Best Economist Quotes & Sayings

In all recorded history there has not been one economist who has had to worry about where the next meal would come from. — Peter Drucker

I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news. — Tim Harford

'Tis a good rule in every journey to provide some piece of liberal study to rescue the hours which bad weather, bad company, and taverns steal from the best economist. — Ralph Waldo Emerson

[I]t is funny because economists are not real scientists, and because logicians think more clearly, but mathematicians are best. — Mark Haddon

It is impossible indeed not to look with considerable uneasiness at the type of the "modern economist" as he developed after Keynes' revolutionary book, whom Keynes himself regarded with alarm at the end of his days. It is the type of man who is obsessed by one thing, i.e. "effective demand," which he thinks must be kept up at whatever cost,
while he forgets the working of the mechanism of prices, wages, interest and exchange rates. — Wilhelm Ropke

Economist Marvin Harris described women as a "literate and docile" labor pool, and "therefore desirable candidates for the information- and people-processing jobs thrown up by modern service industries." The qualities that best serve employers in such a labor pool's workers are: low self-esteem, a tolerance for dull repetitive tasks, lack of ambition, high conformity, more respect for men (who manage them) than women (who work beside them), and little sense of control over their lives. — Naomi Wolf

In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions. — Janet Yellen

I am a woman, I am a housewife, I am a government official, I've been twice a government secretary, I've been leader of a parliamentary group, I am an economist. — Josefina Vazquez Mota

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

Left alone in a dark room with a pile of money, the Irish decided what they really wanted to do with it was buy Ireland. From each other. An Irish economist named Morgan Kelly, whose estimates of Irish bank losses have been the most prescient, has made a back-of-the-envelope calculation that puts the property-related losses of all Irish banks at roughly 106 billion euros. (Think $10.6 trillion.) At the rate money flows into the Irish treasury, Irish bank losses alone would absorb every penny of Irish taxes for the next four years. — Michael Lewis

Government spending? I don't know what it's all about. I don't know any more about this thing than an economist does, and, God knows, he doesn't know much. — Will Rogers

There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations. — John Kenneth Galbraith

I am looking forward to learning at the knee of Paul Ryan. He doesn't strike me as a politician. He strikes me as an economist. — Todd Rokita

For the modern economist this is very difficult to understand. He is used to measuring the "standard of living" by the amount of annual consumption, assuming all the time that a man who consumes more is "better off" than a man who consumes less. A Buddhist economist would consider this approach excessively irrational: since consumption is merely a means to human well-being, the aim should be to obtain the maximum of well-being with the minimum of consumption. Thus, if the purpose of clothing is a certain amount of temperature comfort and an attractive appearance, the task is to attain this purpose with the smallest possible effort, that is, with the smallest annual destruction of cloth and with the help of designs that involve the smallest possible input of toil. The less toil there is, the more time and strength is left for artistic creativity. — E.F. Schumacher

How should the best parts of psychology and economics interrelate in an enlightened economist's mind? ... I think that these behavioral economics ... or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology. — Charlie Munger

In respect to Drower, and still more with Biruni and his medieval contemporaries, I am reminded of the praise given to Sir William Jones, the proponent of the idea that European and Indian languages had one common source. 'Blessed are the peacemakers,' commented political economist James Anderson, 'who by painful researches, tend to remove those destructive veils which have so long concealed mankind from each other. — Gerard Russell

You can't be a good economist unless you're also a good psychologist. Or a good engineer without being the right kind of metaphysician. — Aldous Huxley

What I'm asking for is a new economic order. I don't know how to construct that; I'm not an economist. — Michael Moore

When I meet people on airplanes and they find out I'm an economist, they usually ask about stock tips. — Emily Oster

In the past few years, genetics have confirmed that the hunter-gatherers were not overwhelmed by the new wave of sedentary farmers, and that the first agricultural revolution spread well in advance of its first users, by contact and trade in ideas. Nice to see science catching up with economics and military history. Any economist could tell you technology spreads beyond its first adopters, even if they stay at home. And any military historian could tell you that, in a contest between people who hunt and kill aurochs and farmers armed with hoes, the smart money is on the hunters. — Markham Shaw Pyle

They called me the sexiest economist in America, and that was years ago, when I had hair and body mass and my teeth were shiny. — Mark Zandi

If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist. — Paul Krugman

I need something to fall back on if fame doesn't work. I'll have to become an economist or something. — Nolan Gould

One of the best predictors of policy around is Thomas Ferguson's investment theory of politics, as he calls it - very outstanding political economist - which essentially - I mean, to say it in a sentence, he describes elections as occasions in which groups of investors coalesce and invest to control the state. — Noam Chomsky

I'm not a politician, I'm not an economist. I'm just a simple Brian surgeon and a scientist who's trying to do my best every day. — Alfredo Quinones-Hinojosa

In Economics as almost everywhere else, with all our cleverness, we have become decidedly less wise, while knowing more and more about less and less. We have lost the sense of proportion--so indispensable for every economist--while analysing the curiosities of hypothetical economic situations and forgetting what has a bearing on real economic life. In spinning out the fine threads of the New Economics, we forget the most elementary principles of economics, and while stressing what might
at best in highly exceptional circumstances we overlook what are almost perennial truths. While proudly parading our elaborate equations we unlearnt that simple common sense which consists in reckoning with human reactions and institutions as they really are. — Wilhelm Ropke

An American economist of two generations ago, H. J. Davenport, who was the best friend Thorstein Veblen ever had (Veblen actually lived for a time in Davenport's coal cellar) once said: "There is no reason why theoretical economics should be a monopoly of the reactionaries." All my life I have tried to take this warning to heart, and I dare call it to your favorable attention. — Paul Samuelson

The effort of the economist is to "see," to picture the interplay of economic elements. The more clearly cut these elements appear in his vision, the better; the more elements he can grasp and hold in his mind at once, the better. The economic world is a misty region. The first explorers used unaided vision. Mathematics is the lantern by which what before was dimly visible now looms up in firm, bold outlines. The old phantasmagoria disappear. We see better. We also see further. — Irving Fisher

Or how does it happen that trade, which after all is nothing more than the exchange of products of various individuals and countries, rules the whole world through the relation of supply and demand - a relation which, as an English economist says, hovers over the earth like the fate of the ancients, and with invisible hand allots fortune and misfortune to men, sets up empires and overthrows empires, causes nations to rise and to disappear - while with the abolition of the basis of private property, with the communistic regulation of production (and implicit in this, the destruction of the alien relation between men and what they themselves produce), the power of the relation of supply and demand is dissolved into nothing, and men get exchange, production, the mode of their mutual relation, under their own control again? — Karl Marx

My brother Carl became a physicist; I became an economist. — George Akerlof

I was trained to become an economist and I finished my work and I was teaching and did my PhD so I thought I did that. I prepared myself for that kind of road. But then I realized that I had not learned enough to solve the problem of poverty. So I distanced myself from the things that I learned and tried to learn anew about people. — Muhammad Yunus

A lot of lies and misinformation has been put about by eco nuts on the back of a report by an idiot economist [Sir Nicholas Stern]. Environmental head bangers are talking nonsense when they claim that aviation is the fastest-growing source of carbon emissions. Coal-fired and oil-fired power stations are the biggest contributor of carbon but I have yet to hear any fearless eco warriors advocating nuclear power as they drive around in their SUVs to their next protest meeting. — Michael O'Leary

Invitation is not only a step in bringing people together, it is also a fundamental way of being in a community. It manifests the willingness to live in a collaborative way. This means that a future can be created without having to force or sell it or barter for it. When we believe that barter or subtle coercion is necessary, we are operating out of a context of scarcity and self-interest, the core currencies of the economist. — Peter Block

I am not an economist. I am an honest man! — Mark Twain

If you hear an expert talking about the Internet and saying it [does] this, or it will do that, you should treat it with the same skepticism that you might treat the comments of an economist about the economy or a weatherman about the weather. — Danny Hillis

I was teaching in one of the universities while the country was suffering from a severe famine. People were dying of hunger, and I felt very helpless. As an economist, I had no tool in my tool box to fix that kind of situation. — Muhammad Yunus

Climate policy has almost nothing to do anymore with environmental protection, says the German economist and IPCC official Ottmar Edenhofer. The next world climate summit in Cancun is actually an economy summit during which the distribution of the worlds resources will be negotiated. — Ottmar Edenhofer

The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare. — Ben Bernanke

I'm not going to put my lot in with economists. — Hillary Clinton

Economist Frederick Thayer has studied the history of our balanced-budget crusades and has come up with some depressing statistics. We have had six major depressions in our history (1819, 1837, 1857, 1873, 1893 and 1929); all six of them followed sustained periods of reducing the national debt. We have had almost chronic deficits since the 1930s, and there has been no depression since then - the longest crash-free period in our history. — Molly Ivins

A Swedish physicist can not discuss his work with fifty people unless he goes abroad. A Swedish economist can get opinions and instructions in his native language from thousands upon thousands of his fellow citizens. — George Stigler

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism. — Paul Ormerod

The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist — Nassim Nicholas Taleb

The economists will have to revise their theories of value. — Albert Einstein

For economist the real world is often a special case. — Edgar Fiedler

As a preacher, I should be prompted to tell men, not so much how to get their wheat bread cheaper, as of the bread of life compared with which that is bran. Let a man only taste these loaves, and he becomes a skillful economist at once. — Henry David Thoreau

In my wide travels across the world and my meetings with various heads of states, be that Africa or South Asia, Singapore or in high level meetings in the U.S., U.K. or Japan, one common mention is about Dr. Singh's extraordinary reputation as a Wise Man, an outstanding Economist and a fine Gentleman. — Sunil Mittal

Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory. — William Stanley Jevons