Economic Laws Quotes

Domestick Trade depends on the Money. A greater Quantity employes more People than a lesser Quantity. A limited Sum can only set a number of People to Work proportion'd to it, and 'tis with little success Laws are made, for Employing the Poor or Idle in Countries where Money is scarce; good Laws many bring the Money to the full Circulation 'tis capable of, and force it to those Employments that are most profitable to the Country: But no Laws can make it go furder, nor can more People be set to Work, without more Money to circulate so, as to pay the Wages of a greater number. They may be brought to Work on Credit, and that is not practicable, unless the Credit have a Circulation, so as to supply the Workman with necessaries; If that's suppos'd, then that Credit is Money, and will have the same effects, on Home, and Forreign Trade.

We are for Free Trade, because by Free Trade all economical laws, with their most astounding contradictions, will act upon a larger scale, upon the territory of the whole earth; and because from the uniting of all these contradictions in a single group, where they will stand face to face, will result the struggle which will itself eventuate in the emancipation of the proletariat.

The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.

Hunger could not exist but through violation of economic laws and fundamental principles of social justice.

The true law of economics is chance, and we learned people arbitrarily seize on a few moments and establish them as laws.

Those who claim they are the prisoners of the laws of economics, only testify that they are prisoners of the idol.

During the Boom Years, it was so easy to lose sight of basic values. For example, there was lots of nonsense said and written about the so-called "New Economy." Some people said all economic laws have been overturned! Then all the problems developed. Corporations were heavily fined for illegalities. Many of their senior-level executives were indicted, convicted, and sent to prison.

[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics

A true socialist never hates people. He knows, that they are products of the great economical laws, which in the present society divides man into two nations of poor and rich… We socialists never hate specific individuals. But we hate the system - capitalism, militarism, reaction – and that system we scorn with a healthy, burning, eternal hatred.

Agriculture is one economic activity that does not obey the laws of demand and supply.

The historical method has revolutionized Political Economy, not by showing its laws to be false, but by proving that they are relative for the most part to a particular stage of civilization. This destroys their character as eternal laws, and strips them of much of their force and all their sanctity. In this way the historical method has rescued us from intellectual superstitions.

The Internet doesn't change everything. It doesn't change supply and demand.

We must lay hold of the fact that economic laws are not made by nature. They are made by human beings.

It has been said, and perhaps with truth, that the conclusions of Political Economy partake more of the certainty of the stricter sciences than those of most of the other branches of human knowledge.

No country can violate the laws of economic gravity too long.

Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory.

No country whatsoever, big or small, can build socialism by taking credits and aid from the bourgeoisie and the revisionists or by integrating its economy into the world system of capitalist economies. Any such linking of the economy of a socialist country with the economy of bourgeois or revisionist countries opens the doors to the actions of the economic laws of capitalism and the degeneration of the socialist order. This is the road of betrayal and the restoration of capitalism, which the revisionist cliques have pursued and are pursuing.

For complex reasons, our culture allows "economy" to mean only "money economy." It equates success and even goodness with monetary profit because it lacks any other standard of measurement. I am no economist, but I venture to suggest that one of the laws of such an economy is that a farmer is worth more dead than alive. A second law is that anything diseased is more profitable than anything that is healthy. What is wrong with us contributes more to the "gross national product" than what is right with us.

In the main the Academy helped to frame only laws of an economic or social nature, since owing to the development of the totalitarian regime it became more and more impossible to cooperate in other spheres.

Economists suffer from a deep psychological disorder that I call 'physics envy'. We wish that 99 percent of economic behavior could be captured by three simple laws of nature. In fact, economists have 99 laws that capture 3 percent of behavior. Economics is a uniquely human endeavor.

High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced.

The economic world, like the physical world, has its laws. We may misunderstand them, but we cannot escape them. Sometimes they act with us, sometimes against us. They please us, but they never consider us. It is for us to consider them.

Supply and demand don’t work on a legislative schedule.

The whole action of the laws tended to increase the number of consumers of food and to diminish the number of producers, was due the invention of the Malthusian theory of population.

The laws of the marketplace are physical laws, and they don't become suspended in a crisis any more than the law of gravity does.