Quotes by Economists

The welfare of a nation can scarcely be inferred from a measurement of national income as defined by the GDP. Simon Kuznets
Measurement Welfare Nation National Defined Scarcely Income
At the World Bank, we are already working with our clients in developing countries to improve their governance systems, collect taxes, fight corruption, and recover stolen assets. Sri Mulyani Indrawati
Fight Corruption World Our Collect Systems Recover Developing Developing Countries Countries Clients Governance Improve Stolen Bank Taxes Working World Bank Assets
Writing is no trouble: you just jot down ideas as they occur to you. The jotting is simplicity itself - it is the occurring which is difficult. Stephen Leacock
You Writing Simplicity Trouble Down Difficult Jot Ideas Occur Itself Just Which
The ordeal of virtue is to resist all temptation to evil. Thomas Malthus
Evil Virtue Temptation Ordeal Resist
Private property and the market system are good not only to promote innovation and to promote growth; private property and the market system are good for our personal freedom. Thomas Piketty
Good Freedom Property Innovation Market Our System Promote Only Private Private Property Personal Personal Freedom Growth
Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets. Thomas Sowell
Seem More Budget Budgets Likely Balanced Balanced Budget Genuinely Accounting Than Ingenuity Produce Requirements
Brainy folks were also present in Lyndon Johnson's administration, especially in the Pentagon, where Secretary of Defense Robert McNamara's brilliant 'whiz kids' tried to micro-manage the Vietnam war, with disastrous results. Thomas Sowell
War Brainy Brilliant Defense Lyndon Secretary Kids Administration Tried Pentagon Folks Johnson Results Disastrous Robert Also Were Where Vietnam Vietnam War Whiz Present
If you want to get each individual's honest opinion, you don't want that opinion to be influenced by others who are present, much less allow a group to coordinate what they are going to say. Thomas Sowell
You Group Others Say Individual Allow Opinion Get Going Influenced Want Much Less Who Each Coordinate Present Honest
The Massachusetts Institute of Technology accepts blacks in the top ten percent of students, but at MIT this puts them in the bottom ten percent of the class. Thomas Sowell
Technology Class Top Top Ten Percent Blacks Ten Students Bottom Puts Institute Massachusetts Accepts MIT Them
Just what is it that academics have to fear if they stand up for common decency, instead of letting campus barbarians run amok? Thomas Sowell
Fear Decency Run Instead Academics Up Campus Just Common Barbarians Stand Stand Up Letting
Groups that rose from poverty to prosperity seldom did so by having their own racial or ethnic leaders to follow. Thomas Sowell
Prosperity Poverty Own Rose Follow Having Seldom Leaders Did Racial Ethnic Groups
Many people, including some conservatives, have been very impressed with how brainy the president and his advisers are. But that is not quite as reassuring as it might seem. Thomas Sowell
People Brainy President Conservatives Some Seem Adviser How Been His Impressed Very Quite Might Many Reassuring Including
You don't send people to prison on the basis of what other people imagine, or on the basis of media sound bites like 'shooting an unarmed child,' when that 'child' was beating him bloody. Thomas Sowell
You People Prison Other Bites Unarmed Beating Like Him Sound Sound Bites Bloody Child Shooting Send Media Basis Imagine
In order to stand well in the eyes of the community, it is necessary to come up to a certain, somewhat indefinite, conventional standard of wealth. Thorstein Veblen
Eyes Wealth Community Indefinite Somewhat Come Well Up Order Conventional Certain Stand Standard Necessary
We need to accept the principle that sometimes poor people will die just because they are poor. Tyler Cowen
People Sometimes Will Principle Accept Because Die Just Just Because Poor Poor People Need
Adventure upon all the tickets in the lottery, and you lose for certain; and the greater the number of your tickets the nearer your approach to this certainty. Adam Smith
You Science Lose Approach Adventure Tickets Greater Lottery Certain Your Certainty Nearer Number
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Alan Greenspan
Finance Inflation Value Savings Way Absence Through Safe Protect Gold Gold Standard Store Confiscation Standard
The purpose of a politician is to be a leader. A politician has to lead. Otherwise he's just a follower. Alan Greenspan
Follower Leader Politician Otherwise Purpose Lead He Just
I stated that I'm a libertarian Republican, which means I believe in a series of issues, such as smaller government, constraint on budget deficits, free markets, globalization, and a whole series of other things, including welfare reform. Alan Greenspan
Government Welfare Free Believe Other Stated Deficits Markets Libertarian Constraint Free Markets Smaller Smaller Government Budget Budget Deficits Welfare Reform Globalization Issues Reform Which Republican Means Whole Series Including Things
There is a huge number of people outside our borders who would love to come here. In fact, many of them come here, get well educated, and then are required to leave... This is a factor in income inequality. Alan Greenspan
Love People Our Would Borders Fact Factor Outside Come Well Well-Educated Inequality Leave Educated Huge Huge Number Get Get Well In Fact Them Then Required Who Many Income Income Inequality Here Number
Fear invariably and universally induces disengagement, and disengagement is negative division of labor. Alan Greenspan
Fear Negative Invariably Division Labor Disengagement Universally
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart. Alan Greenspan
Fear Fall Down Critical Slowly Bubbles Contagion Sharply Look Forces Sort Builds Causes Go Intellectually Up Dominant Very Shocked Hits Size Which Apart Then Euphoria Many Thing Started Phenomenon
I've been around long enough to know that a good deal of the praise heaped on me I had nothing to do with. The only thing I did object to was the fact that where the criticism was actually wrong. Did it bother me? Of course it bothered me. But I've been around long enough to have ups and downs. So you get over it. Alan Greenspan
Good Me You Ups And Downs Criticism Long Nothing Enough Object Only Fact Bother Bothered Had Wrong Over Over It Know Course Around Deal Praise Been Get Did Ups Where The Only Thing Good Deal Downs Actually Thing
We need, in effect, to make the phantom 'lock-boxes' around the trust fund real. Alan Greenspan
Trust Make Around Real Effect Trust Fund Fund Phantom Need
There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy - our overall standard of living - will not rise as much as it could. Alan Greenspan
Will Rest Living Society Our Way Would Rise Winners Could Support Like Overall Economy Parts Limited Losers Capital Much Means Standard Help
We really can't forecast all that well, and yet we pretend that we can, but we really can't. Alan Greenspan
Pretend Well Forecast Really
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