2219 quotes by economists for you to enjoy

If the Chinese economy can be opened so that currencies are convertible, Chinese tourists can take money and go see the world. Chinese businessmen can go and buy property in the U.S. and France and every place. All of a sudden, it's just going to be a blossoming global economy. I think it's going to be good for everybody. Robert F. Engle

Buy Good Property World Money Every Think Everybody France See Take Tourists Opened Economy Global Global Economy Go Blossoming Going Just Place Chinese Convertible Businessmen Sudden

Austria, Germany and the U.S. South did not disappear as a result of their currencies' ruin. Although many people suffered, most people found a way to survive, life went on, and economic activity eventually resumed after the adoption of a 'reformed' or foreign medium of exchange. Robert Higgs

Life People Result Medium Ruin Way Adoption Economic Economic Activity Resumed Exchange Disappear Most Although Foreign South Austria Germany Survive Reformed Did After To Survive Many Activity Found Suffered Eventually

If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending. Robert Higgs

Government You People Money Will Value Some People Employees Pay Spend Spending Some Economic Economic Growth Count Counted Firm Days Private Government Spending Contributing Gets Want Produce Creating Measurements Why Flop Growth Ton Early Early Days

Some doomsayers think the collapse will be triggered by runaway government spending, excessive taxation, oppressive regulation, food shortages, fuel shortages or natural disasters such as deadly pandemics or lethal changes in the world's climate. Robert Higgs

Government Food Natural World Will Natural Disasters Think Changes Spending Collapse Runaway Some Excessive Disasters Deadly Climate Oppressive Government Spending Shortages Fuel Taxation Regulation Lethal

People who stay unemployed for a long time start to look like damaged goods, and they don't get such good offers. Also, they're not learning anything. Most learning is on-the-job learning. Robert J. Shiller

Time Good Learning People Long Long Time Stay Goods Like Look Most Also Unemployed Offers Get Anything Who Start Damaged

I want to know diverse facts about such things as galaxies or molecules or proteins or insect species. I have an impulse to want to know the little details, which are usually of no significance to non-specialists. I own a dissection microscope, and if there is an insect in the house, I sometimes catch it and look at it under the microscope. Robert J. Shiller

Sometimes Own Significance Insect Details About Diverse Facts Catch Know Look House Proteins Microscope Impulse Want Which Little Galaxies Molecules Such Things Species Things

Fifty years ago or a hundred years ago, generally, most people would buy a house the way you buy a car. When you buy a car, do you think, 'I better buy this year rather than next year because car prices might go up?' Robert J. Shiller

Buy You People Better Car Year Think Hundred Hundred Years Way Would Rather Prices Generally Most House Because Go Years Years Ago Up Than Might Fifty Next Next Year

Somehow, talking to young students brings you back to reality - it should, anyway. Robert J. Shiller

You Reality Young Back Somehow Students Talking Anyway Should Brings

I think we do need to try to not just rely on the central bank to, in its wisdom, adjust interest rates, but allow for people to avoid being exposed to inflation risk. Robert J. Shiller

Those on the downside of rising economic inequality generally do not want government policies that look like handouts. They typically do not want the government to make the tax system more progressive, to impose punishing taxes on the rich, in order to give the money to them. Redistribution feels demeaning. It feels like being labeled a failure. Robert J. Shiller

Government Failure Money Rich Progressive Those Punishing System Give Rising More Economic Generally Feels Demeaning Like Look Make Policies Redistribution Inequality Impose Government Policies Labeled Being Tax Order Want Tax System Them Taxes Downside

One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it. Robert J. Shiller

Thrive Important Way Variety Economy Particularly Because Oil Should Asset Assets Portfolio Wide Wide Variety Need

Fear causes individuals to restrain their spending and firms to withhold investments; as a result, the economy weakens, confirming their fear and leading them to restrain spending further. The downturn deepens, and a vicious circle of despair takes hold. Robert J. Shiller

My very first publication was an estimator - this was a statistical procedure - a kind of invention. My father got a patent and started a business; it wasn't successful, but maybe I have some of him in me. Robert J. Shiller

Me Business Father Invention First Statistical Kind Some Him Got Very Patent Maybe Procedure Successful Publication Started

A lot of people aren't saving enough. And incidentally, people are living longer now, and health care is improving. You might end up retired for 30 years - people are not really preparing for that. Robert J. Shiller

Health You People Care Living Enough Saving Retired Longer Health Care Years Lot End Up Improving Might Really Preparing Now

Diversify, because that helps reduce risk. And you can diversify outside the United States. Some people would never invest in Europe - I think that's a mistake. Robert J. Shiller

You Mistake People Some People Think States Would Some Risk Diversify Invest Outside Never Because Reduce Europe Helps United United States

The desperately poor may accept handouts, because they feel they have to. For those who consider themselves at least middle class, however, anything that smacks of a handout is not desired. Instead, they want their economic power back. Robert J. Shiller

Class Power Desperately Consider Back Those Smack Economic Economic Power Instead Feel Accept Because Least However Handout May Middle Want Middle Class Anything Poor Themselves Who Desired

All taxes, except a 'lump-sum tax,' introduce distortions in the economy. But no government can impose a lump-sum tax - the same amount for everyone regardless of their income or expenditures - because it would fall heaviest on those with less income, and it would grind the poor, who might be unable to pay it at all. Robert J. Shiller

Government Fall Pay Everyone Those Unable Introduce Would Except Economy Because Impose Same Expenditures Heaviest Tax Regardless Grind Poor Might Taxes Less Who Income Amount

I often tend to think that things are not what they seem. Robert J. Shiller

Think Seem Tend Often Things

In my first few years of elementary school at the Edison School in Detroit, I did poorly. I remember worrying that I might fail the second grade and be held back. Robert J. Shiller

Remember School First Few Back Worrying Detroit Fail Edison Years Did Grade Might Held Poorly Elementary Elementary School Second

Housing traditionally is not viewed as a great investment. It takes maintenance; it depreciates. It goes out of style. All of those are problems. And there's technical progress in housing. So, new ones are better. So, why was it considered an investment? That was a fad. Robert J. Shiller

Great Progress Better Problems Style Considered Those Out Fad Investment Takes Maintenance New Housing New Ones Goes Viewed Technical Why

If we wait until income inequality is much more severe, we will have a whole class of new superrich who will probably feel entitled to their wealth and will have the means to defend their interest. That's already gone far enough. We shouldn't let it become more extreme. Robert J. Shiller

Class Wealth Wait Will Entitled Become Gone Enough Extreme Severe More Feel New Until Inequality Interest Far Much Means Who Whole Income Income Inequality Defend

The problem is that once we focus on economic policy, much that is not science comes into play. Politics becomes involved, and political posturing is amply rewarded by public attention. Robert J. Shiller

Politics Science Problem Political Focus Once Economic Economic Policy Attention Involved Policy Becomes Rewarded Public Much Play

Quotes by Economists