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Economics Quotes

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Economics Quotes

“Economics works great for planning your life when you don't have a work passion, since we tend to assume that your job delivers only money and you trade off job hours with leisure hours. If you think your job will just be a job, pick one that pays well per hour and leaves you some time off, even if the activity of the job is boring.”

“Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing.. those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it.”

“It is a popular delusion that the government wastes vast amounts of money through inefficiency and sloth. Enormous effort and elaborate planning are required to waste this much money.”

“Darwin's greatest achievement was to show that the appearance of purpose, planning, teleology (design), and intentionality in the origin and development of human and animal species was entirely an illusion. The illusion could be explained by evolutionary processes that contained no such purpose at all. But the spread of ideas through imitation required the whole apparatus of human consciousness and intentionality”

“Investors want to know how exposed a business is to climate change. The physical risks to Tesco are clear, but could be far-reaching. Freak weather in the past few months has disrupted our supply lines in Hungary, Bangladesh and Korea. Any responsible board of directors should be planning ahead, thinking through these risks, and presenting them in a clear, transparent way”