Famous quotes by Economists

"I have never known much good done by those who affected to trade for the public good"

Adam Smith, Economist

"Humanity is the virtue of a woman, generosity that of a man"

Adam Smith, Economist

"Great ambition, the desire of real superiority, of leading and directing, seems to be altogether peculiar to man, and speech is the great instrument of ambition"

Adam Smith, Economist

"Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer"

Adam Smith, Economist

"The only relevant test of the validity of a hypothesis is comparison of prediction with experience"

Milton Friedman, Economist

"The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes"

Milton Friedman, Economist

"The most important single central fact about a free market is that no exchange takes place unless both parties benefit"

Milton Friedman, Economist

"The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government"

Milton Friedman, Economist

"The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people"

Milton Friedman, Economist

"With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches"

Adam Smith, Economist

"What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?"

Adam Smith, Economist

"To feel much for others and little for ourselves; to restrain our selfishness and exercise our benevolent affections, constitute the perfection of human nature"

Adam Smith, Economist

"This is one of those cases in which the imagination is baffled by the facts"

Adam Smith, Economist

"The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation"

Adam Smith, Economist

"The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence"

Adam Smith, Economist

"Science is the great antidote to the poison of enthusiasm and superstition"

Adam Smith, Economist

"Only government can take perfectly good paper, cover it with perfectly good ink, and make the combination worthless"

Milton Friedman, Economist

"One man's opportunism is another man's statesmanship"

Milton Friedman, Economist

"Most of the energy of political work is devoted to correcting the effects of mismanagement of government"

Milton Friedman, Economist

"Is it really true that political self-interest is nobler somehow than economic self-interest?"

Milton Friedman, Economist

"Inflation is taxation without legislation"

Milton Friedman, Economist

"Governments never learn. Only people learn"

Milton Friedman, Economist

"Columbus did not seek a new route to the Indies in response to a majority directive"

Milton Friedman, Economist

"And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think, excuse me, if you'll pardon me, American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout?"

Milton Friedman, Economist

"A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself"

Milton Friedman, Economist

"Few can contemplate without a sense of exhilaration the splendid achievements of practical energy and technical skill, which, from the latter part of the seventeenth century, were transforming the face of material civilization, and of which England was the daring, if not too scrupulous, pioneer"

E. F. Schumacher, Economist

"Eagles come in all shapes and sizes, but you will recognize them chiefly by their attitudes"

E. F. Schumacher, Economist

"An attitude to life which seeks fulfillment in the single-minded pursuit of wealth - in short, materialism - does not fit into this world, because it contains within itself no limiting principle, while the environment in which it is placed is strictly limited"

E. F. Schumacher, Economist

"We all agree that pessimism is a mark of superior intellect"

John Kenneth Galbraith, Economist

"There's a certain part of the contented majority who love anybody who is worth a billion dollars"

John Kenneth Galbraith, Economist

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