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Quotes by Economist
"But whether, for example, a coat can be exchanged for twenty yards of linen cloth or for forty yards is not a matter of chance, but depends upon objective conditions, upon the amount of socially necessary labor time contained in the coat and in the linen respectively."
31
"The confounding Political Economy with the Sciences and Arts to which it is subservient, has been one of the principal obstacles to its improvement."
31
"These days there are not enough of such intermediary groups, between the state and the individual, with the result that political leaders are often unduly guided by opinion polls."
31
"My main graduate training was received at the University of Chicago from which I received the Ph.D. in 1938."
31
"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."
31
"Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom."
31
"The publication of the third volume of Capital has made hardly any impression upon bourgeois economic science."
31
"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."
31
"The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit."
31
"Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics."
31
"The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past."
31
"I knew that discrimination existed, even though there were many individuals who were not prejudiced."
31
"The status quo is the only solution that cannot be vetoed."
31
"Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective."
31
"Government is the great fiction, through which everybody endeavors to live at the expense of everybody else."
31
"Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently."
31
"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,
30
"Second, there were the discussions and drafts leading up to the White Paper on Employment Policy of 1944 in which the UK government accepted the maintenance of employment as an obligation of governmental policy."
30
"You know, I think the, the crucial thing, you know, we have put in place what is, is just simply the biggest, boldest recovery package in history, right; the stimulus package, biggest ever; the financial rescue, absolutely comprehensive; a housing plan - that is incredible medicine for the economy. And we fully expect it to work."
30
"Here we are to remember that in consequence of our opinion that labor is the Father and active principle of wealth, as lands are the Mother, that the state by killing, mutilating, or imprisoning their members do withal punish themselves."
30
"For me, our beaches have always been a source of personal inspiration."
30
"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."
30
"But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs."
30
"The position I took at the time was that we hadn't really examined any of the potential environmental consequences of introducing genetically modified organisms."
30
"Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices."
30
"The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy."
30
"In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues."
30
"Since the end of the nineteenth century, if not earlier, presidents have misled the public about their motives and their intentions in going to war."
30
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