1,161 Quotes About Economics

John Law’s 'Money and Trade Considered' is the most influential but least acknowledged work in the history of economics.

John Law’s role in resolving the Water Diamond Paradox has been largely forgotten. The name now associated with it is another Scottish economist, Adam Smith. Writing over seventy years after the publication of 'Money and Trade Considered', Smith’s celebrated restatement of the paradox of value, in 'An Inquiry into the Nature and Causes of the Wealth of Nations' is astonishing not for its originality, but for its similarity with John Law’s resolution decades before.

John Law left us with a legacy that continues to have a profound impact in the spheres of economics, public policy, finance, and, as a result, the very foundations upon which modern society has been constructed.

John Law was a first rate economist. His 'Money and Trade Considered' was a tremendous academic achievement that has formed the (unacknowledged) basis of many of the advancements in our understanding of the economic environment in which we all live.

The demand for A is the demand for A

How, for example, should the traditional society react to the intrusion of a more advanced power: with cohesion, promptness, and vigour, like the Japanese; by making a virtue of fecklessness, like the oppressed Irish of the eighteenth century; by slowly and reluctantly altering the traditional society, like the Chinese?

Marx's simultaneous critique of the categories of political economy, of utopian socialism and of Hegel does not aim to replace them with an improved set. He grasps them as expressions of the way that humanity is concealed within inhumanity. By tracing their logical interconnections, he finds the way to break their stranglehold on our consciousness and on our lives.

Cambiando el contexto en que se comparan dos cosas se ocultan ciertos rasgos y emergen otros a la superficie

Interestingly, these conclusions issued from purely abstract thought experiments, not from any research on political practice.