Quotes by Economists

Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply. Steve Hanke
People Money Example Important Think State Total More Supply For Example Most Makes Up Greece Contrary Than Bank Much
When Ronald Reagan was elected president for his first term in 1980, he received strong support from the so-called Sagebrush Rebels. The Rebels wanted lands owned by the federal government to be transferred to state governments. Steve Hanke
Government Strong First President State State Governments Strong Support Federal Federal Government He Support Term First Term Reagan His Governments Owned So-Called Wanted Transferred Ronald Reagan Elected Lands Rebels Received
In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'. Steve Hanke
World Money Bitcoin Digital April New Real Times Article Reported York New York New York Times The Real World Real World Gaining Champions
With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets. Steve Hanke
Great November Free Lost Markets Free Markets Passing Champions Milton
Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates. Steve Hanke
Rates Exchange Economists Most Terms Fixed Interchangeable Use Nearly
Since the end of the 1970s, free-market capitalism has been in, and socialism has been out. Steve Hanke
Capitalism Socialism Out Has-Been Since Been End
During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief. Steve Hanke
Inflation Long Trouble Panic Consistent Sight Relief Embraced Mutually Perceived Emergency Economic Fed Remains Prices Economy Real Era Provide Target Stability View Level Below
With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending. Steve Hanke
Increase Savings Spending Favor Rates Entrepreneurs Consumers Investment Consumption Reduce Artificially Interest Interest Rates Low
Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day. Steve Hanke
Day Inflation Will Rule Abandon Fed Until Policy Targeting
Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue. Steve Hanke
Will Politicians Other Market Determine More Prices Stable Commodities Oil Rice Lower Flow
Why is it so hard for the IMF and the U.S. government to understand that putting out the fire comes before fireproofing the building? Steve Hanke
Government Fire Building Before IMF Out Putting Understand Hard Why
During the last two centuries, there have been many deflations throughout the world. Almost all of them have been good ones precipitated by technological innovation, rising productivity, global capital flows, and sustained economic growth. If farm mechanization cuts the price of wheat, you get a rising living standard. This is good. Steve Hanke
Good You Innovation World Farm Living Good Ones Rising Economic Throughout Economic Growth Price Almost Almost All Global Been Get Wheat Sustained Them Centuries Capital Cuts Standard Productivity Many Growth Technological Last Two Flows
Good social media is authentic. What makes social media work is actually having something to say. Steven Levitt
Work Good Social Media Say Something Having Makes Authentic Social Media Actually
The most obvious things are often right there, but you don't think about them because you've narrowed your vision. Steven Levitt
You Vision Think About Most Obvious Because Often Them Your Right Things
People don't like it, but inevitably we need to think about both the costs and the benefits of health care. We cannot avoid the financial consequences. Steven Levitt
Health People Benefits Financial Care Think Consequences We Cannot About Costs Both Like Health Care Inevitably Cannot Avoid Need
Wall Street is populated by a bunch of people whose primary goal is to make money, and the rules are pretty much caveat emptor. Steven Levitt
People Money Rules Pretty Primary Primary Goal Make Goal Bunch Wall Wall Street Much Whose Street
Most of the people in the world are poor, so if we knew the economics of being poor, we would know much of the economics that really matters. Most of the world's poor people earn their living from agriculture, so if we knew the economics of agriculture, we would know much of the economics of being poor. Theodore Schultz
People World Agriculture Economics Matters Living Earn Would Knew Know Most Being Poor Poor People Much Really
What many economists fail to understand is that poor people are no less concerned about improving their lot and that of their children than rich people are. Theodore Schultz
People Rich About Fail Economists Concerned Understand Lot Than Improving Children Poor Rich People Poor People Less Many
There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of course they were not. Thomas J. Sargent
Class Danger Those Would Entire Ratio Likelihood Course Opponents Were Tests Models Which Rejections
Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh. Thomas J. Sargent
Day Spring Minnesota Rational Attended Call Conference Expectations Pittsburgh After Lucas Received University
I think you've got to watch out for anybody in high school who says he wants to become an economist. Thomas J. Sargent
You School Become Think Says Out High High School He Economist Got Anybody Wants Who Watch
Keynes was a very good economist. He was brilliant. He had wonderful insights. His work has inspired me many times. Thomas J. Sargent
Work Good Me Wonderful Brilliant Insights Inspired Had He Economist His Very Times Many
What I really don't like is oversimplification. Thomas J. Sargent
Like Really
I'm happy to say I am a Harrison-Kreps-Keynesian. Thomas J. Sargent
Happy Say Am
The power of population is indefinitely greater than the power in the earth to produce subsistence for man. Thomas Malthus
Man Power Earth Indefinitely Greater Than Subsistence Produce Population
No limits whatever are placed to the productions of the earth; they may increase forever. Thomas Malthus
Whatever Increase Earth Limits Forever May Placed Productions
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