Economic Knowledge Quotes

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

It is a misfortune of the times that all of us must needs be amateur economists-including, and perhaps especially, the professionals.

Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.

A citizen who casts his ballot without having to the best of his abilities studied as much economics as he can fails in his civic duties.

By the time I returned to Czechoslovakia, I had an understanding of the principles of the market.

I don't think Obama understands basic economics. Not economics that work. He may understand some theory that someone in Princeton sat and dreamed up, but it's not working.

Government spending? I don't know what it's all about. I don't know any more about this thing than an economist does, and, God knows, he doesn't know much.

First of all, just because the Tea Party people appear to be generally uneducated, ignorant about the political process, ignorant about economics, confused about their own platform from the beginning, and indelicate when it comes to the craft of diplomacy, doesn't mean they're wrong.

Politicians are notoriously economically illiterate. And even when they know what would be the right thing, we don't really expect them to do it.

Most Americans don't know enough about basic economics to fill out one fortune cookie.

First of all, I am not an expert on matters on different economic systems, but in my normal social intercourse with my friends we discussed matters like that.

Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?

A politically astute president who understood deeply the economics and politics of corporate tax reform could conceivably muscle Congress toward a reform package that made sense. Trump is not that leader.

Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures?

What is important for a central banker is that you have to convey that you know what you are doing.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

I don’t know anything about money.

You read [Bill ] Maher's book, and he didn't take Econ 101. All his arguments about gasoline, it's not that they're right or wrong - they're just not informed.

Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?

The study of economics does not seem to require any specialized gifts of an unusually high order.

However, I have a low opinion of people with narrow political horizons. Someone who talks about the environment and knows nothing about economics can make as many mistakes as someone who does the opposite.

I have kids in high school that don't know how to balance a checkbook. We need to have that fundamental understanding of economics as we move forward to develop the next generation of young people.

The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.

I was trained to become an economist and I finished my work and I was teaching and did my PhD so I thought I did that. I prepared myself for that kind of road. But then I realized that I had not learned enough to solve the problem of poverty. So I distanced myself from the things that I learned and tried to learn anew about people.

If ignorance paid dividends, most Americans could make a fortune out of what they don't know about economics.