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Quotes by Economist
"Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive."
12
"I think it's important that people think about what they are doing and that includes what they are eating. I am 61 now and attitudes towards drinking and driving have changed radically since I was a student. People change their notion of what is responsible. They will increasingly ask about the carbon content of their food."
12
"During the period of capital moving from one employment to another, the profits on that to which capital is flowing will be relatively high, but will continue so no longer than till the requisite capital is obtained."
Will,
12
"In my view, there is an urgent need to communicate with the public and help to explain where there is consensus, and where are there doubts about the issues of sustainable development."
12
"The march of science and technology does not imply growing intellectual complexity in the lives of most people. It often means the opposite."
12
"In the United States, though power corrupts, the expectation of power paralyzes."
12
"My interests were aroused, and my faith in the cliches of the subject destroyed, as so often with other subjects, by the discussions with my friend, Aaron Director."
12
"I wish it were simply a nightmare, but I think that any reasonable person watching American politics would come to the conclusion that a second Bush administration would in fact incorporate a more radicalized version of what we've seen in the first administration."
12
"Only now did I recognize the reciprocal relationship which exits between manufacturing power and the national system of transportation, and that the one can never develop to its fullest without the other."
12
"What is ominous is the ease with which some people go from saying that they don't like something to saying that the government should forbid it. When you go down that road, don't expect freedom to survive very long."
12
"I gradually became persuaded that the subjects, without intending to, had revealed to me a basic truth about markets that was foreign to the literature of economics."
12
"There is danger in reckless change, but greater danger in blind conservatism."
12
"Since our economy is closely allied with that of foreign countries, not one of us can be indifferent to what consequences these disturbances can have at home and abroad."
12
"Allied supplies of arms to Russia, and the manpower reserves of Russia have been sufficient to bring continuous counter-attacks against our Eastern Front."
12
"I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard."
12
"It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it."
12
"I have learned as much in the last three years as in any other comparable period of my life, but with an added realisation of how little over a half century of study one has in fact managed to learn of the whole range of economic policy issues."
12
"But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs."
12
"As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns."
12
"The public should know that the liability issues here have yet to be resolved, or even raised. If you're a farmer and you're growing a genetically engineering food crop, those genes are going to flow to the other farm."
12
"Granted, many of them replied, that socialism may not result in riches for all but rather in a smaller production of wealth; nevertheless the masses will be happier under socialism, because they will share their worries with all their fellow citizens, and there will not be wealthier classes to be envied by poorer ones. The starving and ragged workers of Soviet Russia, they tell us, are a thousand times more joyful than the workers of the West who live under conditions which are luxurious compared to Russian standards; equality in poverty is a more satisfactory state than well-being where there are people who can flaunt more luxuries than the average man."
12
"The only relevant test of the validity of a hypothesis is comparison of prediction with experience."
12
"Our tree is actually a tree of the short-term interest rate. The average direction in which the short-term interest rate moves depends on the level of the rate. When the rate is very high, that direction is downward; when the rate is very low, it is upward."
12
"Clean air is a basic right. The responsibility to ensure that falls to Congress and the president."
12
"We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises."
12
"The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people."
12
"After the war, I returned to Minnesota, from which I soon moved to Brown University, and a year later, to Columbia University where I remained from 1947 until 1958."
12
"Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production."
12
"The Chicago Economics Department was in intellectual ferment, although the central issues of the 1930's were very different from those in later times. I had never before encountered minds of that quality at close quarters and they influenced me strongly."
12
"Born in iniquity and conceived in sin, the spirit of nationalism has never ceased to bend human institutions to the service of dissension and distress."
12
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