Economist Quote by Hedrick Smith

“It's usually much easier for people with professional skills to find work for themselves or even possibly to continue with their old employer, but on a part-time basis. Some labor economists predict that in about five years there will be a labor shortage in the United States and that demand for retirees to work part-time will grow naturally. I don't know if that's true or just wishful predicting.”

Hedrick Smith

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“Overall, more than fifty-nine thousand factories and production facilities were shut down all across America over the last decade, and employment in the core manufacturing sector fell from 17.1 million to 11.8 million from January 2001 to December 2011, a punishing toll for what historically had been the best sector for steady, good-paying middle-class jobs. By pursuing a deliberate strategy…

Hedrick Smith

“We are literally Two Americas, remarkably out of touch with each other— the fortunate living the American Dream but lacking any practical comprehension of…

Hedrick Smith

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The most common mistakes were investing in money market funds by people who were so scared at the prospect of managing their own funds that they picked the most conservative option, and their investments did not keep up with inflation. The second major mistake was being too heavily invested in their own company's stock, and buying when it was high…

Hedrick Smith

“Translating cold numbers into a graphic picture of the hard economic realities in the lives of ordinary people is a challenge. In the 1990s, economist Edward Hyman of the ISI Group devised the Misery Index to capture the stress on average families by costly, unavoidable items that take a big bite out of family budgets and crimp what families have…

Hedrick Smith

Less money for retirees means less purchasing power means less economic growth overall. It's a big problem.

Hedrick Smith

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Journalists cover words and delude themselves into thinking they have committed journalism.

Hedrick Smith

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One of the strongest lessons I learned in doing six months of work on retirement topic was how absolutely crucial the Social Security system…

Hedrick Smith

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“Two trends are primarily responsible for today’s hyperconcentration of wealth inAmerica— the collective decisions over time by America’s corporate power elite to take a…

Hedrick Smith

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The main problems are insufficient diversification and the failure to pick age-appropriate strategies - that is, more aggressive when you're younger, and more conservative…

Hedrick Smith

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It really depends upon how much money you have in your account. Having a monthly paycheck come in for the rest of your life…

Hedrick Smith

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“Henry Ford gave that idea popular currency when he brought out the famous Model T car and announced in 1914 that he would pay his workers the then unheard-of wage of $ 5 a day. Not only was it a matter of social justice, Ford later wrote, but it was smart business. When wages are low, Ford argued, business and…

Hedrick Smith

“Since the early 1990s, a shadow government has taken root along K Street, the Washington corridor that is home to block after stately block of law firms and lobbying offices. Over the years, this army of influence peddlers has gone well beyond the hunt for votes on Capitol Hill. Smart lobbyists know that it is not just the final vote…

Hedrick Smith

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Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.

Mark Zandi

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Economists think about what people ought to do. Psychologists watch what they actually do.

Daniel Kahneman

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It is often sadly remarked that the bad economists present their errors to the public better than the good economists present their truths. It…

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“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises…

Nassim Nicholas Taleb

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All professionals, whether physicists, economists or musicians, live by and for peer judgment, even when they are being paid by people who cannot tell…

Eric Hobsbawm

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Losses of a kind of satisfaction that have no market equivalent don't show up in the calculations of economists.

Ivan Illich

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Louis Kelso of San Francisco, a lawyer-economist, has for years felt that he has a radical answer to the problem.

William F. Buckley, Jr

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Economic theorists should not make such a production about taking a rabbit out of a hat after having put the rabbit into the hat…

Joan Robinson

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I have learned more [from Balzac] than from all the professional historians, economists, and statisticians put together.

Friedrich Engels

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The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use…

Barry Ritholtz

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Economists actually disagree about whether there are significant economic returns from attending an elite college versus a less-selective one.

Emily Oster

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However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance…

Paul Krugman

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