#economic

State ownership! It leads only to absurd and monstrous conclusions; state ownership means state monopoly, concentrated in the hands of one party and its adherents, and that state brings only ruin and bankruptcy to all. ↗

— Benito Mussolini

#economics #fascism #monopoly #politics #socialism

Now here's somebody who wants to smoke a marijuana cigarette. If he's caught, he goes to jail. Now is that moral? Is that proper? I think it's absolutely disgraceful that our government, supposed to be our government, should be in the position of converting people who are not harming others into criminals, of destroying their lives, putting them in jail. That's the issue to me. The economic issue comes in only for explaining why it has those effects. But the economic reasons are not the reasons ↗

— Milton Friedman

#economics #law #morality #economics

In a depression, attendance to sporting events goes down, while the percentage of people fornicating goes up, because sex is free. I know, some of you are probably thinking, Free! Where do I find those hookers?! ↗

— Jarod Kintz

#economic-depression #fornicating #funny #hookers #humor

First of all, every new company today is being built in the face of massive economic headwinds, making the challenge far greater than it was in the relatively benign '90s. ↗

— Marc Andreessen

#benign #built #challenge #company #economic

(1) Use mathematics as shorthand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real life (5) Burn the mathematics. (6) If you can’t succeed in 4, burn 3. This I do often. ↗

— Alfred Marshall

#life

Facing a deteriorating economy and a weakening hold over the populace, the Iraqi state under Saddam Hussein opted to revitalize tribal leaders and conservative practices as a means of stabilizing state power; those conservative practices were not an inherent feature of a predominantly Muslim country. ↗

— Nadje Al-Ali

#foreign-policy #government #iraq #iraqi-state #islam

There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning. ↗

— Warren Buffett

#class-warfare #economics #economics-greed #economics-money #inequality

Great leap forwards in mankind do not take place because of the economic values we place on them. They happen because we strive to do better and to be better. The sooner we break away from the 'if it makes money it must be good' mentality the better off we all shall be. ↗

— David Alejandro Fearnhead

#money

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending ↗

— Nassim Nicholas Taleb

#banking #economics #expertise #experts #finance

This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new economic history." A man does what he can, and in the more elegant - one is tempted to say "fancier" - techniques I am, as one who received his formation in the 1930s, untutored. A colleague has offered to provide a mathematical model to decorate the work. It might be useful to some readers, but not to me. Catastrophe mathematics, dealing with such events as falling off a height, is a new branch of the discipline, I am told, which has yet to demonstrate its rigor or usefulness. I had better wait. Econometricians among my friends tell me that rare events such as panics cannot be dealt with by the normal techniques of regression, but have to be introduced exogenously as "dummy variables." The real choice open to me was whether to follow relatively simple statistical procedures, with an abundance of charts and tables, or not. In the event, I decided against it. For those who yearn for numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics. ↗

— Charles P. Kindleberger

#economics #finance #statistics #money