Quotes & Sayings About Importance Of Economics

My hunch is that as the importance of a decision grows, the tendency to rely on quantitative analyses done by others tends to shrink. When the championship or the future of the company is on the line, managers tend to rely on their gut instincts. — Richard H. Thaler

So spoke the man whose importance originated in the golden harvest he had reaped with the resistless hand of force, from the the legal, but unfortunate possessors, in a far distant region, where the conviction of riches proves certain destruction to the hapless natives, and poverty is considered as the greatest crime their European plunderers can possibly be accused of. — Helen Craik

Intellectually, what is stimulating to a young man is a problem of obvious practical importance. A young man learning economics, for example, ought to hear lectures from individualists and socialists, protectionists and free-traders, inflationists and believers in the gold standard. He ought to be encouraged to read the best books of the various schools, as recommended by those who believe in them. This would teach him to weigh arguments and evidence, to know that no pinion is certainly right, and to judge men by their quality rather than by their consonance with preconceptions. — Bertrand Russell

When men see how relevant the ten commandments are for economics, they should gain new respect for the importance of the laws of God for all of life, but especially for the life of dominion man, the man redeemed by grace through faith in the one true Dominion Man, Jesus Christ. — Gary North

In my experience, economists rarely believe passionately in, or care passionately for, the free market. They are generally more concerned to reveal the market's imperfections, to further their own professional importance. — Terence Kealey

The doctrine of the importance of hoards for stabilizing the objective exchange-value of money has gradually lost its adherents with the passing of time. Nowadays its supporters are few. — Ludwig Von Mises

That economics has a considerable conceptual apparatus with an appropriate terminology can not be a serious ground for complaint. Economic phenomena, ideas, instruments of analysis exist. They require names. Education in economics is, in considerable measure, an introduction to this terminology and to the ideas that it denotes. Anyone who has difficulties with the ideas should complete his education or, following an exceedingly well-beaten path, leave the subject alone. It is sometimes said that the economist has a special obligation to make himself understood because his subject is of such great and popular importance. By this rule the nuclear physicist would have to speak in monosyllables. — John Kenneth Galbraith

The democratic ideal springs from the ideas of liberty, equality, majority rule through free elections, protection of the rights of minorities, and freedom to subscribe to multiple loyalties in matters of religion, economics, and politics rather than to a total loyalty to the state. The spirit of democracy is the idea of importance and worth in the individual, and faith in the kind of world where the individual can achieve as much of his potential as possible. — Saul Alinsky

Ever since the end of Medieval feudalism, and the writings of John Locke, we have understood the importance of being able to buy and sell one's own property, including books and watches, both for reasons of economics and liberty. — Marvin Ammori

You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized. — Ronald Coase

In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process. — Kenneth E. Boulding

Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure. — Gordon Brown

When economics is regarded as 'the most important key to every lock of every door,' it is only natural that the worth of man should come to be decided largely, even wholly, by his effectiveness as an economic tool.8 This is at variance with the vision of a world where economic, political and social institutions work to serve man, instead of the other way round; where culture and development coalesce to create an environment in which human potential can be realized to the full. The differing views ultimately reflect differences in how the valuation of the various components of the social and national entity are made; how such basic concepts as poverty, progress, culture, freedom, democracy and human rights are defined and, of crucial importance, who has the power to determine such values and definitions. The — Suu Kyi, Aung San

A specter is haunting the modern world, the specter of crypto anarchy. Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a
totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the true name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive rerouting of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation. — Peter Ludlow