Economics Quotes - Page 8

• In economics, the majority is always wrong.

  John Kenneth Galbraith

  Inspirational, Majority, Investing

  John Kenneth Galbraith (1969). “Ambassador's Journal”

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• Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

  Ronald Reagan

  Freedom, Military, Moving

  Remarks to state chairs of National White House Conference on Small Business, 15 Aug. 1986

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• No nation was ever ruined by trade.

  Benjamin Franklin

  Business, Liberty, Libertarian

  Benjamin Franklin, William-Temple Franklin (1818). “Memoirs of the Life and Writings of (the Same), Continued to the Time of His Death by William Temple Franklin. - London, H. Colburn 1818”, p.157

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• Religion and art spring from the same root and are close kin. Economics and art are strangers.

  Nathaniel Hawthorne

  Art, Spring, Roots

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• Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.

  Ludwig von Mises

  Capitalist Economy, Liberty, Libertarian

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• It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

  Henry Ford

  Money, Morning, Believe

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• Experience demands that man is the only animal which devours his own kind, for I can apply no milder term to the general prey of the rich on the poor.

  Thomas Jefferson

  Men, Animal, Economic Inequality

  Letter to Colonel Edward Carrington, 16 January 1787

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• No economy, no matter how bad, can hold down a goal that is followed by enough action.

  Grant Cardone

  Inspirational, Goal, Entrepreneur

  Twitter post from Apr 04, 2017

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• I want to be remembered as someone who put India on the scientific map of the world in terms of large innovation. I want to be remembered for making a difference to global healthcare. And I want to be remembered as someone who did make a difference to social economic development in India.

  Kiran Mazumdar-Shaw

  Differences, Entrepreneur, Innovation

  "$800 million biotech business started in a garage" by Becky Anderson, www.cnn.com. November 15, 2012.

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• The vocabulary of the political left is fascinating. For example, it is considered to be 'materialistic' and 'greedy' to want to keep what you have earned. But it is 'idealistic' to want to take away what someone else has earned and spend it for your own political benefit or to feel good about yourself.

  Thomas Sowell

  Money, Vocabulary, Political

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• Our goal is not to assume leadership of existing institutions, but rather to render them irrelevant. We don't want to take over the state or change its policies. We want to render its laws unenforceable. We don't want to take over corporations and make them more 'socially responsible.' We want to build a counter-economy of open-source information, neighborhood garage manufacturing, permaculture, encrypted currency and mutual banks, leaving the corporations to die on the vine along with the state. We do not hope to reform the existing order. We intend to serve as its grave-diggers.

  Kevin Carson

  Change, Order, Law

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• The farmer and manufacturer can no more live without profit than the labourer without wages.

  David Ricardo

  Business, Wages, Farming

  David Ricardo, John Ramsay McCulloch (1852). “The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch”, p.68

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• Let us remember that the automatic machine is the precise economic equivalent of slave labor. Any labor which competes with slave labor must accept the economic consequences of slave labor.

  Norbert Wiener

  Technology, Slave Labor, Machines

  Norbert Wiener (1988). “The Human Use Of Human Beings: Cybernetics And Society”, p.112, Hachette UK

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• There is no reason to believe that bureaucrats and politicians, no matter how well meaning, are better at solving problems than the people on the spot, who have the strongest incentive to get the solution right.

  Elinor Ostrom

  Believe, People, Incentives

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• The more one considers the matter, the clearer it becomes that redistribution is in effect far less a redistribution of free income from the richer to the poorer, as we imagined, than a redistribution of power from the individual to the State.

  Bertrand de Jouvenel

  Power, Government, Matter

  Baron Bertrand de Jouvenel, Bertrand De Jouvenel (2010). “The Ethics of Redistribution”, p.73, Cambridge University Press

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• If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.

  Dave Ramsey

  Money, Cutting, Government

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• A favorite Wired icon for the information feedback loop, a dragon curling in a circle to swallow its own tail, could become more apt as a symbol of the timeless libertarian paradox: Monopoly verging on feudalism emerges from unregulated competition to bite libertarianism in the posterior.

  Jedediah Purdy

  Dragons, Circles, Icons

  "The God of the Digerati". Essay in the American Prospect Magazine, prospect.org. March-April 1998.

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• Practically all government attempts to redistribute wealth and income tend to smother productive incentives and lead toward general impoverishment.

  Henry Hazlitt

  Government, Income, Incentives

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.228, Crown Business

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• The capitalist workplace is one of the most profoundly undemocratic institutions on the face of the Earth. Workers have no say over decisions affecting them. If workers sat on the board of directors of democratically operated self-managed enterprises, they wouldn't vote for the wildly unequal distribution of profits to benefit a few and for cutbacks for the many.

  Richard D. Wolff

  Self, Decision, Voting

  "The Progressive Interview". Interview with Ed Rampell, www.democracyatwork.info. April 10, 2014.

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• It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.

  Julian Simon

  Running, Knowledge, Hands

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• Few things help an individual more than to place responsibility upon him, and to let him know that you trust him.

  Booker T. Washington

  Inspirational, Inspiring, Success

  "Up from Slavery".

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• Do you realize that the 850 billion dollar bank bailout, that sum of money is greater than the entire 50 year running budget of NASA. And so when someone says, 'We don't have enough money for this space probe.' No, it's not that you don't have enough money. It's that the distribution of money that you're spending is warped in some way that you are removing the only thing that gives people something to dream about tomorrow.

  Neil deGrasse Tyson

  Running, Dream, Future

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• If you torture the data long enough, it will confess.

  Ronald Coase

  Truth, Knowledge, Data

  "A Comment on Daniel Klein's 'A Plea to Economists Who Favor Liberty'" by Gordon Tullock, Eastern Economic Journal, 2001.

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• Americans need to understand that they have lost their country. The rest of the world needs to recognize that Washington is not merely the most complete police state since Stalinism, but also a threat to the entire world. The hubris and arrogance of Washington, combined with Washington's huge supply of weapons of mass destruction, make Washington the greatest threat that has ever existed to all life on the planet. Washington is the enemy of all humanity.

  Paul Craig Roberts

  Life, Country, Mass Destruction

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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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