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Economics Quotes

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Economics Quotes

“My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international economics.”

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Author:James Meade

“My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.”

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Author:James Meade

“Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.”

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Book:the new industrial state

Source: the new industrial state

“In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.”

“Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen implicitly takes a stand upon essential economic theories.”

Thinking Political Party Economic Theory Citizens Essentials Economics Political Parties Casting Joining Ballots Economic Theory

Author:Ludwig von Mises

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.”

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Author:John Maynard Keynes

“Among the current discussions, the impact of new and sophisticated methods in the study of the past occupies an important place. The new 'scientific' or 'cliometric' history-born of the marriage contracted between historical problems and advanced statistical analysis, with economic theory as bridesmaid and the computer as best man-has made tremendous advances in the last generation.”

Source: Which Road to the Past?: Two Views of History

“Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.”

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Book:The Collected Writings of John Maynard Keynes: Essays in biography

Source: The Collected Writings of John Maynard Keynes: Essays in biography

“The first issue to be settled is whether socialism has a right to exist. Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.”

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Author:John Bates Clark

“Almost all systems of economic thought are premised on the idea of continued economic growth, which would be fine and dandy if we lived on an infinite planet, but there's this small, niggling, inconvenient fact that the planet is, in fact, finite, and that, unlike economic theory, it is governed by physical and biological reality”

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Author:George Monbiot