Economics Quotes - Page 14

• 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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• 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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• Investing is the intersection of economics and psychology.

  Seth Klarman

  Intelligent, Psychology, Investing

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• To top it off, for those of you who are interested in the economics, it costs more to pursue a capital case toward execution than it does to have full life imprisonment without parole.

  Ralph Nader

  Doe, Cost, Execution

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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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• 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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• The inscrutability [of economics] is perhaps not unintentional. It gives endless employment to dialecticians who otherwise might become public charges or, at very worst, swindlers and tricksters.

  Jack Vance

  Giving, Employment, Might

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• Among the current discussions, the impact of new and sophisticated methods in the study of the past occupies an important place. The new 'scientific' or 'cliometric' history-born of the marriage contracted between historical problems and advanced statistical analysis, with economic theory as bridesmaid and the computer as best man-has made tremendous advances in the last generation.

  Robert Fogel

  Science, Past, Men

  Robert William Fogel, Geoffrey Rudolph Elton (1983). “Which Road to the Past?: Two Views of History”, p.2, Yale University Press

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• Among the social sciences, economists are the snobs. Economics, with its numbers and graphs and curves, at least has the coloration and paraphernalia of a hard science. It's not just putting on sandals and trekking out to take notes on some tribe.

  Michael Kinsley

  Curves, Numbers, Tribes

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• The engineer who counts cost as nothing as compared to the result, who holds himself above the consideration of dollars and cents, has missed his vocation.

  Coleman Sellers II

  Dollars, Cost, Consideration

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• The monogram of our national initials, which is the symbol for our monetary unit, the dollar, is almost as frequently conjoined to the figures of an engineer's calculations as are the symbols indicating feet, minutes, pounds, or gallons. ... This statement, while true in regard to the work of all engineers, applies particularly to that of the mechanical engineer.

  Henry R. Towne

  Feet, Dollars, Pounds

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• Coining "Dismal Science" as a nickname for Political Economy

  Thomas Carlyle

  Political, Nicknames, Economy

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• Well, gentlemen, life's just one damn thing after another.

  John Dustin Archbold

  Gentleman, Damn, Wells

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• ...quantity is not necessarily synonymous with quality and brilliant ideas are not a function of the number of titles printed.

  Carlo M. Cipolla

  Ideas, Numbers, Quality

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• As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect.

  John Bates Clark

  Progress, Here And There, Records

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• It takes resolution to go forth from the ease and beautiful simplicity of a well-formed hypothesis and struggle with amorphous facts.

  John Maurice Clark

  Beautiful, Struggle, Simplicity

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• We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather than dispelled by the political organization, exert a strong influence on policy making.

  Ronald Coase

  Strong, Taken, Ignorance

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• The analyses ... often become too competent to be comprehensible.

  Avinash Dixit

  Analysis, Competent

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• Economic controversy is generally a thankless task. You cannot hope to make any impression on your opponent. Yet he is the only reader on whose interest you can count.

  Francis Ysidro Edgeworth

  Tasks, Opponents, Impression

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• Everyone knows, or has strongly suspected, that capital theory is difficult.

  Charles Ferguson

  Theory, Difficult, Knows

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• There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.

  John Kenneth Galbraith

  Wise, Scope, Should

  John Kenneth Galbraith (2001). “The Essential Galbraith”, p.12, Houghton Mifflin Harcourt

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• I know. You know I know. I know you know I know. We know Henry knows and Henry knows we know it. We're a knowledgeable family.

  James Goldman

  Knowledgeable, Knows

  "Fictional character: Geoffrey". "The Lion in Winter", www.imdb.com. 2003.

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• ...the institutional arrangement whereby most professional economists are heavily burdened with teaching and administrative duties may militate against a sufficient admixture of the more laborious forms of statistical and field work.

  Sir Henry Roy Forbes Harrod

  Teaching, May, Fields

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• Everything is on such a clear financial basis in France. It is the simplest country to live in. No one makes things complicated by becoming your friend for any obscure reason. If you want people to like you you have only to spend a little money. I spent a little money and the waiter liked me. He appreciated my valuable qualities. He would be glad to see me, and would want me at his table. It would be a sincere liking because it would have a sound basis. I was back in France.

  Ernest Hemingway

  Country, People, Quality

  Ernest Hemingway (2016). “The Sun Also Rises”, p.119, Hamilton Books

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• Some of the most serious fallacies of traditional economics have been due to confusion between optimum and equilibrium conditions; the apparent influence of Dr. Pangloss upon the development of economic thought is for the most part nothing but pure intellectual error.

  Sir John Richard Hicks

  Errors, Confusion, Intellectual

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