Economics Quotes - Page 13

• Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat.

  Thomas DiLorenzo

  Cat, Independent, Reality

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• A [tax loophole is] something that benefits the other guy. If it benefits you, it is tax reform.

  Russell B. Long

  Guy, Liberty, Reform

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• According to the Tax Foundation, taxes now consume more than 38% of the average family's budget. That is more than is spent on food, clothing, housing, and transportation combined. Compare this to the plight of medieval serfs. They only had to give the lord of the manor one-third of their output - and they were considered slaves. So what does that make us?

  Daniel J. Mitchell

  Average, Giving, Liberty

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• If you feel driven to feed the poor, get your checkbook out and keep your tyrannical mouth shut about it.

  Lewis Goldberg

  Liberty, Mouths, Libertarian

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• The investigation of causal relations between economic phenomena presents many problems of peculiar difficulty, and offers many opportunities for fallacious conclusions. Since the statistician can seldom or never make experiments for himself, he has to accept the data of daily experience, and discuss as best he can the relations of a whole group of changes; he cannot, like the physicist, narrow down the issue to the effect of one variation at a time. The problems of statistics are in this sense far more complex than the problems of physics.

  Udny Yule

  Science, Opportunity, Data

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• Let all men know how empty and powerless is the power of kings. For there is none worthy of the name but God, whom heaven, earth and sea obey

  Cnut the Great

  Kings, Ignorance, Men

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• Consciousness permits us to develop the instruments of culture - morality and justice, religion, art, economics and politics, science and technology. Those instruments allow us some measure of freedom in the confrontation with nature.

  Antonio Damasio

  Art, Technology, Justice

  "Self Comes to Mind". Interview with Jonah Lehrer, www.wired.com. November 8, 2010.

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• To predict the future we would have to know today what we will learn tomorrow which will shape our future actions

  Douglass North

  Ignorance, Shapes, Today

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• There is not some glorious theoretical synthesis of capitalism that you can write down in a book and follow. You have to grope your way

  Robert Solow

  Book, Writing, Ignorance

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• The self-anointed media elite among us believe, somewhat self-servingly, that not only the act, or process of making a profit is positively sinister, but also that the very desire to do so is.

  Lachlan Murdoch

  Business, Believe, Self

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• The Western societies which espouse free market capitalism survive by the pursuit of greed and, in their own way, like Communism, throw into leadership men and women (mostly men) who know how to gain, exert and manipulate power.

  Davis McCaughey

  Leadership, Business, Men

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• ... what we should be looking for is fresh ideas of how we make moral decisions about our dealings with one another, economic, social, cultural. Economic determinism is an objectionable creed where men and women espouse it in its communist or capitalist form because it treats human beings as economic units and not as responsible persons.

  Davis McCaughey

  Leadership, Business, Men

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• You can't feel the need to be liked in public life, because if you do you will compromise the principles that are so important to the public having confidence in your ethics and integrity.

  Graeme Samuel

  Leadership, Business, Integrity

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• If you are given a public responsibility, you have to listen, weigh up all the issues, but ultimately you have to form a view of what you genuinely think is in the public interest... put the public interest above the vested interest.

  Graeme Samuel

  Leadership, Business, Responsibility

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• We are far more effective on the inside looking out than the outside looking in.

  Helen Lynch

  Leadership, Business, Outside Looking In

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• One of the most important responsibilities of leaders in any setting - including business organisations - is to tell us our own story; to explain us to ourselves; to help us weave some meaning and purpose into the fabric of our lives; to illuminate our understanding of where we have come from; to paint word pictures of our future onto which we can project our aspirations.

  Hugh Mackay

  Leadership, Business, Responsibility

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• It stems from my Australianisms and belief that everyone is a fundamental cog in the wheel.

  Janet Holmes a Court

  Leadership, Business, Cogs

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• Money is misunderstood. The fact is if you want to be successful - the money will follow you. If you are a doctor, something else will follow you. If you are successful there is an accompaniment. If your goal is just to make money you won't succeed. Money is a commodity to use, not to be dictated by.

  Frank Lowy

  Wisdom, Business, Successful

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• What we are beginning to witness is a whole new set of rules for economics, based on rationing resources.

  John Prescott

  Energy, Environment, Climate Change

  "UN climate change deal needs more sacrifices by West, John Prescott warns" by Patrick Wintour, www.theguardian.com. August 7, 2009.

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• Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.

  Simon McKeon

  Leadership, Dream, Business

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• We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.

  Paul Krugman

  Running, Government, Debt

  "Paul Krugman: 'I'm sick of being Cassandra. I'd like to win for once'" by Decca Aitkenhead, www.theguardian.com. June 3, 2012.

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• I have the same confidence in the ability of our people to reject noxious literature as I have in their capacity to sort out the true from the false in theology, economics, or any other field.

  William O. Douglas

  People, Literature, Fields

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• Politics is about power. It is about the power of the state. It is about the power of the state as applied to individuals, the society in which they live and the economy in which they work. Most critically, our responsibility in this parliament is how that power is used: whether it is used for the benefit of the few or the many.

  Kevin Rudd

  Leadership, Responsibility, Power

  Kevin Rudd (2017). “Not for the Faint-hearted: A Personal Reflection on Life, Politics and Purpose 1957-2007”, p.9, Macmillan Publishers Aus.

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• We are ignorant of what it is we do not know even though we know more than we can ever say

  G. L. S. Shackle

  Ignorance, Ignorant, Knows

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• Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.

  Kenneth E. Boulding

  Addiction, Growth, Cost

  Kenneth E. Boulding (1985). “Collected Papers: Toward the Twenty-First Century : Political Economy, Social Systems, and World Peace”, University Press of Colorado

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