Economist Quotes (20 quotes)
A statistician is someone who is good with numbers but lacks the personality to be an accountant.
[Or economist]
[Or economist]
Found, for example, in A Prairie Home Companion Pretty Good Joke Book (4th ed., 2005), 216. Also seen as defining an Economist in Eighteen Annual Institute on Securities Regulation (1987), 131, which quotes it as “Tim Wirth used to say.”
And as long as industrial systems have bowels
The boss should reside in the nest that he fouls.
Economists argue that all the world lacks is
A suitable system of effluent taxes.
The boss should reside in the nest that he fouls.
Economists argue that all the world lacks is
A suitable system of effluent taxes.
In Kenneth Ewart Boulding and Richard P. Beilock (Ed.), Illustrating Economics: Beasts, Ballads and Aphorisms (1980, 2009), 3.
Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad—or an economist.
Expressing concern about ecosystems ruined by the arrival of man. As quoted by Philip Maughan, 'Sixty Years of Attenborough Through the Eyes of the New Statesman', New Statesman (21 Dec 2012), 141, No. 5138, 34. The quote came from Attenborough writing in an April 2013 issue of the same periodical.
Economists use the expression “opportunity costs” for losses incurred through certain choices made over others, including ignorance and inaction. For systematics, or more precisely the neglect of systematics and the biological research dependent upon it, the costs are very high.
In 'Edward O. Wilson: The Biological Diversity Crisis: A Challenge to Science', Issues in Science and Technology (Fall 1985), 2, No. 1, 25.
I suppose that the first chemists seemed to be very hard-hearted and unpoetical persons when they scouted the glorious dream of the alchemists that there must be some process for turning base metals into gold. I suppose that the men who first said, in plain, cold assertion, there is no fountain of eternal youth, seemed to be the most cruel and cold-hearted adversaries of human happiness. I know that the economists who say that if we could transmute lead into gold, it would certainly do us no good and might do great harm, are still regarded as unworthy of belief. Do not the money articles of the newspapers yet ring with the doctrine that we are getting rich when we give cotton and wheat for gold rather than when we give cotton and wheat for iron?
'The Forgotten Man' (1883). In The Forgotten Man and Other Essays (1918), 468.
If all economists were laid end to end, they would not reach a conclusion.
Often seen misattributed (?) to George Bernard Shaw, but there appears to be no source in the writings of Shaw. However, the theme "laid end to end, they would not" has long been used humorously in various incarnations. For example, “If all the arguments in the world were placed end to end, they would not reach any conclusion”, as used by Tom Sims in 'Tom Sims Says', Brownwood Bulletin (18 Jul 1925), 4. The subject quote was attributed to Shaw by George Soule in 'Bridges to the Unknown', in The Saturday Review of Literature (20 May 1933), 9, No. 44, 601. See discussion on the quoteinvestigator.com website.
In the company of friends, writers can discuss their books, economists the state of the economy, lawyers their latest cases, and businessmen their latest acquisitions, but mathematicians cannot discuss their mathematics at all. And the more profound their work, the less understandable it is.
Reflections: Mathematics and Creativity', New Yorker (1972), 47, No. 53, 39-45. In Douglas M. Campbell, John C. Higgins (eds.), Mathematics: People, Problems, Results (1984), Vol. 2, 7.
Isn’t it interesting that the same people who laugh at science fiction listen to weather forecasts and economists
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Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon commonplaces as French was once used in diplomatic communications. …. To be sure, mathematics can be extended to any branch of knowledge, including economics, provided the concepts are so clearly defined as to permit accurate symbolic representation. That is only another way of saying that in some branches of discourse it is desirable to know what you are talking about.
In J.R. Newman (ed.), Commentary on Cournot, Jevons and the Mathematics of Money', The World of Mathematics (1956), Vol. 2, 1200.
Nature, who is a great economist, converts the recreation of one animal to the support of another.
In Letter VII, to Thomas Pennant, in The Natural History of Selborne (1789), 35.
No effective historian of the future can be innocent of statistics, and indeed he or she should probably be a literate amateur economist, psychologist, anthropologist, sociologist, and geographer.
In 'The Challenge of Modern Historiography', American Historical Review (1 Feb 1982), 87, No. 1, 24.
Orthodoxy can be as stubborn in science as in religion. I do not know how to shake it except by vigorous imagination that inspires unconventional work and contains within itself an elevated potential for inspired error. As the great Italian economist Vilfredo Pareto wrote: ‘Give me a fruitful error any time, full of seeds, bursting with its own corrections. You can keep your sterile truth for yourself.’ Not to mention a man named Thomas Henry Huxley who, when not in the throes of grief or the wars of parson hunting, argued that ‘irrationally held truths may be more harmful than reasoned errors.’
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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.
In 'The Skeleton of Science', General Systems Theory (1956). Collected in 'General Systems Theory—The Skeleton of Science', Beyond Economics: Essays on Society, Religion, and Ethics (1968), 85.
Superman corresponds to the medieval speculations about the nature of angels. The economist Werner Sombart argued that modern abstract finance and mathematical science was a realization at the material level of the elaborate speculations of medieval philosophy. In the same way it could be argued that Superman is the comic-strip brother of the medieval angels. For the angels, as explained by Thomas Aquinas, are quite superior to time or space, yet can exert a local and material energy of superhuman kind.
In The Mechanical Bride: Folklore of Industrial Man (1967), 103.
The age of chivalry is gone. That of sophisters, economists and calculators has succeeded.
Reflections on the Revolution in France (1790, 1868), 89.
The effort of the economist is to see, to picture the interplay of economic elements. The more clearly cut these elements appear in his vision, the better; the more elements he can grasp and hold in his mind at once, the better. The economic world is a misty region. The first explorers used unaided vision. Mathematics is the lantern by which what before was dimly visible now looms up in firm, bold outlines. The old phantasmagoria disappear. We see better. We also see further.
In Mathematical Investigations in the Theory of Value and Prices (1892), 119.
The suppression of crime is not entirely a legal question. It is a problem for the physician, the economist and the lawyer. We, as physicians, should encourage the criminologist by lending to him the surgeon, the internist and all of the rest of the resources of medicine, just as we have done in the case of the flea man, the fly man, the mosquito man, the bed-bug man and all the other ologists.
From paper read at the Section on State Medicine and Public Hygiene of the State Medical Association of Texas at El Paso (11 May 1922), 'The Use Of Scopolamine In Criminology', published in Texas State Journal of Medicine (Sep 1922). Reprinted in The American Journal of Police Science (Jul-Aug 1931), 2, No. 4, 328.
The tendency of the sciences has long been an increasing proclivity of separation and dismemberment … The mathematician turns away from the chemist; the chemist from the naturalist; the mathematician, left to himself divides himself into a pure mathematician and a mixed mathematician, who soon part company … And thus science, even mere physical science, loses all traces of unity. A curious illustration of this result may be observed in the want of any name by which we can designate the students of the knowledge of the material world collectively. We are informed that this difficulty was felt very oppressively by the members of the British Association for the Advancement of Science, at their meetings at York, Oxford and Cambridge, in the last three summers. There was no general term by which these gentlemen could describe themselves with reference to their pursuits … some ingenious gentleman [William Whewell] proposed that, by analogy with artist, they might form Scientist, and added that there could be no scruple … when we have words such as sciolist, economist, and atheist—but this was not generally palatable.
In Review of Mrs Somerville, 'On the Connexion of the Physical Sciences', The Quarterly Review (1834), 51, 58-61.
The word science … is a prestige word of great potency. It is therefore attached to all manner of social programs, in order that they may shine by the reflected glory of the neon light and the radio tube. Indeed, a great many accredited social scientists, in the sense of practicing economists, sociologists, psychologists, anthropologists, and above all “political” scientists.
In Ch. 1, 'Prescientific Thoughtways in a Technological Age', Can Science Save Us? (1947, 2nd ed. 1961), 4.
There is beauty in discovery. There is mathematics in music, a kinship of science and poetry in the description of nature, and exquisite form in a molecule. Attempts to place different disciplines in different camps are revealed as artificial in the face of the unity of knowledge. All illiterate men are sustained by the philosopher, the historian, the political analyst, the economist, the scientist, the poet, the artisan, and the musician.
From address (1958), upon being appointed Chancellor of the University of California.