Economics Quotes

Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyp...

That's a large part of what economics is - people arbitrarily, or as a matter of taste, assigning nu...

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen...

Copyright law has got to give up its obsession with 'the copy.' The law should not regulate 'copies'...

Printing currency for foreigners to buy is the best racket a government can get into.

In my considered opinion, salary is payment for goods delivered and it must conform to the law of su...

I think the very best attitude for anyone investing in the stock market is to make up his mind to lo...

And I know this happens because I took economics, and I'd explain it to ya, but I flunked that cours...

The economics of the security world are all horribly, horribly nasty and are largely based on fear, ...

There lies another power in man. That power is Moral: Its name is CHOICE! Within this one word, Choi...

Romanticism is man's revolt against reason, as well as against the condition under which nature has ...

The desire for an increase of wealth can be satisfied through exchange, which is the only method pos...

The Marxians love of democratic institutions was a stratagem only, a pious fraud for the deception o...

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not w...

What ranks above all else for economic and political reconstruction is a radical change of ideologie...

The phenomenon of money presupposes an economic order in which production is based on division of la...

The central element in the economic problem of money is the objective exchange-value of money, popul...

There is not the slightest analogy between playing games and the conduct of business within a market...

The role played by man in production always consists solely in combining his personal forces with th...

These people look upon inequality as upon an evil. They do not assert that a definitedegree of inequ...

Inequality of wealth and incomes is an essential feature of the market economy. It is the implement ...

In the market economy the consumers are supreme. Consumers determine, by theirbuying or abstention f...

Used to the conditions of a capitalistic environment, the average American takes it for granted that...

People must learn that the accumulation of wealth by the successfulconduct of business is the coroll...

The social function of economic science consists precisely in developing soundeconomic theories and ...

Socialism is an alternative to capitalism as potassium cyanide is an alternative to water.

Without exception all political parties promise their supporters a higher real income. There is no d...

It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor...

It is true that some secluded intellectuals in their esoteric circles talk differently. They proclai...

Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as ...

All varieties of the producers' policy are advocated on the ground of their alleged ability to raise...

Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things ...

It is irrelevant to the entrepreneur, as the servant of the consumers, whether the wishes and wants ...

Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing a...

How little one is justified in speaking in this connection of "optimism" and "pessimism" and how muc...

The law-abiding citizen by his labor serves both himself and his fellow man and thereby integrates h...

War prosperity is like the prosperity that an earthquake or a plague brings.

The doctrine of the importance of hoards for stabilizing the objective exchange-value of money has g...

It is illogical to say, as many etatists do, that liberalism is hostile to or hates the state, becau...

It is not in the power of governments to increase the supply of one commodity without a correspondin...

The elimination of profit, whatever methods may be resorted to for its execution, must transform soc...

Since its appearance the view that prostitution is a product of capitalism has gained ground enormou...

Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore in...

Nonetheless, many people, and especially intellectuals, passionately loathe capitalism. As they see ...

The biological equipment of a man rigidly restricts the field in which he can serve.

Nevertheless statesmen are still greatly exercised by the problem of the international distribution ...

But it must be observed that as the depreciation of money proceeds, the demand for money (i.e. for t...

It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like ...

Consistently and uninterruptedly continued inflation must eventually lead to collapse. The purchasin...

Big variations in the value of money give rise to the danger that commerce will emancipate itself fr...

The mistake in the argument of those who suppose that a variation in the quantity of money results i...

A government always finds itself obliged to resort to inflationary measures when it cannot negotiate...

Inflation made it possible to divert the fury of the people to 'speculators' and 'profiteers'. Thus ...

Alterations in real prices occur slowly as a rule. But this stability of prices has its cause in the...

If all the exchange-ratios of the past were erased from human memory, the process of market-price-de...

This was the argument put forward during the War when the expenditure on the army and navy had to be...

A third group of inflationists do not deny that inflation involves serious disadvantages. Neverthele...

Depreciation of money can benefit debtors only when it is unforeseen. If inflationary measures and a...

Other inflationists realize very well that an increase in the quantity of money reduces the purchasi...

Fiat-money! Let the State 'create' money, and make the poor rich, and free them from the bonds of th...

If the State uses this power systematically in order to force the community to accept a particular s...

Naive inflationism demands an increase in the quantity of money without suspecting that this will di...

When individuals are exchanging present goods against future goods they do not take account in their...

The entrepreneur who is reckoning in terms of a currency with a stable value is unable to compete wi...

It has been proposed that monetary liabilities should be settled in terms of gold and not according ...

So far as variations in the objective exchange-value of money are foreseen, they influence the terms...

At one time, this gave rise to the question of whether the legal validity of the money was determine...

But when States did debase the coinage, it was always from purely fiscal motives. The government nee...

The collapse of an inflation policy carried to its extreme -- as in the United States in 1781 and in...

In the case of money, subjective use-value and subjective exchange-value coincide. Both are derived ...

For hundreds, even thousands, of years, people completely failed to see that variations in the objec...

If we compare two static economic systems, which differ in no way from one another except that in on...

No individual and no nation need fear at any time to have less money than it needs. Government measu...

It is true that there are important differences between that money which plays the chief part in dom...

When jurists and business men assert that the depreciation of money has a very great influence on al...

To recapitulate: the exchange-ratio subsisting between commodities and money is everywhere the same....

He who cares to go to the trouble of demonstrating the uselessness of index numbers for monetary the...

Hence, the statement that the cost of living is different in different localities only means that th...

Local differences in the prices of commodities whose natures are technologically identical are to be...

The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluct...

We can easily imagine a monetary organization which, by the exclusive use of notes or clearing-house...

There are two parts to the problem of measuring the objective exchange-value of money. First we have...

To measure is to determine the ratio of one quantity to another which is invariable or assumed to be...

Let us assume that a man gets half his income in the form of interest-bearing securities and half in...

Under bilateral competition, market-price is determined within a range whose upper limit is set by t...

The moneyprice of any commodity in any place, under the assumption of completely unrestricted exchan...

Under certain conditions, index numbers may do very useful service as an aid to investigation into t...

Money is not indefinitely divisible. Even with the assistance of money-substitutes for expressing fr...

But here again it must be observed that this is a matter of a variation brought about through dynami...

The aim was to regulate the value of money by increasing or diminishing the quantity of it. The effe...

Economic history shows us a continual increase in the demand for money. The characteristic feature o...

All index-number systems, so far as they are intended to have a greater significance for monetary th...

The sums of money collected in hoards lie there idle, waiting for the moment when commerce needs the...

If the objective exchange-value of money must always be linked with a pre-existing market exchange-r...

Even if index numbers cannot fulfill the demands that theory has to make, they can still, in spite o...

The first value of money was clearly the value which the goods used as money possessed (thanks to th...

We have already examined one of the objections that have been brought against the Quantity Theory; t...

To a naive observer, money made out of precious metal was 'sound money' because the piece of preciou...

What is called storing money is a way of using wealth. The uncertainty of the future makes it seem a...

Let us now leave the example of the isolated State and turn our attention to the international movem...