2214 quotes by economists for you to enjoy

My mother is from Greece: she comes from Vrahos, a small village in Kastoria. Athanasios Orphanides

Mother Small She Greece Village

In order for the E.U. area to stay together, they needed to form a banking union, which meant they needed to have a common credible deposit insurance guarantee for everybody in the E.U. area. Athanasios Orphanides

Together Everybody Stay Area Insurance Common Banking Order Form Which Deposit Meant Union Credible Guarantee Needed

Cyprus had developed its financial center over three decades ago by having double taxation treaties with a number of countries: the Soviet Union, for example. That means if profits are booked and earned and taxed in Cyprus, they are not taxed again in the other country. Athanasios Orphanides

Financial Three Example Country Other Earned Booked Having Had Developed Countries Over For Example Decades Soviet Soviet Union Center Again Taxation Taxed Double Means Union Cyprus Profits Treaties Number

The 24% unemployment reached at the depths of the Great Depression was no picnic. Barry Eichengreen

Depression Great Great Depression Picnic Reached Unemployment Depths

The consequences of a collapse would not be pretty. Whichever country precipitated it - Germany by threatening to abandon the euro, or Greece or Spain by actually doing so - would trigger economic chaos and incur its neighbours' wrath. Barry Eichengreen

Country Consequences Chaos Collapse Abandon Neighbours Would Trigger Threatening Wrath Pretty Economic Doing Greece Germany Spain Euro Actually

The 1992 crisis proved that the existing system was unstable. Not moving forward to the euro would have set up Europe for even more disruptive crises. Barry Eichengreen

Moving Forward Crises Crisis System Would More Unstable Proved Existing Up Moving Euro Europe Forward Even Disruptive Set

This crisis of long-term unemployment is having a profoundly damaging impact on the lives of those bearing the brunt of it. We know this thanks to a series of careful studies of the problem conducted in the depths of the 1930s Great Depression. Barry Eichengreen

Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that as many as two million workers avoided unemployment as a result of his efforts to promote work-sharing. Barry Eichengreen

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed. Benjamin Graham

Wall Street people learn nothing and forget everything. Benjamin Graham

People Nothing Everything Learn Wall Wall Street Forget Street

My teacher, Professor Smil Sommarin, was a fine pedagogue, a very generous person, and a great admirer of Kurt Wicksell. Bertil Ohlin

Teacher Great Fine Admirer Generous Kurt Very Person Professor

I was born into an upper-middle class family in a village in the South of Sweden in April 1899. It was a large family with seven children, a large house, and a home which was very hospitable and open to friends and relatives. Bertil Ohlin

Home Family Class Relatives Seven April Class Family Born Open House South Friends Very Children Which Sweden Large Large Family Village

In 1922, I got a small stipend from the Swedish-American Foundation and went to Cambridge, England, for a few months and thereafter to Harvard University. In the summer, Cambridge was rather empty, but I am grateful for many pleasant talks about economics with Austin Robinson who, in the summer of 1922, seemed to be about as lonely as I was. Bertil Ohlin

Grateful Lonely Economics Few Pleasant Summer Months Harvard About Seemed Rather Small Robinson Empty Talks Got Am Cambridge Austin England Who Thereafter Many Foundation University

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information. Christina Romer

Future People Wealth Made Market Market Crash Spending Destroy About Rather More Consumers Highly Unsure Particularly Make October Waited Led Stock Very Stock Market Stop Crash Information Them Pessimistic Companies Large Income Amount

The most effective way to shake an economy out of a terrible downturn when we're at the zero lower bound is an aggressive change in policy that makes people wake up, say 'this is a new day' and change their expectations. Christina Romer

Day Change People Wake Up Aggressive Way Say Out Shake Bound New Economy Most Terrible New Day Policy Makes Wake Effective Effective Way Up Expectations Lower Zero Downturn

What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking. Christina Romer

Saying You Financial Long Pay Minding Our Say Focused Risk-Taking Shareholders Long-Term Term Like Because Least Reform Efforts Going Heaven Rewards Store Sensible Short-Term Should Regulatory Things Compensation

I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something the president has said that we need to, as the economy recovers, have a plan in place for getting it down. Christina Romer

Looking Down Think President Deficit Bit About Something Recovers Absolutely Road Economy Said Getting Differ Where Place Little Little Bit Plan Certainly Down The Road Need

If you look at the studies coming out of the Congressional Budget Office, the number one thing that's going to blow a hole in the deficit as we go forward 20, 30 years is government spending on healthcare. Christina Romer

The basic idea that if you increase government spending or you cut people's taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It's in every economics textbook, that's what we teach our undergraduates, and I certainly try to teach them the truth. Christina Romer

Truth Government You People Try Economics Every Increase Our Spending Rate Idea Economy Accepted Stimulates Government Spending Textbook Very Unemployment Unemployment Rate Them Taxes Cut Teach Certainly Basic Widely

Raising the minimum wage, as President Obama proposed in his State of the Union address, tends to be more popular with the general public than with economists. Christina Romer

If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers are paid what they contribute to their employers' bottom lines. Christina Romer

Competition Will Every Other Ensure High Find Bottom Powerful Powerful Force Town Hour Perhaps Employers Force Robust Hire Lines Normal Times Unemployment Offering Contribute Store Anyone Workers Paid Hard Certainly Paying Helping

Many of my students assume that government protection is the only thing ensuring decent wages for most American workers. But basic economics shows that competition between employers for workers can be very effective at preventing businesses from misbehaving. Christina Romer

Government Competition Protection Economics Assume Ensuring Only Preventing Students Between Most Employers Wages Effective Very American Decent The Only Thing Workers Businesses American Workers Many Shows Thing Basic

Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013. Christina Romer

Cause First Half Fall Recession Analysis Our Deficit Deficit Reduction Has-Been Significant Would Percent Rate Over Budget Headlong Annual Around Cliff Reduction Been Domestic Office Going Estimated Which Product Gross Congressional Growing Recent

Quotes by Economists