Quotes by Economist | Beyond Motive 11/40

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Quotes by Economist

"Contagion has become very much a phenomenon, and it's a phenomenon of globalization."

"Contagion has become very much a phenomenon, and it's a phenomenon of globalization."

Lawrence Summers, American Economist

15

"We do not want to live in a theocracy. We should maintain that barrier and government has no business telling someone what they ought to believe or how they should conduct their private lives."

"We do not want to live in a theocracy. We should maintain that barrier and government has no business telling someone what they ought to believe or how they should conduct their private lives."

Robert Reich, American Economist

Business, Government, Want

15

"More die in the United States of too much food than of too little."

"More die in the United States of too much food than of too little."

John Kenneth Galbraith, American Economist

Food, States, United

15

"Never develop any mysticism, about love; for love itself is a mystic thing that puts you in a mystic situation."

"Never develop any mysticism, about love; for love itself is a mystic thing that puts you in a mystic situation."

Auliq Ice, Ugandan Economist

Mysticism, Love, Emotion, Truth

15

"An early fascination with higher mathematics at the university level blossomed into speculative thinking that could provide a basis for dealing with economic issues."

"An early fascination with higher mathematics at the university level blossomed into speculative thinking that could provide a basis for dealing with economic issues."

Lawrence R. Klein, American Economist

Education, Mathematics, Thinking, University

15

"It is obvious, moreover, that the formation of price in capitalist society must differ from the formation of price in social conditions based upon the simple production of commodities."

"It is obvious, moreover, that the formation of price in capitalist society must differ from the formation of price in social conditions based upon the simple production of commodities."

Rudolf Hilferding, Austrian Economist

Society, Obvious, Production

15

"The liberal ideal is that everyone should have fair access and fair opportunity. This is not equality of result. It's equality of opportunity. There's a fundamental difference."

"The liberal ideal is that everyone should have fair access and fair opportunity. This is not equality of result. It's equality of opportunity. There's a fundamental difference."

Robert Reich, American Economist

Equality, Opportunity, Difference, Liberal

15

"The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper."

"The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper."

John Hull, American Economist

15

"There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk."

"There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk."

John Hull, American Economist

15

"The most fundamental fact about the ideas of the political left is that they do not work. Therefore we should not be surprised to find the left concentrated in institutions where ideas do not have to work in order to survive."

"The most fundamental fact about the ideas of the political left is that they do not work. Therefore we should not be surprised to find the left concentrated in institutions where ideas do not have to work in order to survive."

Thomas Sowell, American Economist

Work, Ideas, Fact, Order

15

"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics."

"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics."

Thomas Sowell, American Economist

Politics, Economics, First, Want

15

"The first issue to be settled is whether socialism has a right to exist Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question."

"The first issue to be settled is whether socialism has a right to exist Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question."

John Bates Clark, American Economist

Power, First, Fraud, Present

15

"Invention is the mother of necessity."

"Invention is the mother of necessity."

Thorstein Veblen, American Economist

Family, Mother, Invention, Necessity

15

"I had to think whether, after 50 years of hard slog, I was still lucid and fresh enough for the job."

"I had to think whether, after 50 years of hard slog, I was still lucid and fresh enough for the job."

Jacques Delors, French Economist

15

"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."

"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, American Economist

Education, Schools, University, Washington

15

"Germany stays and falls with the success of the policy of Hitler."

"Germany stays and falls with the success of the policy of Hitler."

Hjalmar Schacht, German Economist

Success, Policy, Germany

15

"It's not government's business what people do in their private bedrooms."

"It's not government's business what people do in their private bedrooms."

Robert Reich, American Economist

Business, People, Government

15

"There are times in politics when you must be on the right side and lose."

"There are times in politics when you must be on the right side and lose."

John Kenneth Galbraith, American Economist

Politics, Right

15

"If all else fails, immortality can always be assured by spectacular error."

"If all else fails, immortality can always be assured by spectacular error."

John Kenneth Galbraith, American Economist

Mistake, Error, Immortality

15

"The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes."

"The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes."

Milton Friedman, American Economist

Government, Internet, Taxes, Will

15

"Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh."

"Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh."

Thomas J. Sargent, American Economist

Media, Day, Expectations, Spring, University

15

"The unions still have a job to do, representing their members' interests to governments and parliaments. And I think collective agreements still have a role, alongside markets and laws."

"The unions still have a job to do, representing their members' interests to governments and parliaments. And I think collective agreements still have a role, alongside markets and laws."

Jacques Delors, French Economist

15

"One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low."

"One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low."

John Hull, American Economist

15

"After the many rumours that we had heard about Hitler and the published criticisms we had read about him, we were pleasantly impressed. His appearance was neither pretentious nor affected."

"After the many rumours that we had heard about Hitler and the published criticisms we had read about him, we were pleasantly impressed. His appearance was neither pretentious nor affected."

Hjalmar Schacht, German Economist

15

"War remains the decisive human failure."

"War remains the decisive human failure."

John Kenneth Galbraith, American Economist

15

"If you want to say no, be firm and direct."

"If you want to say no, be firm and direct."

Auliq Ice, Ugandan Economist

Assertiveness, Decision, Choice, Strength, Life

15

"It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce."

"It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce."

David Ricardo, British Economist

Economy, Class, Profit, Quantity, Wages

15

"We are entering a new phase in human history - one in which fewer and fewer workers will be needed to produce the goods and services for the global population."

"We are entering a new phase in human history - one in which fewer and fewer workers will be needed to produce the goods and services for the global population."

Jeremy Rifkin, American Economist

History, Population, Will, Workers

15

"Politicians like to tell people what they want to hear - and what they want to hear is what won't happen."

"Politicians like to tell people what they want to hear - and what they want to hear is what won't happen."

Paul Samuelson, American Economist

People, Politicians, Want

15

"If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles."

"If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles."

Lawrence Summers, American Economist

History, Idea, Innovation

15

"Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised."

"Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised."

John Kenneth Galbraith, American Economist

Economy, Boredom, Economics

15

"Power is not something that can be assumed or discarded at will like underwear."

"Power is not something that can be assumed or discarded at will like underwear."

John Kenneth Galbraith, American Economist

15

"No man pays double or twice for the same thing, forasmuch as nothing can be spent but once."

"No man pays double or twice for the same thing, forasmuch as nothing can be spent but once."

William Petty, English Economist

15

"Admirations are never paid in any way, try to make yourself of what you admire, and it will pay you with originality."

"Admirations are never paid in any way, try to make yourself of what you admire, and it will pay you with originality."

Auliq Ice, Ugandan Economist

Originality, Admiration, Self, Life

15

"A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits."

"A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits."

David Ricardo, British Economist

Money, Effect, Reason, Value

15

"Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular."

"Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular."

Larry Summers, American Economist

15

"The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined."

"The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined."

David Ricardo, British Economist

Finance, May, Support, Tools

15

"Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner."

"Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner."

Ludwig von Mises, Austrian Economist

15

"When interest rates are high you want the average direction in which interest rates are moving to be downward; when interest rates are low you want the average direction to be upward."

"When interest rates are high you want the average direction in which interest rates are moving to be downward; when interest rates are low you want the average direction to be upward."

John Hull, American Economist

Direction, Interest, Want

15

"The problem with interest rates are that you are not modeling a single number, you are modeling a whole term structure, so it is a sort of different type of problem."

"The problem with interest rates are that you are not modeling a single number, you are modeling a whole term structure, so it is a sort of different type of problem."

John Hull, American Economist

15

"Poorly paid labor is inefficient labor, the world over."

"Poorly paid labor is inefficient labor, the world over."

Henry George, American Economist

15

"I work for a Government I despise for ends I think criminal."

"I work for a Government I despise for ends I think criminal."

John Maynard Keynes, English Economist

Government, Work

15

"There is a crisis of public morality. Instead of policing bedrooms, we ought to be doing a better job policing boardrooms."

"There is a crisis of public morality. Instead of policing bedrooms, we ought to be doing a better job policing boardrooms."

Robert Reich, American Economist

Morality, Crisis, Job, Public

15

"It may be those who do most, dream most."

"It may be those who do most, dream most."

Stephen Leacock, Canadian Economist

Inspirational, Dream, May

15

"Fundamentally, American society is composed of individuals who don't go out of their way to do each other favours."

"Fundamentally, American society is composed of individuals who don't go out of their way to do each other favours."

Jacques Delors, French Economist

Society, American

15

"Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us."

"Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us."

Larry Summers, American Economist

Time, Nation, Now

15

"The expansion of the market creates a need for enhanced and more regular supply, and this in turn impels commercial capital to acquire control of production as well."

"The expansion of the market creates a need for enhanced and more regular supply, and this in turn impels commercial capital to acquire control of production as well."

Rudolf Hilferding, Austrian Economist

Control, Production, German

15

"It's a lie, but Heaven will forgive you for it."

"It's a lie, but Heaven will forgive you for it."

Stephen Leacock, Canadian Economist

Humor, Lie, Heaven, Will

15

"The antitrust litigation currently in the federal courts in the U.S. against Monsanto will be the test case in the life sciences, just as the Microsoft case was the test case in the information sciences."

"The antitrust litigation currently in the federal courts in the U.S. against Monsanto will be the test case in the life sciences, just as the Microsoft case was the test case in the information sciences."

Jeremy Rifkin, American Economist

Life, Information, Will

15

"I started working and publishing in price theory by 1938."

"I started working and publishing in price theory by 1938."

George Stigler, American Economist

Education, Publishing, Theory

15

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