Home / Topics / Economics Quotes

Economics Quotes

Browse 2895 quotes about Economics.

Economics Quotes

“Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.”

Ifs Way Should Looks States Enough Use Hands Principles Policy Huge Demand Aspect Economics Mess Beer Gas Regulation Transportation Preventing Daycare

Author:Jeffrey Tucker

“If, however, a government refrains from regulations and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer.”

Source: The Economic Consequences of the Peace: The classic text on the Treaty of Versailles and post war Europe

“Teachers have power. We may cripple them by petty economics; by Government regulations, by the foolish criticism of an uninformed press; but their power exists for good or evil.”

May Government Evil Teacher Teaching Economics Criticism Presses Foolish Regulation Petty Cripples Government Regulation Uninformed

Book:Letters to a Friend

Source: Letters to a Friend

“Whenever the legislature attempts to regulate differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favor of the workmen, it is always just and equitable; but it is sometimes otherwise when in favor of the masters.”

Sometimes Differences Masters Economics Favors Regulation Legislature Workmen Equitable Wealth Of Nations Counsellors

Book:The Wealth of Nations: the Great Master

Source: The Wealth of Nations: the Great Master

“I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.”

“If you're a realist, you know that people have different roles to play in politics, economics, and this is an important role, but I do think that there has to be an understanding of how what happens here on Wall Street has such broad consequences not just for the domestic but the global economy, so more thought has to be given to the process and transactions and regulations so that we don't kill or maim what works, but we concentrate on the most effective way of moving forward with the brainpower and the financial power that exists here.”

“Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.”

Fear Economy Virtue Subjects Conscience Economics Vices Excess Regulation

Author:Adam Smith

“The problems that exist on Wall Street today go to the center of a debate in this country about wealth and democracy. We cannot keep our democracy if those who are in charge of handling the engines of our economy are not honest with their shareholders. That's why there is a role for government regulation here. That role for government is breaking up the monopolies, insisting on public disclosure, insisting on public audits, insisting on restitution whenever someone has been cheated.”

“People who create things nowadays can expect to be prosecuted by highly moralistic people who are incapable of creating anything. There is no way to measure the chilling effect on innovation that results from the threats of taxation, regulation and prosecution against anything that succeeds. We'll never know how many ideas our government has aborted in the name protecting us.”

“Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...”

Problem Reality Able Levels Achieve Ignorance Expectations Economics Clarity Uncertainty Regulation Regulators Unrealistic Expectations

Author:Alan Greenspan

“The prudential regulation that I have put in place has been absolutely critical. The fiscal policy which we have put in place has been absolutely critical and if people looked at Australia now turn its back on economic reform, which of course industrial relations rollback or throwback would be, let me tell you, that would really start affecting confidence.”

People Ifs Has Beens Would Be Turns Courses Economy Economic Policy Economics Let Me Relation Critical Reform Australia Regulation Fiscal Policy Throwback Economic Reforms

Author:Peter Costello

“We need a race to the top so that we have policies and regulations that protect human rights, the environment and that reduce poverty.”

Needs Humans Race Poverty Environment Rights Policy Protect Economics Human Rights Regulation

Author:Winnie Byanyima

“"The ultimate recession": a recession caused not by failed regulation and bankers' greed, but by very high oil prices, food and water shortages, disappearing forests, accelerating climate change, forced migration and mass civil disruption...The long and the short of it, unfortunately, is this: more politicians still believe that economic recovery depends on continuing to live beyond our means (financially and ecologically) than on learning to live within our means. And that's why the ultimate "Perfect Storm" recession still looms on the horizon”

“Yet the basic fact remains: every regulation represents a restriction of liberty, every regulation has a cost. That is why, like marriage (in the Prayer Book's words), regulation should not "be enterprised, nor taken in hand, unadvisedly, lightly, or wantonly"”

Should Book Facts Hands Political Politics Prayer Liberty Taken Cost Economics Remains Conservative Regulation Restriction

Author:Margaret Thatcher