Economics is the study of the whole system of exchange relationships. Politics is the study of the whole system of coercive or potentially coercive relationships. (James M. Buchanan)

Economics is the study of the whole system of exchange relationships. Politics is the study of the whole system of coercive or potentially coercive relationships.

James M. Buchanan

Related topics

economics politics study

Related quotes

Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study. View quote
John Kenneth Galbraith
Many individuals are doing what they can. But real success can only come if there is a change in our societies and in our economics and in our politics. View quote
David Attenborough
Look at the declining television coverage. Look at the declining voting rate. Economics and economic news is what moves the country now, not politics. View quote
Robert Teeter
It is in the social sphere, in the realm of politics and economics, that the Will to Order becomes really dangerous. View quote
Aldous Huxley
The study a posteriori of the distribution of consciousness shows it to be exactly such as we might expect in an organ added for the sake of steering a nervous system grown too complex to regulate itself. View quote
William James