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Economics Quotes

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Economics Quotes

“The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.”

Facts Change Numbers Opinion Economy Generations Theory Economics Details Observation Persist

Author:Adam Smith

“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.”

People States Political Liberty Opinion Economic Subjects Crime Ignorance Discipline Economics Libertarian Ignorant Loud Irresponsible

Author:Murray Rothbard

“Children are prepared for democracy by being led to discuss current events without first learning the systematic subjects (politics, economics, history) which are necessary in order to discuss them. The Mole effect is to substitute slogans and superficial opinion for considered individual thought. And the opinion is that of the lowest common denominator of the group.”

“We all do no end of feeling, and we mistake it for thinking. And out of it we get an aggregation which we consider a boon. Its name is public opinion. It is held in reverence. Some think it the voice of God.”

Thinking Ends Feelings Names Voice Mistake Liberty Opinion Economic Economics Reverence Public Opinion Voice Of God Boon

Book:Tales, Speeches, Essays, and Sketches

Source: Tales, Speeches, Essays, and Sketches

“The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.”

Source: Middle of the Road Policy Leads to Socialism

“As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect.”

Values Interest Opinion Records Progress Changed Reader Economics Increase Mark Careful Passages Venture Maximum Here And There Dissent Insert Interrogation

Author:John Bates Clark

“In my opinion, economists and sociologists are the people to whom we ought to turn more than we do for instruction in the grounds and foundations of all rational decisions.”

People Turns Decision Opinion Ought Economics Foundation Rational Instruction Economist Sociologists Rational Decisions

Author:Oliver Wendell Holmes, Jr.

“It is useful that while mankind are imperfect there should be different opinions, so is it that there should be different experiments of living; that free scope should be given to varieties of character, short of injury to others.”

Should Different Character Given Opinion Mankind Economics Experiments Variety Injury Imperfect Scope Different Opinions

Author:John Stuart Mill

“Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism”

Made Attitude Opinion Evolution Capitalism Economics Institutions

Book:Selected Essays by Frank H. Knight, Volume 1:

Source: Selected Essays by Frank H. Knight, Volume 1:

“The intellectual's hostility to the businessman presents no mystery, as the two have, by function, wholly different standards. While the businessman's motto is the customer is always right, the intellectual's task is to preserve his perceived standards against the weight of popular opinion.”

Two Different Philosophy Political Opinion Mystery Intellectual Standards Economics Tasks Weight Function Customers Preserves Businessman Motto Hostility Popular Opinion

Author:Bertrand de Jouvenel

“In my opinion nothing has contributed more to the corruption of the original idea of socialism as the belief that Russia is a socialist country.”

Ideas Country Philosophy Political Belief Opinion Economics Originals Corruption Russia Socialism Socialist Original Ideas Socialist Countries

Book:It is what I think, 1947-1948

Source: It is what I think, 1947-1948

“My surroundings have always been conducive to achieving what you want and believing in self 100 per cent; not being afraid to stand up and voice your opinion.”

Want Believe Self Wisdom Voice Business Opinion Achieve Economics What You Want Cents Surroundings Being Afraid

Author:Poppy King

“The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history.”

Humans Whole Process Opinion Roles Economics Historical Complexes Determine Public Opinion Human History Supremacy

Book:Human action: a treatise on economics

Source: Human action: a treatise on economics

“But the thought leaders on talk radio and Fox do more than shape opinion. Backed by their own wing of the book-publishing industry and supported by think tanks that increasingly function as public-relations agencies, conservatives have built a whole alternative knowledge system, with its own facts, its own history, its own laws of economics.”