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Home Page » Categories » Economics

Businesspeople are not used to thinking about closed systems; economists are.

Paul Krugman A Country Is Not...
Businesspeople are not used to thinking about closed systems; economists are.

In his eighteenth-century system of the world, Newton brought together two themes. Embodied in his calculus and physics, one Newtonian revelation rendered the physical world predictable and...

George Gilder Life After...
In his eighteenth-century system of the world, Newton brought together two themes. Embodied in his calculus and physics, one Newtonian revelation rendered the physical world predictable and measurable. Another, less celebrated, was his key role in establishing a trustworthy gold standard, which made economic valuations as calculable and reliable as the physical dimensions of items in trade.

Gilder shows how, to the contrary, Israel's growing prosperity will benefit the entire region in which it is located.

George Gilder The Israel Test:...
Gilder shows how, to the contrary, Israel's growing prosperity will benefit the entire region in which it is located.

A certain group of people in the United States tried an experiment. They tried the experiment of making a fortune without working, of making a fortune through the stock exchange. They extended the...

Peter Greulich The World's...
A certain group of people in the United States tried an experiment. They tried the experiment of making a fortune without working, of making a fortune through the stock exchange. They extended the experiment until it exploded and all went down to earth. "Aspects of World Trade" Thomas J. Watson Sr. July 31, 1930

Land is the only thing in the world that amounts to anything.

Margaret Mitchell Gone with the...
Land is the only thing in the world that amounts to anything.

General admission for groundlings - those who stood in the open around the stage - was a penny. Those who wished to sit paid a penny more, and those who desired a cushion paid another penny on top of...

Bill Bryson Shakespeare: The...
General admission for groundlings - those who stood in the open around the stage - was a penny. Those who wished to sit paid a penny more, and those who desired a cushion paid another penny on top of that - all this at a time when a day's wage was 1 shilling {12 pence} or less a day. The money was dropped into a box, which was taken to a special room for safekeeping - the box office.

In a seminal 1981 paper, the economist Sherwin Rosen worked out the mathematics behind these "winner-take-all" markets. One of his key insights was to explicitly model talent - labeled, innocuously,...

Cal Newport Deep Work: Rules...
In a seminal 1981 paper, the economist Sherwin Rosen worked out the mathematics behind these "winner-take-all" markets. One of his key insights was to explicitly model talent - labeled, innocuously, with the variable q in his formulas - as a factor with "imperfect substitution," which Rosen explains as follows: "Hearing a succession of mediocre singers does not add up to a single outstanding performance." In other words, talent is not a commodity you can buy in bulk and combine to reach the needed levels: There's a premium to being the best.

It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government...

Thomas Sowell Knowledge And...
It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it.

By 1850, fifteen Boston families called the "Associates" controlled 20 percent of the cotton spindleage in the United States, 39 percent of insurance capital in Massachusetts, 40 percent of banking...

Howard Zinn A People's...
By 1850, fifteen Boston families called the "Associates" controlled 20 percent of the cotton spindleage in the United States, 39 percent of insurance capital in Massachusetts, 40 percent of banking resources in Boston.

And when horny, well-paid American flyboys are dropped into a culture defined half by cannibals and half by Frenchmen, you get a hell of a civilian economy.

Neal Stephenson Cryptonomicon
And when horny, well-paid American flyboys are dropped into a culture defined half by cannibals and half by Frenchmen, you get a hell of a civilian economy.

He wants to focus on what he calls 'cultural issues.' That makes sense, because when you're going to rob people blind you don't want to have them focus their attention on economic issues.

Noam Chomsky Class Warfare:...

One should attend carefully to the fear and desperation of the powerful. They understand very well the potential reach of the "ultimate weapon," and only hope that those who seek a more free and just...

Noam Chomsky Profit Over...

The ideas of debtor and creditor as to what constitutes a good time never coincide.

P. G. Wodehouse Love Among the...

On Earth one of the things that a large proportion of the locals is most proud of is this wonderful economic system which, with a sureness and certainty so comprehensive one could almost imagine the...

Iain M. Banks The State of the...

Do you understand economics? I mean big-time, prewar, global capitalism. Do you get how it worked? I don't, and anyone who says they do is full of shit.

Max Brooks World War Z: An...

International business, once allowed to stalk uncontrolled, killed the local, the small, the quirky.

Alexander McCall Smith Love Over...
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Today Birthdays

1811 - William Makepeace Thackeray 1937 - Hunter S. Thompson 1918 - Nelson Mandela 1950 - Richard Branson 1969 - Elizabeth Gilbert 1964 - Wendy Williams 1933 - Yevgeny Yevtushenko 1950 - Jack Layton 1952 - Per Petterson 1921 - John Glenn 1934 - Edward Bond 1906 - S. I. Hayakawa 1913 - Red Skelton 1900 - Nathalie Sarraute 1950 - Mark Udall 1980 - Kristen Bell 1726 - George Savile 1950 - Shahid Khan 1975 - Daron Malakian 1957 - Nick Faldo 1720 - Gilbert White 1911 - Hume Cronyn 1962 - Jack Irons 1865 - Laurence Housman 1940 - James Brolin
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