Economics Quotes

If socialists understood economics, they wouldn't be socialist.

Don't let anybody tell you it's corporations and businesses that create jobs.

If one person has a right to something he did not earn, of necessity it requires that another person not have a right to something that he did earn.

A nation is not made wealthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it's people.

Never treat your audience as customers, always as partners.

There's no such thing as a free lunch.

There was never anything so well devised by men which in continuance of time hath not been corrupted

Big-government economics breeds crony capitalism. It's corrupt, anything but neutral, and a barrier to broad participation in prosperity.

Leadership produces change. That is its primary function

The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process

Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.

...it is distressing how often one can guess the answer given to an economic question merely by knowing who asks it.

All public resources go to the rich. The poor, if they can survive in the labor market, fine. Otherwise, they die. That's economics in a nutshell.

Obviousness is always the enemy of correctness.

Society doesn't have values. People have values.

In a capitalist society, all human relationships are voluntary. Men are free to cooperate or not, to deal with one another or not, as their own individual judgments, convictions and interests dictate.

The budget should be balanced not by more taxes, but by reduction of follies.

Economics teaches humility because it teaches us more about what we can't do than what we can do

Economic freedom has no security without political freedom, and political freedom can find its security only in economic freedom.

Someone bemoaned that there were so few women in economics. But there are also very few men in economics.

I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour

Marxian exploitation is the exploitation of people's lack of understanding of economics.

The only thing worse than being exploited by capitalism is not being exploited by capitalism.

Economics is haunted by more fallacies than any other study known to man

In a world in which the price of calculation continues to decrease rapidly, but the price of theorem proving continues to hold steady or increase, elementary economics indicates that we ought to spend a larger and larger fraction of our time on calculation.

People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.

Supply creates its own demand.

Inflation is always and everywhere a monetary phenomenon.

The consequences for human welfare involved in questions about human capital spillovers are simply staggering. Once one starts to think about them, it's hard to think of anything else

If you don't own Gold, you know neither history nor economics.

The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money are the only ones that ought to count.

The problem is a lot of what is called economics is not economics. It is more ideology or religion.

Climate change: Don't undermine the science just because you don't like the economics

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

The lesson from behavioral economics is that people only save if it's automatic.

Protectionism is the institutionalization of economic failure.

The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.

Often the masses are plundered and do not know it.

We've had trickle down economics in the country for ten years now, and most of us aren't even damp yet.

Everyone has the right to make his own decisions, but none has the right to force his decision on others.

Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.

Economic progress, in capitalist society, means turmoil.

The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.

The best of all monopoly profits is a quiet life.

The point of studying economics is so as not to be fooled by economists.

A merchant, it has been said very properly, is not necessarily the citizen of any particular country.

What is surprising is not that oppression should make its appearance only after higher forms of economy have been reached, but that it should always accompany them.

Trickle-down economics is a myth. Enriching corporations - as the TPP would - will not necessarily help those in the middle, let alone those at the bottom.

Never complain of that of which it is at all times in your power to rid yourself.

Many individuals are doing what they can. But real success can only come if there is a change in our societies and in our economics and in our politics.