Economists on the Run......................

 

One definition of an economist is somebody who sees something happen in practice and wonders if it will work in theory.

Ronald Reagan

If all economists were laid end to end, they would not reach a conclusion.

George Bernard Shaw (1856 - 1950)

An economist is a man who states the obvious in terms of the incomprehensible.

Alfred A. Knopf

Teach a parrot the terms "supply and demand" and you've got an economist.

Thomas Carlyle

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

Laurence J. Peter (1919 - 1988)

 

 

More Quotes .........................This time, by the Men themselves.......

 

Milton Friedman

A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.

Inflation is one form of taxation that can be imposed without legislation.
 
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
 
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
 
The government solution to a problem is usually as bad as the problem.
 

 

Maynard Keynes

A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
 
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be...

In the long run, we're all dead.

The difficulty lies, not in the new ideas, but in escaping the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
 

 

Adam Smith

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
 

 

Joseph Schumpeter

Economic progress, in capitalist society, means turmoil.
 

 

John Kenneth Galbraith

All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.  

Anyone who says he won't resign four times, will.  

By all but the pathologically romantic, it is now recognized that this is not the age of the small man.  

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.  

Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.  

Nothing is so admirable in politics as a short memory.  

One of the greatest pieces of economic wisdom is to know what you do not know.  

One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.  

Under capitalism, man exploits man. Under communism, it's just the opposite.
 

 

Paul Samuelson

An intriguing paradox of the 1990s is that it isn't called a decade of greed.

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

Wall Street indices predicted nine out of the last five recessions!  

What we know about the global financial crisis is that we don't know very much.
 

 

W.H. Beveridge

The trouble in modern democracy is that men do not approach to leadership until they have lost the desire to lead anyone.