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Quotes by Economists
Tariffs that save jobs in the steel industry mean higher steel prices, which in turn means fewer sales of American steel products around the world and losses of far more jobs than are saved.
Thomas Sowell
World
Saved
Jobs
More
Steel
Higher
Prices
Industry
Around
Losses
Sales
Than
American
Fewer
Which
Mean
Turn
Far
Means
Products
Save
If the battle for civilization comes down to the wimps versus the barbarians, the barbarians are going to win.
Thomas Sowell
Battle
Win
Down
Wimps
Civilization
Versus
Going
Barbarians
A moral monopoly is the antithesis of a marketplace of ideas.
Thomas Sowell
Monopoly
Marketplace
Moral
Ideas
Antithesis
Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more.
Thomas Sowell
Government
Say
Spent
Would
More
Only
Recover
Had
Economy
Does
Always
Still
Itself
Bankruptcy
Worked
Even
One of the most pervasive political visions of our time is the vision of liberals as compassionate and conservatives as less caring.
Thomas Sowell
Time
Vision
Political
Conservatives
Caring
Our
Liberals
Our Time
Visions
Most
Pervasive
Less
Compassionate
If I turn out to be particularly clear, you've probably misunderstood what I've said.
Alan Greenspan
You
Out
Clear
Particularly
Said
Misunderstood
Turn
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
Arthur Laffer
Government
Balance
Benefits
Welfare
Increase
Other
Programs
Resulting
Output
Higher
Budget
Economy
Also
Employment
Because
Reduced
Reducing
Unemployment
Unemployment Benefits
Expenditures
Tax
Tax Cuts
Social
Cuts
Create
Lower
Means
Production
Incentive
Help
Social Welfare
Incomes
A constant stream of 'free' money is a perfect way to keep an inefficient or simply bad government in power. As aid flows in, there is nothing more for the government to do - it doesn't need to raise taxes, and as long as it pays the army, it doesn't have to take account of its disgruntled citizens.
Dambisa Moyo
Government
Army
Stream
Money
Free
Long
Power
Nothing
Aid
Way
Bad
Citizens
Constant
Bad Government
More
Perfect
Take
Simply
Inefficient
Account
Disgruntled
Taxes
Pays
Keep
Raise
Need
Flows
Dishonesty is all about the small acts we can take and then think, 'No, this not real cheating.' So if you think that the main mechanism is rationalization, then what you come up with, and that's what we find, is that we're basically trying to balance feeling good about ourselves.
Dan Ariely
Good
You
Balance
Cheating
Feeling
Think
Ourselves
Find
About
Small
Take
Main
Feeling Good
Come
Real
Up
Trying
Dishonesty
Then
Mechanism
Acts
Basically
Each of us has a natural right, from God, to defend his person, his liberty, and his property.
Frederic Bastiat
God
Property
Natural
Liberty
His
Person
Natural Right
Us
Each
Right
Defend
Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.
Friedrich August von Hayek
Freedom
Will
Beneficial
Only
Known
Beforehand
Effects
Granted
He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.
Friedrich August von Hayek
Knowledge
Learning
Achieve
Plants
Will
Appropriate
Rather
Results
Shape
Shapes
He
Environment
Does
Cultivate
His
Providing
Handiwork
Craftsman
Which
Manner
Use
Therefore
Gardener
Growth
Dictators cause the world's worst problems: all the collapsed states, and all the devastated economies. All the vapid cases of corruption, grand theft, and naked plunder of the treasury are caused by dictators, leaving in their wake trails of wanton destruction, horrendous carnage and human debris.
George Ayittey
Corruption
World
Destruction
Cause
Problems
Naked
Carnage
States
Worst
Collapsed
Plunder
Horrendous
Vapid
Cases
Devastated
Economies
Leaving
Caused
Wake
Debris
Trails
Dictators
Human
Wanton
Grand
Theft
Treasury
That which is unjust can really profit no one; that which is just can really harm no one.
Henry George
Profit
Unjust
No-One
Just
Which
Really
Harm
Successful investing is anticipating the anticipations of others.
John Maynard Keynes
Others
Investing
Anticipating
Successful
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
John Maynard Keynes
Education
Indifferent
Incompetent
Incomprehensible
The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods.
John Maynard Keynes
Success
Beautiful
War
Capitalism
Virtuous
Ourselves
Deliver
Individualistic
Goods
Intelligent
Decadent
Hands
Just
After
Which
International
Found
The state can be and has often been in the course of history the main source of mischief and disaster.
Ludwig von Mises
History
State
Mischief
Main
Main Source
Disaster
Course
Been
Source
Often
One can say that three pre-eminent qualities are decisive for the politician: passion, a feeling of responsibility, and a sense of proportion.
Max Weber
Passion
Responsibility
Three
Feeling
Politician
Sense
Say
Proportion
Qualities
Decisive
Either one lives 'for' politics or one lives 'off' politics.
Max Weber
Politics
Off
Either
Lives
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Milton Friedman
Experience
Validity
Relevant
Only
Hypothesis
Test
Prediction
Comparison
Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.
Milton Friedman
Party
Assume
One Party
Only
Economic
Tendency
Pie
Most
Another
Fixed
Expense
Gain
Derive
Every side of a coin has another side.
Myron Scholes
Every
Side
Another
Coin
When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.
Richard Thaler
First
Employees
Savings
Unless
Enrolled
Out
Retirement
Plan
Should
Choose
Eligible
Standing up to bullies is the hallmark of a civilized society.
Robert Reich
Society
Civilized
Civilized Society
Hallmark
Bullies
Up
Standing
Standing Up
Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.
Robert Reich
College
Laws
Student
Allow
Student Loans
Smoothly
Burdened
Graduates
Bankruptcy
Companies
Loans
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