Economists Quotes



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Years ago, I noticed one thing about economics, and that is that economists didn't get anything right. Nassim Nicholas Taleb
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Ask five economists and you'll get five different answers - six if one went to Harvard. Edgar Fiedler
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Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can. Tim Harford
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People today don't become economists to make the world a better place. Tim Harford
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Economists are generally negligent of their heroes. John Kenneth Galbraith
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Only economists mistake physical opulence for riches. Aldo Leopold
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Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce, economists call it a crisis and say that it's a question for politicians, not their own department. Michael Hudson
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Policy makers have plainly failed both here in the United States and in Europe as well. People who have suffered because of that. And when they say, "Throw out economists, we don't trust economists anymore," you can totally understand why. Katty Kay
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The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings. Paul Ormerod
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I am one of the most successful economists, according to what markets tell us, though most of my professional colleagues, who are much keener to accept market outcomes than I am, would dismiss me as a crank or - the worst of all abuses among economists - a 'sociologist.' Hajoon Chang
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In short, competition has to shoulder the responsibility of explaining all the meaningless ideas of the economists, whereas it should rather be the economists who explain competition. Karl Marx
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In the 2013 Economists Program, we hired 51 percent women, 49 percent men. And the reason for that is that we have a draft from all over the world, and we've hired, for instance, in that group, a good number of Chinese economists - highly qualified, all Ph.D.s from the best universities of the world. And guess what? They're all women. Christine Lagarde
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Physicists only talk to physicists, economists to economists-worse still, nuclear physicists only talk to nuclear physicists and econometricians to econometricians. One wonders sometimes if science will not grind to a stop in an assemblage of walled-in hermits, each mumbling to himself words in a private language that only he can understand. Kenneth E. Boulding
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Economists suffer from a deep psychological disorder that I call 'physics envy'. We wish that 99 percent of economic behavior could be captured by three simple laws of nature. In fact, economists have 99 laws that capture 3 percent of behavior. Economics is a uniquely human endeavor ... Andrew Lo
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Engineers do engineering, i.e. they build bridges. So engineering needs engineers. The economy does NOT need economists. Economists do not make economy, but they try it and that is why we have so much problems with some financial models. Steve Keen
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It is often sadly remarked that the bad economists present their errors to the public better than the good economists present their truths. It is often complained that demagogues can be more plausible in putting forward economic nonsense from the platform than the honest men who try to show what is wrong with it. Henry Hazlitt
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It gives evolutionary biologists great status if they champion competition and the economists have to consult them. The economists have to consult the evolutionary biologists, because they are the ones who invented the idea of competition. It comes from the field of evolution. Greg Graffin
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No one knows anything about economics. It's the great lie of the economists. By contrast in football people might have contrasting opinions, each of which has some validity. But the economists always speak in conditionals - what a mess. Vicente Del Bosque
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Economists say the inability to delay gratification is a primary predictor of economic failure in life. Brian Tracy
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Economists can certainly disappoint you. One said that the economy would turn up by the last quarter. Well, I'm down to mine and it hasn't. Robert Orben
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