Management Insights

Management Quotes: Economics Quotes
 

• "When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. - Warren Buffett
• The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. - Henry Hazlitt
• Economics is half psychology and half Grade Three arithmetic, and the U.S. does not now have either half right. - Conrad Black
• I do not understand why some would call me an economic oracle.
  Although I foretasted key economic events, the truth is that any economic forecasting model can become useless with the change of just one variable.
  And if we learned anything from experience, the only constant in markets is change. Economics is simply a science of probability not a science of certainty. - Med Jones
• The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it.
  The first lesson of politics is to disregard the first lesson of economics. - Thomas Sowell
• In economics, the majority is always wrong. - John Kenneth Galbraiththor, writer
• But beginners to the World Economics Forum have to understand there is no single Davos experience, and there is no single Davos community either. There are numerous tribes who interact only at a minimal level.-  Evan Davis
• First rule of Economics 101: our desires are insatiable. Second rule: we can stomach only three Big Macs at a time. - Douglas Horton
• Every nation on the Earth that embraces market economics and the free enterprise system is pulling millions of its people out of poverty. The free enterprise system creates prosperity, not denies it. - Marco Rubio
• I don't believe in trickle-down economics. I don't think that people who have the most are inclined to share it, generally. - Dave Matthews
• Economics, politics, and personalities are often inseparable. - Charles Edison
• Rather than dividing the world between good and evil, the Left divided the world in terms of economics. Economic classes, not moral values, explained human behavior. Therefore, to cite a common example, poverty, not one's moral value system, or lack of it, caused crime. - Dennis Prager
• The poor work to make money for the rich, the middle class work to make money for themselves, the rich make money from other people's work. - Med Yones
• The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. - Friedrich August von Hayek
• Put simply, behavioural economics argues that human beings' decision-taking is guided by the evolutionary baggage which we bring with us to the present day. Evolution has made us rational to a point, but not perfectly so. It has given us emotions, for example, which programme us to override our rational brain and act more instinctively.- Evan Davis
• Economists treat economics as if it is a pure science divorced from the facts of life. The result of this false accountancy is a willful confusion under cover of which industry wreaks its havoc scot-free and ignores the environmental cost. - Vivienne Westwood
• 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
• I found this out over the years, that racism is a thinly veiled disguise over economics and money. It really is. - Quincy Jones
• There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave. - Daniel Kahneman
• Years ago, I noticed one thing about economics, and that is that economists didn't get anything right. - Nassim Nicholas Taleb
• I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour. - Ben Bernanke
• I think that the economics of book publishing favor hits with long book runs. You make all your money on the last bunch of books, not the first.
  Seth Godin
• Religions taught me that the love of money is the root of all evil. After studying economics, I discovered that  scarcity is the root of all evil. Socioeconomic policies should focus on fighting scarcity, not growth. To prevent future domestic and international conflicts, economists should design an economic system that allows  open access and growth for all. Violent conflicts are almost always the result of unfair structural restrictions erected in favor of one group at the expense of the rest. The current economic systems are not designed to prevent civil or international conflicts, they are more designed to accumulate and gain power at the expense of competitors. If you want world peace, you need to restructure or un-structure  the global monetary and economic systems from a centralized hierarchal order to a more peer-to-peer network design. - Med Yones.

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