Economist Quotes

Money is the best rule of commerce.
No man pays double or twice for the same thing, forasmuch as nothing can be spent but once.
That some are poorer than others, ever was and ever will be: And that many are naturally querulous and envious, is an Evil as old as the World.
The trade of banks is the buying and selling of interest and exchange.
Wherefore the race being not to the swift, etc. but time and chance happening to all men, I leave the Judgement of the whole to the Candid, of whose correction I shall never be impatient.
Wherefore when a man giveth out his money upon condition that be may not demand it back until a certain time to come, he certainly may take a compensation for this inconvenience which he admits against himself.
In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.'
Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh.
The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it.
There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of course they were not.
A great emigration necessarily implies unhappiness of some kind or other in the country that is deserted.
A writer may tell me that he thinks man will ultimately become an ostrich. I cannot properly contradict him.
Each pursues his own theory, little solicitous to correct or improve it by an attention to what is advanced by his opponents.
I do not know that any writer has supposed that on this earth man will ultimately be able to live without food.
I think it will be found that experience, the true source and foundation of all knowledge, invariably confirms its truth.
In a state therefore of great equality and virtue, where pure and simple manners prevailed, the increase of the human species would evidently be much greater than any increase that has been hitherto known.
It is an acknowledged truth in philosophy that a just theory will always be confirmed by experiment.
No limits whatever are placed to the productions of the earth; they may increase forever.
Population, when unchecked, goes on doubling itself every 25 years or increases in a geometrical ratio.
Population, when unchecked, increases in a geometrical ratio.
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