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Economics is a subject that does not greatly respect one's wishes.
Economics has never been a science - and it is even less now than a few years ago.
We've switched from a culture that was interested in manufacturing, economics, politics - trying to play a serious part in the world - to a culture that's really entertainment-based.
The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.
If, in our haste to 'progress,' the economics of ecology are disregarded by citizens and policy makers alike, the result will be an ugly America. We cannot afford an America where expedience tramples upon esthetics and development decisions are made with an eye only on the present.
A large part of crime is economics - if people are working and and have a home and family to support, then I believe you can reduce the crime rate.
Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
There's a snobbery at work in architecture. The subject is too often treated as a fine art, delicately wrapped in mumbo-jumbo. In reality, it's an all-embracing discipline taking in science, art, maths, engineering, climate, nature, politics, economics.
I love the gallery, the arena of representation. It's a commercial world, and morality is based generally around economics, and that's taking place in the art gallery.
Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.
When you as a designer design something that burdens a community with maintenance and old world technology, basically failed developed world technology, then you will crush that community way beyond bad design; you'll destroy the economics of that community, and often the community socially is broken.
Pirates are the very essence of profit maximising entrepreneurs described in neoclassical economics. Yet, whilst films such as 'The Pirates of the Caribbean' and 'Butch Cassidy and the Sundance Kid' have gone a long way to popularise both pirates and outlaw behaviour, the truth of the matter is that piracy is illegal, and it kills.
Economics is about creating win-win situations. But in sports, someone loses.
I was going to get a degree in economics and be a teacher. But I couldn't afford to pay for the education. So I just got the MBA and not the doctorate. I loved it at Bain, and I've been there ever since.
The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.
Cutting budget deficits can never be just an exercise in economics.
When goods are digital, they can be replicated with perfect quality at nearly zero cost, and they can be delivered almost instantaneously. Welcome to the economics of abundance.
First of all, just because the Tea Party people appear to be generally uneducated, ignorant about the political process, ignorant about economics, confused about their own platform from the beginning, and indelicate when it comes to the craft of diplomacy, doesn't mean they're wrong.
Steven Van Zandt
So much has happened to obscure the dialogue about race and about gender and discrimination in general, especially where those things touch on economics.
Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.
It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like Homer Simpson than Superman. So from this perspective it is rather depressing. But at the same time there is also a silver lining. There are free lunches!
In economics, the majority is always wrong.
John Kenneth Galbraith
It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
Friedrich August von Hayek
Our trust in the future has lost its innocence. We know now that anything can happen from one minute to the next. Politics, religion, economics, and the institutions of family and community all have become abruptly unsure.
I call crony capitalism, where you take money from successful small businesses, spend it in Washington on favored industries, on favored individuals, picking winners and losers in the economy, that's not pro-growth economics. That's not entrepreneurial economics. That's not helping small businesses. That's cronyism, that's corporate welfare.
William Arthur Ward
Martin Luther King, Jr.
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