Quotes in economics
It's a recession when your neighbor loses his job; it's a depression when you lose yours.
Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.
If you bail out every investment bank that gets in trouble, thatâ€™s not capitalism, thatâ€™s socialism for the rich.
You can't incent a dead person. No matter what we do, Hawthorne will not produce any more works, no matter how much we pay him.
Ricardo's "science" was founded on the principle that capital is more or less immobile and labor highly mobile. We are enjoined today to worship the consequences of Ricardo's science, despite the fact that the assumptions on which they are based have been reversed: capital is highly mobile, and labor virtually immobile -- libertarian conservatives lead the way in rejecting Adam Smith's principle that "free circulation of labor" is a cornerstone of free trade, in keeping with their contempt for markets (except for the weak).
We do not have a functioning market in the true sense of the word in health care. That's a layer of transparency that's sorely needed in America.
It is easy to date an earthquake, but not an economic decline.
"No community need be poor if it has people and good management. No country need be poor if it has people and good management."