1,161 Quotes About Economics

Creativity is a form of superhuman magic that transforms the ordinary, mundane or merely functional into something more dynamic, fun, spirited, sensory, useful and beautiful. It is the result of a ginormous human imagination coalescing with dirty stubborn, real world problems in order to give birth to something mind-blowing distinctive, original and godlike.

The question of how we value life is central to economics. What we value is what we end up working for.

The ugly truth is that no employer hires anyone unless they can extract more value from them than they have to pay out in wages and benefits.

Finally, as 9/11 fell on December 7, 1941, America entered World War II, and wouldn’t you know it, the US actually recovered from the Depression. It turned out that with state control of production and jobs for all, a nation could spend its way out of misery. Of course, this proof of concept of planned economies was instead interpreted as a reason to constantly go to war.

A healthy Banking system is one of the vital parts of a nation's foundation.

American capitalism replaced some of the old colonial capitalisms in the countries that began their independent life. But it knows that this is transitory and that there is no real security for its financial speculation in these new territories. The octopus cannot there apply its suckers firmly. The claw of the imperial eagle is trimmed. Colonialism is dead or is dying a natural death in all these places.

No other system of economic organizing rewards merit, hard work and creativity the way Capitalism does.

Housework, handicrafts, subsistence agriculture, radical technology, learning exchanges, and the like are degraded into activities for the idle, the unproductive, the very poor, or the very rich. A society that fosters intense dependence on commodities thus turns its unemployed into either its poor or its dependents.

Cuando no tenemos evidencia concreta, utilizamos correctamente las probabilidades básicas; cuando disponemos de evidencia concreta pero inútil, no se tienen en cuenta las probabilidades básicas