Thursday, April 29, 2010

Nobel Sayings

The University of Chicago has one of the best economics departments in the world. Their school of business is right there too. Their Gleacher Center in downtown Chicago has a nice lounge and a bunch of quotes from the Nobel Laureates who taught at Chicago. It is really interetsing.

The main purpose of economics is to understand and help alleviate poverty, and there is an intimate and transparent relation between investments in human capital and the alleviation of poverty.
Gary S. Becker

Mathematics has no symbols for confused ideas.
George J. Stigler

If you torture the data long enough, nature will confess.
Ronald H. Coase

When I first discovered options, I became very excited about the possibility that there was a contract that enabled you to only be able to take the upside of the return and not the downside. And that being able to take the upside only had value-and that was really exciting.
Myron S. Scholes

When one contemplates the powerful impact of sustained economic growth on human welfare, it is hard to think about anything else.
Robert E. Lucas Jr.

By investing in themselves, people can enlarge the range of choices available to them. It is one way free men can enhance their welfare.
Theodore W. Schultz

The government solution to a problem is usually as bad as the problem.
Milton Friedman.

It is a rare public policy that promotes fairness and social justice and, at the same time, promotes productivity in the economy.
James J. Heckman

One cannot understand current political and ethical trends, or properly forecast future economic developments, without understanding the cycles in religious feelings in American history and the social, economic and political movements that they have generated.
Robert W. Fogel

What counts is what you do with your money, not where it came from.
Merton H. Miller

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