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Economics Quotes

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Economics Quotes

“One of the greatest pieces of economic wisdom is to know what you do not know.”

Knows Wisdom Knowledge Pieces Economic Economics

Author:John Kenneth Galbraith

“It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.”

“Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.”

Wells Matter Education Situation Knowledge Learning Exercise Judgment Economics Absolutes Learners

Book:Risk, Uncertainty and Profit

Source: Risk, Uncertainty and Profit

“Facts do not cease to exist because they are ignored.”

“Economic development over the past two centuries has taken most of humanity from lives that were brutal, ignorant and short, to personal health and security, material comfort and knowledge that were unknown to the elites of the wealthiest and most powerful societies in earlier times.”

“The time has come to link ecology to economic and human development. When you have seen one ant, one bird, one tree, you have not seen them all. What is happening to the rain forests of Madagascar and Brazil will affect us all.”

Knows Humans Science Knowledge Tree Economic Development Happenings Bird Rain Economics Forests Biology Links Ecology Ants Brazil Human Development Madagascar

Author:E. O. Wilson

“Without an acquaintance with chemistry, the statesman must remain a stranger to the true vital interests of the state, to the means of its organic development and improvement; ... The highest economic or material interests of a country, the increased and more profitable production of food for man and animals, ... are most closely linked with the advancement and diffusion of the natural sciences, especially of chemistry.”

Source: Familiar Letters on Chemistry, in its relation to Physiology, Dietetics, Agriculture, Commerce and Political Economy: Edited by John Blyth

“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

“If you torture the data long enough, it will confess.”

Ifs Long Enough Truth Knowledge Economic Economics Data Analysis Torture Statistics Confession Analysts Analytics Metrics Funny Science Analysing Gathering Data

Author:Ronald Coase

“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

“To be sure, mathematics can be extended to any branch of knowledge, including economics, provided the concepts are so clearly defined as to permit accurate symbolic representation. That is only another way of saying that in some branches of discourse it is desirable to know what you are talking about.”

Knows Way Talking Knowledge Concepts Economics Mathematics Including Math Defined Mathematical Branches Permit Accurate Representation Discourse Desirable Another Way Symbolic

Book:The World of Mathematics

Source: The World of Mathematics