Once upon a time my opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself.
—Herbert Hoover (1874–1964) 31st American President
A science of economics must be developed before a science of politics can be logically formulated. Essentially, economics is the science of determining whether the interests of human beings are harmonious or antagonistic. This must be known before a science of politics can be formulated to determine the proper functions of government.
—Frederic Bastiat (1801–50) French Political Economist
Economy is in itself a source of great revenue.
—Seneca the Younger (Lucius Annaeus Seneca) (c.4 BCE–65 CE) Roman Stoic Philosopher, Statesman, Tragedian
The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
—Ronald Reagan (1911–2004) American Head of State
We can no longer allow America’s dependence on foreign oil to compromise our energy security. Instead, we must invest in inventing new ways to power our cars and our economy. I’ll put my faith in American science and ingenuity any day before I depend on Saudi Arabia.
—John Kerry (b.1943) American Attorney, Politician, Diplomat
Economy, whether public or private, means the wise management of labor, mainly in three senses; applying labor rationally, preserving its produce carefully, and distributing its produce seasonably.
—John Ruskin (1819–1900) English Writer, Art Critic
A nation is not in danger of financial disaster merely because it owes itself money.
—Andrew W. Mellon (1855–1937) American Financier, Philanthropist
Nothing is cheap which is superfluous, for what one does not need, is dear at a penny.
—Plutarch (c.46–c.120 CE) Greek Biographer, Philosopher
Be thrifty, but not covetous.
—George Herbert (1593–1633) Welsh Anglican Poet, Orator, Clergyman
I learned more about economics from one South Dakota dust storm than I did in all my years in college.
—Hubert Humphrey (1911–78) American Head of State, Politician
If all the economists were laid end to end, they would not reach a conclusion.
—George Bernard Shaw (1856–1950) Irish Playwright
There is no gain so certain as that which arises from sparing what you have.
—Publilius Syrus (fl.85–43 BCE) Syrian-born Roman Latin Writer
Ere you consult fancy, consult your purse.
—Benjamin Franklin (1706–90) American Political Leader, Inventor, Diplomat
Economic growth is not only unncessary, but ruinous.
—Aleksandr Solzhenitsyn (1918–2008) Russian Dissident Novelist
It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.
—Harry S. Truman (1884–1972) American Head of State
Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body, the producers and consumers themselves.
—Herbert Hoover (1874–1964) 31st American President
Economy is the art of making the most of life. The love of economy is the root of all virtue.
—George Bernard Shaw (1856–1950) Irish Playwright
Men don’t and can’t live by exchanging articles, but by producing them. They don’t live by trade, but by work. Give up that foolish and vain title of Trades Unions; and take that of laborers Unions.
—John Ruskin (1819–1900) English Writer, Art Critic
Economy is the method by which we prepare today to afford the improvements of tomorrow
—Calvin Coolidge (1872–1933) American Head of State, Lawyer
Commerce changes the fate and genius of nations.
—Thomas Gray (1716–71) British Poet, Scholar
Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime.
—John Kenneth Galbraith (1908–2006) Canadian-Born American Economist
Commerce is a game of skill, which every man cannot play, which few men can play well. The right merchant is one who has the just average of faculties we call commonsense; a man of strong affinity for facts, who makes up his decision on what he has seen. He is thoroughly persuaded of the truths of arithmetic. There is always a reason, in the man, for his good or bad fortune; and so, in making money. Men talk as if there were some magic about this, and believe in magic, in all parts of life. He knows that all goes on the old road, pound for pound, cent for cent-for every effect a perfect cause-and that good luck is another name for tenacity of purpose.
—Ralph Waldo Emerson (1803–82) American Philosopher
The whole of the global economy is based on supplying the cravings of two per cent of the world’s population.
—Bill Bryson (1951–95) American Humorist, Author, Educator
The back door robs the house.
—George Herbert (1593–1633) Welsh Anglican Poet, Orator, Clergyman
There are but two ways of paying debt—increase of industry in raising income, increase of thrift in laying out.
—Thomas Carlyle (1795–1881) Scottish Historian, Essayist
There can be no economy where there is no efficiency.
—Benjamin Disraeli (1804–81) British Head of State
Inflation is repudiation.
—Calvin Coolidge (1872–1933) American Head of State, Lawyer
Economy does not consist in saving the coal, but in using the time while it burns.
—Ralph Waldo Emerson (1803–82) American Philosopher
An economist’s guess is liable to be as good as anybody else’s.
—Will Rogers (1879–1935) American Actor, Rancher, Humorist
Thrift is that habit of character that prompts one to work for what he gets, to earn what is paid him; to invest a part of his earnings; to spend wisely and well; to save, but not hoard.
—Neville Chamberlain (1869–1940) English Statesman
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