Law and Economics Quotes


The true law of economics is chance, and we learned people arbitrarily seize on a few moments and establish them as laws. Karl Marx

We shall never have a science of economics unless we learn to discern the operation of law even among the most perplexing complications and apparent interruptions. William Stanley Jevons

Moore's law is really about economics. Gordon Moore

Agriculture is one economic activity that does not obey the laws of demand and supply. John Kenneth Galbraith

By the laws of the land, people who come looking for jobs in America are illegal. But by the laws of economics, they are following the logic and laws of economics when they leave Guatemala and go to Mexico, leave Mexico and come to the U.S., leave Africa and go to Spain and Europe looking for jobs. Benjamin Barber

But while they prate of economic laws, men and women are starving. We must lay hold of the fact that economic laws are not made by nature. They are made by human beings. Franklin D Roosevelt

I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork. Robert Reich

"Murphys law of economic policy": Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently. Alan Blinder

The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road. James Thurber

Political economy regards the proletarian like a horse, he must receive enough to enable him to work. It does not consider him, during the time when he is not working, as a human being. It leaves this to criminal law, doctors, religion, statistical tables, politics, and the beadle. Karl Marx

The first law of economics is that when the price goes up, consumption comes down. This is a divine law. Ahmed Zaki Yamani

Therefore, to teach them [women] at least an outline of economics and law is the first requirement after giving them a general education. Figuratively speaking, it will be like providing the women of civilized society with a pocket dagger for self-protection. Fukuzawa Yukichi

Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx. Joan Robinson

Litmus test: If you can't describe Ricardo 's Law of Comparative Advantage and explain why people find it counterintuitive, you don't know enough about economics to direct any criticism or praise at " capitalism " because you don't know what other people are referring to when they use that word . Eliezer Yudkowsky

Economics is extremely useful as a form of employment for economists. John Kenneth Galbraith

Here is a law which is above the King and which even he must not break. This reaffirmation of a supreme law and its expression in a general charter is the great work of Magna Carta; and this alone justifies the respect in which men have held it Winston Churchill

In the United States especially, politics and economics do' mix well. Politicians have all sorts of reasons to pass all sorts of laws that, as well-meaning as they may be, fail to account for the way real people respond to real-world incentives. Steven Levitt

In the United States especially, politics and economics don't mix well. Politicians have all sorts of reasons to pass all sorts of laws that, as well-meaning as they may be, fail to account for the way real people respond to real-world incentives. Steven Levitt

Economics is not politics. One is a science, concerned with the immutable and constant laws of nature that determine the production and distribution of wealth; the other is the art of ruling. Frank Chodorov

Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are. Albert J Nock



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