Economics Quotes

500+ Sourced quotes

... an economic ignoramus unfit to oversee a fifty-cent raffle.

We are not here in this world to find elegant solutions, pregnant with initiative, or to serve the ways and modes of profitable progress. No, we are here to provide for all those who are weaker and hungrier, more battered and crippled than ourselves. That is our only certain good and great purpose on earth, and if you ask me about those insoluble economic problems that may arise if the top is deprived of their initiative, I would answer 'To hell with them.' The top is greedy and mean and will always find a way to take care of themselves. They always do.

Cities are, first of all, seats of the highest economic division of labor. They produce thereby such extreme phenomena as in Paris the remunerative occupation of the quatorzième. They are persons who identify themselves by signs on their residences and who are ready at the dinner hour in correct attire, so that they can be quickly called upon if a dinner party should consist of thirteen persons. In the measure of its expansion, the city offers more and more the decisive conditions of the division of labor. It offers a circle which through its size can absorb a highly diverse variety of services.

The laws of economic life are subject to the eternal laws of spiritual capital.

To ignore social costs because they require an evaluation by society... and to leave social losses out of account because they are 'external' and 'non-economic' in character, would be equivalent to attributing no or 'zero' value to all social damages which is no less arbitrary and subjective a judgement than any positive or negative evaluation of social costs.

Karl William Kapp

realities of our own countries rather than catching up with the western economic models, [Bhatt urged] the people to follow a principle which ensures six basic necessities- food, shelter, clothing, primary education, primary healthcare and primary banking- are available within a 100 mile distance. If these necessities are locally produced and consumed, we will have the growth of a new holistic economy.

The home of the Utopian impulse was architecture rather than painting or sculpture. Painting can make us happy, but building is the art we live in; it is the social art par excellence, the carapace of political fantasy, the exoskeleton of one's economic dreams. It is also the one art nobody can escape.

In a world wracked by hatred, economic crisis, and political tension, America remains mankind's best hope.

The struggle for power is universal in time and space and is an undeniable fact of experience. It cannot be denied that throughout historic time, regardless of social, economic and political conditions, states have met each other in contests for power. Even though anthropologists have shown that certain primitive peoples seem to be free from the desire for power, nobody has yet shown how their state of mind can be re-created on a worldwide scale so as to eliminate the struggle for power from the international scene. … International politics, like all politics, is a struggle for power. Whatever the ultimate aims of international politics, power is always the immediate aim.

Hans Morgenthau

We believe in peace and peaceful development, not only for ourselves but for people all over the world. Our main preoccupation is with economic and social development at home and peace and friendship abroad.

Lal Bahadur Shastri

One can justify solar-hydrogen simply on grounds of economic resource viability without any green agenda.

All economic activity is dependent upon that environment and its underlying resource base of forests, water, air, soil, and minerals. When the environment is finally forced to file for bankruptcy because its resource base has been polluted, degraded, dissipated, and irretrievably compromised, the economy goes into bankruptcy with it.

The real struggle today, just as in the second quarter of the nineteenth century, is between a view of the world termed liberalism or radicalism, for which the primary object of government and of foreign policy is peace, freedom of trade and intercourse, and economic wealth and that other view, militarist or rather diplomatic, which thinks in terms of power, prestige, national or personal glory, the imposition of a culture and hereditary or racial prejudice. To the good English radical, the latter is so unreal, so crazy in its combination of futility and evil, that he is often in danger of forgetting or disbelieving its actual existence.

John Maynard Keynes

I don't think President Obama and Vice President Biden get the credit they deserve for saving us from the worst economic crisis of our lifetimes.

Hillary Clinton

It was a global depression, had many causes, the whole story requires you to look at the whole international system. But policy errors in United States, as well as abroad, did play an important role. And in particular as I said, the Federal Reserve failed in this first challenge in both parts of its mission. It did not use monetary policy aggressively to prevent deflation and the collapse in the economy, so it failed in its economic stability function. And it didn't adequately perform its function as lender of last resort allowing many bank failures and a resulting contraction in credit and also with the money supply. So, in that respect, again, the Fed did not fulfill its intended mission.

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.

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.

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

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.

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.