"The Worldly Philosophers" Quotes
"The Worldly Philosophers" provides an engaging and comprehensive overview of the lives and ideas of influential economists throughout history.
economics | 368 pages | Published in NaN
Quotes
But the price of bread is of interest to everyone, and it is in the same way that the price of bread is related to the price of shoes, or to the wage level, or to the distribution of income.
The production of goods and services is determined by the demands of the consumer; the distribution of goods and services is determined by the distribution of income; and the total level of goods and services is determined by the level of effective demand.
The price system is a mechanism for communicating information.
The economic problem of society is not merely a problem of how to produce goods and services, but also how to distribute them.
We are not interested in them because they hold the key to the behavior of the economic system; we are interested in them because they hold the key to the behavior of the economic system; we are interested in them because they are the instruments by which the economic system adjusts itself to the wants of the consumer.
The only thing new in the world is the history you do not know.
We are always living in the last days of something.
The economic problem is not an economic problem; it is a moral problem.
The production of wealth is not the work of any one man or even any one nation.
The best of prophets of the future is the past.
