Quotes & Sayings About Economy And Economics

Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'. — Thomas Sowell

I do know enough about economics and so do you to understand that the 'stimulus program' of Barack Obama and his ravenous parasitic hordes, supposedly designed to 'repair' America's broken economy, reveals him to be unimaginably stupid, gibberingly insane, or simply the biggest, most barefaced criminal thug ever to occupy the White House. And that's saying a lot. — L. Neil Smith

[Donald] Trump and all the Republicans believe in the theory of trickle down economics which is a theory discredited even by the author himself David Stockton. The theory suggests that if we take care of the people at the top, if we cut taxes for the wealthy, if we make sure they are doing really well, then the investments that they make in the economy and the jobs that will create, will make everything grow and it will have a trickle down effect on the rest of us. — Debbie Wasserman Schultz

Romney economics would spell disaster for America's middle class. In this economy there are shipbuilders and ship wreckers. — Martin O'Malley

Trickle-down economics So long as power remains privately concentrated, everybody, everybody, has to be committed to one overriding goal, and that's to make sure that the rich folk are happy - because, unless they are, nobody else is going to get anything. So, if you're a homeless person sleeping in the streets of Manhattan, let's say, your first concern must be that the guys in the mansions are happy - because, if they're happy, then they'll invest, and the economy will work, and things will function, and then maybe something will trickle down to you somewhere along the line. But if they're not happy, everything's going to grind to a halt, and you're not even going to get anything trickling down. — Noam Chomsky

Look, America is no more a democracy than Russia is a Communist state. The governments of the U.S. and Russia are practically the same. There's only a difference of degree. We both have the same basic form of government: economic totalitarianism. In other words, the settlement to all questions, the solutions to all issues are determined not by what will make the people most healthy and happy in the bodies and their minds but by economics. Dollars or rubles. Economy uber alles. Let nothing interfere with economic growth, even though that growth is castrating truth, poisoning beauty, turning a continent into a shit-heap and riving an entire civilization insane. Don't spill the Coca-Cola, boys, and keep those monthly payments coming. — Tom Robbins

So imagine that fans of our products or services no longer simply consume and use them. Now we are creating a new opportunity for them to both participate directly in the development of the products but also benefit from a share of the profits too. — Miguel Reynolds Brandao

It rests on the attempt since the 1970s to translate a pathological degeneration of the principle of laissez-faire into economic reality by the systematic retreat of states from any regulation or control of the activities of profit-making enterprise. This attempt to hand over human society to the (allegedly) self-controlling and wealth- or even welfare-maximising market, populated (allegedly) by actors in rational pursuit of their interests, had no precedent in any earlier phase of capitalist development in any developed economy, not even the USA. It was a reductio ad absurdum of what its ideologists read into Adam Smith, as the correspondingly extremist 100% state-planned command economy of the USSR was of what the Bolsheviks read into Marx. — Eric Hobsbawm

What we are dealing with here is another version of the Lacanian 'il n'y a pas de rapport ... ': if, for Lacan, there is no sexual relationship, then, for Marxism proper, there is no relationship between economy and politics, no 'meta-language' enabling us to grasp the two levels from the same neutral standpoint, although - or, rather, because - these two levels are inextricably intertwined. — Slavoj Zizek

A lot of Democrats have said that raising the minimum wage is both good economics and good politics. The nonpartisan CBO issued a report today saying that raising the minimum wage to $10.10 an hour would cost the economy about 500,000 jobs ... Why should we trust Democrats on anything when they couldn't have foreseen that this would be the case? — S. E. Cupp

Without exception all political parties promise their supporters a higher real income. There is no difference in this respect between nationalists and internationalists and between the supporters of a market economy and the advocates of either socialism or interventionism. If a party asks its supporters to make sacrifices for its cause, it always explains these sacrifices as the necessary temporary means for the attainment of the ultimate goal, the improvement of the material well-being of its members. Each party considers it as an insidious plot against its prestige and its survival if somebody ventures to question the capacity of its projects to make the group members more prosperous. Each party regards with a deadly hatred the economists embarking upon such a critique. — Ludwig Von Mises

[Walmart]s largest innovation consists in getting rid of the central Fordist principle of paying the workers enough so that they can afford to buy what they manufacture. Instead, WalMart has pioneered the inverse principle: paying the workers so little that they cannot afford to shop anywhere other than at WalMart. It might even be said, not too hyperbolically, that WalMart has singlehandedly preserved the American economy from total collapse, in that their lowered prices are the only thing that has allowed millions of the "working poor" to retain the status of consumers at all, rather than falling into the "black hole" of total immiseration. WalMart is part and parcel of how the "new economy" has largely been founded upon transferring wealth from the less wealthy to the already-extremely-rich. — Steven Shaviro

In a basic agricultural society, it's easy enough to swap five chickens for a new dress or to pay a schoolteacher with a goat and three sacks of rice. Barter works less well in a more advanced economy. The logistical challenges of using chickens to buy books on Amazon would be formidable. — Charles Wheelan

Our society gives its economy priority over health, love, truth, beauty, sex and salvation; over life itself. Whatsoever is given precedence over life will take precedence over life, and will end in eliminating life. Since economics, at its most abstract level, is the religion of our people, no noneconomic happening, not even one as potentially spectacular as the Second Coming, can radically alter the souls of our people. — Tom Robbins

Middle-out economics rejects the old misconception that an economy is a perfectly efficient, mechanistic system and embraces the much more accurate idea of an economy as a complex ecosystem made up of real people who are dependent on one another. — Nick Hanauer

It's not trickle down economics. The problem that the president has is that he's rudderless on the economy. I mean, he doesn't quite know what to do. It's a wake-up on Monday and try to figure it out. It takes time to turn a supertanker, so you need to know where you need to go. — John Kasich

People have a hard time accepting free-market economics for the same reason they have a hard time accepting evolution: it is counterintuitive. Life looks intelligently designed, so our natural inclination is to infer that there must be an intelligent designer
a God. Similarly, the economy looks designed, so our natural inclination is to infer that we need a designer
a government. In fact, emergence and complexity theory explains how the principles of self-organization and emergence cause complex systems to arise from simple systems without a top-down designer. — Michael Shermer

Much of what Tea Party candidates claimed about the world and the global economy during the 2010 elections would have earned their adherents a well-deserved F in any freshman economics (or earth science) class. — Eric Alterman

Although Adam Smith is today often regarded as a "conservative" figure, he in fact attacked some of the dominant ideas and interests of his own times. Moreover, the idea of a spontaneously self-equilibrating system - the market economy - first developed by the Physiocrats and later made part of the tradition of classical economics by Adam Smith, represented a radically new departure, not only in analysis of social causation but also in seeing a reduced role for political, intellectual, or other elites as guides or controllers of the masses. — Thomas Sowell

I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system. — Nouriel Roubini

I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy. — Greg Mankiw

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

Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature. — Thomas Sowell

Fred Harrison explains in The Power in the Land how land values over time become so expensive that too little wealth is left to pay for goods and services. Real estate speculation allows property owners to demand tomorrow's wealth output today, because they have the power to withhold land from use in expectation of future gains. Artificial constrictions in the supply of land make the price increase at a rate the economy can't sustain. Land eventually becomes unaffordable and recession follows leading to a bust before the next boom commences. — Martin Adams

Answers are not enough, students should be encouraged to ask questions and explore alternatives to the norm. Entrepreneurship and invention are the backbone of the new economy, yet I doubt they get more than a nod in economics courses. — Jim Hunt

Do you understand economics? I mean big-time, prewar, global capitalism. Do you get how it worked? I don't, and anyone who says they do is full of shit. — Max Brooks

The 20th Century approach to economics, resource depletion and over-consumption means we boom and bust until we bust more than we boom; that is precisely what is happening. In a low growth economy, the true meaning of resource efficiency in business and in everything we do is essential — Phil Harding

There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics. — Walter Wriston

But things have been so admirably arranged by the Divine inventor of social order that in this, as in everything else, political economy and morality, far from clashing, agree; and the wisdom of Aristus is not only more dignified, but still more profitable, than the folly of Mondor. And when I say profitable, I do not mean only profitable to Aristus, or even to society in general, but more profitable to the workmen themselves - to the trade of the time. — Frederic Bastiat

The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.") — Seth Klarman

As the war progresses, and as population increases to an even more intolerable level stretching resources to impossible lengths, the strong will begin fighting for their very survival. That's what we're seeing right now. Society will become more and more stratified into the people who aren't buying the bullshit in society and those who blindly follow where they are led. Satanists, freethinkers, are a burgeoning minority cause. We have an illness that needs to be recognized just like alcoholism, handicaps, addictive behaviors and AIDS. We suffer from a disease called independence - a pathological aversion to regimentation and institutionalism - which prevents us from getting 'regular' jobs and living a 'normal' life. — Anton Szandor LaVey

Now, in the modern money economy everything in the nature of a social-economic occurrence consists in human actions and behaviour. — Oskar Morgenstern

If you don't want to cry about the state of the economy, why not laugh instead? This book is an ideal introduction to the subject for anybody who thinks they ought to understand what's happening around them but is put off by the usual dense text and economics jargon. — Diane Coyle

The great hatred of capitalism in the hearts of the oppressed, ancient and modern, I think, stems not merely from the ensuing vast inequality in wealth, and the often unfair and arbitrary nature of who profits and who suffers, but from the silent acknowledgement that under a free market economy the many victims of the greed of the few are still better off than those under the utopian socialism of the well-intended. It is a hard thing for the poor to acknowledge benefits from their rich moral inferiors who never so intended it. (p.272) — Victor Davis Hanson

From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the "microfoundations of macroeconomics" debate, which ultimately led to a model in which the economy is viewed as a single utility-maximizing individual blessed with perfect knowledge of the future.
Fortunately, behavioral economics provides the beginnings of an alternative vision of how individuals operate in a market environment, while multi-agent modelling and network theory give us foundations for understanding group dynamics in a complex society. These approaches explicitly emphasize what neoclassical economics has evaded: that aggregation of heterogeneous individuals results in emergent properties of the group, which cannot be reduced to the behavior of any "representative individual." These approaches should replace neoclassical microeconomics completely. — Steve Keen

The global economy is a doomsday machine that must be stopped and reprogrammed. — Kalle Lasn

... what I'm saying is that if we and all the other species on earth are the only life forms in the universe and if there are no gods and let's face it apart from a few tired scrolls written 300 years after the death of Jesus and his disciples there is no actual proof of a God or gods then we, the humans, who are meant to be at the height of the evolutionary tree, are in fact at the bottom because no other species on this planet is enslaved to the economy. Every other species is born free and lives free. We humans are born into economic slavery and life crippling debt. — Arun D. Ellis

If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to look at cognition itself, something we have never done before in economics. — W. Brian Arthur

I would go one step further and say that the willingness to challenge professional economists - and other experts - should be the foundation of democracy. When you think about it, if all we have to do is to listen to the experts, what is the point of having a democracy at all? Unless we want our societies to be run by a body of self-elected experts, we all have to learn economics and challenge professional economists — Ha-Joon Chang

Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy. — Thomas Sowell

Roughly speaking, I think it's accurate to say that a corporate elite of managers and owners governs the economy and the political system as well, at least in very large measure. — Noam Chomsky

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

An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if it occurs at all, should come after students have at the very least completed course work in basic calculus, algebra and differential equations (the last being one about which most economists are woefully ignorant). This simultaneously explains why neoclassical economists obsess too much about proofs and why non-neoclassical economists, like those in the Circuit School, experience such difficulties in translating excellent verbal ideas about credit creation into coherent dynamic models of a monetary production economy. — Steve Keen

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

In a parody of the supply-side economics of creative destruction, advocates of AB 32 envisaged "alternative" energy sources creating new jobs and industries and replacing existing fuels. Thomas Friedman's Hot, Flat, and Crowded3 is the bible of this delusional sect, which has captured much of Silicon Valley. This economic model sees new wealth emerge from dismantling the existing energy economy and replacing it with a medieval system of windmills and druidical sun temples. But the destruction of the workable and efficient energy system we have does nothing to enable a new one. — George Gilder

Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things from the standpoint of economics. No one, who is not able to form an independent opinion about the admittedly difficult and highly technical problem of calculation in the socialist economy, should take sides in the question of socialism versus capitalism. No one should speak about interventionism who has not examined the economic consequences of interventionism. An end should be put to the common practice of discussing these problems from the standpoint of the prevailing errors, fallacies, and prejudices. It might be more entertaining to avoid the real issues and merely to use popular catchwords and emotional slogans. But politics is a serious matter. Those who do not want to think its problems through to the end should keep away from it. — Ludwig Von Mises

I heard Mansour say to Richard, 'You transmitted to us the disease of your capitalist economy. What did you give us except for a handful of capitalist companies that drew off our blood - and still do?' Richard said to him, 'All this shows that you cannot manage to live without us. You used to complain about colonialism and when we left you created the legend of neo-colonialism. It seems that our presence, in an open or undercover form, is as indispensable to you as air and water.'

They were not angry: they said such things to each other as they laughed, a stone's throw from the Equator, with a bottomless historical chasm separating the two of them. — Tayeb Salih

It appears - because it has been the case for twenty years - that every problem is solvable ... that no matter how badly the world economy slumps there is a pain-free way out of it. Once the realization dawns that there is not, and that the pain will be severe, the question is posed that has not really been posed for twenty years: who should feel it? — Paul Mason

The idea economy is a conversation. Try to channel or control that conversation and you will stop the chatter. — A.E. Samaan

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

There is a central difference between the old and new economies: the old industrial economy was driven by economies of scale; the new information economy is driven by the economics of networks ... — Carl Shapiro

The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future. — Joan Robinson

Facing a deteriorating economy and a weakening hold over the populace, the Iraqi state under Saddam Hussein opted to revitalize tribal leaders and conservative practices as a means of stabilizing state power; those conservative practices were not an inherent feature of a predominantly Muslim country. — Nadje Al-Ali

The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst. — Paul Krugman

I call crony capitalism, where you take money from successful small businesses, spend it in Washington on favored industries, on favored individuals, picking winners and losers in the economy, that's not pro-growth economics. That's not entrepreneurial economics. That's not helping small businesses. That's cronyism, that's corporate welfare. — Paul Ryan

These poor people have learned to endure day to day economic agony. It's routine in daily life for them. They are so accustomed to facing economic pain that poverty doesn't hurt them anymore. Extreme negativity in their life drove learning endurance and their accomplishment to endure extreme conditions is 'positivity' they mastered — Sadashivan Nair

The barriers that renewables and efficiency face come less from our living in a capitalist market economy and more from not taking market economics seriously. — Amory Lovins

And one day we must ask the question, "Why are there forty million poor people in America?" And when you begin to ask that question, you are raising questions about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. — Martin Luther King Jr.

What causes recessions? Many economists talk about the need for a consumer economy, but we can't have a consumer economy if people can't afford to consume, and the only way they can afford to consume over the long run is if they create new wealth to either consume at that time or to defer as investments for later consumption. Simply put, the best way to have a functioning economy is to focus on having a wealth-producing economy. But when wealth can't be created in spite of the need for such, the production of wealth has been artificially limited, and this artificial limitation is the root cause of business recessions. — Martin Adams

Genua had once controlled the river
mouth and taxed its traffic in a way that couldn't be called piracy
because it was done by the city government, and therefore sound economics
and perfectly all right — Terry Pratchett

To those who say climate change is not caused by human activity or that addressing it will harm the economy, let's encourage them to go to college, too, and to study physics and to study economics, but for the rest of us, let's get to work. — Martin O'Malley

No one spends someone elses money as carefully as he spends his own. — Mark Skousen

And each of these perspectives comes to the same conclusion, which is that our global economy is out of control and performing contrary to basic principles of market economics. — David Korten

Nowadays ... deals are transactional rather than personal. Instead of placing your faith in a person, you get lawyers to write safeguards into the contract. This is an historic shift from a trust economy to a risk economy. But trust is not a dispensable luxury. It is the very basis of our social life. Many scholars believe that capitalism had religious roots because people could trust other people who, feeling that they were answerable to God, could be relied on to be honest in business. A world without trust is a lonely and dangerous place. — Jonathan Sacks

Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme in giving them the power to force all those engaged in production to comply with their orders. It forces all those engaged in production to the utmost exertion in the service of the consumers. It makes competition work. He who best serves the consumers profits most and accumulates
riches. — Ludwig Von Mises

Seen from that future time, when every commodity the human mind could imagine would flow from the industrial horn of plenty in dizzy abundance, this would seem a scanty, shoddy, cramped moment indeed, choked with shadows, redeemed only by what it caused to be created.
Seen from plenty, now would be hard to imagine. It would seem not quite real, an absurd time when, for no apparent reason, human beings went without things easily within the power of humanity to supply and lives did not flower as it was obvious they could. — Francis Spufford

When people believe that the local government and economy serve their needs. There is little desire to protest. — Auliq Ice

The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the intellectual failure of neoclassical economics. Mathematics, science and engineering developed tools long ago to model outside of equilibrium processes. This dynamic approach to thinking about the economy should become second nature to economists. — Steve Keen

I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else. — David Wessel

Thought Leadership
"The new economics for industry, government, education" Book by W. Edwards Deming
"In God we trust. All others must bring data."
William Edwards Deming,
Statistician, Professor and Author
#smitanairjain #leadership #womenintech #thoughtleaders #tedxspeaker #technology #tech #success #strategy #startuplife #startupbusiness #startup #mentor #leaders #itmanagement #itleaders #innovation #informationtechnology #influencers #Influencer #hightech #fintechinfluencer #fintech #entrepreneurship #entrepreneurs #economy #economics #development #businessintelligence #business — W. Edwards Deming

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

The basic issue of an American society which is fair, which is providing opportunity for all, is nowadays being replaced by the correct perception that we're living in a rigged economy - where it doesn't matter how hard you worked, the result will be all the income goes to the people at the very top. It's leading to a lot of frustration and anger, and people want some fundamental changes to the way we do economics and growth. — Bernie Sanders

Another argument: The rich are job creators. They are helping the poor. If their taxes are cut, they can create more jobs. Ah, facts again. The rich actually tend to keep their money by buying prime real estate, yachts, art, and the like - things that will appreciate in value without giving back much to the economy as a whole. Moreover, the rich don't just give jobs out of the goodness of their hearts. Look at economics from the perspective of work: Working people are profit-creators. The rich only create jobs when they can get employees who can create profit for them. The poor create profit for the rich. Conservatives — George Lakoff

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. — Murray N. Rothbard

I do agree that the science is not settled on this. The idea that we would put American's economy at jeopardy based on scientific theory that's not settled yet, to me is just nonsense. Just because you have a group of scientists that stood up and said, this is the fact. Galileo got outvoted for a spell. But the fact is, to put America's economic future in jeopardy, asking us to cut back in areas that would have monstrous economic impact on this country, is not good economics, and I will suggest to you is not necessarily good science. — Rick Perry

Most economists, like doctors, are reluctant to make predictions, and those who make them are seldom accurate. The economy, like the human body, is a highly complex system whose workings are not thoroughly understood. — Alice Rivlin

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

In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away. — Paul Krugman

Capitalism is too important and complex a subject to be left to economists. Achieving a critical comprehension of it requires perspectives beyond those characteristic of modern economics. That is why this is a history not of economic ideas, but of ideas beyond the capitalist economy. — Jerry Z. Muller

Whether we understand work spiritually depends in large part on whether we understand the economy spiritually. If we view the economy materialistically, thinking that economics is just about numbers on spreadsheets and arcane policy issues, we'll tend to view work materialistically. On the other hand, if we have the vision to see that the economy is really a moral system, a vast web of human relationships where people exchange their work with one another, we'll tend to see the spiritual dignity and meaning of our work. That's why dramatic economic changes, like the ones we're all going through right now, make people especially likely to despiritualize their work. At such times, the older economic systems and institutions that had embodied the spirituality of work for earlier generations become obsolete. We lose the sense that our work is part of a greater social whole that has dignity and purpose. As a result, our own work loses its sense of dignity and purpose. — Greg Forster

[Conventional wisdom] very heavily tends to reflect the preferences and the interests of the elite. — Paul Krugman

In boom times companies have high profits. They increase production to satisfy demand for goods. This leads to excess supply. Companies cut prices to compete for customers. leading to lower profits, lay-offs, and economic depression. Eventually lower prices lead to an increase in demand and profits go back up. The economy is a yo-yo. — Niall Kishtainy

If you want your fridge-freezer and your car and a nice house and asphalt on the roads and a health service, then thank the weapons business. Thank the war economy that drives us to this. — Jasper Fforde

Economics taught in most of the elite universities are practically useless in my context. My country [Afghanistan] is dominated by drug economy and a mafia; textbook economics does not work in my context. — Ashraf Ghani

It was the American middle class. No one's house cost more than two or three year's salary, and I doubt the spread in annual wages (except for the osteopath) exceeded more than five thousand dollars. And other than the doctor (who made house calls), the store managers, the minister, the salesman, and the banker, everyone belonged to a union. That meant they worked a forty-hour week, had the entire weekend off (plus two to four weeks' paid vacation in the summer), comprehensive medical benefits, and job security. In return for all that, the country became the most productive in the world and in our little neighborhood it meant your furnace was always working, your kids could be dropped off at the neighbors without notice, you could run next door anytime to borrow a half-dozen eggs, and the doors to all the homes were never locked
because who would need to steal anything if they already had all that they needed? — Michael Moore

We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income. And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped. — Kalle Lasn

A long decade ago economic growth was the reigning fashion of political economy. It was simultaneously the hottest subject of economic theory and research, a slogan eagerly claimed by politicians of all stripes, and a serious objective of the policies of governments. The climate of opinion has changed dramatically. Disillusioned critics indict both economic science and economic policy for blind obeisance to aggregate material "progress," and for neglect of its costly side effects. Growth, it is charged, distorts national priorities, worsens the distribution of income, and irreparably damages the environment. Paul Erlich speaks for a multitude when he says, "We must acquire a life style which has as its goal maximum freedom and happiness for the individual, not a maximum Gross National Product." [in Nordhaus, William D. and James Tobin., "Is growth obsolete?" Economic Research: Retrospect and Prospect Vol 5: Economic Growth. Nber, 1972. 1-80] — James Tobin

There are some things in the world we can't change- gravity, entropy, the speed of light, and our biological nature that requires clean air, clean water, clean soil, clean energy and biodiversity for our health and well-being. Protecting the biosphere should be our highest priority or else we sicken and die. Other things, like capitalism, free enterprise, the economy, currency, the market, are not forces of nature, we invented them. They are not immutable and we can change them. It makes no sense to elevate economics above the biosphere. — David Suzuki