Get QuoteDark Inspirational Quotes App
" Investing should be dull. It shouldn't be exciting. "
" I think that it's more important for an economist to be wise and sophisticated in scientific method than it is for a physicist because with controlled laboratory experiments possible, they practically guide you; you couldn't go astray. Whereas in economics, by dogma and misunderstanding, you can go very sadly astray. "
" Keynes's contribution was not just to advocate spending government money in the middle of a recession. Every government had done that going back to the days of the Irish potato famine. What he gave to us was a way of thinking about the magnitude and the dimensions and so forth. "
" Economics has never been a science - and it is even less now than a few years ago. "
" People had J.F.K. all wrong. They thought of him as a dashing, deciding type. He was an extremely hesitant person who checked the ice in front of him all the time. "
" Every good cause is worth some inefficiency. "
" What I say is, 'If you're so rich, how come you're so dumb?' "
" Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet. "
" 'There are no easy pickings.' That would be a more accurate, less dramatic statement than 'There's no such thing as a free lunch.' "
" What is it that the scientist finds useful in being able to relate a positive description of behavior to the solution of a maximizing problem? That is what a good deal of my own early work was about. "
" The history of the twentieth century - America's century! - has been pretty much a history of rising prices. "
" Women are men without money. "
" The problem is no longer that with every pair of hands that comes into the world there comes a hungry stomach. Rather it is that, attached to those hands are sharp elbows. "
" People have the wrong idea that God will forgive Reagan. They say he didn't know what he was doing. It's true he didn't know a lot of what was going on, but he was directly responsible. "
" When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me? "
" I believe, in the stock market - that's one of my fields - that most people are irrational. And to be irrational, you can be irrational in so many different ways that, practically, the result is indeterminate. "
" My family was well off but not rich. I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble. That was a disequilibrium system. I realized that the ordinary old-fashioned Euclidean geometry didn't apply. "
" It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office. "
" Let me acknowledge that I realize that, in honoring me, the Committee of the Royal Academy of Sciences is in fact saying a good word for all of those of my generation who have been laboring in the same vineyard. "
" I have not been able in one lecture even to scratch the surface of the role of maximum principles in analytic economics. "
" Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. "
" Let those who will - write the nation's laws - if I can write its textbooks. "
" I'm not speaking in favor of killing innovation. I'm speaking in favor of centrist use of the market, which involves necessarily a considerable degree of regulation. Markets by themselves will get themselves inevitably into inequality and into their own destruction. It will happen again and again. "
" In well-functioning markets, price equals opportunity cost. Meaning that the proper way to price out and charge us for things is to charge us what those resources could otherwise have produced. This is a lesson the Soviet Union never learned at all, and the rest is history. "
" Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes. "
" The contrafactual history is what it would have been the other way. Think of the Kennedy triumph in the missiles crisis. Worked out fine. Khrushchev blinked and so forth. The other road, you don't want to think too hard about. You could have had nuclear missiles wiping out a tenth of the globe. "
" It is dead wrong about necessary surplus of winnings over losings. "
" I came to the University of Chicago on the morning of January 2, 1932. I wasn't yet a graduate of high school for another few months. And that was about the low point of the Herbert Hoover/Andrew Mellon phase after October of 1929. That's quite a number of years to have inaction. "
" A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession. "
" Good questions outrank easy answers. "
" I can't think of a president who has been overburdened by a knowledge of economics. "