Quotes by Economists

A society - any society - is defined as a set of mutual benefits and duties embodied most visibly in public institutions: public schools, public libraries, public transportation, public hospitals, public parks, public museums, public recreation, public universities, and so on. Robert Reich
Benefits Public Schools Society Defined Visibly Libraries Embodied Mutual Parks Hospitals Recreation Institutions Most Schools Any Duties Public Transportation Set Universities Museums
Public institutions are supported by all taxpayers and are available to all. Robert Reich
Supported Institutions Public Available Taxpayers
Walmart is so huge that a wage boost at Walmart would ripple through the entire economy, putting more money in the pockets of low-wage workers. This would help boost the entire economy - including Walmart's own sales. Robert Reich
Ripple Money Own Boost Would Entire Pockets More Through Putting Economy Wage Sales Huge Walmart Workers Help Including
Limits should be placed on how big big banks can become. Robert Reich
Big Become How Limits Banks Placed Should
Not only do unemployment benefits help families who are hurting; they also put money into their pockets that they'll then spend - and their spending will keep other Americans in jobs. Robert Reich
Money Benefits Will Other Spend Spending Jobs Hurting Pockets Only Put Also Unemployment Families Unemployment Benefits American Then Help Who Keep
I'm not one of those who thinks the only way to fix what's wrong with American education is to throw more money at it. We also need to do it much better. Robert Reich
Education Money Better Way Those More Only Throw Wrong Also Fix American Much Who Thinks Need
Universities have to tame their budgets, especially for student amenities that have nothing to do with education. Robert Reich
Education Nothing Student Budgets Tame Universities
In 1968, the sanitation workers of Memphis tried to form a union. The city resisted. The Rev. Martin Luther King, Jr. came to support them. That was where he lost his life. Robert Reich
Life King Lost Tried City Memphis Martin Martin Luther Martin Luther King Martin Luther King Jr He Support Came His Where Form Them Workers Sanitation Union Resisted Luther
Teachers, social workers, public lawyers who bring companies to justice, government accountants who try to make sure money is spent as it should be - all need at least four years of college. Robert Reich
Government Justice Money Try College Spent Lawyers Make Sure Least Years Accountants Public Social Workers Should Teachers Who Companies Social Workers Four Bring Need
Only if everyone buys insurance can insurers afford to cover people with preexisting conditions or pay the costs of catastrophic diseases. Robert Reich
People Pay Everyone Only Costs Catastrophic Insurance Cover Conditions Afford Diseases Preexisting Buys
The Tea Party grew out of indignation over the Wall Street bailout - an indignation shared by the vast majority of Americans. But the Tea Party ended up directing its ire at government rather than at big business and Wall Street. Robert Reich
Government Business Big Party Tea Out Directing Rather Indignation Vast Vast Majority Shared Over Bailout Majority Big Business Up Than Wall Wall Street American Ended Grew Tea Party Street
Can we please agree that in the real world, corporations exist for one purpose and one purpose only - to make as much money as possible, which means cutting costs as much as possible? Robert Reich
World Money Please Corporations Possible Only Costs Purpose Make Real Exist As Much Money The Real World Real World Which Cutting Much Means Agree
It is impossible to fight bullies merely by saying they're going too far. Robert Reich
Saying Fight Impossible Too Merely Bullies Going Far
The wealth-income ratio in the United States has always been lower than in Europe. The main reason in the early years was that land values bulked less in the wide open spaces of North America. There was, of course, much more land, but it was very cheap. Robert Solow
Values Early Years States More Ratio Main Open Cheap Main Reason Open Spaces Course Always Been Years Very Than North North America America Spaces Land Much Lower Less Reason Europe United United States Wide Early
The key thing about wealth in a capitalist economy is that it reproduces itself and usually earns a positive net return. Robert Solow
Positive Key Wealth Key Thing About Net Economy Return Itself Capitalist Thing
The pollution problem is always seen as someone who was doing something bad that has to be stopped. To me, pollution is doing something bad and good. People don't pollute because they like polluting. They do it because it's a cheaper way of producing something else. Ronald Coase
Good Me People Problem Good People Seen Else Way Bad Someone Something Something Else Cheaper Like Because Always Doing Stopped Polluting Pollution Producing Who
You get more irrationality within the family and in consumer behavior than you get, say, in the behavior of firms in their purchases. Ronald Coase
Family You Behavior Say Purchases More Consumer Within Than Get Irrationality
I've been wrong so often, I don't find it extraordinary at all. Ronald Coase
Extraordinary Find Wrong Been Often
You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized. Ronald Coase
Work Great You Law Economics Recognized Has-Been Would John Great Part Part Supported Importance Without Been Forget Whether Which Should Doubtful Foundation
The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price mechanism. The most obvious cost of 'organizing' production through the price mechanism is that of discovering what the relevant prices are. Ronald Coase
Relevant Would Cost Seem Through Price Prices Main Main Reason Firm Most Obvious Discovering Establish Production Organizing Reason Using Mechanism Why Profitable
Despite all the efforts of art dealers, the number of Rembrandts existing at a given time is limited; yet such paintings are commonly disposed of by auction. Ronald Coase
Art Time Despite Given Auction Dealers Limited Existing Efforts Commonly Paintings Number
I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs. Ronald Coase
Positive Analysis Way Costs Tend Stepping Stepping Stone Economy Stone Transaction Regard Theorem
What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production. Ronald Coase
System Structure Economic Economic System Termed Institutional Importance Done May Working Production Show
There is no doubt that the recognition by economists of the importance of the role of the firm in the functioning of the economy will prompt them to investigate its activities more closely. Ronald Coase
Will Doubt Recognition No Doubt Prompt More Investigate Firm Economists Economy Importance Role Closely Them Activities
It is obvious, moreover, that the formation of price in capitalist society must differ from the formation of price in social conditions based upon the simple production of commodities. Rudolf Hilferding
Simple Society Must Moreover Price Obvious Conditions Commodities Differ Formation Social Social Conditions Capitalist Capitalist Society Production Based
Value is consequently the necessary theoretical starting point whence we can elucidate the peculiar phenomenon of prices resulting from capitalist competition. Rudolf Hilferding
Competition Value Resulting Point Prices Whence Capitalist Theoretical Necessary Starting Phenomenon Starting Point Consequently Peculiar
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