1,161 Quotes About Economics

Protectionism does not produce wealth, and free trade and economic openness are ultimately in everyone’s interest

lthough the basic principles of economics are not very complicated, the very ease with which they can be learned also makes them easy to dismissed as "simplistic" by those who do not want to accept analyses which contradict their cherished beliefs. Evasions of the obvious are often far more complicated than the facts. Nor is it automatically true that complex effects must have complex causes. The ramifications of something very simple can become enormously complex.

Microeconomists are wrong about specific things and macroeconomists are wrong about things in general!

Whatever Latin America sells—raw materials or manufactures—its chief export product is really cheap labor.

An older generation, chastened by one depression, is afraid to be optimistic; and a younger generation, accustomed to security, is inexperienced at being pessimistic.

He never sat an examination in economics: his knowledge came from pondering problems and discussing them as much as from book-learning.

Experiment and reason, tempered by intuition, were to him preferable to solid plodding in the well-trodden paths of experience.

At present", Keynes said in 1926, "everything is politics, and nothing policies.

The dream of a planned, fair, moral, ethical, cash-free society remains strong, particularly among socialists and liberals. It clearly represents a fundamental human instinct. But feudalism just did not work very well, if only because powerful people will not always obey moral imperatives.