The third rule of life is this: Everything you buy today is smaller, more expensive, and not as good as it was yesterday.
A simple way to forecast the future is to look at what rich people have today; middle-income people will have something equivalent in 10 years, and poor people will have something equivalent in an additional decade.
I believe business news is general news.
Economists must always be prepared for surprises: they find many in trying to find order in the universe of their study.
Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).
In economics, it is easier to agree on the data than to agree on causality.
People are looking around. They are looking to do something with their time and money. The question is, what?
Economics has become as riveting as politics.
If economists were doctors, they would today be mired in malpractice suits.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
I'm a better economist than I was a sax player.
Australians have defied global economic gravity.
An economist is someone who knows all the answers to last years' questions.
An economist is a man who states the obvious in terms of the incomprehensible.
Growth will be slower, no one denies that. But the question is: Where are the chances and opportunities now? I see some positive and some negative trends.
All economic movements, by their very nature, are motivated by crowd psychology.
Becoming an economist was not a childhood dream of mine.
In economics, you always want to ask 'And then what?'
This paper was one of my digressions into abstract economics.
Back in the days when the market was a kind of secular god and all the world thrilled to behold the amazing powers of private capital, the idea of privatizing highways and airports and other bits of our transportation infrastructure made a certain kind of sense.
If you're an economist and you're asked to predict what something is going to be like 50 years from now? It's going to be guesswork.
Wages tend to an equality in the same neighborhood and the same occupation.
...by regularly reading business newspaper and magazines I am exposed to an enormous amount of material at the micro level.. I find that what I see going on there pretty much informs me about what's happening at the macro level.
We might describe our world as having retail sanity, but wholesale madness.
CNBC is a very serious-minded financial news network, and what we've seen thus far from Fox appears to be not as investment-focused or financially focused, and that's good for us.
