Famous Economic Quotes & Sayings

I have yet to meet the famous Rational Economic Man theorists describe. Real people have always done inexplicable things from time to time, and they show no sign of stopping. — Charles S. Sanford Jr.

Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment ... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree. — Franco Modigliani

In 1995 Bank of America issued a famous report on sprawl in California. The bank pronounced: 'Urban job centers have decentralized to the suburbs. New housing tracts have moved even deeper into agriculturally and environmentally sensitive areas. Private auto use continues to rise. This acceleration of sprawl has surfaced enormous social, environmental, and economic costs, which until now have been hidden, ignored, or quietly borne by society. — Dolores Hayden

He stared to sea. I gave up all ideas of practicing medicine. In spite of what I have just said about the wave and the water, in those years in France I am afraid I lived a selfish life. That is, I offered myself every pleasure. I traveled a great deal. I lost some money dabbling in the theatre, but I made much more dabbling on the Bourse. I gained a great many amusing friends, some of whom are now quite famous. But I was never very happy. I suppose I was fortunate. It took me only five years to discover what some rich people never discover - that we all have a certain capacity for happiness and unhappiness. And that the economic hazards of life do not seriously affect it. — John Fowles

In terms of economic growth, PIMCO originated the famous phrase the 'new normal.' — Bill Gross