There is no such thing as economics, only social science applied to economic problems.
Economics never was a dismal science. I should be a realistic science.
The point of studying economics is so as not to be fooled by economists.
I think the world is becoming more global. Because of economics, you have to feed the demographics that are buying your product.
We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did.
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
The reason we should do a carbon tax is because it's the right thing to do. It's economics 101, elementary stuff.
Most people have an aversion to risk, my college economics professor told me. Which means they have to be rewarded to take on that risk. The higher the risk, the higher the possible payout has to be for people to jump.
When I first started out in my career, I'd been a lit major in college so I didn't have a lot of choices. The traditional options were management consultant or investment banking, and I hadn't even taken an economics class so those were pretty much out. I didn't want to go into academia. For me, research and instinct were my unique tools that seemed to work best on a marketing and merchandizing path. It's kind of right-brain and left-brain.
Physicists have a bias to aspire to be "seers" like Einstein rather than "craftspeople" who do simple and practical research. I have seen that in economics departments. The same must be true to some extent in other departments.
All public resources go to the rich. The poor, if they can survive in the labor market, fine. Otherwise, they die. That's economics in a nutshell.
What's against legalization in a practical sense? A couple of college kids figured out how to take a hemp plant and turn it into newspaper and it was actually a better quality of paper. It was cheaper and if you plant hemp in a field it revitalizes the soil. You can grow food in a dirt lot if you do enough harvest of hemp. I don't pretend to know the specifics of the economics of it to say how much we'll be getting, but there is money to be made there that is not being made because it's illegal.
Before economics can progress, it must abandon its suicidal formalism.
95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.
Economics as a discipline has in effect become the study of capitalism. The two are taken as the same subject.
Economics is a social science, not a physical science.
Truly environmentalism has displaced economics as the dismal science.
There are millions of white Americans today who still can barely bring themselves to acknowledge that the Civil War, with its twin Americas locked in a death match, was about slavery. They'll argue it was about economics, and they're right only because one of those economies was a slave economy. They'll argue it was about culture, and they're right only because one of those cultures was a slave culture.
We have one asset, and that's people.
Our necessities are few, but our wants are endless.