100+ Best Economics Quotes: Exclusive Selection

Economics is the way in which trade, industry, or money is organized, or the study of this. Profoundly inspirational economics quotes will challenge the way you think, change the way you live and transform your whole life.

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Famous Economics Quotes

In human life, economics precedes politics or culture. — Park Geun-hye

Good environmentalism is good economics. — Barber Conable

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers. — Ben Bernanke

We believe in liberty, we believe in limited government, we believe in free enterprise, we believe in family values and the sanctity of human life, and we all believe Washington needs a good dose of Economics 101. — Kurt Bills

We wanted to try something new this year. We had the students create a business to see just how economics evolves in our society. — Angi Brunney

There can be economy only where there is efficiency. — Benjamin Disraeli

The simple model of a bridge is great, and you could not build a bridge without understanding it well. But if you’re actually building the bridge, you need to know the site. A lot of economics is like that: When prices go up, demand is gonna go down. You can’t forget that and run your economy. But it’s not the only thing you need to know. — Alvin E. Roth

Learn computer science. It’s extraordinarily helpful. I like recommending learning economics as well so they think in terms of business, they have rational frameworks for looking at the world, but yeah, computer science is an amazing way to get into, even if you want to be CEO, having a tech background is helpful. — Fabrice Grinda

Whether one believes or not, religion is as real a force in the life of the world as economics or politics, and it demands fair-minded attention. Even if you think the entire religious enterprise is at best misguided and at worst counterproductive, it remains vital, inspiring great good and, sometimes, great evil. — Jon Meacham

Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity. — Eugene Fama

Google was founded to get information to everybody. A by-product of that strategy is that we invented an advertising business which has provided great economics that allows us to build the servers, hire the employees, create value. — Eric Schmidt

Education: the inculcation of the incomprehensible into the indifferent by the incompetent. — John Maynard Keynes

The point is the industry itself shouldn’t be straddled with constraints that many of our direct competitors don’t have. We feel the number 30 percent isn’t really justified. It’s very, very arbitrary. We consider a number around 40 percent to be more appropriate given the economics in the industry. — Jim Cicconi

It’s well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country. — N. R. Narayana Murthy

Start with the idea that you can’t repeal the laws of economics. Even if they are inconvenient. — Lawrence Summers

Economics make homeopath and alternative healers look empirical and scientific. — Nassim Nicholas Taleb

There is a big divergence between views on a variety of policy issues from fiscal stimulus to financial regulation. It’s my hope and my ambition for the economics profession that as we advance our knowledge, that those discussions will narrow in their focus, and that it will help to have more prudent policy-making down the road. — Lars Peter Hansen

The problem isn’t that people don’t understand how good things are. It’s that they know, from personal experience, that things really aren’t that good. — Paul Krugman

It was never my intention to marry anybody. Economics are basically the only reason to get married, but I’m very glad I did it. — Helen Mirren

Economics is a subject that does not greatly respect one’s wishes. — Nikita Khrushchev

I got politics and economics moving and then others took over. — Lech Walesa

There is no sense in making statements that will not continue to be true after they are made. — Frank Knight

Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects. — John Kenneth Galbraith

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs. — Alan Greenspan

Bin Laden comes out of a business background – he studied public administration and economics at university, and he worked for his family company, which was obviously a rather successful enterprise. — Peter Bergen

By a combination of formal training and self study, the latter continuing systematically well into the 1940s, I was able to gain a broad base of knowledge in economics and political science, together with reasonable skills in advanced mathematics, symbolic logic, and mathematical statistics. — Herbert A. Simon

Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power. — David Ricardo

Seventy percent of the fish we eat is black market, fished in violation of international laws. Our ignorance makes us unwilling partners in crime. Rogue economics is turning the global market into our worst nightmare. — Loretta Napoleoni

We believe that the completion techniques that further improved our drilling economics in Johnson County can be applied to our acreage in the western counties where we have seen improved drilling results over the past three months. This provides the assurance to actively pursue development in these areas. — Mark Papa

You can’t just read the Koran to understand Muslim life. You have to look at history, at personalities, at economics, and so on. — Daniel Pipes

I was an economics major, which I enjoyed because I had a good business sense. — Herb Ritts

I think anytime that you go to the extreme of any mode of economics, be it capitalism or communism, you have these feedback mechanisms that make the system turn in on itself. — Serj Tankian

How could economics not be behavioral? If it isn’t behavioral, what the hell is it? — Charlie Munger

An economist’s guess is liable to be as good as anybody else’s. — Will Rogers

Conventional economics is a form of brain damage. — David Suzuki

Born Virginia Marshall but nicknamed Gig, my mother was a home economics teacher who had come all the way across the whole state of Virginia, from her home on the Eastern Shore to our little Appalachian coal town to marry my daddy, Ernest Smith, whose family had lived in these mountains for generations. — Lee Smith

The basic idea that if you increase government spending or you cut people’s taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It’s in every economics textbook, that’s what we teach our undergraduates, and I certainly try to teach them the truth. — Christina Romer

There will always be a business cycle, and white-collar workers will get hit in the next recession like they always do in recessions. — Robert Reich

Economics has never been a science – and it is even less now than a few years ago. — Paul Samuelson

We’re in uncharted times here, both for the economy and for the stock market. Some of the old rules just don’t apply to global economics and to the global mechanism of how things are working. — Peter Cardillo

When goods are digital, they can be replicated with perfect quality at nearly zero cost, and they can be delivered almost instantaneously. Welcome to the economics of abundance. — Erik Brynjolfsson

Economists agree about economics – and that’s a science – and they disagree about economic policy because that’s a value judgment… I’ve had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree. — Franco Modigliani

The reason we should do a carbon tax is because it’s the right thing to do. It’s economics 101, elementary stuff. — Elon Musk

My novels are about a generation of Americans who lived between 1940 and 2000, who resisted the postwar political and cultural forces by choosing a wandering life of impoverishment and wonder. Inevitably, race and economics are a big part of their stories. Childhood, childishness, and children are never far. — Fanny Howe

Bill Phillips was this nervous, chain-smoking student. He had signed up to be an engineer, he had gone away to fight in the Second World War, he had come back. He had switched to sociology because he wanted to understand how people could do these terrible things to each other. And he did a little bit of economics on the side. — Tim Harford

I wasn’t actually very naturally good at economics. My brain doesn’t work very well, in terms of mathematics. — Brit Marling

Cutting budget deficits can never be just an exercise in economics. — George Osborne

We have saturated Europe with oil. And as any economics handbook will tell you, excessive supply makes prices fall. But we do not have the means to decrease supply: all our (oil) exports are directed at Europe. — Semyon Vainshtok

Everywhere I go, I see incredible examples of communities that have a vision for transportation and how it will impact the quality of life, mobility, economics and opportunity. — Anthony Foxx

I am aiming my books at anybody with no economics background. — Tim Harford

Economics, politics, and personalities are often inseparable. — Charles Edison

The great thing about behavioural psychology and economics is that they help us to see that there are actually pretty good reasons why human beings swing from greed to fear, and why we’re not really calculating machines or utility-maximisers. — Niall Ferguson

There is no business on a dead planet — David R. Brower

Law professors were never like economics professors, a Harvard Law professor told me. If you disagreed with someone, you didn’t call him a fool. — Calvin Trillin

Capital is that part of wealth which is devoted to obtaining further wealth. — Alfred Marshall

Climate change: Don’t undermine the science just because you don’t like the economics — Brian Cox

Even though I didn’t get a business degree, I enjoyed learning about economics. — Herb Ritts

I’m not a communist, of course. But I do think that everything is down to economics. Capitalism doesn’t change. — Helen Mirren

Ulster (Northern Ireland) and the Balkans have already shown how difficult it is to split cities, and with Iraq’s centralized and failing infrastructure, and impoverished economy, violence and economics cannot be separated. — Anthony Cordesman

Many individuals are doing what they can. But real success can only come if there is a change in our societies and in our economics and in our politics. — David Attenborough

At the simplest level, economics can better show us the consequences of our actions. Less simple are cases in which we don’t have the knowledge to predict the full consequences. Global warming and climate change are examples. — Edmund Phelps

I started off thinking that maybe the social sciences ought to have the kinds of mathematics that the natural sciences had. That works a little bit in economics because they talk about costs, prices and quantities of goods. But it doesn’t work a darn for the other social sciences; you lose most of the content when you translate them to numbers. — Herbert Simon

Poorly paid labor is inefficient labor, the world over. — Henry George

Murphys law of economic policy: Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently. — Alan Blinder

I don’t think Obama understands basic economics. Not economics that work. He may understand some theory that someone in Princeton sat and dreamed up, but it’s not working. — Rick Perry

So, economics should emulate physics’ basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics. — Charlie Munger

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it’s remote, like mortgage-backed securities and their demands on automobiles. — Kenneth Arrow

Often the masses are plundered and do not know it. — Frederic Bastiat

Fines are preferable to imprisonment and other types of punishment because they are more efficient. With a fine, the punishment to offenders is also revenue to the State. — Gary Becker

It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions — Ben Bernanke

Big-government economics breeds crony capitalism. It’s corrupt, anything but neutral, and a barrier to broad participation in prosperity. — Paul Ryan

Fungible goods in economics can be extended and traded. So, half as much grain is half as much useful, but half a baby or half a computer is less useful than a whole baby or a whole computer, and we’ve been trying to make computers that work that way. — Neil Gershenfeld

Sometime, while I wasn’t paying attention, trickle-down economics got respectable. — Timothy Noah

Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life. — Tyler Cowen

I just knew that economics had never been my big motivation. — Leigh Steinberg

Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry. — Ha-Joon Chang

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability. — John Kenneth Galbraith

I’m not a big fan of journalism schools, except those that are organized around a liberal arts education. Have an understanding of history, economics and political science – and then learn to write. — Tom Brokaw

There’s no such thing as a free lunch. — Milton Friedman

Our global economy is out of control and performing contrary to basic principles of market economics. — David Korten

A lot of my colleagues have been people with broad interests in economics, not just narrowly focused interests. — Lars Peter Hansen

Rogue economics is a sort of umbrella under which we find the criminal economy, the illegal economy, but also those gray areas, gray areas where there is not a proper regulation, where there is not legislation for the economy. — Loretta Napoleoni

You know and I know and economists know that trickle-down economics doesn’t work. — Dannel Malloy

Whatever you tax you get less of. — Alan Greenspan

Economics pretends to be a science. Its practitioners fill blackboards with equations and clog computers with data. But it is really a faith, or more accurately a set of overlapping and squabbling faiths, each with its own doctrines. — Alex Berenson

Can there be in our age any peace that is not honorable, any war that is not dishonorable? — Charles Sumner

The march of invention has clothed mankind with powers of which a century ago the boldest imagination could not have dreamt. — Henry George

I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics. — Clive Granger

Don’t undermine the science just because you don’t like the economics. That’s a dangerous slope, because the problem of course is you’re not undermining just that, you’re undermining the basis of rational decision-making in society. — Brian Cox

To join or not to join films was the biggest choice I had to make. I’d done two years of biogenetic engineering, was an economics graduate and a gold medalist. I had also been a Bharatanatyam dancer from age five, always won the best actress award in school. Finally, I decided to do things for my soul, chose to act. — Amisha Patel

The economics favour one-man comedy shows: all you need is one person, a microphone and a PA system. But I’m pleased so many people are making a living out of comedy – it’s a wonderful business to be in. — Paul Merton

I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank’s name on business television is to hire a guy called a Chief Economist who will go and prognosticate. — Tim Harford

My observation is China is thinking more as a global player than regionally, in both politics and economics. — Ban Ki-moon

A number of bloggers in economics and the financial sector have risen to prominence through the sheer strength of their work. Note it was not their family connections nor ties to Ivy League schools or elite banks, but rather the strength of their research, analysis and writing. — Barry Ritholtz

The economic sense of possibility was so great when I was growing up that my parents had no question that I could do anything I wanted to do, even as a girl. I’ve always believed that the economics of a story intersects with the women’s story – that stuff often happens at the time it happens because of the economy. — Gail Collins

That which is unjust can really profit no one; that which is just can really harm no one. — Henry George

Commercial institutions, proud of their achievements, do not see that healthy living systems – clean air and water, healthy soil, stable climates – are integral to a functioning economy. As our living systems deteriorate, traditional forecasting and business economics become the equivalent of house rules on a sinking cruise ship. — Paul Hawken

They will come to learn in the end, at their own expense, that it is better to endure competition for rich customers than to be invested with monopoly over impoverished customers. — Frederic Bastiat

The problem with vaccines is not a new problem, … For the last decade, we have had reduction in the number of vaccine manufacturers. …The issue comes down primarily to economics … Profit margins are small. — Mitchell Cohen

The methods by which a trade union can alone act, are necessarily destructive; its organization is necessarily tyrannical. — Henry George

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