Economics Quote by Milton Friedman

Economists may not know much. But we know one thing very well: how to produce surpluses and shortages. Do you want a surplus? Have…

— Milton Friedman

Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.

— Edward C. Prescott

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people…

— Daniel Kahneman

But the system of prices ruling the market not only transmits information in the light of which economic agents can mutually adjust their actions,…

— Michael Polanyi

Markets are nimble and efficient, gathering the collective but disbursed intelligence of the economy's players and communicating up-to-the-minute realities of prices, product availability, etc.…

— Joel Miller

One of the beauties of an economy coordinated by price movements is that nobody has to understand it in order for it to work.

— Thomas Sowell

We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for…

— Milton Friedman

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being…

— Joan Robinson

Economists are people who wonder if what works in reality can also work in theory.

— Ronald Reagan

Economists are like computers. They need to have facts punched into them.

— Kenneth E. Boulding

Economics is the study of how society manages its scarce resources.

— Greg Mankiw

Economists have put themselves in a position where what they are doing is supposed to be impossible to understand for outsiders, so they dont…

— Thomas Piketty