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There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.

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We all agree that pessimism is a mark of superior intellect.

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One of the greatest pieces of economic wisdom is to know what you do not know.

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A person buying ordinary products in a supermarket is in touch with his deepest emotions.

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More die in the United States of too much food than of too little

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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

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Economics is extremely useful as a form of employment for economists.

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Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.

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Then the shit hit the fan.

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None of this excuses anyone from mastering the basic ideas and terminology of economics. The intelligent layman must expect also to encounter good eco...more

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That economics has a considerable conceptual apparatus with an appropriate terminology can not be a serious ground for complaint. Economic phenomena, ...more

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Good writing, and this is especially important in a subject such as economics, must also involve the reader in the matter at hand. It is not enough to...more

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The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and s...more

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The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become...more

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Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.