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" Hating Wall Street is an American tradition that dates back even to the days when Thomas Jefferson cursed that money lover Alexander Hamilton. And for centuries, the complaints about it have largely stayed the same: 'It does nothing! It creates chaos! It's a parasite that sucks hardworking Americans dry!' "

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

Adam Davidson

Finding

Economy

Job

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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

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

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

" 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. "

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

" 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. "

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

Adam Davidson

Education

Skills

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

" 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. "

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

" 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. "

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

" 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. "

" 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. "

" 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. "