1,161 Quotes About Economics

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.

The vast majority of Americans, at all coordinates of the economic spectrum, consider themselves middle class; this is a deeply ingrained, distinctly American cognitive dissonance.

Paying or having paid for something often makes it seem necessary; or better, more important, or more useful than it is.

Gold is the world's least understood asset class. Confusion arises because gold is traded like a commodity, yet gold is not a commodity, it is money.

Central banks and finance ministries do not hold copper, aluminum, or steel supplies, yet they hold gold. The only explanation for central bank gold hoards is the obvious one - gold is money.

Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them.

The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates £1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates £1bn in ticket sales.

Your comfort zone is a place where you keep yourself in a self-illusion and nothing can grow there but your potentiality can grow only when you can think and grow out of that zone.