418 quotes found
“Economic crises breed war.”
“An older generation, chastened by one depression, is afraid to be optimistic; and a younger generation, accustomed to security, is inexperienced at being pessimistic.”
“A fool believes that the society of the future will transcend the laws of economics. A person of reason hopes that it will finally learn to respect them.”
“Microeconomists are wrong about specific things and macroeconomists are wrong about things in general!”
“In my experience, economists rarely believe passionately in, or care passionately for, the free market. They are generally more concerned to reveal the market's imperfections, to further their own ...”
“Now, in the modern money economy everything in the nature of a social-economic occurrence consists in human actions and behaviour.”
“...the facts of economic life cannot be comprehensively described in terms of statistics.”
“Orthodoxy builds a rococo logical palace on loose empirical sand.”
“Too many economists excuse their practical failure by saying "the politicians (or bureaucrats) didn't do exactly what I recommended." Just as medical practitioners must allow for the fact that thei...”
“Anything which is physically possible can be made financially possible, if the people of a state desire it.”
“... it will appear that there is no such thing as fixed capital; there is nothing useful that is very old except the precious metals, and all life consists in the conversion of forms. The only capi...”
“lthough the basic principles of economics are not very complicated, the very ease with which they can be learned also makes them easy to dismissed as "simplistic" by those who do not want to accept...”
“Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy.”
“Even in recent times, the empirical evidence does not support the claim that trade liberalization or incentive neutrality leads to faster growth. It is true that higher manufacturing growth rates h...”
“In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
“Experiment and reason, tempered by intuition, were to him preferable to solid plodding in the well-trodden paths of experience.”
“He never sat an examination in economics: his knowledge came from pondering problems and discussing them as much as from book-learning.”
“The science of public happiness was how Keynes saw his work as an economist.”
“At present", Keynes said in 1926, "everything is politics, and nothing policies.”
“I think the very best attitude for anyone investing in the stock market is to make up his mind to lose money. The Duchess Gloriana XII”
