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Economist quotes
Debt is one persons liability, but another persons asset.
—
Paul Krugman
person
Sorted chronologically
—
Karl Marx
logic
Bad men need nothing more to compass their ends, than that good men should look on and do nothing.
—
John Stuart Mill
men
Life, liberty, and property do not exist because men have made laws. On the contrary, it was the fact that life, liberty, and property existed beforehand that caused men to make laws in the first place.
—
Frederic Bastiat
life
Still, intuitive assumptions about behavior is only the starting point of systematic analysis, for alone they do not yield many interesting implications.
—
Gary Becker
art
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
—
Ben Bernanke
art
I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.
—
Gerard Debreu
life
This desire for equity must not lead to an excess of welfare, where nobody is responsible for anything.
—
Jacques Delors
desire
I trust the people who are working with me. I delegate.
—
Mario Draghi
people
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
—
Milton Friedman
men
As we get rich, the basics of life - food, clothing and shelter - become a very small part of total expenditure. And people have enough money to purchase things that enhance them spiritually, and I mean the word 'spiritual' not necessarily in a religious sense but in the sense that it adds to your feeling of well-being.
—
Robert Fogel
life
Under capitalism, man exploits man. Under communism, it's just the opposite.
—
John Kenneth Galbraith
man
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
—
Alan Greenspan
success
Those who stand for nothing fall for anything.
—
Alexander Hamilton
fall
The separate water foundations, park benches, bathrooms and restaurants of the Jim Crow South startled me. These experiences motivated my lifelong study of the status of African Americans and the sources of improvement in that status.
—
James Heckman
life
The difficulty lies not so much in developing new ideas as in escaping from old ones.
—
John Maynard Keynes
lies
The power of population is indefinitely greater than the power in the earth to produce subsistence for man.
—
Thomas Malthus
art
The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.
—
Alfred Marshall
time
Margaret had close links with Geneva where she had spent some years as a student while her parents had been wardens of the Quaker Hostel there and where she had gone back as secretary to Gilbert Murray.
—
James Meade
war
Every man should be considered as having a right to the character which he deserves; that is, to be spoken of according to his actions.
—
James Mill
action
You only need to make one big score in finance to be a hero forever.
—
Merton Miller
hero
Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.
—
Ludwig Von Mises
men
My brother and sister are both older than I am and were born before my father went off to World War I.
—
Douglass North
father
What we have ignored is what citizens can do and the importance of real involvement of the people involved - versus just having somebody in Washington make a rule.
—
Elinor Ostrom
people
A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy.
—
Lucas Papademos
sacrifice
Give me a fruitful error anytime, full of seeds, bursting with its own corrections.
—
Vilfredo Pareto
time
There can be no rise in the value of labour without a fall of profits.
—
David Ricardo
value
It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.
—
Murray Rothbard
war
Good questions outrank easy answers.
—
Paul Samuelson
questions
Germany stays and falls with the success of the policy of Hitler.
—
Hjalmar Schacht
success
Every side of a coin has another side.
—
Myron Scholes
While I am interested both in economics and in philosophy, the union of my interests in the two fields far exceeds their intersection.
—
Amartya Sen
philosophy
One finds limits by pushing them.
—
Herbert Simon
The real tragedy of the poor is the poverty of their aspirations.
—
Adam Smith
poverty
I attended schools in Seattle through the University of Washington, from which I was graduated in 1931. I spent the next year at Northwestern University.
—
George Stigler
school
The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.
—
James Tobin
world
Labor wants pride and joy in doing good work, a sense of making or doing something beautiful or useful - to be treated with dignity and respect as brother and sister.
—
Thorstein Veblen
joy
Dont you think youre just rearranging deck chairs on the Titanic?
—
William Vickrey
you
The technical and commercial functions of a business are clearly defined, but the same cannot be said of the administrative function. Not many people are familiar with its constitution and powers; our senses cannot follow its workings - we do not see it build or forge, sell or buy - and yet we all know that, if it does not work properly, the undertaking is in danger of failure.p. 907-908
—
Henri Fayol
people
I think in the case of my father, in terms of the things that influenced me, he never pressed me to go into academics or pressed me to go to a field, and indeed, my behavior was largely to move as far the other direction. I dont think thats uncommon with people with very successful parents.
—
Robert C. Merton
success
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
—
Joseph Schumpeter
men
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