Rupert Murdoch: Good Economists

Rupert Murdoch Money Quote saying those who study economy and finance are less useful than weather forecasters. Rupert Murdoch said:
 

 

“I’m not an economist and we all know economists were created to make weather forecasters look good” — Rupert Murdoch

In this quote, Rupert Murdoch is making a joke at economists’ expense. He’s suggesting that economists, unlike weather forecasters, are often wrong in their predictions. Murdoch implies that economists don’t have a very good track record of accurately forecasting economic trends and outcomes.

His comment seems to be lightheartedly pointing out that economists are not always right and can be fallible in their analyses and projections, just like any other field of study. Overall, the quote appears to be tongue-in-cheek commentary on the imperfect nature and limitations of economics as a predictive science.

Art Buchwald: Economist Love

Art Buchwald Money Quote saying those who are book smart may not actually have real experience to inform their knowledge. Art Buchwald said:
 

 

“An economist is a man who knows a hundred ways of making love but doesn’t know any women” — Art Buchwald

In this humorous quote, Art Buchwald is poking fun at economists. He suggests that while economists may intellectually understand theoretical aspects of relationships (“a hundred ways of making love”), they lack practical real-world experience with actual human connection (“doesn’t know any women”).

Buchwald implies economists are well-versed in abstract romantic notions but do not have meaningful relationships themselves. Overall, the quote lightheartedly questions how applicable economists’ interpersonal theories may be, since according to Buchwald they have not tested such ideas in reality. It appears to be joking that economists’ expertise is more conceptual than grounded.

Birthday: October 22, 1917 – Death: December 15, 2013

Kenneth E. Boulding: Mad Growth Economist

Kenneth E. Boulding Money Quote saying two extremely different personalities both agree on endless economic growth – nut jobs and nutty economic professors. Kenneth E. Boulding said:
 

 

“Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist” — Kenneth E. Boulding

In this quote, Kenneth E. Boulding is criticizing the assumption of endless economic growth within the constraints of our limited planet. He states that anyone who thinks exponential growth can continue indefinitely on Earth is either insane (“a madman”) or an economist.

This implies that economists in particular seem too often to ignore ecological realities by advocating for perpetual quantitative expansion, which is impossible given our finite resources and environmental boundaries.

Boulding appears to be arguing that economists should recognize physical limits to growth and question the validity of models predicting unending increases, since this contradicts Earth’s limited carrying capacity according to scientific understanding.

Birthday: January 18, 1910 – Death: March 18, 1993

A. H. Quiggin: Money to Economist

A.H. Quiggin Money Quote saying ask a finance scholar what is a dollar and hear his written chapter in answer. A.H. Quiggin said:
 

 

“Everyone, except an economist, knows what ‘money’ means, and even an economist can describe it in the course of a chapter or so” — A.H. Quiggin

In this quote, A.H. Quiggin is commenting on how economists and non-economists view the concept of money. He states that everyone except economists has an intuitive understanding of what money is. However, Quiggin notes that even economists, who may overanalyze the definition, can describe what money means in just a chapter or so of writing.

This suggests that while money is a simple everyday concept for most, economists have a tendency to make the definition and meaning of money more complex and abstract than it needs to be. The quote implies economists do understand money but in a more academic and theoretical way, whereas others have a more straightforward practical grasp of the term.

Robert Solow: Curing Children’s Poverty

Robert Solow Money Quotation saying solving childhood poverty is a measure of caring for kids, even if expensive, it’s worth the cost. Robert Solow said:
 

 

“As an economist I believe that good things are worth paying for; and that even if curing children’s poverty were expensive, it would be hard to think of a better use in the world for money. If society cares about children, it should be willing to spend money on them” — Robert Solow

In this quote, Robert Solow is expressing his view as an economist that investing in social goods that help children is worthwhile, even if costly. He argues that “curing children’s poverty” through various programs and initiatives would be extremely valuable, even if expensive. Solow believes this would be among the best uses of monetary resources in the world.

He implies that if a society genuinely cares about the well-being of children, it should be willing to financially support policies and efforts to alleviate poverty among them. Overall, the quote conveys Solow’s economic perspective that investments in children through addressing issues like poverty can greatly benefit society and are worth incurring costs for these humanitarian reasons.

Paul McCracken: Economic Honesty

Paul McCracken Money Quote saying Although he was an economic advisor, he didn’t want to be called an economist because they seemed to have a bit less honesty than he felt necessary. Paul McCracken said:
 

 

“I am not an Economist. I am an honest man!” — Paul McCracken

This quote suggests that Paul McCracken is making a joke about economists. He implies that to be an economist, one cannot also be honest. The humor comes from the stereotype that economists may spin or selectively present information to support a particular viewpoint, while an “honest man” would not do this.

So McCracken is poking fun at the field of economics and economists through self-deprecating humor, pointing out a perceived flaw or limitation of being an economist according to some stereotypes.