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Economics Quotes

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Economics Quotes

“Pluck from under the family all the props which religion and morality have given it, strip it of the glamour, true or false, cast round it by romance, it will still remain a prosaic, indisputable fact, that the whole business of begetting, bearing and rearing children, is the most essential of all the nation's businesses.”

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Author:Eleanor Rathbone
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“The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable, gold is rare, gold is even (in certain very peculiar circumstances) convertible. To believe in thrift, solidity and soundness is to believe in some way in the properties of gold.”

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Author:Christopher Hitchens
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“Human well-being is not a random phenomenon. It depends on many factors - ranging from genetics and neurobiology to sociology and economics. But, clearly, there are scientific truths to be known about how we can flourish in this world. Wherever we can have an impact on the well-being of others, questions of morality apply.”

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Author:Sam Harris
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“Banks have done more injury to the religion, morality, tranquility, prosperity, and even wealth of the nation than they can have done or ever will do good.”

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Book:The Works of John Adams, Second President of the United States: With a Life of the Author, Notes and Illustrations
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“The cash register did more for human morality than the Congregational Church. It was a really powerful phenomenon to make an economic system work better, just as, in reverse, a system that can be easily defrauded ruins a civilization. A system that's very hard to defraud, like a cash register, helped the economic performance of a civilization by reducing vice, but very few people within economics talk about it in those terms.”

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Author:Charlie Munger
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“We have always known that heedless self-interest was bad morals; we know now that it is bad economics. Out of the collapse of a prosperity whose builders boasted their practicality has come the conviction that in the long run economic morality pays.”

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Book:The Essential Franklin Delano Roosevelt
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“In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.”

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Author:Paul Krugman
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