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Economists Quotes

John Kenneth Galbraith quote: "Economists are generally negligent of their heroes."
Economists are generally negligent of their heroes. John Kenneth Galbraith
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority... Malcolm Gladwell
Joseph Stiglitz quote: "Economists often like startling theorems, results which seem..."
Economists often like startling theorems, results which seem to run counter to conventional wisdom. Joseph Stiglitz
Economists are coming to acknowledge that measures of national wealth and poverty in terms strictly of average income tell you little that is significant of the health or viability of a society. Rowan D. Williams
Economists report that a college education adds many thousands of dollars to a man's lifetime income - which he then spends sending his son to college. Bill Vaughan
Economists treat economics as if it is a pure science divorced from the facts of life. The result of this false accountancy is a willful confusion under cover of which industry wreaks its havoc scot-free and ignores the environmental cost. Vivienne Westwood
James Buchan quote: "Economists, like royal children, are not punished for their..."
Economists, like royal children, are not punished for their errors. James Buchan
Economics is really about two stories. One is the story of the old economist and younger economist walking down the street, and the younger economist says, ‘Look, there’s a hundred-dollar bill,’ and the older one says, ‘Nonsense, if it was there somebody would have picked it up already.’ So sometimes you do find hundred-dollar bills lying on the street, but not often—generally people respond to opportunities. The other is the Yogi Berra line ‘Nobody goes to Coney Island anymore; it’s too... Paul Krugman
There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. Frederic Bastiat
The social function of economic science consists precisely in developing sound economic theories and in exploding the fallacies of vicious reasoning. In the pursuit of this task the economist incurs the deadly enmity of all mountebanks and charlatans whose shortcuts to an earthly paradise he debunks. The less these quacks are able to advance plausible objections to an economist’s argument, the more furiously do they insult them. Ludwig von Mises
Rupert Murdoch quote: "I'm not an economist and we all know economists were created..."
I'm not an economist and we all know economists were created to make weather forecasters look good. Rupert Murdoch
We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas. Milton Friedman
You still don't like the idea of gay marriage? Then, as my friend the economist Julianne Malveaux says: Don't marry a gay person. Case closed, problem solved. Barbara Ehrenreich
The economics of industrialized countries would collapse if women didn't do the work they do for free: According to economist Marilyn Waring, throughout the West it generates between 25 and 40 percent of the gross national product. Naomi Wolf
I try to kind of enlightened my frustration and agony by coming to the conclusion that I may not be useful as an economist but I m still a basic human being. I can juts go out and stand next to human being. And see if there s anything I can do to another person. Even for a day if it is help pay for more a day I feel more a little bit better. Muhammad Yunus

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