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Economics Quotes

“The refunding of the national debt at a lower rate of interest should be accomplished without compelling the withdrawal of the national-bank notes, and thus disturbing the business of the country.”

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Book:Inaugural Speeches from the Presidents of the United States - Complete Edition
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“Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy.”

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Author:Walter E. Williams
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“I saw that publishing all over the world was deeply constrained by self-censorship, economics and political censorship, while the military-industrial complex was growing at a tremendous rate, and the amount of information that it was collecting about all of us vastly exceeded the public imagination.”

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Author:Julian Assange
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“Good government cannot be found on the bargain-counter. We have seen samples of bargain-counter government in the past when low tax rates were secured by increasing the bonded debt for current expenses or refusing to keep our institutions up to the standard in repairs, extensions, equipment, and accommodations. I refuse, and the Republican Party refuses, to endorse that method of sham and shoddy economy.”

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Author:Calvin Coolidge
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“Mr. Greenspan did a very good job in the early 1990's. But recently he's fallen prey to this crazy theory that prosperity causes inflation. So they're trying to slow the economy down by raising interest rates. It's like a doctor saying you're in great health, so we have to make you sick a little bit. It's a bizarre theory. It's going to hurt our economy.”

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Author:Steve Forbes
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“What the issue here is, you get rid of all the conservative orthodoxy about capital gains, marginal tax rate, supply side economics, you just throw all that out the window, limited government and you just embrace the sheer and raw politics of resentment that have been bubbling the whole time and that`s what you get. You get Donald Trump.”

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Author:Chris Hayes
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“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.”

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Book:Making Money Made Simple: The Aim of This Book Is to Cover the Essentials of Money, Investment, Borrowing and Personal Finance in a Simple Way
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“The rate of growth of the relevant population is much greater than the rate of growth in funds, though funds have gone up very nicely. But we have been producing students at a rapid rate; they're competing for funds and therefore they're more frustrated. I think there's a certain sense of weariness in the intellectual realm, it's not in any way peculiar to economics, it's a general proposition.”

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Author:Kenneth Arrow
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“Though the poorest Americans voted for Hillary Clinton, many relatively wealthy people voted for Trump and generally it's a mistake to think that economics explains Trump. The US is doing relatively well, the economy has significantly recovered since 2008, unemployment rates are low. I would say rather that his appeal to the working class was cultural: "I'll bring back the kinds of jobs your fathers had," and, by implication, the whiter, simpler post-war world when America had no real economic competition.”

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Author:Anne Applebaum
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“The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.”

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Author:Milton Friedman
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“Some years ago John Kenneth Galbraith wrote in an essay on his efforts at writing a history of economics: 'As one approaches the present, one is filled with a sense of hopelessness; in a year and possibly even a month, there is now more economic comment in the supposedly serious literature than survives from the whole of the thousand years commonly denominated as the Middle Ages ... anyone who claims to be familiar with it all is a confessing liar.' I believe that all physicists would subscribe to the same sentiments regarding their own professional literature. I do at any rate.”

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Author:Abraham Pais
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“Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.”

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Book:CourseSmart E-Book for Macroeconomics: A PDF-style E-Book
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“I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.”

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Author:Paul Krugman
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“It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost.”

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Author:Paul Krugman
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“The chief arguments that are urged against an established religion, may be used with equal force against an established charity. The dissenter submits, that no party has a right to compel him to contribute to the support of doctrines, which do not meet his approbation. The rate-payer may as reasonably argue, that no one is justified in forcing him to subscribe towards the maintenance of persons, whom he does not consider deserving of relief.”

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Book:The Proper Sphere of Government: a Reprint of a Series of Letters, Originally Published in
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“Government, on their part, are much disposed to favor the establishment of these large companies, and to give them privileges to the detriment of their rivals, and of the public, with the expectation of receiving from them loans, either gratuitous or at a low rate which these never refuse. It is thus that the one sells its protection and the other buys it; and this is already a very great evil.”

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Author:Antoine Destutt de Tracy
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“For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.”

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Author:Ian Macfarlane
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“Interest rates are going to go up because employment is going to go up. If employment goes up, then our apartments get filled. And if employment goes up, our office buildings get filled. The reality is that increased economic activity combined with increased interest rates is basically bullish for real estate.”

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Author:Sam Zell
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