1,161 Quotes About Economics

It is better to be roughly right than precisely wrong.

Financial literacy not only involves the ability to count your money, it also tests your ability to evaluate the cost and benefit associated with each decision you make.

A black market is the part of a free market that refuses to knuckle under to government oppression.

Greece's bailout, then Ireland's, then Portgual's, then Spain's were primarily rescue packages for French and German banks.

China, of course, gains access to commodities, but host countries get the loans to finance infrastructure developmental programs in their economies, they get to trade (creating incomes for their domestic citizenry), and they get investments that can support much-needed job creation.

Researchers may have some conscious or unconscious bias, either because of a strongly held prior belief or because a positive finding would be better for their career. (No one ever gets rich or famous by proving what doesn't cause cancer.)

They were not charity cases. They were businesses waiting to start, individuals striving to prosper, families searching for a better life. The main thing they lacked was cash.

. . .cash is highly effective at slashing the poverty rate. Moreover, GiveDirectly argues that cash is more valuable to its recipients than in-kind gifts, such as food or bed nets or sports equipment. If you’re hungry, you cannot eat a bed net. If your village is suffering from endemic diarrhea, soccer balls won’t be worth much to you.

...the ultimate goal of economic activity is to improve the welfare of people.