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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