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Economics Quotes

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Economics Quotes

“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.”

“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.”

“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.”

“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.”

“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.”

“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.”