Best economics & said Quotes | Short & Famous Sayings

“In the 1980s, we were advised, why don't you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let's see how we can fit them in the Indian economy. Every country has its own way of moving forward.”

Way Said Country Moving Economy Fit Economics Moving Forward Indian Reaganomics

Author:Pranab Mukherjee

“It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.”

Source: Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World

“An American economist of two generations ago, H. J. Davenport, who was the best friend Thorstein Veblen ever had (Veblen actually lived for a time in Davenport's coal cellar) once said: "There is no reason why theoretical economics should be a monopoly of the reactionaries." All my life I have tried to take this warning to heart, and I dare call it to your favorable attention.”

Should Heart Said Two Reason Attention Generations Economics Dare Reason Why No Reason Warning Coal Economist Monopoly Theoretical Reactionaries Cellars

Book:The Collected Scientific Papers of Paul Samuelson, Volume 3

Source: The Collected Scientific Papers of Paul Samuelson, Volume 3

“the principal sources of human misery may fairly be said to lie in the over-possession, under-possession, and the unwise use of economic goods.”

Humans May Said Use Lying Economic Source Economics Misery Possession Goods Principal Unwise

Author:Georgia Harkness

“It was interesting to find how dominating American vision is all over the world. I think there's something to be said about the world's mindset and its economics and all of that, and I think it affects the way we see ourselves and it affects music.”

Thinking World Way Said Interesting Vision Economics Mindset Dominating

Author:K'naan

“A lot of Democrats have said that raising the minimum wage is both good economics and good politics. The nonpartisan CBO issued a report today saying that raising the minimum wage to $10.10 an hour would cost the economy about 500,000 jobs...Why should we trust Democrats on anything when they couldn't have foreseen that this would be the case?”

“We rarely hear, it has been said, of the combinations [that is, unions or colluding organizations] of masters, though frequently of those of workmen. But whoever imagines, upon this account, that masters rarely combine, is as ignorant of the world as of the subject. Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor above their actual price.”

World Has Beens Said Imagine Subjects Masters Economics Labor Organization Accounts Raises Constant Unions Ignorant Combination Uniforms Wages Workmen Tacit Wealth Of Nations

Author:Adam Smith

“A merchant, it has been said very properly, is not necessarily the citizen of any particular country.”

Has Beens Said Country Particular Citizens Economics Merchants

Book:The Wealth of Nations: An Inquiry into the Nature and Causes of the Wealth of Nations

Source: The Wealth of Nations: An Inquiry into the Nature and Causes of the Wealth of Nations

“Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, `What would I do if I were a horse?' '”

Ifs World Years Looks Said Real Wanted Study Economic Events Economics Horse Meetings Abstract Real World Economist Divorced Economic Systems Devon

Author:Ronald Coase

“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.”

“What the people here have said is that given the enormous crises facing our country, it is just too late for the same old, same old establishment politics and establishment economics.”

People Said Country Given Late Economics Crisis Enormous Our Country Too Late Establishment

Author:Bernie Sanders

“As Charles Darwin said,'The economy shown by Nature in her resources is striking,'' says the Spirit. 'All wealth comes from Nature. Without it, there wouldn't be any economics. The primary wealth is food, not money. Therefore anything that concerns the handling of the land also concerns me.”

Said Spirit Wealth Economy Land Resources Concern Economics Primaries

Book:Payback: Debt and the Shadow Side of Wealth

Source: Payback: Debt and the Shadow Side of Wealth

“I do agree that the science is not settled on this. The idea we would put Americans' economy in jeopardy based on scientific theory that is not settled yet to me is nonsense. Just because you have a group of scientists who stood up and said this is the fact... Galileo got outvoted for a spell. To put Americans' economic future in jeopardy, asking us to cut back in areas that would have monstrous economic impact on this country is not good economics and I would suggest is not necessarily good science.”

“Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.”

Source: The Economic Consequences of the Peace: The Economist

“A colleague saw the same model-calibrating the elasticity of demand facing a Cournot oligopolist as a function of the number of firms in the industry--described at the University of Chicago and at M.I.T. A Chicago economist derived the formula and said, "Look at how few firms you need to get close to infinite elasticities and perfect competition." An M.I.T. economist derived the same formula and said, "Look at how large n has to be before you get anywhere close to an infinite elasticity and perfect competition."”

Needs Looks Said Perfect Numbers Saws Industry Demand Models Economics Function Infinite Competition University Firm Chicago Formulas Colleagues Economist Elasticity Perfect Competition

Author:Matthew Rabin

“To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He was asked what he was looking for. He said "I lost my watch."”

Men Said Would Be Lost Situation Watches Economics Sticks Squares Pavement Times Square Present Situation

Author:William Vickrey

“In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.”

May Said Modern Youth Economics Mathematics Silly

Author:Ronald Coase

“As my father-in-law once said, when they talk about taxes it's always for teachers, firemen, and police - but when they spend your taxes, it always seems to go to some guy in a leather chair downtown you never heard of.”

Said Seems Law Political Guy Father Politics Teacher Heard Taxes Economics Police Chairs In-laws Leather Downtown Fireman Politics And Economics Father In Law

Author:Glenn Reynolds

“Fifteen years ago, if you said business will help save the environment people would have laughed at you. Today, I believe that is a serious proposition.”

People Ifs Years Believe Said Helping Today I Believe Business Environment Serious Years Ago Economics Management Laughed Fifteen Propositions Fifteen Years Save The Environment

Author:Tony Blair

“Science is the only news. When you scan a news portal or magazine, all the human interest stuff is the same old he-said-she-said, the politics and economics the same cyclical dramas, the fashions a pathetic illusion of newness; even the technology is predictable if you know the science behind it. Human nature doesn't change much; science does, and the change accrues, altering the world irreversibly”

“Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.”

Ifs Said Enough Sides Generations Economic Policy Theory Approach Economics Horse Elegant Sparrows Economic Policy Trickle Down Oats Trickle Down Economics Supply Side Economics

Author:John Kenneth Galbraith

“I can't resist telling you that when the Vienna Economics Institute celebrated its centennial, many years ago, they invited, as their keynote speaker, my father [John Kenneth Galbraith]. The leading economists of the Austrian school- including von Hayek and von Haberler - returned for the occasion. And so my father took a moment to reflect on the economic triumphs of the Austrian Republic since the war, which, he said, "would not have been possible without the contribution of these men." They nodded - briefly - until it dawned on them what he meant. They'd all left the country in the 1930s.”

“Thirty years ago, if you said the country was living beyond its means, people would have thought about economics. Now, if you talk about the country, or the planet living beyond its means, you think about the environment. We are taking out more than we are giving back. We are consuming energy, water, and other natural resources in a way that is leading to huge and often irreversible damage to the planet. So too are most other developed nations. And so too will China and India if they follow the same path of economic development as us”

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Economics Quotes