1,161 Quotes About Economics

Rejection is an opportunity for your selection.

Upper-middle income and high-income nations – countries over the threshold of $10,000 per capita – could in theory deliver flourishing lives for all, achieving real progress in human development, without needing any additional growth in order to do so. We know exactly what works: reduce inequality, invest in universal public goods, and distribute income and opportunity more fairly.

Our obsession with scarcity makes us take for granted the very things that our survival depends on—air, water, climate, food, safety or even relationships. It’s only when something critically important becomes scarce and hence expensive that the human mind begins to acknowledge its value.

1 billion people in the world are chronically hungry. 1 billion people are overweight.

In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.

The ideas of debtor and creditor as to what constitutes a good time never coincide.

It turned out that capitalism alone could make people not only rich and happy but also poor, hungry, miserable, and powerless.

The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam.Real wealth is tangible things produced with tangible effort. Loans made out of thin-air 'money' require no effort and are entirely ephemeral. But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.

America is the greatest engine of innovation that has ever existed, and it can't be duplicated anytime soon, because it is the product of a multitude of factors: extreme freedom of thought, an emphasis on independent thinking, a steady immigration of new minds, a risk-taking culture with no stigma attached to trying and failing, a noncorrupt bureaucracy, and financial markets and a venture capital system that are unrivaled at taking new ideas and turning them into global products.