A Quote by Richard Thaler

We all need a lot of humility, and especially about the economy. — © Richard Thaler
We all need a lot of humility, and especially about the economy.
I tend to go with things people need. Obviously with the barbershop, people will need haircuts regardless of the economy. In a down economy, I choose businesses that don't require a lot of start-up cash or a cash injection on a regular basis. They might need some initially, but not often after. Rental of properties is a good business in a down economy as people struggle with mortgages.
There's not a lot you can do about the national economy but there is a lot you can do about your personal economy.
We do need a 'new economy,' but one that is founded on thrift and care, on saving and conserving, not on excess and waste. An economy based on waste is inherently and hopelessly violent, and war is its inevitable by-product. We need a peaceable economy.
It's not just global warming, it's not just a loss of biodiversity, it's not just the pollution of our oceans and the clearing of our rainforests and all these complicated systems, The [11th Hour] movie talks about the world economy, it talks about politics, it talks about personal transformation and environmental consciousness that we need to have in this generation to implement a lot of these changes that need to occur.
I have three treasures which I hold and keep. The first is mercy; the second is economy. The third is daring not to be ahead of others. From mercy comes courage; from economy comes generosity; From humility comes leadership.
Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.
Pride is the switch that turns off priesthood power. Humility is a switch that turns it on . . . . Some suppose that humility is about beating ourselves up. Humility does not mean convincing ourselves that we are worthless, meaningless, or of little value. Nor does it mean denying or withholding the talents God has given us. We don't discover humility by thinking less of ourselves; we discover humility by thinking less about ourselves. It comes as we go about our work with an attitude of serving God and our fellowman.
We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.
If you should ask me what are the ways of God, I would tell you that the first is humility, the second is humility, and the third is humility. Not that there are no other precepts to give, but if humility does not preceed all that we do, our efforts are fruitless.
I believe strongly that we need a finance industry that is good for the economy, and I don't think anybody would argue that during the eight years leading up to the Great Recession, a lot of bets were made [and] risks taken that weren't good for the economy.
A proper community, we should remember also, is a commonwealth: a place, a resource, an economy. It answers the needs, practical as well as social and spiritual, of its members - among them the need to need one another. The answer to the present alignment of political power with wealth is the restoration of the identity of community and economy. (pg. 63, "Racism and the Economy")
Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
There isn't a sense of well-being and optimism about the nation's future, but that hasn't attached itself to the Democrats for some reason. They are not accountable. It certainly hasn't attached itself to Obamacare. That's why Hillary Clinton can run around and talk about the need to improve the economy. She ought to be dead politically on that score right there. She ought not be able to cite the economy at all as a positive. She ought not have any credibility at all on the economy.
Marriage requires the giving and keeping of confidences, the sharing of thoughts and feelings, respect and understanding always, marriage requires humility - the humility to repent, the humility to forgive. Marriage requires flexibility (to give and take) and firmness: not to compromise principles. And a wise and moderate sense of humor. Both need to be pulling together in the same direction.
I begin with humility, I act with humility, I end with humility. Humility leads to clarity. Humility leads to an open mind and a forgiving heart. With an open mind and a forgiving heart, I see every person as superior to me in some way; with every person as my teacher, I grow in wisdom. As I grow in wisdom, humility becomes ever more my guide. I begin with humility, I act with humility, I end with humility.
We have a lot of people that are oppressed. We have a lot of people that aren't treated equally, aren't given equal opportunities. Police brutality is a huge thing that needs to be addressed. There are a lot of issues that need to be talked about, need to be brought to life, and we need to fix those.
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