“It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seems so counter to what the world is like. Many of the things that I'm going to describe make so much more common sense than these notions that seem counter to what one's eyes see every day.” WorldBelieveSeemsEyeCommonQualityGenerationsTeachingStudentsEconomicsNotionCommon SenseTribute Author:Joseph Stiglitz
“capital is the result of saving, and not of spending. The spendthrift who wastes his substance in riotous living decreases the capital of the country, and therefore the excuse often made for extravagance, that it is good for trade, is based upon false notions respecting capital.” MadeCountryResultsWasteEconomicsTradeNotionExcuseSpendingSavingSubstanceDecreaseExtravaganceSpendthrift Book:Political Economy for Beginners Source: Political Economy for Beginners
“There is a bizarre notion according to which it is claimed that because men are corrupt, it is necessary to give certain of them all the more power... on the contrary, they must be given less power.” MenGivingPhilosophyPoliticalCertainGivenEconomicsNotionContraryBizarre Author:Benjamin Constant
“Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are.” IfsThinkingLawStrangeOrdinaryEconomicsNotionDeficitProsperousIndebtedness Author:Albert J. Nock
“People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.” PeoplePersonsTogetherSituationLibertyEconomicIgnoranceOrdinaryEconomicsNotionAverageOrdinary PeopleAverage PersonMore Knowledge Author:Thomas Sowell
“We have a basic notion that unless we find a solution for environmental problems, we will not achieve sustainable growth in the coming years” YearsProblemGrowthBusinessAchieveSolutionsEconomicsManagementEnvironmentalNotionEnvironmental Problems Author:Hiroyuki Watanabe