Economic Quotes - Page 6

• The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

  Thomas Sowell

  Scarcity, Lessons, Politics

  Thomas Sowell (1993). “Is Reality Optional?: And Other Essays”, Hoover Inst Press

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• Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests.

  Henry Hazlitt

  Selfish, Men, Medicine

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.11, Crown Business

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• The only function of economic forecasting is to make astrology look respectable.

  John Kenneth Galbraith

  Astrology, Looks, Favourite

  "Biography/ Personal Quotes". www.imdb.com.

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• Education remains the key to both economic and political empowerment.

  Barbara Jordan

  Education, Keys, Political

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• Innovation is the central issue in economic prosperity.

  Michael Porter

  Creativity, Issues, Innovation

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• Often, what you see in the media is driven by economic forces.

  Iris Chang

  Media, Driven, Force

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  Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

  Milton Friedman

  Party, Pie, Liberty

  Milton Friedman, Rose Friedman (1990). “Free to Choose: A Personal Statement”, p.31, Houghton Mifflin Harcourt

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• I think we're miserable partly because we have only one god, and that's economics.

  James Hillman

  Thinking, Miserable, Economics

  "On Soul, Character and Calling: A Conversation with James Hillman". Interview with Scott London, www.scottlondon.com. March 1998.

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• My father's generation gave to my generation a land of wealth and purpose and world economic dominance.

  Paul Tsongas

  Father, Land, Generations

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• Folks in the bottom half of the economy are already squeezed hard. They will be bloodied and bankrupt if economic policy inadvertently induces a recession.

  William Greider

  Half, Economy, Folks

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• [E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics

  Ludwig von Mises

  Government, Law, Long

  Ludwig Von Mises (1963). “Human action: a treatise on economics”

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• Cities are, first of all, seats of the highest economic division of labor.

  Georg Simmel

  Cities, Division Of Labor, Firsts

  Georg Simmel, Kurt H. Wolff (1950). “The Sociology of Georg Simmel”, p.420, Simon and Schuster

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• First of all, I am not an expert on matters on different economic systems, but in my normal social intercourse with my friends we discussed matters like that.

  Julius and Ethel Rosenberg

  Experts, Different, Matter

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• 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.

  James Thurber

  Animal, Men, Law

  James Thurber (1990). “Collecting Himself: James Thurber on Writing and Writers, Humor and Himself”

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• The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

  Ernest Hemingway

  War, Political, Ruins

  Ernest Hemingway (2014). “The Hemingway Collection”, p.4177, Simon and Schuster

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• We all knew this. We all knew that it would take more time than any of us want to dig ourselves out of this hole created by this economic crisis.

  Barack Obama

  Want, Holes, More Time

  "President Obama Speaks in Wisconsin". "Rick's List" with Rick Sanchez, edition.cnn.com. September 6, 2010.

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• Mystical references to society and its programs to help may warm the hearts of the gullible but what it really means is putting more power in the hands of bureaucrats.

  Thomas Sowell

  Heart, Mean, Hands

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• It is part of my faith as a Muslim to try to help those who are suffering from poverty or economic or political injustice.

  Cat Stevens

  Political, Suffering, Trying

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• I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.

  Lawrence Summers

  Country, Thinking, Toxic Waste

  "Furor on Memo At World Bank". www.nytimes.com. February 7, 1992.

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• No matter what political reasons are given for war, the underlying reason is always economic.

  A. J. P. Taylor

  Peace, War, Political

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• Always leave enough time in your life to do something that makes you happy, satisfied, even joyous. That has more of an effect on economic well-being than any other single factor.

  Paul Hawken

  Life, Happiness, Success

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• Economic advance is not the same thing as human progress.

  John Clapham

  Progress, Society, Environmental

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• Education is both a tool of social justice as well as a fundamental driver of economic development.

  Kevin Rudd

  Education, Justice, Tools

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• Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.

  Paul Samuelson

  Political, Support, Growth

  "The Dollar Crisis: Causes, Consequences, Cures". Book by Richard Duncan, p. 232, 2003.

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• If a tax cut increases government revenues, you haven't cut taxes enough.

  Milton Friedman

  Cutting, Government, Politics

  "Milton Friedman's Last Lunch" by Mark Skousen, www.forbes.com. November 24, 2006.

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