Skip to content

Economics should be under no illusion that central banking will ever become a science.

— Jürg Niehans

Another quote →

Topics

Finance

More quotes by Jürg Niehans

If one could be perfectly certain that everybody always stays within his budget constraint, everybody could be allowed to obtain goods without a specific quid pro quo.

Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account.

There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising to dominance just to be deposed in a crisis by another school. According to this view, paraphrasing Marx, all history of economics is a history of school struggles, punctuated by revolutions.

All Jürg Niehans quotes →

You may also like

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

Buckminster Fuller

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: Jürg Niehans (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.