Economics Quotes

500+ Sourced quotes

Usually this desire [for family limitation] has been laid to economic pressure... It has asserted itself among the rich and among the poor, among the intelligent and the unintelligent. It has been manifested in such horrors as infanticide, child abandonment and abortion.

Margaret Sanger

Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G. D. P. is one measure of national income, of how much wealth Americans make, and it's a deeply foolish indicator of how the economy is doing. It ought to join buggy.

Scientists are not robotic inducing machines that infer structures of explanation only from regularities observed in natural phenomena (assuming, as I doubt, that such a style of reasoning could ever achieve success in principle). Scientists are human beings, immersed in culture, and struggling with all the curious tools of inference that mind permits […]. Culture can potentiate as well as constrain—as Darwin's translation of Adam Smith's laissez-faire economic models into biology as the theory of natural selection. In any case, objective minds do not exist outside culture, so we must make the best of our ineluctable embedding.

Stephen Jay Gould

The bastard Keynesian doctrine, evolved in the United States, invaded the economic faculties of the world, floating on the wings of the almighty dollar.

Trump has no coherent organizing economic philosophy, spent decades acting like and supporting traditional liberal Democrats, has repeatedly shifted his positions on major issues and has little more trust from economists than he has earned among the general electorate.

This society in which knowledge workers dominate is in danger of a new "class conflict" between the large minority of knowledge workers and the majority of workers who will make their livings through traditional ways, either by manual work... or by service work. The productivity of knowledge work - still abysmally low - will predictably become the economic challenge of the knowledge society. On it will depend the ability of the knowledge society to give decent incomes, and with them dignity and status, to non knowledge people.

The foremost challenge is that of the knowledge revolution. Economic power will depend on creativity and innovation. Creation of wealth will move from traditional resources to the one asset: knowledge.

Talal Abu-Ghazaleh

What is politically defined as economic planning is the forcible superseding of other people's plans by Government officials.

The human aspect of industry has changed very considerably in the last fifty years. The nature and range of these changes are still partly unknown to us, but the question of their significance is no longer in dispute. Whereas the human problems of industry were regarded until recently as lying within the strict province of the specialist, it is now beginning to be realized that a clear statement of such problems in particular situations is necessary to the effective thinking of every business administrator and every economic expert.

On March 20, 1854, the Republican Party was established in Ripon, Wisconsin. Referred to as the 'GOP' or 'Grand Old Party', it established for one reason, to break the chains of slavery and ensure the unalienable rights endowed by the Creator of life, liberty, and the pursuit of happiness would be for all Americans. The Republican Party was created to achieve individual freedom. Then, as now, the antagonist to the Republican Party has been the Democrats, the party of collective subjugation and individual enslavement, then physical, now economic.

Personal responsibility is a big idea about which little is known. It has received far less study than other key conservative tenets, like economic choice. This lack of attention is striking because personal responsibility is a defining assumption in American thought.

I am a little to the right of... Why is the Attila comparison used? Fifth-century Hunnish depredations on the Roman Empire were the work of an overpowerful executive pursuing a policy of economic redistribution in an atmosphere of permissive social mores. I am a little to the right of Rush Limbaugh. I'm so conservative that I approve of San Francisco City Hall marriages, adoption by same-sex couples, and New Hampshire's recently ordained Episcopal bishop. Gays want to get married, have children, and go to church. Next they'll be advocating school vouchers, boycotting HBO, and voting Republican.

It follows that America's primary interest is to help ensure that no single power comes to control this geopolitical space and that the global community has unhindered financial and economic access to it.

Zbigniew Brzezinski

This economic pie that is getting ready to explode before our eyes is going to be shared equally.

Quite agreeable, of course, was this state of things to those who thought it in their abundant riches the result of inevitable economic laws and accordingly, as if it were for charity to veil the violation of justice which lawmakers not only tolerated but at times sanctioned, wanted the whole care of supporting the poor committed to charity alone.

A very strong military posture is vitally necessary today. How long it must continue I am not prepared to estimate, but I am sure that it is too narrow a basis on which to build a dependable, long-enduring peace. The guarantee for a long continued peace will depend on other factors in addition to a moderated military strength, and no less important. Perhaps the most important single factor will be a spiritual regeneration to develop goodwill, faith, and understanding among nations. Economic factors will undoubtedly play an important part. Agreements to secure a balance of power, however disagreeable they may seem, must likewise be considered. And with all these there must be wisdom and the will to act on that wisdom.

George Marshall

Instead of engaging in cutthroat competition, we should strive to create value. In economic terms, this means a transition from a consumer economy - the mad rush for ownership and consumption - to a constructive economy where all human beings can participate in the act of creating lasting worth.

The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.

On Britain joining the European Economic Community:

It does mean, if this is the idea, the end of Britain as an independent European state … it means the end of a thousand years of history.

It is my hypothesis that the fundamental source of conflict in this new world will not be primarily ideological or primarily economic. The great divisions among humankind and the dominating source of conflict will be cultural. Nation-states will remain the most powerful actors in world affairs, but the principal conflicts of global politics will occur between nations and groups of different civilizations. The clash of civilizations will dominate global politics. The fault lines between civilizations will be the battle lines of the future.

Samuel P. Huntington

Assuming... that all available goods of higher order are employed in the most economic fashion, the value of a concrete quantity of a good of higher order is equal to the difference in importance between the satisfactions that can be attained when we have command of the given quantity of the good of higher order whose value we wish to determine and the satisfactions that would be attained if we did not have this quantity at our command.

To have peace and not war, the drift toward a war economy, as facilitated by the moves and the demands of the sophisticated conservatives, must be stopped; to have peace without slump, the tactics and policies of the practical right must be overcome. The political and economic power of both must be broken. The power of these giants of main drift is both economically and politically anchored; both unions and an independent labor party are needed to struggle effective.

C. Wright Mills

The theory of games was first formalised by Von Neumann & Morgenstern (1953) in reference to human economic behaviour. Since that time, the theory has undergone extensive development... Sensibly enough, a central assumption of classical game theory is that the players will behave rationally, and according to some criterion of self-interest. Such an assumption would clearly be out of place in an evolutionary context. Instead, the criterion of rationality is replaced by that of population dynamics and stability, and the criterion of self-interest by Darwinian fitness.

John Maynard Smith

We believe that the developing crisis in the capitalist system, by which we mean both economic stagnation, and the social and political conflicts to which it gives rise, makes it possible to think in terms of developing a sizeable and serious revolutionary socialist party in a way that was not possible 20 or even 10 years ago.

Anthony Crosland

When Government has a monopoly of all production and all distribution, as many Governments have, it can not permit any economic activity that competes with it. This means that it can not permit any new use of productive energy, for the new always competes with the old and destroys it. Men who build railroads destroy stage coach lines. -pg32.

Rose Wilder Lane