It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
The world expects India to be one of the leaders in solving the problems of politics and economics. India sits at the high table in most major multilateral deliberations. What India says is heard with attention and seriousness.
A lot of my colleagues have been people with broad interests in economics, not just narrowly focused interests.
I started off thinking that maybe the social sciences ought to have the kinds of mathematics that the natural sciences had. That works a little bit in economics because they talk about costs, prices and quantities of goods.
The anti-New Deal line is wrong as a matter of economics. F.D.R.'s spending programs did help the economy and created millions of new jobs.
As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.
In my book, 'The Big Three in Economics,' I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists.
One of the most important things liberals don't understand about conservatism, obscured by too much lazy talk about conservatism's various 'wings,' is that its tenets form a relatively organic base for its adherents, where 'traditional morality' serves the interests of laissez-faire economics and vice-versa.
The most powerful argument of all for saving open space is economics; in most states, tourism is the number two industry.
I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
My mother is an office manager, my father a professor of economics and financial planner.
Plays are getting smaller and smaller, not because playwrights minds are shrinking but because of the economics.
Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?
I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.
President Reagan preached 'trickle down economics' but naively did not reckon on the fact that the wealthy would only care about getting more for themselves instead of caring about helping those with less.
Everybody feels better about himself, his community, and his country if employers are paying workers well. Economics, though, teaches that if every employer is pressured to raise wages, some labor will be priced out of the market.
We shouldn't measure everything in terms of GDP figures or economics. There is something called quality of life.
I studied economics and made it my career for two reasons. The subject was and is intellectually fascinating and challenging, particularly to someone with taste and talent for theoretical reasoning and quantitative analysis.
As the Wall Street Journal called our economic plan, supply-side economics for the working man, is resonating in Minnesota and here in Missouri and across this country.
