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" Happiness statistics may be most valuable in smaller, local discussions. Understanding how different sorts of programs affect the well-being of citizens would be enormously helpful to a mayor choosing between building a new bridge or offering a tax cut. "

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" Economics is all about consumption. People either spend money now or they use financial instruments - like bonds, stocks and savings accounts - so they can spend more later. "

Adam Davidson

Money

People

Now

" When you cover the economy as a reporter, there's one part of the job that is always easy: finding economists who disagree. "

" The economy works best when better ideas win out over worse ideas, harder work wins out over less work, when it's a fair fight in the marketplace. "

" It makes me happy to think that this world of art-as-investment is a minuscule fraction of the art world overall. Most people who create, trade and own art do it for a much simpler reason. They just like it. "

" We can fight over what the taxation levels should be, but the tax system should be very, very simple and not distortionary. "

" If your business is really easy to do, don't gloat. You might be out of a job soon. "

" The America that I think most Americans would want, most economists on the right or left would want, is one in which a smart, ambitious, hardworking person without a huge amount of resources has a pretty good shot, in the end, of beating out a less smart, less ambitious, less hardworking rich person. "

" Poverty is not the simple result of bad geography, bad culture, bad history. It's the result of us: of the ways that people choose to organize their societies. "

" Most rich countries have reported increases in happiness as they become richer. "

" Much of what we consider the American way of life is rooted in the period of remarkably broad, shared economic growth, from around 1900 to about 1978. "

" Economics is not a discipline that comes to correct answers - economies are too complex. "

" When you see a merger between two giants in a declining industry, it can look like the financial version of a couple having a baby to save a marriage. "

" Happiness quantification sounds a bit wishy-washy, sure, and through a series of carefully administered surveys across the globe, economists and psychologists have certainly confronted a fair number of sticky issues around how to measure, and even define, happiness. "

" One of the great political and economic challenges of our time is figuring out the balance between wealth that benefits society and wealth that distorts. "

" Perhaps concentrated wealth will inspire a nation of innovative problem-solvers. But if the view of many economists is right - that it sometimes discourages innovation - then we should worry. "

" A healthy economy is largely a result of a reasonable balance between consumption today and consumption deferred, and it's pretty clear that balance has been ridiculously out of whack for a while. "

" Art is often valuable precisely because it isn't a sensible way to make money. "

" If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history. "

" The so-called skills gap is really a gap in education, and that affects all of us. "

Adam Davidson

Education

Skills

" The economics profession advances by one confusing financial disaster at a time. "

" If large numbers of people believe they have no shot at a better life in the future, they will work less hard and generate fewer new ideas and businesses. The economy, as a whole, will be poorer. "

" Lots of countries have great constitutions, but their leaders have a practice of ignoring the rules whenever they feel like it. "

Adam Davidson

Rules

Great

" In poor countries, the rich and powerful crush the poor and powerless. "

" If an alien with an accounting degree touched down in America, it might conclude that we're a weird cult that spends 11 months living frugally and four crazy weeks buying tons of stuff we don't need. It wouldn't be entirely wrong, either. "