Knowledge Quotes

"Self-knowledge is the beginning of all improvement."

"Knowledge is power, but only if it is applied wisely."

"Prices are important not because money is dear to us but because they convey information about the relative scarcity of goods."

"Prices perform the function of coordinating the separate actions of different people in the same way that a dancer coordinates the movements of their limbs."

"Money is a mechanism for transmitting information, not a cause of anything."

"Rent control appears to be in almost universal disfavor among economists. I cannot find a single reputable study suggesting that rent control has succeeded."

"Markets are constantly adapting to changes in consumer preferences in ways that government can never do."

"Money has become the language of prices, allowing strangers to cooperate without understanding or trusting each other."

"The laws of economics are not laws of nature but laws of human behavior."

"Markets require a framework of law and order, but then they work best with minimal interference."

"If you want to understand why government programs fail, follow the incentives."

"Markets aren't perfect, but they're better than any alternative that's ever been tried."

"The real causes of depression lie in the mistakes of the credit system."

"The future purchasing power of money must be considered in all contracts."

"Understanding compound interest is essential for long-term wealth building."

"The study of bubbles teaches us about human nature and markets."

"Economic hardship teaches lessons that prosperity never can."

"Knowledge without action is merely the accumulation of facts; wisdom is their purposeful application."

"The path to knowledge is paved with the corpses of cherished assumptions."

"Economics is a science of thinking in terms of models joined to some mathematical likes to get a problem solved."

"A good economist must be part historian, part psychologist, and part mathematician."

"The study of economics without the study of history is like medicine without anatomy."

"The outcome of any serious research can only be to make two questions grow where only one grew before."

"Intellectual activity undertaken in the service of a specific class interest is ideology, not knowledge."

"What is called knowledge is often merely the prejudices of a particular era."

"The trained incapacity of the credentialed expert is often the enemy of practical wisdom."

"Knowledge is the beginning of power, but wisdom is knowing how to use it."

"The pursuit of knowledge is never complete; each answer opens new questions."

"The human mind seeks patterns even where none exist."

"Those who understand systems understand that unintended consequences are always consequences."