Here, we’ve compiled a list of the best Economics Quotes from famous persons: Peter Schiff, Richard Quest, Oliver E. Williamson, Ian Rankin, Edmund Phelps. The wide variety of quotes available makes it possible to find a quote to suit your needs. You’ve likely heard some of the Economics Quotes before, but that’s because they truly are great.
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Bearing in mind most companies rely on the middle classes in developed countries to sell goods and services throughout the value chain, dealing with inequality is a matter of brutal enlightened self-interest. It’s simple economics: Global stability equals global growth equals profits.
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The field of ‘economics and organization‘ is still young and needs support. I have been a chaired professor much of my academic life and know that such chairs are important for recruiting and retaining faculty.
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Being working class, my parents thought, ‘Ian’s going to uni, the first in the family,’ and I’d do dentistry or accountancy. I was going to do accountancy; then I got a C in Economics and thought, ‘Why am I doing this?’ The only thing I was interested in was books and literature.
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When it comes to talking to your kids about economics, start early beause the progressive culture-makers are starting earlier than you think! Cartoon storylines regularly denegrate competition and other foundational principles of capitalism.
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Economics as currently presented in textbooks and taught in the classroom does not have much to do with business management, and still less with entrepreneurship.
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Economics should not drive you out of the community.
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I gravitated to economics because I’m interested in how people coordinate and collaborate with each other. Economics studies all the ways people get along with each other.
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Besides numerous science courses, I had the opportunity to study philosophy, the history of architecture, economics, and Russian history in courses taught by extraordinarily knowledgeable professors.
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My background educationally is physics and economics, and I grew up in sort of an engineering environment – my father is an electromechanical engineer. And so there were lots of engineery things around me.
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I’m going to teach high school. History and economics. I may even coach wrestling. Hey, Indiana Jones taught school, too.
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While I am interested both in economics and in philosophy, the union of my interests in the two fields far exceeds their intersection.
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But what I really believe is education is a key to pretty much everything – prosperity, economics, peace, stability.
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I took English courses in college, but I don’t have an English degree. I have a degree in economics.
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Having never taken a business class, the economics of restaurants scared me. I opened Chipotle with the idea that I could step away from it and use it to support my full-scale restaurant.
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Years ago, I noticed one thing about economics, and that is that economists didn’t get anything right.
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When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
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To overturn orthodoxy is no easier in science than in philosophy, religion, economics, or any of the other disciplines through which we try to comprehend the world and the society in which we live.
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It’s a question of economics. If you’re paid the same as a man, which now you are in this profession, you’re equal.
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I had the good fortune to spend hours with my parents around the dinner table having debates on politics and economics.
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Survival, in the cool economics of biology, means simply the persistence of one’s own genes in the generations to follow.
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The way I think of it, economics and ecology occupy two intellectual silos, isolated from each other. Even when they do take each other into consideration, it’s not uncommon for ecologists to spout absolute nonsense about economics, and vice versa.
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Economics really pervert every possible good thing that comes, whether it’s food or a cure or a new technological advancement; anything like that is always stopped by who has access to it.
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It was interesting to find how dominating American vision is all over the world. I think there’s something to be said about the world’s mindset and its economics and all of that, and I think it affects the way we see ourselves and it affects music.
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I had never taken any economics. I literally didn’t know what it was. I thought it was just about the study of money.
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The differences between Rand Paul and millennials are vast – not just on economics, but on social issues that matter to young people, too.
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I don’t like stuff that can only go into one set; I want stuff that can be applied across sets. It’s a more real Lego building experience. And, of course, it’s the same from a manufacturing point of view. I want elements that are universal; that gives me the best economics and best utilisation of the mould.
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Game theory is a branch of, originally, applied mathematics, used mostly in economics and political science, a little bit in biology, that gives us a mathematical taxonomy of social life, and it predicts what people are likely to do and believe others will do in cases where everyone’s actions affect everyone else.
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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Because economics is all about optimising, doing the best you can with what you have – it’s usually the first place you should look for answers if you want to maximise your happiness.
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American influence in the world is certainly considerable, but the United States does not control, directly or indirectly, the politics and economics of other societies, as empires have always done, save for a few special cases that turn out to be the exceptions that prove the rule.
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The economics of life is against the family.
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The economics of the space industry are changing. Within so called ‘NewSpace,’ not only are new entrants being created almost daily, the business models and capital sources have proven to be dramatically different from traditional models built upon large government contracts and defence-related spending.
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I practice what has come to be called behavioral economics.
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One of the profound effects of economics in our day is that the people with the money and the power have embraced the guilt-free, external-less, everything-will-turn-out-okay-in-the-end philosophy of economics in order to justify their own evil works. And the economists, for the most part, have sucked up to that money.
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What you get out of an M.B.A. programme, no matter how much experience, is functional tools and understanding in disciplines: you’ll understand economics, you’ll understand marketing, finance, accounting. That, M.B.A. programmes do very well.
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The whole industry is so screwed up by economics. It’s disgusting to me.
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I got into economics because I wanted to make things better for the average person.
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I’ve felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
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My family are quite academic, and I was set to study economics and politics at university.
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I would have a poet able bodied, fond of talking, a reader of the newspapers, capable of pity and laughter, informed in economics, appreciative of women, involved in personal relationships, actively interested in politics, susceptible to physical impressions.
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First of all, just because the Tea Party people appear to be generally uneducated, ignorant about the political process, ignorant about economics, confused about their own platform from the beginning, and indelicate when it comes to the craft of diplomacy, doesn’t mean they’re wrong.
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My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.
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‘Perfect competition’ is considered both the ideal and the default state in Economics 101. So-called perfectly competitive markets achieve equilibrium when producer supply meets consumer demand.
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The special sphere of finance within economics is the study of allocation and deployment of economic resources, both spatially and across time, in an uncertain environment. To capture the influence and interaction of time and uncertainty effectively requires sophisticated mathematical and computational tools.
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As the Wall Street Journal called our economic plan, supply-side economics for the working man, is resonating in Minnesota and here in Missouri and across this country.
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As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability – the difficulty that those who pay for information have in getting returns.
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I’m not a communist, of course. But I do think that everything is down to economics. Capitalism doesn’t change.
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I love Richard Thaler’s ‘Quasi Rational Economics.’ A collection of some of his most interesting and inventive essays, the real foundation of behavioral economics.
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There is such a polarized discussion of economics among people like analysts, columnists, bloggers; often, they end up just saying that views other than their own should not even be discussed. I find that frustrating. There is no intellectual progress without considering lots and lots of different views.
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From 1931 to 1937, I was a Fellow and Lecturer in Economics at Hertford College, Oxford.
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I like Mitt Romney as a person. I think he’s a dignified person. But I have no common ground on economics. He doesn’t worry about the Federal Reserve. He doesn’t worry about foreign policy. He doesn’t talk about civil liberties, so I would have a hard time to expect him to ever invite me to campaign with him.
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And each of these perspectives comes to the same conclusion, which is that our global economy is out of control and performing contrary to basic principles of market economics.
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The great thing about behavioural psychology and economics is that they help us to see that there are actually pretty good reasons why human beings swing from greed to fear, and why we’re not really calculating machines or utility-maximisers.
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To me, economics doesn’t need to be political.
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I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank’s name on business television is to hire a guy called a Chief Economist who will go and prognosticate.
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Since the inauguration of Mr. Lee Myung-bak, I was very much disappointed with his politics and policies. Not only in economics, but also in many social and political issues, he made many mistakes.
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At the beginning of my sophomore year at Princeton University, I took my first economics course; our textbook was the first edition of Samuelson’s ‘Economics: An Introductory Analysis.’
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Making films take a lot of intelligence and is tough, though achieving Economics honours is tough, too.
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Bin Laden studied economics and public administration before he turned to a life of jihad.
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When I left university I got a job with Shell on their graduate scheme. One of my roles was as a commercial manager for liquid natural gas shipping, project economics and contract negotiation.
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My fellow economists and academics fail to understand the economics of trade in the real world. Traditional models of academia respect free trade without considering whether it is fair trade.
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The nuclear approach I’m involved in is called a traveling-wave reactor, which uses waste uranium for fuel. There’s a lot of things that have to go right for that dream to come true – many decades of building demo plants, proving the economics are right. But if it does, you could have cheaper energy with no CO2 emissions.
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It’s time to take Economics 101 to Washington. We believe in liberty, we believe in limited government, we believe in free enterprise, we believe in family values and the sanctity of human life, and we all believe Washington needs a good dose of Economics 101.
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I was a business major in college, so I knew economics.
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Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man’s prosperity and survival, but so also is exchange.
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I think most politicians have almost no understanding of economics; otherwise, they wouldn’t have become politicians.
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When the word ‘morality‘ comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world’s resources or for investment bankers to earn large bonuses?
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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.
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Neoclassical economics insists that advertising cannot force consumers to buy anything they don’t already want to buy.
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My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.
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I can’t think of a president who has been overburdened by a knowledge of economics.
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I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.
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In my junior year in college, I was getting kind of tired of French. So, I took an economics course, and I loved it. The rest of my two years in college I spent in economics.
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The fundamentals of the token model are valuable and powerful. They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.
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In the 1980s, we were advised, why don’t you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let’s see how we can fit them in the Indian economy. Every country has its own way of moving forward.
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The moment is ripe for an experienced businessman to talk practical, prudent economics to the electorate – which is why Mitt Romney’s political fortunes are steadily being resurrected from the grave.
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There’s no problem with fans and bands. There’s a problem with the economics of the outside disruption of the industry.
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If you have a traditional view of economics, you’re probably thinking of Ben Bernanke making Fed policy, or the guys creating financial derivatives at Goldman Sachs.
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In psychology and behavioral economics, people have shown that if you just describe options in a certain way, or make some features of a situation salient, you can get people to do and even see what you want. You don’t have to be a Jedi to manipulate people’s attention.
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Let’s start with the euro. What on earth were we thinking? How could anyone with the faintest grasp of economics have believed it was anything other than sheer insanity to yoke together diverse national economies such as Greece, Ireland, Germany and Finland under a single exchange rate and a single interest rate?
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A large part of crime is economics – if people are working and and have a home and family to support, then I believe you can reduce the crime rate.
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Rising inequality is not a law of nature – it’s not even a law of economics. It is a consequence of political and economic arrangements, and those arrangements can be changed.
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I just knew that economics had never been my big motivation.
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I think that ‘Lost‘ is a bit of a dinosaur in terms of the type of show it is. The economics just don’t support making a show this big and complicated profitable enough for a network.
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I love the gallery, the arena of representation. It’s a commercial world, and morality is based generally around economics, and that’s taking place in the art gallery.
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In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.
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Class I to XII wasn’t much help; I was always a mediocre student. But when I pursued higher education and studied economics with theatre or psychology with science fiction, I got a whole new world view.
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I’ve always been interested in the economics of reproduction, who gets what they want when it comes to childbearing and how these days, money is a tremendous advantage.
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In economics, one of the most important concepts is ‘opportunity cost’ – the idea that once you spend your money on something, you can’t spend it again on something else.
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Art does, to some extent, follow economics.
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The basic idea that if you increase government spending or you cut people’s taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It’s in every economics textbook, that’s what we teach our undergraduates, and I certainly try to teach them the truth.
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Oil has allowed us to think about economics as though energy doesn’t matter.
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After graduating in engineering I went to the University of Kansas to get an MA in economics as a vehicle for allowing me to decide if I wanted to continue in economics.
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The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
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No one is entertained by economics.
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I don’t think most of Congress understands how economics works.
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I grew up with very much an appreciation of the creative side of things, but always knowing how much Wall Street, finance and economics really powered everything else, whether it’s politics or the art world.
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After my undergraduate, I’ve written a thesis that was in the government department, but largely, it turned out almost an economic type of thesis. And I was very interested in that, and I wanted to go get a Ph.D. in Economics.
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Economics is half psychology and half Grade Three arithmetic, and the U.S. does not now have either half right.
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Entrepreneurship isn’t for everyone, and not everyone is going to be an entrepreneur, but women who turn to business, turn to economics, because there are people depending on them, I think that their creativity, their resilience, their spirit, embody what’s best about entrepreneurship.
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I view the work I’ve done related to statistics and economics as, roughly speaking, how to do something without having to do everything.
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I founded Atari in my garage in Santa Clara while at Stanford. When I was in school, I took a lot of business classes. I was really fascinated by economics. You end up having to be a marketeer, finance maven and a little bit of a technologist in order to get a business going.
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I have an economics degree with a minor in sociology. The reason I have that is because I want to do a ministry in urban areas and help with underprivileged kids.
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You can’t build an engine that’s just good for one type of game anymore. The economics don’t work.
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At nineteen I was pretty sure I was going to be a professional soccer player. At that time I played for one of the Norwegian premier leagues. But I tore ligaments in both knees, so I started studying business administration and economics and became a financial analyst, and I worked at a brokerage firm as a stockbroker.
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Our economics are not baseball‘s economics. Our game is not baseball’s game. Our owners are not baseball’s owners, with one or two exceptions. Our union is not baseball’s union. What we do has to be crafted and suited to address hockey, to address the NHL, to address our 30 teams and our 700-plus players.
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Plays are getting smaller and smaller, not because playwrights minds are shrinking but because of the economics.
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The economics favour one-man comedy shows: all you need is one person, a microphone and a PA system. But I’m pleased so many people are making a living out of comedy – it’s a wonderful business to be in.
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While Argentina, Brazil, and Chile – what in textbooks used to be called the ABC countries – seem settled into democratic politics and free market economics, the Andean countries are in disarray.
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I began my career as an economics professor but became frustrated because the economic theories I taught in the classroom didn’t have any meaning in the lives of poor people I saw all around me. I decided to turn away from the textbooks and discover the real-life economics of a poor person’s existence.
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The reason we should do a carbon tax is because it’s the right thing to do. It’s economics 101, elementary stuff.
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Having such high-profile parents could be intimidating, but really, they’ve let me do my own thing and evolve as a person. When I changed my major from economics to film, they were cool about it.
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There’s a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.
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But while I loved all of these courses, there was an irresistible attraction of economics.
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Systematic social and environmental deregulation, and the economics of austerity while enriching the rich, will be the markers of Farage/Tory politics after Brexit. Singapore-on-Sea for the rich; degradation for the rest.
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I thought I might like to farm. But I didn’t know the economics of it. Teachers basically steered me away from it.
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To join or not to join films was the biggest choice I had to make. I’d done two years of biogenetic engineering, was an economics graduate and a gold medalist. I had also been a Bharatanatyam dancer from age five, always won the best actress award in school. Finally, I decided to do things for my soul, chose to act.
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I think economics – and this is what I’ve tried to impart – has a tremendous amount of human interest in it.
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Since scarcity is the basic economic problem, if it does not exist then there is no reason for my economics course. Devoting time to the study of how people use limited resources to fulfill unlimited wants and needs should help us to discover how to best utilize the resources we have at our disposal.
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We’ve switched from a culture that was interested in manufacturing, economics, politics – trying to play a serious part in the world – to a culture that’s really entertainment-based.
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Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That’s inescapable.
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You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized.
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I started off thinking that maybe the social sciences ought to have the kinds of mathematics that the natural sciences had. That works a little bit in economics because they talk about costs, prices and quantities of goods.
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Start with the idea that you can’t repeal the laws of economics. Even if they are inconvenient.
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Everywhere I go, I see incredible examples of communities that have a vision for transportation and how it will impact the quality of life, mobility, economics and opportunity.
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It became clear I wanted to be a development economist. I mean, I said I wanted to work on the economics of poor countries. And I’d actually say that I don’t think that was so much about narrowing the gap as about increasing their incomes, which means economic growth, which is really my prime interest.
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Zero-sum thinking is an obsession of mine, but mostly in economics.
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Shakespeare was writing about his time, and it was a time when women were beginning to demand a voice, demand a say in their lives for one reason or another, mainly to do with the economics of the time.
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Economists tend to think they are much, much smarter than historians, than everybody. And this is a bit too much because at the end of the day, we don’t know very much in economics.
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Romney economics would spell disaster for America’s middle class. In this economy there are shipbuilders and ship wreckers.
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We’ve all heard the phrase ‘equal pay for equal work.’ Many of those who habitually repeat this mantra may not realize that it is simply a variation of the discredited labor theory of value (LTV), which is generally associated with Marxian economics.
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When I was a graduate student, I actually took a course in development economics and I thought it was the most boring thing in the world.
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Like war, economics is more an art than a science.
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The people who run the country have enormous influence over the culture, politics, and the economics of the country. And increasingly, they haven‘t a clue about how most of America lives. They have never experienced it.
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Some say economics has all kinds of good tools and techniques, but it has an absence of interesting problems. I look around the world, and I see all kinds of interesting, important problems we ought to solve with the tools we have.
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Washington is a place where politics and economics often aren’t on speaking terms.
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I don’t go to the beach. There is no value in going to the beach. If I did go I would probably read economics books.
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Now that virtually every career is an option for ambitious girls, it can no longer be considered regressive or reactionary to reintroduce discussion of marriage and motherhood to primary education. We certainly do not want to return to the simplistic duality of home economics classes for girls and wood shop for boys.
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It’s well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.
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Economics has never been a science – and it is even less now than a few years ago.
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I have kids in high school that don’t know how to balance a checkbook. We need to have that fundamental understanding of economics as we move forward to develop the next generation of young people.
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You don’t see black people winning Nobel prizes for physics or economics or any of the industries or institutions that shape the way the world operates.
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I may be a dreamer, but I think monetary economics should be a hot topic.
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Every nation on the Earth that embraces market economics and the free enterprise system is pulling millions of its people out of poverty. The free enterprise system creates prosperity, not denies it.
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The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.
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To those of you who study history, economics, sociology, literature and language I present the challenge of the utilization of the enormous resources in our grasp to the problem of creating a genuinely good life for yourselves and your children.
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Establishment idiots say the Trump tax cuts only helped the rich. Don’t they understand anything about economics?
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All the political angst and moral melodrama about getting ‘the rich’ to pay ‘their fair share‘ is part of a big charade. This is not about economics, it is about politics.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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Then in college, besides economics, I also majored in studio art and got involved in photography and making short films and acting. But I didn’t know you could make a living that way.
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Middle-out economics rejects the old misconception that an economy is a perfectly efficient, mechanistic system and embraces the much more accurate idea of an economy as a complex ecosystem made up of real people who are dependent on one another.
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The professional study of economics has become ideological brainwashing. It is a defense of the excesses of the capitalist system.
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Immigration is as much about the American experience and the values we share, and a lot more about economics than it is about politics.
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The data are what matter in economics, and the more ruthlessness that an economist can summon to make sense of the data, the more useful his findings will be.
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There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
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Trickle-down economics does not work, and tax reform should not be defined as partisan tax cuts for the wealthy and huge corporations.
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For too long the U.S. immigration system has focused on accepting low-skilled immigrants. Basic economics tells us that the surge of low-skilled workers depresses wages and harms the prospects of American workers.
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The most powerful forces in economics are not numbers or facts. They are prejudices and preferences. No amount of evidence will ever change the degree to which many of the rich and powerful prefer themselves to be richer and more powerful and others poorer and weaker.
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Many individuals are doing what they can. But real success can only come if there is a change in our societies and in our economics and in our politics.
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Bitcoin represents the first major breakthrough in economics and finance since double-entry bookkeeping was invented in 1494, and activists need to embrace its power.
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My folks are economists and have taught economics and social science so I grew up with those kind of conversations around the dinner table.
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The eighteenth century discovery that, in an institutional framework that facilitates voluntary exchanges among individuals, this process generates results that might be evaluated positively, produced ‘economics,’ as an independent academic discipline or science.
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In economics, ‘competitiveness‘ does not describe Barack Obama’s insistence on not only being president of the U.S. but also beating his staff at bowling.
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We make choices every single day of our lives and those choices mean we must give up something in exchange for another. In economics it’s called an ‘opportunity cost.’
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Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the ‘what,’ but it certainly is not the ‘why.’
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As new technologies upend the economics of climate change, the politics surrounding the environment are changing, too.
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In economics, it is easier to agree on the data than to agree on causality.
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Conflicts are never caused in any simple way by identity, culture or economics. Where resources are scarce, or there are strong historical memories of conflict, small events are more likely to inflame passions.
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Economics runs the world.
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In a paper called ‘The Economics of Matching: Stability and Incentives,’ I showed that there were not any mechanisms that would always both produce a stable matching and make it completely safe for all firms and workers to reveal their true preferences.
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Middle-class economics is the simple idea that the economy performs best when the benefits of economic growth are broadly shared, not isolated to a fortunate few.
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Perhaps one day earthquakes, hurricanes and financial crashes will all be predictable. But we don’t have to wait until then for seismology, meteorology and economics to become sciences; they already are.
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I lived in London, went to the London School of Economics, do a lot of business in London, and have a lot of fun in London.
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In economics, the majority is always wrong.
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I joined Red Chillies entertainment right after I returned from the London School of Economics in 2007.
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In this age of specialization, I sometimes think of myself as the last ‘generalist’ in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.
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Tastes and behavior are important in economics. Nobody denies that. But the question is: How much of behavior is irrational, and how much of the irrational behavior really affects prices? It turns out that’s very difficult to answer.
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When I finished high school, it was clear to me that I would study mathematics, even if I also considered economics and psychology.
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My novels are about a generation of Americans who lived between 1940 and 2000, who resisted the postwar political and cultural forces by choosing a wandering life of impoverishment and wonder. Inevitably, race and economics are a big part of their stories. Childhood, childishness, and children are never far.
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For thirty-five years, David Halberstam, an unsilent member of the Silent Generation, has contemplated America and its place in the world, casting his eye on big subjects – Vietnam, global economics, race, mass media, and the 1950s.
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I wasn’t actually very naturally good at economics. My brain doesn’t work very well, in terms of mathematics.
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In my book, ‘The Big Three in Economics,’ I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists.
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The secret to the movie business, or any business, is to get a good education in a subject besides film – whether it’s history, psychology, economics, or architecture – so you have something to make a movie about. All the skill in the world isn’t going to help you unless you have something to say.
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My motivation was an idea of being able to improve the conditions of life, to try to find a remedy to many of the problems facing the world. That’s what led me into economics. I saw it as a way of helping people.
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Contract things are kind of tough to come up with, especially with both sides and kind of how the economics and all those things work.
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You can’t just read the Koran to understand Muslim life. You have to look at history, at personalities, at economics, and so on.
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Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life.
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I started in college as a business major and finally transferred to home economics and studied making clothes.
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I saw that publishing all over the world was deeply constrained by self-censorship, economics and political censorship, while the military-industrial complex was growing at a tremendous rate, and the amount of information that it was collecting about all of us vastly exceeded the public imagination.
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In the world of traditional economics, it shouldn’t matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.
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I decided to go to the London School of Economics to write my thesis for MIT, under James Meade, Nobelist with Bertil Ohlin in 1977.
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First, I think the science of monetary economics has clearly gotten better.
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That is why I believe that art is so much more significant than either economics or philosophy. It is the direct measure of man’s spiritual vision.
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There’s nothing in Keynesian economics that would allow you to solve stagflation. But there’s nothing in neoclassical economics that would allow you to solve stagflation, either.
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The ’90s were extremely diverse, almost like a laboratory of the new century. There was much experimenting around, in politics, economics, gender and family structures, and also in fashion. There was a cloud of possibilities which kept us all dizzy.
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I went into the sciences very early on, but to me, economics pervades so much more of our lives and our existence.
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You know and I know and economists know that trickle-down economics doesn’t work.
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By a combination of formal training and self study, the latter continuing systematically well into the 1940s, I was able to gain a broad base of knowledge in economics and political science, together with reasonable skills in advanced mathematics, symbolic logic, and mathematical statistics.
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I think that, especially among conservatives, there’s a clear understanding that there are three legs to the conservative stool. There are the free-market economics conservatives, the social conservatives, and the national-security conservatives.
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Economics is not a science; it is a quasi-religion: part superstition, part mystique, part sentimentality. Bankers dream like other men, the only difference being that when their dreams turn to nightmares, we all lose sleep. There can be no trusting the muttering of any prelate when it comes to money.
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I’m the result of upbringing, class, race, gender, social prejudices, and economics. So I’m a victim again. A result.
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The economics of theater are painful. I still think that the theater community should be looking much more rigorously at how to let the playwright keep the money they make.
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The scientific study of labor economics provided the opportunity for me to unite theory with evidence my lifetime intellectual passion.
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My interest in economics just basically comes because I think I’m a curious person, and I’m interested in how the world works.
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At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.
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My background is economics and maths. I think one of the reasons I studied humanities at all, or even went into journalism, is because, like, science and maths wasn’t cool in England when I was growing up. No one ever talked to the engineering students at Oxford.
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One of the most important things liberals don’t understand about conservatism, obscured by too much lazy talk about conservatism’s various ‘wings,’ is that its tenets form a relatively organic base for its adherents, where ‘traditional morality’ serves the interests of laissez-faire economics and vice-versa.
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For a variety of reasons, I have always felt myself an outsider. I don’t know how to classify myself in economics. I am a loner. I do not like groupthink, which, if anything, has become more important in economics. In addition, a lot of the values I hold are not the mainstream values in the profession.
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Our engagement through international economics, trade, these trade agreements, is vital and is linked to our national security. This is a lesson we learned from the ’30s, it is a lesson we learned post-World War II, and it plays to our strengths.
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I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics.
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I’m double majoring in social studies – which is sociology, anthropology, economics, and philosophy – and African-American studies.
343
To join or not to join films was the biggest choice I had to make. I’d done two years of biogenetic engineering, was an economics graduate and a gold medalist. I had also been a Bharatanatyam dancer from age five, always won the best actress award in school. Finally, I decided to do things for my soul, chose to act.
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My A-levels were physics, chemistry and maths. Science is fascinating but I wouldn’t say I have used it since then. I decided to do economics.
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While I tend to side with economist Milton Freidman when it comes to free-market economics, there is a place for ‘Made in the U.S.A.’ where national security is concerned.
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I got politics and economics moving and then others took over.
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I don’t believe in trickle-down economics. I don’t think that people who have the most are inclined to share it, generally.
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I am a filmmaker. My job is to make films. When something excites you – a story or characterisation – you immediately forget about everything else. You only think how to make a movie out of it. The economics come only later. You shouldn’t let money dictate the kind of films you should make.
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Rather than dividing the world between good and evil, the Left divided the world in terms of economics. Economic classes, not moral values, explained human behavior. Therefore, to cite a common example, poverty, not one’s moral value system, or lack of it, caused crime.
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Both economics and politics are false sciences.
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When I moved to Beijing in 2005 to write, I was accustomed to hearing the story of China’s transformation told in vast, sweeping strokes – involving one fifth of humanity and great pivots of politics and economics.
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Architecture is a technology. And it’s involved in all of the different networks of systems that produce architecture – including politics, economics, social and cultural conditions. So architecture is already in technology.
360
Most of the people in the world are poor, so if we knew the economics of being poor, we would know much of the economics that really matters. Most of the world’s poor people earn their living from agriculture, so if we knew the economics of agriculture, we would know much of the economics of being poor.
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Unlike economics, whose sole preoccupation in our finance-obsessed era is the near-term profit motive, history offers a way to place our tiny lifespans in a narrative that spans dozens of generations – perhaps even reaching into a future where capitalism is no longer our dominant form of economic organization.
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The economic sense of possibility was so great when I was growing up that my parents had no question that I could do anything I wanted to do, even as a girl. I’ve always believed that the economics of a story intersects with the women’s story – that stuff often happens at the time it happens because of the economy.
365
I joined the Lib Dem party at the Freshers’ Fair at the London School of Economics.
366
Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.
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Trickle-down economics doesn’t work, but we need the power and innovation that comes from the free enterprise system. There’s no way we’re going to decarbonize the American economy without innovation and the profit motive. It’s just not gonna happen.
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I will check the internet for at least an hour every morning scanning worldwide news to do with child abuse. So if you’re constantly putting yourself in an environment where you’re checking up on social economics or homelessness problems, if you keep yourself aware of it, you don’t really have a day off.
369
Tax rates aren’t everything with regard to incentives to work. I would probably work at a 100% tax rate next to a nude modeling studio. I’m joking, but you know what I’m saying. There’s a lot more to it than just tax rates. It’s economics that I do; I don’t do nude modeling studio economics. People do respond to taxes.
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Obama is a fine, very impressive person. He really is. Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president.
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The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.
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I studied economics and made it my career for two reasons. The subject was and is intellectually fascinating and challenging, particularly to someone with taste and talent for theoretical reasoning and quantitative analysis.
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I was going to get a degree in economics and be a teacher. But I couldn’t afford to pay for the education. So I just got the MBA and not the doctorate. I loved it at Bain, and I’ve been there ever since.
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At a purely practical level, history is important because it provides the basic skills needed for students to go further in sociology, politics, international relations and economics. History is also an ideal discipline for almost all careers in the law, the civil service and the private sector.
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Personally, I don’t see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
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I have to find the story relatable or at least interesting to be a part of it. Then there are times when I take up films to balance my economics.
