Quotes on Economy And Economics

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.

In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.

How great, my friends, is the virtue of living upon a little!

There can be economy only where there is efficiency.

Economic growth without social progress lets the great majority of the people remain in poverty, while a privileged few reap the benefits of rising abundance.

Commerce has set the mark of selfishness, the signet of its all-enslaving power, upon a shining ore, and called it gold: before whose image bow the vulgar great, the vainly rich, the miserable proud, the mob of peasants, nobles, priests, and kings, and with blind feelings reverence the power that grinds them to the dust of misery.

In economics, the majority is always wrong.

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

Economy is the method by which we prepare today to afford the improvements of tomorrow.

Never spend your money before you have earned it.

I would never make a good economist. You know, an economist is a man that can tell you anything about — well, he will tell you what can happen under any given condition — and his guess is liable to be as good as anybody else's, too.

Nobody spends somebody else's money as carefully as he spends his own.

Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.

Commerce is a game of skill which everyone cannot play and few can play well.

We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.

No nation was ever ruined by trade.