A Quote by Alfred Marshall
Political Economy or Economics is a study of mankind in the ordinary business of life.
Related Quotes
Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.
My Prime Minister regards the economy as our highest priority and forgets that economics and ecology are derived from the same Greek word, oikos, meaning household or domain. Ecology is the study of home, while economics is its management. Ecologists try to define the conditions and principles that enable a species to survive and flourish. Yet in elevating the economy above those principles, we seem to think we are immune to the laws of nature. We have to put the ‘eco’ back into economics.
The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics.
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
To those who say climate change is not caused by human activity or that addressing it will harm the economy, let's encourage them to go to college, too, and to study physics and to study economics, but for the rest of us, let's get to work.
Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
Political Economy, in truth, has never pretended to give advice to mankind with no lights but its own; though people who knew nothing but political economy (and therefore knew it ill) have taken upon themselves to advise, and could only do so by such lights as they had.
Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.
When I was very young, I thought the theatre was a place where higher beings went about their celestial business, as if they knew nothing of ordinary life and its political mysteries.
I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy.
The adjective "political" in "political philosophy" designates not so much the subject matter as a manner of treatment; from this point of view, I say, "political philosophy" means primarily not the philosophic study of politics, but the political, or popular, treatment of philosophy, or the political introduction to philosophy the attempt to lead qualified citizens, or rather their qualified sons, from the political life to the philosophic life.
A problem with school is that you often become what you study. If you study, let say cooking, you become a chef. If you study law, you become an attorney, and a study of auto mechanics makes you mechanics. The mistake in becoming what you study is that, too many people forget to mind their own business. They spend their lives minding someone else's business and making that person rich
There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.
I am practical by nature, and I'd heard that being a writer or an artist is a good way to starve! So I was an economics major at Oklahoma State, and then received an M.S. from Cornell in Agricultural Resource and Managerial Economics. I knew if I wanted to write I would do it on my own, but I knew I wouldn't make myself study economics on my own.
The greatest political storm flutters only a fringe of humanity. But an ordinary man and an ordinary woman and their ordinary children literally alter the destiny of nations.
The study of Indian economics is the study of the spinning wheel.
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