2219 quotes by economists for you to enjoy

As a country that does not belong to any power bloc, India cannot afford to put itself in the position of needing multilateral support - a trap into which even developed countries, like Portugal and Spain, have fallen. Raghuram Rajan

Power Country India Developed Developed Countries Put Support Countries Like Does Fallen Itself Afford Any Cannot Which Spain Trap Multilateral Even Belong Portugal Needing Position

Customers often value a good more when its price goes up. One reason may be its signaling value. An expensive handcrafted mechanical watch may tell time no more accurately than a cheap quartz model; but, because few people can afford one, buying it signals that the owner is rich. Raghuram Rajan

Time Good People Value Few Rich Signals Tell More Price Cheap Because Up Than Model Afford Accurately Goes Few People Owner May Often Expensive Customers Reason Mechanical Watch Buying

How do we get more politicians to move from 'fixing' the system to reforming the system? The obvious answer is to either improve the quality of public services or reduce the public's dependence on them. Both approaches are necessary. Raghuram Rajan

I don't think policy makers surprise unnecessarily. You don't pick surprise as a part of your policy. Markets value a certain amount of predictability. But there are certain areas where surprise is a tool. Raghuram Rajan

You Value Think Tool Markets Unnecessarily Area Pick Part Policy Makers Surprise Where Predictability Certain Your Amount

The U.S. should worry about the effects of its polices on the rest of the world. We would like to live in a world where countries take into account the effect of their policies on other countries and do what is right, broadly, rather than what is just right given the circumstances of that country. Raghuram Rajan

World Rest Country Live Other Other Countries Worry Circumstances Would About Rather Given Take Countries Like Policies Effect Effects Account Than Just Where Should Right

The Reserve Bank cannot just exist; its ability to say 'no' has to be protected. Raghuram Rajan

Say Ability Protected Exist Bank Just Cannot Reserve

Everyone may have some advise for the RBI. Some may advise, 'Cut your lending rates and raise the deposit rate.' How will a bank function? We take a medium term view. The bank has an 80-year-old history. I don't want to destroy it for a few decisions. Raghuram Rajan

History Will Few Medium Everyone Destroy Some Rate Rates Take Term Advise How May Bank Want Deposit Decisions Lending Cut View Your Function Raise

Any econometrician who wants to see practical application of his science will be highly concerned with applications to economic planning at the national level. Ragnar Frisch

Science Will National See Economic Highly Practical Concerned His Any Wants Planning Who Level Application Applications

When I was born, my father owned a business called a 'reading circle'; folders containing an assortment of magazines were lent to customers for one week, then recollected and lent out again. The older the folder, the lower was the fee. This was a flourishing branch of industry. Reinhard Selten

I am addicted to research, let's say. Reinhard Selten

Research Addicted Say Am

If somebody is young and brilliant and imaginative, he will be listened to, even if he is a little unorthodox. Reinhard Selten

Brilliant Will Somebody Young Unorthodox He Listened Little Even Imaginative

Water is free of charge. Why then do people drink Evian? Richard Levin

People Water Free Charge Drink Then Why

There's a reason why start-ups, especially disruptive start-ups - like Google or Amazon or Uber - are full of young people. That's because young people are not as wedded to the old fashioned ways of doing things. Richard Thaler

People Old Google Young Ways Like Because Doing Amazon Young People Full Reason Old-Fashioned Why Things Disruptive

I am all for trying to teach household finance in schools, starting as early as possible. And when it comes to high school, I think learning about compound interest is at least as important as trigonometry or memorizing the names of all 50 state capitals. Richard Thaler

When it comes to my health, I would rather my doctor base her decisions on science rather than what she, or some lawyer, thinks will stand up in court. Richard Thaler

Health Science Doctor Will Lawyer Would Some Rather She Court Up Than Decisions Stand Stand Up Base Her Thinks

It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist. Richard Thaler

Legal Book Economics Everything Distinguished About Write Scholar True Economist Does Am Nor Behavioral Mean

The government employs scientists of many varieties in technical capacities, from estimating the environmental toxicity of a chemical to the structural soundness of a bridge. But when it comes to forming policies, these scientists and, especially, behavioral scientists are rarely at the table with the lawyers and the economists. Richard Thaler

Environmental Government Table Rarely Structural Lawyers Economists Employs Policies Chemical Scientists Behavioral Forming Capacities Many Bridge Technical

Quotes by Economists