1,161 Quotes About Economics

...the facts of economic life cannot be comprehensively described in terms of statistics.

It [economics] facilitates our understanding of the well-being of societies and the challenges they face; it explains many of the daily interactions between individuals, companies and governments, and it offers a guide to understanding political and social trends that are shaping our world.

it is easier to induce national governments to discriminate against foreign producers than to defend the interests of domestic consumers

Save the trees! Return to the gold standard!

Socialism may be established by force, as in the Union of Soviet Socialist Republics—or by vote, as in Nazi (National Socialist) Germany. The degree of socialization may be total, as in Russia—or partial, as in England. Theoretically, the differences are superficial; practically, they are only a matter of time. The basic principle, in all cases, is the same.

The profit of the one is the profit of the other.

In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.

I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.

Small differences in a system of great power can have enormous consequences. [Source: Al Jazeera 'Upfront' interview]