Quotes on Economics

Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.

We have an economy that tells us it is cheaper to destroy earth in real time rather than renew, restore, and sustain it. You can print money to bail out a bank but you can't print life to bail out a planet.

January is always a good month for behavioral economics: Few things illustrate self-control as vividly as New Year's resolutions. February is even better, though, because it lets us study why so many of those resolutions are broken.

I found this out over the years, that racism is a thinly veiled disguise over economics and money. It really is.

Learning to be an effective leader is no different than learning to be an effective person. And that's the hard part

Lobbying' is the activity of attempting to influence legislation by privately influencing the legislators. It is the result and creation of a mixed economy-of government by pressure groups. Its methods range from mere social courtesies and cocktail-party or luncheon "friendships" to favors, threats, bribes, blackmail.

The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand to get a better view, promoting the others behind them to stand. Once enough people stand, everyone has to stand, which means no one is getting a better view, while everyone has become more uncomfortable.

The methodologies of examining hip hop are borrowed from sociology, politics, religion, economics, urban studies, journalism, communications theory, American studies, transatlantic studies, black studies, history, musicology, comparative literature, English, linguistics, and other disciplines.

Design is a way of life, a point of view. It involves the whole complex of visual communications: talent, creative ability, manual skill, and technical knowledge. Aesthetics and economics, technology and psychology are intrinsically related to the process.

The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

There is no easy fix or youth unemployment. Partnership between the public and private sectors can make a big difference.

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.

The liberal ideal is that everyone should have fair access and fair opportunity. This is not equality fo result. Its equality of opportunity. There's a fundamental difference.

The trouble with conspiracies, even those that are to everybody's advantage in the long run, is that they are open to abuse. If manipulators really had the powers claimed, they could win the lottery every week. I prefer to point out that they could also win a Nobel Prize for discovering fundamental physical forces hitherto unknown to science.

I am opposed to all forms of control; I am for an absolute laissez faire, free, unregulated economy. I am for the separation of the state and economics, just as we had separation of state and church, which led to peaceful coexistence among different religions...so the same applies to economics. If you separate the government from economics, if you do not regulate production and trade, you will have peaceful cooperation, and harmony and justice among men.

Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is driven by pure stupidity - or, rather, inattention, misinformation about fundamentals, and an exaggerated focus on currently circulating stories.

It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics. Why? Because discrimination, poverty and ignorance restrict growth. We know that investments in education, infrastructure and scientific and technological research increase growth. They increase good jobs, and they create new wealth for all of us.

So much of the language that surrounds us - from things like economics, management theory, and the algorithms built into computer systems - appears to be objective and neutral. But in fact, it is loaded with powerful, and very debatable, political assumptions about how society should work and what human beings are really like.

The notion of humans as inherently rational beings has been not only trashed in economics, but trashed in all the best research on moral decision-making.

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.