Quotes & Sayings About Economics And Finance

People used to ask me for advice, and I'd say, 'Please, don't ask me!' Yes, I did economics at Oxford, but that's not the same as having a broad knowledge of personal finance. — Sophie Kinsella

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending — Nassim Nicholas Taleb

Arbitrage proof has since been widely used throughout finance and economics. — Merton Miller

Whenever land is bought and sold, three stakeholders automatically vie for a cut from the revenue that can be had from land: the community, the property owner, and the institutions that finance property ownership. With land-use rights, the revenue from land value increases is primarily recycled back to the community rather than captured by banks and property owners. — Martin Adams

The attempt to isolate economics from other disciplines-notably politics, history, philosophy, finance, constitutional theory and sociology-has fatally disabled its power to explain what is happening in the world. — Will Hutton

They both knew what they were thinking, though neither said it: Taryn Grant had what it took to be president. She had the business background, she understood economics and finance, she had the money wrapped up, she looked terrific, she had a mind that understood the necessary treacheries: a silken Machiavelli. — John Sandford

Europe is difficult to coordinate, and our main deficit may not even lie in this area of finance and economics, but in foreign and security policy. We have a leadership problem because we are still 27 different members who have still not decided on how to work with each other based on what we used to call a European constitution. — Peer Steinbruck

Savers have to be punished so debtors can be saved.

Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future.

And why is that important? Because the banking system needs ever more loans in order to survive. — Chris Martenson

There is ample evidence that confirmation bias permeates throughout investors' decisions. For example, once an investor likes a stock, he is likely to seek out information that validates that stock. In a 2010 study, researchers showed that investors used message boards to seek out information that validated rather than challenged, stocks they owned (Park et al. 2010). If we own a stock, we tend to look for anything that validates our decision to buy it, and to reinforce why we should keep holding it. — Peter Mallouk

We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error. — Adair Turner

The genuine object of debate raised by the [2008 financial] crisis ought to be how to overcome the short-termism to which we have been led by a consumerism intrinsically destructive of all genuine investment in the future, a short-termism which has systematically, and not accidentally, been translated into decomposition of investment into speculation. — Bernard Stiegler

In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance, or malversation (the corruption of officials) engendered during the mania. It seems clear from the historical record that swindles are a response to the greedy appetite for wealth stimulated by the boom. And as the monetary system gets stretched, institutions lose liquidity, and unsuccessful swindles are about to be revealed, the temptation to take the money and run becomes virtually irresistible. It is difficult to write on this subject without permitting the typewriter to drip with irony. An attempt will be made. — Charles P. Kindleberger

What you get out of an M.B.A. programme, no matter how much experience, is functional tools and understanding in disciplines: you'll understand economics, you'll understand marketing, finance, accounting. That, M.B.A. programmes do very well. — Henry Mintzberg

If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money.
How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings ... — Steve Keen

That economics and finance are often covered as technical subjects, sort of boring subjects, and either you already know a lot about it and you follow it, or you don't know much about it and you don't want to know. — David Plotz

Money must serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of Christ to remind all that the rich must help, respect and promote the poor. I exhort you to generous solidarity and a return of economics and finance to an ethical approach which favours human beings. — Pope Francis

Just as you do not need to be a director to detect a bad movie, you do not need economics, finance, or any other abstruse special knowledge to distinguish between good and bad strategy. — Anonymous

The special sphere of finance within economics is the study of allocation and deployment of economic resources, both spatially and across time, in an uncertain environment. To capture the influence and interaction of time and uncertainty effectively requires sophisticated mathematical and computational tools. — Robert C. Merton

I'm very lucky to be able to work in print and radio. I'm very lucky to be able to work at a time when finance and economics are really important. And the number of people who tell finance and economic stories in a kind of accessible storytelling way, there's much more demand than there is supply. — David Plotz

I feel like there's lot of people who know finance and economics better than I do. There are lots of people who are better storytellers than I am. But the space that I occupy of storytelling about finance and economics is - more people want it than can do it. — David Plotz

Finance is concerned with the relations between the values of securities and their risk, and with the behavior of those values. It aspires to be a practical, like physics or chemistry or electrical engineering. As John Maynard Keynes once remarked about economics, "If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid." Dentists rely on science, engineering, empirical knowledge, and heuristics, and there are no theorems in dentistry. Similarly, one would hope that nance would be concerned with laws rather than theorems, with behavior rather than assumptions. One doesn't seriously describe the behavior of a market with theorems. — Emanuel Derman

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. — Adam Smith

Theory of public goods. Theory that if I take you euro (as an elected state government) and give fifty cents back... you will be happier and I will be satisfied. — Radovan Kavicky

I founded Atari in my garage in Santa Clara while at Stanford. When I was in school, I took a lot of business classes. I was really fascinated by economics. You end up having to be a marketeer, finance maven and a little bit of a technologist in order to get a business going. — Nolan Bushnell

Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And not one ounce of attention to the descendants of that idea, which came out of academic economics and went into corporate finance and morphed into such obscenities as the capital asset pricing model, which we also paid no attention to. I think you'd have to believe in the tooth fairy to believe that you could easily outperform the market by seven-percentage points per annum just by investing in high volatility stocks. — Charlie Munger

The capital amassed in the eighteenth and nineteenth centuries through various forms of slave economy is still in circulation, said De Jong, still bearing interest, increasing many times over and continually burgeoning anew. — W.G. Sebald

There is no other proposition in economics that has more solid empirical evidence supporting it than the Efficient Market Hypothesis ... In the literature of finance, accounting, and the economics of uncertainty, the EMH is accepted as a fact of life. — Michael Jensen

The Pope appeals for disinterested solidarity and for a return to person-centred ethics in the world of finance and economics. — Pope Francis

At the federal level, this problem could be greatly alleviated by abolishing the Electoral College system. It's the winner-take-all mathematics from state to state that delivers so much power to a relative handful of voters. It's as if in politics, as in economics, we have a privileged 1 percent. And the money from the financial 1 percent underwrites the microtargeting to secure the votes of the political 1 percent. Without the Electoral College, by contrast, every vote would be worth exactly the same. That would be a step toward democracy. — Cathy O'Neil

Rather than be fearful and sell out at the worst time or get greedy when the market is way up, investors should control their emotions and not only avoid panic, but embrace the market volatility for what it is: an opportunity and a gift. Suffocate the instincts that want to make you a bad investor and rather embrace the chaos that normally causes them to rise to the surface. — Peter Mallouk

I don't think all the blame lies with Wall Street. I think a lot of the blame lies with the [George W.] Bush administration. They went back to trickle-down economics. They took their eye off the mortgage market, they took their eye off the finance markets, and we ended up in a big mess. — Hillary Clinton

You eat the wealthy, sir, and it will be your last meal. — J.S.B. Morse

Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures? — Frank Herbert

The United States, with the greatest ability and the weakest desire to finance a welfare state, winds up in the middle of the pack in terms of the absolute value of the resources devoted to it. By 2003 ... America's per capita Public Expenditures were greater than those in Japan, Spain, Australia, Canada, and the United Kingdom, while lower than those in Italy, the Netherlands, Germany, Belgium, France, Denmark and Sweden. — William Voegeli