Novosibirsk, Russia



Language: RussianStudies in Russian
Subject area: economy and administration
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Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Give not Saint Peter so much, to leave Saint Paul nothing.
George Herbert, Jacula Prudentum (1651). Reported in Hoyt's New Cyclopedia Of Practical Quotations (1922), p. 216.
Economics is not simply a topic on which to express opinions or vent emotions. It is a systematic study of what happens when you do specific things in specific ways. In economic analysis, the methods used by a Marxist economist like Oskar Lange did not differ in any fundamental way from the methods used by a conservative economist like Milton Friedman.
Thomas Sowell, Ch. 1 What is Economics? in Basic Economics
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald Coase, The firm, the market and the law (1988) Chapter 6. A remark on "The problem of social cost" (last sentence).
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