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Economics Quotes
"Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The businessman's tool is values; the bureaucrat's tool is fear."
6
"She'd been fed anti-consumerist bullshit by her parents but didn't understand simple economics."
6
"Rejecting predatory capitalism in America is a way to respect and honor America."
5
"Money said, "I warn you that ignorance thrives on hysteria."
4
"The probable accumulation of the surpluses of revenue beyond what can be applied to the payment of the public debt... merits the consideration of Congress. Shall it lie unproductive in the public vaults?...Or shall it rather be appropriated to the improvements of roads, canals, rivers, education, and other great foundations of prosperity and union."
3
"One of the Great Rules of Economics According to John GreenIf you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart to get rich."
3
"The whole industry is so screwed up by economics. It's disgusting to me."
3
"Labor is prior to and independent of capital. Capital is only the fruit of labor and could never have existed if labor had not first existed. Labor is the superior of capital and deserves much the higher consideration."
3
"The owner of the means of production is in a position to purchase the labor power of the worker. By using the means of production, the worker produces new goods which become the property of the capitalist. The essential point about this process is the relation between what the worker produces and what he is paid, both measured in terms of real value. Insofar as the labor contract is "free," what the worker receives is determined not by the real value of the goods he produces, but by his minimum needs and by the capitalists' requirements for labor power in relation to the number of workers competing for jobs. It is important to understand that even in theory the payment of the worker is not determined by the value of his product."
3
"My first undertaking in the way of scientific experiment was in the field of economics and psychology."
3
"Your money myth affects your gain and luck.In economics, illusion of money affects wealth."
2
"I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer."
2
"There seem to be but three ways for a nation to acquire wealth. The first is by war...This is robbery. The second by commerce, which is generally cheating. The third by agriculture, the only honest way, wherein man receives a real increase of the seed thrown into the ground, in a kind of continual miracle, wrought by the hand of God in his favor, as a reward for his innocent life and his virtuous industry."
2
"Capitalism is a social system where the health and security of a nation are compromised for corporate gain."
2
"Any capitalist . . . who had made sixty thousand pounds out of sixpence, always professed to wonder why the sixty thousand nearest Hands didn't each make sixty thousand pounds out of sixpence, and more or less reproached them every one for not accomplishing the little feat. What I did you can do. Why don't you go and do it?"
2
"For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they-unlike most human beings-have the means of production, and human beings, because they-unlike all companies-have the means of reproduction."
2
"If it is asserted that civilization is a real advance in the condition of man - and I think that it is, though only the wise improve their advantages - it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run."
2
"If all the exchange-ratios of the past were erased from human memory, the process of market-price-determination might certainly become more difficult, because everybody would have to construct a new scale of valuations for himself; but it would not become impossible. In fact, people the whole world over are engaged daily and hourly in the operation from which all prices result: the decision as to the relative significance enjoyed by specific quantities of goods as conditions for the satisfaction of wants."
2
"The social function of economic science consists precisely in developing soundeconomic theories and in exploding the fallacies of vicious reasoning. In the pursuit ofthis task the economist incurs the deadly enmity of all mountebanks and charlatanswhose shortcuts to an earthly paradise he debunks. The less these quacks are able toadvance plausible objections to an economist's argument, the more furiously do theyinsult them."
2
"Where the currency depreciation is a result of government inflation carried out by the issue of notes, it is possible to avert its disastrous effect on economic calculation by conducting all bookkeeping in a stable money instead. But so far as the depreciation is a depreciation of gold, the world money, there is no such easy way out."
2
"The social displacements that occur as consequences of variations in the value of money result solely from the circumstance that this assumption never holds good. In the chapter dealing with the determinants of the objective exchange-value of money it was shown that variations in the value of money always start from a given point and gradually spread out from this point through the whole community."
1
"The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning."
1
"It is the consumers who make poor people rich and rich people poor."
1
"The mistake in the argument of those who suppose that a variation in the quantity of money results in an inversely proportionate variation in its purchasing power lies in its starting-point. If we wish to arrive at a correct conclusion, we must start with the valuations of separate individuals; we must examine the way in which an increase or decrease in the quantity of money affects the value-scales of individuals, for it is from these alone that variations in the exchange-ratios of goods proceed."
1
"Restrictionistic ideas have never met with any measure of popular sympathy except after a time of monetary depreciation when it has been necessary to decide what should take the place of the abandoned inflationary policy."
1
"Usually when people talk about the trickle-down theory, it has to do with economics. The richer people at the top of a society become, supposedly, the more wealth there is to trickle down to the people below. It never really works out that way, of course, because if there are 2 things people at the top can't stand, they have to be leakage and overflow."
1
"Anything which is physically possible can be made financially possible, if the people of a state desire it."
1
"The aim was to regulate the value of money by increasing or diminishing the quantity of it. The effects of these measures appeared to provide an inductive proof of the correctness of this superficial version of the Quantity Theory, and incidentally concealed the weaknesses of its logic."
1
"The State does not govern the market; in the market in which products are exchanged it may quite possibly be a powerful party, but nevertheless it is only one party of many, nothing more than that. All its attempts to transform the exchange-ratios between economic goods that are determined in the market can only be undertaken with the instruments of the market."
1
"But when States did debase the coinage, it was always from purely fiscal motives. The government needed financial help, that was all; it was not concerned with questions of currency policy."
1
"If you despise increase, you are a strange personality in the society."
1
"Miracle focus messages compels masses to think that the process of production is not necessary for prosperity."
1
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