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Economics Quotes

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Economics Quotes

“From the equilibrium and spontaneous order of Adam Smith and his heirs, from invisible-handed markets and perfect competition, supply and demand, and rewards and punishments, I was pushed to theories of disequilibrium and disorder, and information and noise, as the keys to understanding economic progress.”

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

“The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.”

Ifs World Real Enough Understanding Interest Economy Worst Essentials Lows Economics Rate Financial Zero Messed Up Interest Rate World Economy Financial System

Author:Paul Krugman

“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

“I was 25 years old and pursuing my doctorate in economics when I was allowed to spend six months of postgraduate studies in Naples, Italy. I read the Western economic textbooks and also the more general work of people like Hayek. By the time I returned to Czechoslovakia, I had an understanding of the principles of the market. In 1968, I was glad at the political liberalism of the Dubcek Prague Spring, but I was very critical of the Third Way they pursued in economics.”

“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.”

“One of the most important responsibilities of leaders in any setting - including business organisations - is to tell us our own story; to explain us to ourselves; to help us weave some meaning and purpose into the fabric of our lives; to illuminate our understanding of where we have come from; to paint word pictures of our future onto which we can project our aspirations.”

“Modern economics is sick. Economics has increasingly become an intellectual game played for its own sake and not for its practical consequences for understanding the economic world. Economists have converted the subject into a sort of social mathematics in which analytical rigour is everything and practical relevance is nothing.”

World Games Social Understanding Economic Modern Subjects Intellectual Consequence Economics Sick Mathematics Sake Practicals Economist Relevance Rigour

Author:Mark Blaug

“The understanding which has driven New Labour's reform is to put the individual citizen - the patient, the parent, the pupil, the law abiding citizen - at the centre of each public service, with the service reformed to meet their individual requirements”

Law Individual Parent Understanding Citizens Economics Patient Driven Reform Labour Requirements Centre Abiding Public Service Pupils Law Abiding Citizen

Author:Tony Blair

“I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour”

Humans Understanding Economic Approach Economics Valuable Behaviour Framework Unified Human Behaviour

Book:The essence of Becker

Source: The essence of Becker

“No one will really understand politics until they understand that politicians are not trying to solve our problems. They are trying to solve their own problems - of which getting elected and re-elected are number one and number two. Whatever is number three is far behind.”

Trying Two Problem Political Three Politics Understanding Numbers Behinds Politician Economics Election Solve African American Problems And Solutions Number Three Career Politicians Politics And Economics

Book:Dismantling America and Other Controversial Essays (Large Print 16pt)

Source: Dismantling America and Other Controversial Essays (Large Print 16pt)

“People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.”

“A passion for continual learning, a refined, discerning ear for the moral and ethical consequences of their actions, and an understanding of the purposes of work and human organisations”

Humans Action Purpose Passion Understanding Business Moral Consequence Economics Ears Management Ethical Organisation Refined Discerning

Author:Warren G. Bennis

“The New Capitalism (arising from the global economic downturn)...those running our biggest commercial businesses will have to be more visible. They'll have to manifest a genuine understanding not only of the anxieties of their employees but of all taxpayers. Those chief executives who succeed will be those who imbue in their businesses very simple, commonsense standards of decency”

“This is a timely and relevant initiative. The environmental challenges facing Singapore and the region are becoming more complex. Tackling them will require inter-disciplinary approaches combined with a good understanding of science, economics and governance aspects. The NUS Bachelor of Environment programme will fill a much needed gap in the current framework. NEA is pleased to be a partner to this programme.”

“Marxian exploitation is the exploitation of people's lack of understanding of economics.”

People Understanding Economics Exploitation Lack Of Understanding

Book:Anarchy, state, and utopia

Source: Anarchy, state, and utopia

“If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.”

“Understanding economics can help you make better decisions and lead a happier life.”

Helping Understanding Decision Economics Happier Life

Author:Tyler Cowen