Science Quotes

"Economic rent arises when supply is restricted relative to demand."

"The demand for labor depends on the demand for goods."

"The rhythm of economic activity creates cycles of expansion and contraction."

"Economic theory explains the patterns of human behavior and choice."

"Industrial production can only expand with adequate supply of raw materials."

"The demand for money reflects the need to facilitate exchange."

"The study of economics does not seem to require any heroic quality."

"Mathematics is the language in which the laws of nature are written."

"Economic laws are like the laws of thermodynamics—inexorable."

"Science progresses through the correction of errors."

"Science reveals the how; philosophy reveals the why."

"The engineer's knowledge becomes weaponized when placed in the hands of profit seekers."

"The scientist's integrity cannot coexist with institutional demands for profitable outcomes."

"The engineer could solve most material problems if freed from financial constraints."

"Deep learning has been revolutionary in computer vision."

"Neural networks are inspired by biology."

"Empirical results matter more than intuition."

"Understand the problem before solving it."

"Test your hypotheses."

"The quantity theory of money is not a mere tautology but a profound economic truth."

"Statistics without theory is mere gossip; theory without statistics is mere speculation."

"The price system is the nervous system of economic activity."

"The distinction between income and capital is the foundation of sound economics."

"Markets are impersonal mechanisms for coordinating human desires and resources."

"The velocity of money is the heartbeat of economic vitality."

"The banking system is the circulatory system of modern civilization."

"The economist studies not money but the behavior of men regarding scarce resources."

"Population, when unchecked, increases in a geometrical ratio; subsistence in an arithmetical ratio."

"The principle of population is as inexorable as any law of nature."

"All the forces of nature are less powerful than the principle of population."