Economics Quotes - Page 5

• It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.

  John Ruskin

  Motivational, Running, Business

  "The Yale Book of Quotations". Book by Fred R. Shapiro, p. 657, 2006.

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• Companies that start by redesigning the economics of an industry often finish by redesigning the whole industry-and owning it.

  Tim Ferriss

  Company, Whole, Owning It

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• In all recorded history there has not been one economist who has had to worry about where the next meal would come from.

  Peter Drucker

  Business, Worry, Meals

  "Business Wit & Wisdom". Book by Richard Zera, p. 60, en.wikiquote.org. March 31, 2005.

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• It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.

  George Gilder

  Horse, Years, People

  George Gilder (2013). “Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World”, p.32, Regnery Publishing

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• As a scholarly discipline, economics has always suffered from physics envy.

  Robert Kuttner

  Envy, Discipline, Physics

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• An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

  Laurence J. Peter

  Funny, Business, Future

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• Contrary to economists' beliefs, the informal sectors of the world's economies, in total, are predominant, and the institutionalized, monetized sectors grow out of them and rest upon them, rather than the reverse.

  Hazel Henderson

  World, Belief, Economy

  Hazel Henderson (1988). “The Politics of the Solar Age: Alternatives to Economics”, Knowledge Systems

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• There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.

  Walter Wriston

  Hands, Political, Growing

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• If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash.

  George Washington

  Country, Paper, Body

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• A people... who are possessed of the spirit of commerce, who see and who will pursue their advantages may achieve almost anything.

  George Washington

  People, Banking, May

  George Washington, John Clement Fitzpatrick, David Maydole Matteson (1784). “The Writings of George Washington from the Original Manuscript Sources, 1745-1799”, p.473

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• Beware the greedy hand of government thrusting itself into every corner and crevice of industry.

  Thomas Paine

  Government, Hands, Taxation

  "Rights of Man, Part 2". Book by Thomas Paine. "Introduction", en.wikisource.org. 1792.

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• Economics has never been a science - and it is even less now than a few years ago.

  Paul Samuelson

  Years, Economist, Years Ago

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• At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.

  George Gilder

  Real, Heart, School

  George Gilder (2013). “Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World”, p.4, Regnery Publishing

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• Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household.

  Ludwig von Mises

  Philosophy, Average, Years

  Ludwig Von Mises (1990). “Economic freedom and interventionism: an anthology of articles and essays”

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• One of the Great Rules of Economics According to John Green If you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart to get rich.

  John Green

  Smart, Green, Idiot

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• The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

  Ben Bernanke

  Cutting, Order, Ongoing

  "Helicopter Money" by Richard Duncan, www.businessinsider.com. July 1, 2011.

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• More business is lost every year through neglect than through any other cause.

  Rose Kennedy

  Business, Educational, Reality

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• As a manager the important thing is not what happens when you are there, but what happens when you are not there

  Ken Blanchard

  Business, Important, Management

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• The only security men can have for their political liberty, consists in keeping their money in their own pockets.

  Lysander Spooner

  Men, Political, Liberty

  Lysander Spooner (1973). “No Treason and a Letter to Thomas F. Bayard”

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• You don't have to get a job that makes others feel comfortable about what they perceive as your success. You don't have to explain what your plan to do with your life. You don't have to justify your education by demonstrating its financial rewards. You don't have to maintain an impeccable credit score. Anyone who expects you to do any of those things has no sense of history of economics or science or the arts.

  Cheryl Strayed

  Life, Success, Education

  Cheryl Strayed (2015). “Brave Enough: A Mini Instruction Manual for the Soul”, p.10, Atlantic Books Ltd

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• In order to understand the movement of prices, you need not an oscilloscope to measure the entire market and reduce it to noise, but a microscope to investigate the creative process behind every company and its price.

  George Gilder

  Order, Creative, Needs

  George Gilder (2013). “Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World”, p.35, Regnery Publishing

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• There ain't no such thing as a free lunch.

  Robert A. Heinlein

  Philosophy, Lunch, Political

  The Moon Is a Harsh Mistress ch. 11 (1966).

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• [L]iberty must at all hazards be supported. We have a right to it, derived from our Maker. But if we had not, our fathers have earned and bought it for us, at the expense of their ease, their estates, their pleasure, and their blood.

  John Adams

  Freedom, Father, Blood

  Joseph E. SPRAGUE, John Adams (1826). “An Eulogy on John Adams and Thomas Jefferson, etc”, p.36

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• People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

  Adam Smith

  Invisible Hand, People, Competition

  An Inquiry into the Nature and Causes of the Wealth of Nations vol. 1, bk. 1, ch. 10 (1776)

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• Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.

  Thomas Sowell

  Philosophy, Political, Income Distribution

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