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Economists Quotes
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What we owe future generations is the subject of growing debate by economists, philosophers, ethicists, public policymakers, and academics of all stripes. But for me as a mother, the moral implications are very clear. We owe them clean air and fresh water, a healthy planet and a secure future (Economists Quotes)
To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply (Economists Quotes)
We’ve had a number of economists supporting our legislation. And here’s where we are. The American people can judge. Six largest financial institutions in America today have assets of roughly $10 trillion; equivalent to 58 percent of the GDP of the United States of America (Economists Quotes)
I am one of the most successful economists, according to what markets tell us, though most of my professional colleagues, who are much keener to accept market outcomes than I am, would dismiss me as a crank or - the worst of all abuses among economists - a ‘sociologist.’ (Economists Quotes)
Economists agree about economics - and that’s a science - and they disagree about economic policy because that’s a value judgment... I’ve had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree. (Economists Quotes)
Many economists are great believers in the idea that everything in nature is competitive and that we should set up a society which is competitive to reflect that. Anyone who cannot keep up, well, too bad. (Economists Quotes)
Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn’t seem worth counting. (Economists Quotes)
Economists love to talk about incentives, but the bottom line is that people hate being controlled or manipulated, even when done through voluntary institutions. This is one of the most important tensions in capitalism. (Economists Quotes)
Nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don’t own any gold. They’re all stocked up in equities. (Economists Quotes)
Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused. (Economists Quotes)
Like a bottle of wine or a promising college quarterback turning pro, C.E.O.’s are similar to what economists call experience goods: you commit to a price long before you know if they’re worth it. (Economists Quotes)
...capitalism is too important and complex a subject to be left to economists. Achieving a critical comprehension of it requires perspectives beyond those characteristic of modern economics. That is why this is a history not of economic ideas, but of ideas beyond the capitalist economy. (Economists Quotes)
Scratch the surface at conservative think tanks and universities that house free-market economists, and it’s not hard to find proponents of a carbon tax. (Economists Quotes)
That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950. (Economists Quotes)
Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry, the more credible you become. (Economists Quotes)
We have lots of evidence that putting investments in early childhood education, even evidence from very hard-nosed economists, is one of the very best investments that the society can possibly make. And yet we still don’t have public support for things like preschools. (Economists Quotes)
Some economists believe that the Greeks’ work ethic and thrift can pull them through. But the classical virtues can do nothing to offset the dearth of innovation that plagues the economy. (Economists Quotes)
Ever since economists revealed how much universities contribute to economic growth, politicians have paid close attention to higher education. (Economists Quotes)
Economists who have studied the relationship between education and economic growth confirm what common sense suggests: The number of college degrees is not nearly as important as how well students develop cognitive skills, such as critical thinking and problem-solving ability. (Economists Quotes)
Economists report that a college education adds many thousands of dollars to a man’s lifetime income - which he then spends sending his son to college. (Economists Quotes)
The biggest downside of my current job is that I have to wear a suit to work. Wearing uncomfortable clothes on purpose is an example of what former Princeton hockey player and Nobel Prize winner Michael Spence taught economists to call ‘signaling.’ (Economists Quotes)
Economists are coming to acknowledge that measures of national wealth and poverty in terms strictly of average income tell you little that is significant of the health or viability of a society. (Economists Quotes)
If Mexican farm labor is so much cheaper, maybe we should be growing our fruits and vegetables in Mexico. There’s absolutely no reason to import Mexicans to do something they could do at home and then sell to us. I believe this is what economists call competitive advantage. (Economists Quotes)
Economists treat economics as if it is a pure science divorced from the facts of life. The result of this false accountancy is a willful confusion under cover of which industry wreaks its havoc scot-free and ignores the environmental cost. (Economists Quotes)
Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008. (Economists Quotes)
People who are rich find it hard to understand the behavior of poor people. Economists are no exception, for they, too, find it difficult to comprehend the preferences and scarcity constraints that determine the choices that poor people make. (Economists Quotes)
Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances, minimum wages can be beneficial, as it makes workers more productive. (Economists Quotes)
What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy itself. When they say we need to insulate economic policies from politics, they are in effect advocating the castration of democracy. (Economists Quotes)
The IMF economists were doubtless shaken by the extreme failures of their prescriptions over many years, and by the collapse of the intellectual edifice of economic theory on which they were relying. (Economists Quotes)
...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. (Economists Quotes)