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Economics Quotes

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Economics Quotes

“The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.”

Humans War Use Age Theory Conflict Achievement Economics Destruction Violent Peaceful Civil War Cooperation Branded Harbinger

Book:Economic freedom and interventionism: an anthology of articles and essays

Source: Economic freedom and interventionism: an anthology of articles and essays

“You must know the big ideas in the big disciplines, and use them routinely - all of them, not just a few. Most people are trained in one model - economics, for example - and try to solve all problems in one way. You know the old saying: to the man with a hammer, the world looks like a nail. This is a dumb way of handling problems.”

People Knows Men World Way Trying Looks Ideas Use Problem Bigs Example He Man Discipline Models Economics Solve One Way Dumb Nails Hammers Old Saying Big Ideas Handling Problems

Author:Charlie Munger

“For what will it profit men that a more prudent distribution and use of riches make it possible for them to gain even the whole world, if thereby they suffer the loss of their own souls? What will it profit to teach them sound principles in economics, if they permit themselves to be so swept away by selfishness, by unbridled and sordid greed, that hearing the commandments of the Lord, they do all things contrary.”

Source: On Social Reconstruction: Encyclical Letter