1,161 Quotes About Economics

I was struck by a shallow figure of speech. . . . that Christianity is the handmaiden of capitalism.

Evolved human instinct may be a much better at statistics than modern economists

In every area, i.e. what protects the workers, the employers, the consumers.. it's always the existence of variety and alternatives.

Altruism, generosity, solidarity and civic spirit are not like commodities that are depleted with use. They are more like muscles that develop and grow stronger with exercise. One of the defects of a market-driven society is that it lets these virtues languish. To renew our public life we need to exercise them more strenuously.

Every human society must justify its inequalities: unless reasons for them are found, the whole political and social edifice stands in danger of collapse.

In the earlier era, the subject of economics was geared to human needs. Now, the prime emphasis is on market behaviour and market outcomes based on choices under uncertainty and scarcity. The emphasis on choice behaviour subtly and inadvertently makes economics and most of its contents largely irrelevant for poor people.

When welfare is discussed in microeconomics textbooks, it is only in the domain of economic exchange in markets. The discussion in such places sets total welfare maximization as the virtuous end or criterion. In first-degree price discrimination adopted by a monopolist, there is no welfare loss. However, there is no consumer surplus either despite having optimal efficiency. Economics is neutral between desirable or undesirable equilibrium from the point of view of equity.

bankers steal money for the same reason that heroin addicts do. They've been put in a position where they cannot get the money they need by honest means. In an egalitarian society that happens a lot less.

All charities would disappear from earth once the governments start taxing the rich 90% of their income and investing that revenue in public essentials – such as, groceries, housing, healthcare and education.