Economics make homeopath and alternative healers look empirical and scientific.
A healthy economics has got to have both conceptual, theoretical research and applied, empirical research.
American influence in the world is certainly considerable, but the United States does not control, directly or indirectly, the politics and economics of other societies, as empires have always done, save for a few special cases that turn out to be the exceptions that prove the rule.
Perhaps one day earthquakes, hurricanes and financial crashes will all be predictable. But we don't have to wait until then for seismology, meteorology and economics to become sciences; they already are.
I am aiming my books at anybody with no economics background.
I picked economics at the end of my undergraduate time because it seemed to be a really nice combination of theory, including mathematical theory on one hand, and things that are quite practical that you can touch and see and feel. So I picked it, and I consciously thought of it as an experiment to see if I liked it. And it worked.
In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else.
Sometime, while I wasn't paying attention, trickle-down economics got respectable.
The arts community is generally dominated by liberals because if you are concerned mainly with painting or sculpture, you don't have time to study how the world works. And if you have no understanding of economics, strategy, history and politics, then naturally you would be a liberal.
But beginners to the World Economics Forum have to understand there is no single Davos experience, and there is no single Davos community either. There are numerous tribes who interact only at a minimal level.
I'm a professor of economics and associate head of the MIT Department of Economics.
The difficulty for the Government is there's this ideological straitjacket of the market will provide, let the market rip and everything will work out... It's back to trickle-down economics, which, it's plain to see, have not delivered.
Narrative drives most of economics. Everything seems to be part of a story, and how that story is told often leads to critical error.
People used to ask me for advice, and I'd say, 'Please, don't ask me!' Yes, I did economics at Oxford, but that's not the same as having a broad knowledge of personal finance.
I thought I might like to farm. But I didn't know the economics of it. Teachers basically steered me away from it.
Big-government economics breeds crony capitalism. It's corrupt, anything but neutral, and a barrier to broad participation in prosperity.
The modern economics of the theater is such that we write plays with fewer and fewer characters.
Letting bygones be bygones is a basic principle in economics.
Although being economics editor sounds impressive, it does not mean I actually edit anything. It mainly reflects two decades of title-inflation at the BBC, which has given ever more status to senior reporters, presumably because it is cheaper to do that than to offer higher pay.
If you look at the economics of Nokia, roughly half of the company, half of the business, half of how we think about the business is focused on those emerging markets and on those lower-priced devices. But, of course, people who are aspirational and buying those lower-priced devices today are looking at smart phones tomorrow, and so forth.
Entrepreneurship isn't for everyone, and not everyone is going to be an entrepreneur, but women who turn to business, turn to economics, because there are people depending on them, I think that their creativity, their resilience, their spirit, embody what's best about entrepreneurship.
Rather than dividing the world between good and evil, the Left divided the world in terms of economics. Economic classes, not moral values, explained human behavior. Therefore, to cite a common example, poverty, not one's moral value system, or lack of it, caused crime.
I have an economics degree with a minor in sociology. The reason I have that is because I want to do a ministry in urban areas and help with underprivileged kids.
Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
January is always a good month for behavioral economics: Few things illustrate self-control as vividly as New Year's resolutions. February is even better, though, because it lets us study why so many of those resolutions are broken.
When goods are digital, they can be replicated with perfect quality at nearly zero cost, and they can be delivered almost instantaneously. Welcome to the economics of abundance.
It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist.
The way I think of it, economics and ecology occupy two intellectual silos, isolated from each other. Even when they do take each other into consideration, it's not uncommon for ecologists to spout absolute nonsense about economics, and vice versa.
People tend to think that numbers are quite objective, but numbers in economics are not like this. Some economists say they're like sausages: you don't know what they really are until you cut into them.
Unlike economics, whose sole preoccupation in our finance-obsessed era is the near-term profit motive, history offers a way to place our tiny lifespans in a narrative that spans dozens of generations - perhaps even reaching into a future where capitalism is no longer our dominant form of economic organization.
At a purely practical level, history is important because it provides the basic skills needed for students to go further in sociology, politics, international relations and economics. History is also an ideal discipline for almost all careers in the law, the civil service and the private sector.
Economics works great for planning your life when you don't have a work passion, since we tend to assume that your job delivers only money and you trade off job hours with leisure hours. If you think your job will just be a job, pick one that pays well per hour and leaves you some time off, even if the activity of the job is boring.
Plays are getting smaller and smaller, not because playwrights minds are shrinking but because of the economics.
I gravitated to economics because I'm interested in how people coordinate and collaborate with each other. Economics studies all the ways people get along with each other.
I view the work I've done related to statistics and economics as, roughly speaking, how to do something without having to do everything.
Since scarcity is the basic economic problem, if it does not exist then there is no reason for my economics course. Devoting time to the study of how people use limited resources to fulfill unlimited wants and needs should help us to discover how to best utilize the resources we have at our disposal.
