First rule of Economics 101: our desires are insatiable. Second rule: we can stomach only three Big Macs at a time.
For economist the real world is often a special case.
For the past 15 years or so, British governments have tried to persuade the rest of us that the best judges of the national interest are…businessmen. This may be a ridiculous statement, but — ominously — fewer and fewer people laugh at it.
Frugality is founded on the principal that all riches have limits.
Give me a one-handed economist! All my economics say, ''On the one hand? on the other.''
How great, my friends, is the virtue of living upon a little!
I am indeed rich, since my income is superior to my expenses, and my expense is equal to my wishes.
I learned more about the economy from one South Dakota dust storm that I did in all my years of college.
If all the economists in the world were laid end to end, it wouldn't be a bad thing.
If all the economists were laid end to end, they would not reach a conclusion.
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
If you laid ever economist in the country end to end you would still not reach a conclusion.
If you took all the economists in the world and laid them end-to-end, they couldn't reach a conclusion
In economics the majority is always wrong.
In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.
In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.
In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated. If the world is lucky enough to enjoy peace, it may even one day make the discovery, to the horror of doctrinaire free-enterprisers and doctrinaire planners alike, that what is called capitalism and what is called socialism are both capable of working quite well.
It seems to be a law in American life that whatever enriches us anywhere except in the wallet inevitably becomes uneconomic.
Men cannot not live by exchanging articles, but producing them. They live by work not trade.
Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.