1,161 Quotes About Economics

The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power.

In the case of money, subjective use-value and subjective exchange-value coincide. Both are derived from objective exchange-value, for money has no utility other than that arising from the possibility of obtaining other economic goods in exchange for it.

It's easy to make money when you have a lot of it.

Economics without ethics is a caricature. Ethics without economics is a fairy tale.

Be careful... any time you find yourself defining the "winner" as someone other than the agent who is currently smiling from on top of a giant heap of utility

There is no economic law that says that everyone, or even most people, automatically benefit from technological progress.

What ranks above all else for economic and political reconstruction is a radical change of ideologies. Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

Recall that the minimum wage was initially conceived as a method to exclude undesirables from the workforce.

Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be dictators, politicians, and bureaucrats, which is precisely why these groups are the proven enemies of prosperity in all times and places.