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Economics Quotes

Browse 2895 quotes about Economics.

Economics Quotes

“The conventional view serves to protect us from the painful job of thinking.”

Thinking Life Motivational Pain Jobs Views Protect Economics Painful Insult Statistics Conformity Conventional Veganism Nonconformity

Author:John Kenneth Galbraith

“An economist is a man who states the obvious in terms of the incomprehensible.”

Men States Term Economics Investing Obvious Sarcasm Sarcastic Statistics Economist

Author:Alfred A. Knopf, Sr.

“I have been accused of being ignorant of economics (although I am the founder and Chairman of the Board of a company which publishes seven professional economic newsletters), of being ignorant of sociology (although I am trained in sociology and was C. Wright Mills' research assistant at Columbia), of being unable to use statistics (although I earned my living as a professional statistician for five years) and of ignoring political factors (although all my graduate training was in political science).”

Source: The New Psychohistory

“I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.”

Way Use Understanding Interest Economic Fields Models Economics Boundaries Productive Statistics Economic Models Econometrics

Author:Lars Peter Hansen

“Economics in college was very poor; I was not very impressed with it. I actually wanted to study statistics. I discovered mathematical statistics as an undergraduate and was fascinated with it.”

Wanted Poor Study College Economics Mathematical Statistics Fascinated Impressed Undergraduate

Author:Kenneth Arrow

“In the long run we are all dead.”

“The investigation of causal relations between economic phenomena presents many problems of peculiar difficulty, and offers many opportunities for fallacious conclusions. Since the statistician can seldom or never make experiments for himself, he has to accept the data of daily experience, and discuss as best he can the relations of a whole group of changes; he cannot, like the physicist, narrow down the issue to the effect of one variation at a time. The problems of statistics are in this sense far more complex than the problems of physics.”

“If you torture the data long enough, it will confess.”

Ifs Long Enough Truth Knowledge Economic Economics Data Analysis Torture Statistics Confession Analysts Analytics Metrics Funny Science Analysing Gathering Data

Author:Ronald Coase

“Among the current discussions, the impact of new and sophisticated methods in the study of the past occupies an important place. The new 'scientific' or 'cliometric' history-born of the marriage contracted between historical problems and advanced statistical analysis, with economic theory as bridesmaid and the computer as best man-has made tremendous advances in the last generation.”

Source: Which Road to the Past?: Two Views of History

“In a high tech world the cure for the tragic shortcomings and perilous fallacies of human intuition is education, but education in economics, evolutionary biology, probability and statistics - unfortunately most High School and College curricula have barely changed since Medieval times!”

World Humans School Changed College High School Economics Intuition Cures Tragic Biology Statistics Probability Medieval Shortcomings Fallacy Evolutionary Biology Medieval Times

Author:Steven Pinker

“There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .”

Exercise Commitment Economics Mathematics Intuition Math Mathematical Judgement Statistics Atrophy

Author:John Kenneth Galbraith

“It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.”

Ifs Use Deals Education Clear Theory Economics Mathematics Aids Mathematical Statistics Quantity Calculus

Author:William Stanley Jevons