1,161 Quotes About Economics

Your every positive action in your life will increase your self-esteem and this self-esteem will boost you for more positive action to take you on success

Separating land, labour and capital as independent and seemingly autonomous factors of production had a double advantage for the ruling classes since it permitted them to proclaim 'the physical necessity and eternal justification of their sources of revenue' at the same time as it suppressed any notion of exploitation since the act of production could in principle be portrayed as the harmonious assembly of separate and independent factors of production.

...she slicked her lips with a balm she suspected was secretly made in the same factory as ChapStick, but at the end of the mixing process, instead of pouring it into a tube, they poured it into a little round plastic thing, added a drop of vanilla, and sold it for sixteen dollars.

The challenge that faced the English in the seventeenth century was how to curb the power of an absolute monarch. In the twenty-first century, it is the markets that have taken on the mantle of absolutism, placing themselves about the jurisdiction of national governments.

...the key to successful development performance is achieving a careful balance among what government can successfully accomplish, what the private market system can do, and what both can best do when working together.

Not all influences of colonialism were necessarily bad. Along with enslavement, subjugation, exploitation, loss of cultural heritage, and repression, colonists also brought modern scientific methods in fields such as medicine and agriculture. Note that this can be no apologia for colonialism, because these advances could have been gained without the societies' becoming colonised, as in Japan.

Wage changes occur at infrequent intervals and condition the behaviour of the parties concerned for the ensuing economic period (sometimes months, usually years).

Economics is about tools. And the most important of these tools, the one without which the others won't work, is language.

Strong European states had simultaneously created barriers to the import of foreign textiles just as they built a system for the appropriation of foreign technology. By orchestrating economic processes in Asia, Africa, and the Americas as well as in Europe, Europeans gained the paradoxical ability to direct the global trade in Indian textiles while at the same time keeping Asian cloth increasingly out of Europe, instead trading the products in Africa and elsewhere beyond Europe’s shores.