Economics is the study of how society manages its scarce resources. In most societies, resources are allocated not by an all-powerful dictator but through the combined actions of millions of households and firms. (Greg Mankiw)

Economics is the study of how society manages its scarce resources. In most societies, resources are allocated not by an all-powerful dictator but through the combined actions of millions of households and firms.

Greg Mankiw

Related topics

dictator economics study

Related quotes

There is a pressing need to integrate the study of international economics with the study of international politics to deepen our comprehension of the forces at work in the world.

Robert Gilpin

For the rational study of the law the blackletter man may be the man of the present, but the man of the future is the man of statistics and the master of economics.

Oliver Wendell Holmes Jr.

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.

James Tobin

Wealth is a form of power in our society. With great power comes great responsibility. If you have too much wealth, ipso facto, you have too much power - therefore you have too much responsibility - and you're a kind of dictator.

Will Self

Therefore, to teach them [women] at least an outline of economics and law is the first requirement after giving them a general education. Figuratively speaking, it will be like providing the women of civilized society with a pocket dagger for self-protection.

Fukuzawa Yukichi