Economics Quotes - Page 37

• 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. . .

  John Kenneth Galbraith

  Commitment, Math, Exercise

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• Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.

  Thomas Sowell

  Black, Quality, Deterioration

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• It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.

  John Maynard Keynes

  Believe, Thinking, Long

  John Maynard Keynes (2006). “General Theory Of Employment , Interest And Money”, p.7, Atlantic Publishers & Dist

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• Advertising is, actually, a simple phenomenon in terms of economics. It is merely a substitute for a personal sales force - an extension, if you will, of the merchant who cries aloud his wares.

  Rosser Reeves

  Simple, Advertising, Cry

  Rosser Reeves (1961). “Reality in Advertising”, p.129, BookBaby

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• The biblical lifestyle is always a witness of resistance to the status quo in politics, economics, and all society. It is a witness of resurrection from death. Paradoxically, those who embark on the biblical witness constantly risk death - through execution, exile, imprisonment, persecution, defamation, or harassment - at the behest of the rulers of this age. Yet those who do not resist the rulers of the present darkness are consigned to a moral death, the death of their humanness. That, of all the ways of dying, is the most ignominious.

  William Stringfellow

  Biblical, Darkness, Risk

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• I'm a catalyst for change. You can't be an outsider and be successful over 30 years without leaving a certain amount of scar tissue around the place.

  Rupert Murdoch

  Success, Business, Years

  "Rupert Murdoch: Protector of the printed word" by James Robinson, www.theguardian.com. August 8, 2009.

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• Economics dominates politics - and with that domination comes different forms of ruthlessness.

  Chris Hedges

  Different, Ruthlessness, Form

  Chris Hedges (2010). “Empire of Illusion: The End of Literacy and the Triumph of Spectacle”, p.146, Nation Books

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• Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.

  George Soros

  Objectivity, Investing, Matter

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.11, John Wiley & Sons

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• The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).

  George Soros

  Real, Exercise, Investing

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.20, John Wiley & Sons

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• What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.

  Lawrence Summers

  Powerful, Views, Hands

  "The Commanding Heights". Book by Daniel Yergin and Joseph Stanislaw, 1998.

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• Economics is too important to leave to the economists.

  Steve Keen

  Important, Economist

  Steve Keen (2001). “Debunking Economics: The Naked Emperor of the Social Sciences”, p.9, Zed Books

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• Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.

  John Kenneth Galbraith

  Horse, Oats, Sides

  "Recession Economics". New York Review of Books, Volume 29, Number 1, February 04, 1982.

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• Conventional economics is a form of brain damage.

  David Suzuki

  Brain, Damage, Form

  "David Suzuki and Jeff Rubin form an unlikely alliance" by Monique Beaudin, montrealgazette.com. November 4, 2012.

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• Now, of course, cold fusion is the daddy of them all in a way, in terms of value, so I think that viewed in a social way, from the point of social considerations and economics, it will tell you that this thing will stay around.

  Martin Fleischmann

  Thinking, Daddy, Fusion

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• 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.

  William Stanley Jevons

  Education, Statistics, Use

  "The Theory of Political Economy". Book by William Stanley Jevons, Chapter I, Introduction, 1871.

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• To be sure, mathematics can be extended to any branch of knowledge, including economics, provided the concepts are so clearly defined as to permit accurate symbolic representation. That is only another way of saying that in some branches of discourse it is desirable to know what you are talking about.

  James R Newman

  Knowledge, Math, Talking

  James R. Newman (2000). “The World of Mathematics”, p.1200, Рипол Классик

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• It’s not about revenues: the fundamental economics in digital business is scale and margins. The top line has become the bottom line.

  Yuri Milner

  Fundamentals, Lines, Digital

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• The Sherman Act is similar in the economics sphere to the Bill of Rights in the personal sphere.

  Harold H. Greene

  Rights, Spheres, Bills

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• I started in college as a business major and finally transferred to home economics and studied making clothes.

  Phillip Lim

  Home, College, Clothes

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• Moore's law is really about economics.

  Gordon Moore

  Law, Moore's Law

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

  Robert Nozick

  People, Understanding, Exploitation

  Robert Nozick (1974). “Anarchy, state, and utopia”

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• Economics is a form of brain damage.

  Hazel Henderson

  Brain, Damage, Form

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• The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise ... economics is a form of brain damage.

  Hazel Henderson

  Brain, Damage, Problem

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• The issue of universal coverage is not a matter of economics. Little more than 1 percent of GDP assigned to health could cover all. It is a matter of soul.

  Uwe Reinhardt

  Gdp, Issues, Soul

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• At its heart, this book touches on a mystery of economics: what exactly is happening in our world, and why does it often work so well? As the authors show, apparently messy systems - such as untidy desks - actually exhibit a high degree of order: the piles of paper are close to hand, and the most important documents tend to make their way to the top while un-needed ones sink to the bottom. If the mess works, why mess with it?

  Nicholas Blincoe

  Book, Heart, Our World

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