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Terms Of Service
Quotes by Economists
It takes considerable knowledge just to realize the extent of your own ignorance.
Science is the great antidote to the poison of enthusiasm and superstition.
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
Ideas shape the course of history.
John Maynard Keynes
Under capitalism, man exploits man. Under communism, it's just the opposite.
John Kenneth Galbraith
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich August von Hayek
Finance is not merely about making money. It's about achieving our deep goals and protecting the fruits of our labor. It's about stewardship and, therefore, about achieving the good society.
Robert J. Shiller
Globalization and free trade do spur economic growth, and they lead to lower prices on many goods.
In my experience, poor people are the world's greatest entrepreneurs. Every day, they must innovate in order to survive. They remain poor because they do not have the opportunities to turn their creativity into sustainable income.
Lacking the direct test of success or failure, the voter tends to turn, not to those politicians whose measures have the best chance of success, but to those with the ability to 'sell' their propaganda. Without grasping logical chains of deduction, the average voter will never be able to discover the error that the ruler makes.
Either one lives 'for' politics or one lives 'off' politics.
Economics is a choice between alternatives all the time. Those are the trade-offs.
There can be no rise in the value of labour without a fall of profits.
Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life.
Change can be frightening, and the temptation is often to resist it. But change almost always provides opportunities - to learn new things, to rethink tired processes, and to improve the way we work.
One finds limits by pushing them.
Herbert A. Simon
Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.'
Ask five economists and you'll get five different answers - six if one went to Harvard.
What I'm not saying is that all government spending is bad. It's not - far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble without putting someone else into trouble.
The 1920s and 1930s were a period of sensational productivity growth: new products were springing up all over the place, and most of those new products and new methods were developed by people who started their own companies.
Memorable occasions should be brief, and so should be the expressions of appreciation.
It is to be observed that 'angling' is the name given to fishing by people who can't fish.
The constant effort towards population, which is found even in the most vicious societies, increases the number of people before the means of subsistence are increased.
The most difficult part of Brexit will be to figure out the trade regime between the U.K. and the rest of the E.U. because the level of trade integration between the members of the E.U. is the deepest in the world and integrates regulations that govern how products and services are produced and sold within the E.U.
Gender equality is essential for ensuring that men and women can contribute fully at home, at work, and in public life for the betterment of societies and economies at large.
Jose Angel Gurria
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