Quotes on Economics

The avoidance of taxes is the only intellectual pursuit that still carries any reward.

Admitting one's ignorance is the first step in acquiring knowledge.

Ignorance is an evil weed, which dictators may cultivate among their dupes, but which no democracy can afford among its citizens.

The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

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.

I write for one and only one purpose, to overcome the invincible ignorance of the traduced heart. I wish to speak to and for those who have had enough of the Social Lie, the Economics of Mass Murder, the Sexual Hoax, and the Domestication of Conspicuous Consumption.

The question is not what anybody deserves. The question is who is to take on the God-like role of deciding what everybody else deserves. You can talk about 'social justice' all you want. But what death taxes boil down to is letting politicians take money from widows and orphans to pay for goodies that they will hand out to others, in order to buy votes to get re-elected. That is not social justice or any other kind of justice.

The idea that human kind can shape the world according to wish is what I call the fatal conceit

If you wish to find, you must search. Rarely does a good idea interrupt you

There should be perfect freedom, legal and social, to do the action and stand the consequences. It would be a great misunderstanding of this doctrine to suppose that it is one of selfish indifference, which pretends that human beings have no business with each other's conduct in life, and that they should not concern themselves about the well-doing or well-being of one another, unless their own interest is involved.

Mob rule and emasculation of the wise' and 'who will watch the guardians'?

Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects.

Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.

The blunt truth about the politics of climate change is that no country will want to sacrifice its economy in order to meet this challenge.

Political Economy, in truth, has never pretended to give advice to mankind with no lights but its own; though people who knew nothing but political economy (and therefore knew it ill) have taken upon themselves to advise, and could only do so by such lights as they had.

In the new economy, information, education, and motivation are everything.

If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.

The dominant propaganda systems have appropriated the term "globalization" to refer to the specific version of international economic integration that they favor, which privileges the rights of investors and lenders, those of people being incidental. In accord with this usage, those who favor a different form of international integration, which privileges the rights of human beings, become "anti-globalist."

Economies are supposed to serve human ends.. not the other way round. We forget at our peril that markets make a good servant, a bad master and a worse religion.

We no longer see the world as a single entity. We've moved to cities and we think the economy is what gives us our life, that if the economy is strong we can afford garbage collection and sewage disposal and fresh food and water and electricity. We go through life thinking that money is the key to having whatever we want, without regard to what it does to the rest of the world.

I think that if it is - has to do with global warming, or if it has to do with raising the minimum wage, or if it has to do with lowering prescription drugs for vulnerable citizens - all of those things are people issues, not Democratic issues or Republican issues.