Economic Quotes

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Just like Lord Jesus Christ. He never advised to, for economic development, for industrial development, or this and that. So many things. He sacrificed everything for God. That is one test, that "Here is a lover of God." He was punished that "You, you stop this preaching," but he did not. So that is love of God. He sacrificed everything. That is love of God. So the ideal is Lord Jesus Christ, and the follower must be, at least to some extent, to that point. That is test. So we say that you follow any religious path. That doesn't matter. We want to see whether you are lover of God. That is our propaganda. And if one is serious about loving God, it doesn't matter in which way he'll develop that dormant love.

A. C. Bhaktivedanta Swami Prabhupada

Well, as a militant feminist, I believe in complete equality with men: intellectual, professional, economic, social and sexual; they're all equally essential, and they're all equally lacking in American society today.

Madalyn Murray O'Hair

It is difficult for us to appreciate the pressures which are put on men I know to be realistic and reasonable, not only in their executive capacity but in the highly organized strike committees in the individual ports by this tightly knit group of politically motivated men who, as the last general election showed, utterly failed to secure acceptance of their views by the British electorate, but who are now determined to exercise back-stage pressures, forcing great hardship on the members of the union and their families, and endangering the security of the industry and the economic welfare of the nation.

In the last decade's intensive study of all sorts of social and economic time series, it has become clear, it seems to me, that the usual time series technique is not quite adequate for the purpose which the social investigator is pursuing... We want to find out on more or less empirical grounds what is actually present in the series at hand, that is to say, what sort of components the series contains.

An almost forgotten means of economic self-reliance is the home production of food. We are too accustomed to going to stores and purchasing what we need.

Ezra Taft Benson

History indicates that at a certain point of economic breakdown people cease being concerned with individual liberties and are ready to accept regimentation. The danger is obviously even greater when the two main values so many people have are personal peace and affluence.

Francis Schaeffer

Religious people must be brought to a vivid realization of their awful guilt in sanctioning and supporting an economic system that is the direct antithesis of their religious ideals.

Freedom of mind and mind itself have been most fully developed in regions where trade developed at the same time. In all ages, without exception, every intense production of art, ideas, and spiritual values has occurred in some locality where a remarkable degree of economic activity was also manifest.

What I believe is that the age of creative silliness is not past. Virtue, as an economic theorist, does not consist in squeezing the last drop of blood out of assumptions that have come to seem natural because they have been used in a few hundred earlier papers. If a new set of assumptions seems to yield a valuable set of insights, then never mind if they seem strange.

We have believed — and we do believe now — that freedom is indivisible, that peace is indivisible, that economic prosperity is indivisible.

In our researches on the likely economic apocalypse it's become clear what is the prime survival tool for hard times: friends. Good friends. Lots of them.

Insulin is not a cure for diabetes; it is a treatment. It enables the diabetic to burn sufficient carbohydrates, so that proteins and fats may be added to the diet in sufficient quantities to provide energy for the economic burdens of life.

Frederick Banting

The widespread inability to understand technological artifacts as fabricated entities, as social and cultural phenomena, derives from the fact that in retrospect only those technologies that prove functional for a culture and can be integrated into everyday life are 'left over.' However, the perception of what is functional, successful and useful is itself the product of social and cultural—and last but not least—political and economic processes. Selection processes and abandoned products and product forms are usually not discussed.

Johannes Grenzfurthner

The cold metal of economic theory is in Marx's pages immersed in such a wealth of steaming phrases as to acquire a temperature not naturally its own.

Joseph Schumpeter

In theory, everybody buys the best and cheapest commodities offered to him on the market. In practice, if every one went around pricing, and chemically testing before purchasing, the dozens of soaps or fabrics or brands of bread which are for sale, economic life would become hopelessly jammed.

I am concerned that many young people in the Hemisphere seem to envision the United States as a nation intoxicated by power, addicted to warfare, controlled by a military-industrial complex, and determined to preserve the status quo, that we are against rapid economic and social growth.

Markets are institutions that exist to facilitate exchange, that is, they exist in order to reduce the cost of carrying out exchange transactions. In an economic theory which assumes that transaction costs are nonexistent. markets have no function to perform, and it seems perfectly reasonable to develop the theory of exchange by an elaborate analysis of individuals exchanging nuts for apples on the edge of the forest or some similar fanciful example. This analysis certainly shows why there is a gain from trade, but it fails to deal with the factors which determine how much trade there is or what goods are traded.

The so-called free market does not provide consumers with proper information, because the social and environmental costs of production are not part of the current economic models.... an ecological tax reform would be strictly revenue neutral, shifting the tax burden from income taxes to "eco-taxes." …the taxes would be added to existing products, forms of energy, services, and materials, so that prices would better reflect true costs.

Your money does not cause my poverty. Refusal to believe this is at the bottom of most bad economic thinking.

We believe that, in order to understand contemporary economic decision making, we need to supplement the study of market factors with an examination of the internal operation of the firm – to study the effects of organizational structure and conventional practice on the developments of goals, the formation of expectations, and the execution of choices.

To make a harsh but not entirely unjustified analogy, a government wedded to the ideology of competitiveness is as unlikely to make good economic policy as a government committed to creationism is to make good science policy, even in areas that have no direct relationship to the theory of evolution.

DiLorenzo thinks that slavery was not the real issue in the Civil War, that it was the Whig economic program. Banks, tariffs, internal improvements, and what he calls corporate welfare. And he thinks that the slavery question was really only a sham that was not the real question; it was not the real issue. That's very strange for anybody reading the Lincoln-Douglas debates, since the subject of tariffs was never mentioned. The only time the word is used, I think, is when Douglas says that the tariff was one of the questions that the two parties used to discuss. But the only subject discussed in the Lincoln-Douglas debates was slavery in the territories.

Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.

Tjalling Koopmans

You may ask what kind of republic I dream of. Let me reply: I dream of a republic independent, free, and democratic, of a republic economically prosperous and yet socially just; in short, of a humane republic that serves the individual and that therefore holds the hope that the individual will serve it in turn. Of a republic of well-rounded people, because without such people it is impossible to solve any of our problems — human, economic, ecological, social, or political.

In the time of Jesus almost everybody worked in small shops or on the land and then sold or bartered their own products in the towns. There were no vast industrial centers, no great factories, no steam power or electricity. Everyone knew his neighbor by name. There was no highly developed division of labor, nor were there great extremes of wealth and poverty. Such economic conditions are ideal—or at least as nearly ideal as they can ever be—for the spread of Christian communism. And so they are still in many parts of Russia.

Robert Hunter (author)