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One should hardly have to tell academicians that information is a valuable resource: knowledge is power. And yet this occupies a slum dwelling in the town of economics. Mostly it is ignored.

— George Stigler

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More quotes by George Stigler

Regulation may be actively sought by an industry, or it may be thrust upon it.

Unexpected changes, on the contrary, lead to windfall gains or losses for those who are in the right or wrong places at a given time.

The Theory of Price (1946)

Economics, I thus believe, has a useful past, a past that is useful in dealing with the future.

Footnotes are not an occasional token of respect for an obsolete and purposeless tradition. It will come as a shock to many, I am sure, even to realize that references can be checked.

The Intellectual and the Marketplace (1965)

The essence of scientific progress is to edge up this ladder from ignorance to knowledge, and it is complicated by the fact that the ladder keeps getting longer!

The Theory of Price (1946)

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We must do away with the absolutely specious notion that everybody has to earn a living.

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Economics is on the side of humanity now.

Isaac Asimov Empire novels (1950)

Since the state must necessarily provide subsistence for the criminal poor while undergoing punishment, not to do the same for the poor who have not offended is to give a premium on crime.

John Stuart Mill Principles of Political Economy (1848)

Economy, in the estimation of common minds, often means the absence of all taste and comfort.

Sydney Smith Lady Holland's Memoir (1855)

Attribution

Quote text and notes from Wikiquote: George Stigler (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.