Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.

Nick Hanauer
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More Quotes By Nick Hanauer
  1. People want to think of economics as a natural science, like physics, with the comforting reliability of simple-to-understand theories like F=MA. Unfortunately, it isn't. Economics is a social science, and the so-called theories are really social and moral constructs.
  2. The person earning the federal minimum wage of $7.25 isn't going out to eat at restaurants. They're not taking piano lessons. They're not going to the gym or the yoga studio. They're not sending mom flowers on Mother's day. What good is this person in...
  3. Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.
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