress is precarious, and the solution of one problem brings us face to face with another problem.”

Problem Faces Decision Progress Solutions Economics Civil Rights Reincarnation Face To Face Precarious

Book:A Gift of Love: Sermons from Strength to Love and Other Preachings

Source: A Gift of Love: Sermons from Strength to Love and Other Preachings

“I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.”

Years Hours Decision Responsibility Policy Majors Economics Seven Coffee Department Chairs Seven Years Doughnut Princeton Bagels

Author:Ben Bernanke

“Everyone has the right to make his own decisions, but none has the right to force his decision on others.”

Force Decision Liberty Economic Economics Objectivism

Author:Ayn Rand

“People often of masterful intelligence, trained usually in law or economics or perhaps in political science, who have led their governments into disastrous decisions and miscalculations because they have no awareness whatever of the historical background, the cultural universe, of the foreign societies with which they have to deal.”

People Government Law Political Universe Decision Deals History Awareness Economics Historical Backgrounds Political Science In-laws Miscalculations

Author:Michael Howard

“Why the transfer of decisions from those with personal experience and a stake in the outcome to those with neither can be expected to lead to better decisions is a question seldom asked, much less answered.”

Decision Liberty Economic Economics Expected Outcomes Stakes Transfers Personal Experiences

Author:Thomas Sowell

“What we call the market is really a democratic process involving millions, and in some markets billions, of people making personal decisions that express their preferences. When you hear someone say that he doesn't trust the market, and wants to replace it with government edicts, he's really calling for a switch from a democratic process to a totalitarian one.”

People Want Government Process Decision Liberty Millions Economic Calling Economics Democratic Billions Preference Involving Democratic Process Personal Decisions

Author:Walter E. Williams

“... what we should be looking for is fresh ideas of how we make moral decisions about our dealings with one another, economic, social, cultural. Economic determinism is an objectionable creed where men and women espouse it in its communist or capitalist form because it treats human beings as economic units and not as responsible persons.”

“Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.”

Ifs Want Mean Use Wisdom Decision Knowledge Economy Resources Economics Property Efficiency Free Market Effectiveness Private Property Market Economy Free Market Capitalism Economy And Economics

Author:Milton Friedman

“In my opinion, economists and sociologists are the people to whom we ought to turn more than we do for instruction in the grounds and foundations of all rational decisions.”

People Turns Decision Opinion Ought Economics Foundation Rational Instruction Economist Sociologists Rational Decisions

Author:Oliver Wendell Holmes, Jr.

“It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions”

Decision Responsibility Protect Consequence Economics Appropriate Investors Lenders

Author:Ben Bernanke

“The modern joint stock firm is the outcome of innumerable decisions made by individual entrepreneurs, owners and managers. For these decision makers the choices among alternatives were limited and the outcomes uncertain, but almost always there were choices. Despite the variability of these individual decisions, taken cumulatively they produced clear patterns of institutional change”

“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

“In the model that we grew up with, governments rule physical territory in which national economies function, and strong economies support hegemonic military power. In the new model, already emerging under our noses, economic decisions don't pay much attention to national sovereignty in a world where more than half of the one hundred or two hundred largest economic entities are not countries but companies.”

“My position is that I am personally opposed to abortion, but I don't think I have a right to impose my view on the rest of society. I've thought a lot about it, and my position probably doesn't please anyone. I think the government should stay out completely. I will not vote to overturn the Court's decision. I will not vote to curtail a woman's right to choose abortion. But I will also not vote to use federal funds to fund abortion.”

Thinking Should Use Government Decision Views Economy Position Please Economics Vote Court Abortion Voting Fund

Author:Joe Biden

“Millions of individuals making their own decisions in the marketplace will always allocate resources better than any centralized government planning process.”

Government Political Politics Individual Process Decision Millions Resources Economics Conservative Planning Presidential Marketplace Centralized Government

Book:Ronald Reagan

Source: Ronald Reagan

“Put simply, behavioural economics argues that human beings' decision-taking is guided by the evolutionary baggage which we bring with us to the present day. Evolution has made us rational to a point, but not perfectly so. It has given us emotions, for example, which programme us to override our rational brain and act more instinctively.”

Humans Made Given Human Beings Decision Emotion Brain Example Evolution Economics Arguing Rational Programmes Baggage Present Day

Author:Evan Davis

“However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.”

Years Decision Years Ago Economics Aggravation Bankruptcy Aftermath

Author:Gerard Arpey

“Understanding economics can help you make better decisions and lead a happier life.”

Helping Understanding Decision Economics Happier Life

Author:Tyler Cowen

“As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports.”

Writing Decision Company Economics Bases Customers Reports Massachusetts Portfolios Cambridge Part Time Undergraduate

Author:Merton Miller

“If, in our haste to 'progress,' the economics of ecology are disregarded by citizens and policy makers alike, the result will be an ugly America. We cannot afford an America where expedience tramples upon esthetics and development decisions are made with an eye only on the present.”

Ifs Made Eye America Decision Results Progress Policy Development Citizens Economics Ugly Makers Ecology Haste Disregarded Policy Makers Expedience

Book:The quiet crisis and the next generation

Source: The quiet crisis and the next generation

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