“Economics is just like managing your household.”

— Margaret Thatcher

Source: movie The Iron Lady

Last update July 28, 2023. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Economics is just like managing your household." by Margaret Thatcher?

Margaret Thatcher348

British stateswoman and politician 1925–2013

Related quotes

“Economics is the study of how society manages its scarce resources. In most societies, resources are allocated not by an all-powerful dictator but through the combined actions of millions of households and firms.”

N. Gregory Mankiw (1958) American economist

Source: Principles of Economics (1998-), Ch. 1. Ten Principles of Economics; p. 4

“A good household manager, but not fit to meddle in the affairs of kings.”

Thomas Cromwell, 1st Earl of Essex (1485–1540) English statesman and chief minister to King Henry VIII of England

Henry VIII to the French ambassador, May 1538.
About

“In May 1961 when I took over power as the leader of the revolutionary group, I honestly felt as if I had been given a pilfered household or bankrupt firm to manage. Around me I could find little hope of encouragement. The outlook was bleak. But I had to rise above this pessimism to rehabilitate the household. I had to destroy, once and for all, the vicious circle of poverty and economic stagnation. Only by reforming the economic structure would we lay a foundation for decent living standards.”

Park Chung-hee (1917–1979) Korean Army general and the leader of South Korea from 1961 to 1979

As quoted in An economy in armor; in Korea's quiet revolution https://books.google.com/books?id=yJZKpYXh2SAC&printsec=frontcover&dq=the+two+koreas&hl=en&sa=X&ei=4QMiVa7UCsu3sAWQxoAg&ved=0CB0Q6AEwAA#v=onepage&q=the%20two%20koreas&f=false (1992), by Frank B. Gibney, New York: Walker and Company, p. 50

“Our goal is to build a broad-based model of key components of the economy: households, firms, banks and government… The failure to embrace things like simulation has inhibited progress in economics.”

J. Doyne Farmer (1952) American physicist and entrepreneur (b.1952)

As quoted by Stephen Foley, " Physicists and the financial markets http://www.ft.com/intl/cms/s/2/8461f5e6-35f5-11e3-952b-00144feab7de.html#axzz2j7a3dBoP" Financial Times Magazine (Oct18, 2013) ref: the CRISIS Project http://www.crisis-economics.eu/.

“Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. … In developed capitalist economies, private consumption spending accounts for half or more of GDP.”

Jim Stanford (1961) Canadian economist

Part 2, Chapter 9, Reproduction (for Economists), p. 114 (Case as per text.)
Economics For Everyone (2008)

“As you manage your money, you manage your life.”

Dan Millman (1946) American self help writer

“The circular-flow diagram offers a simple way of organizing the economic transactions that occur between households and firms in the economy. The two loops of the circular-flow diagram are distinct but related. The inner loop represents the flows of inputs and outputs. The households sell the use of their labor, land, and capital to the firms in the markets for the factors of production. The firms then use these factors to produce goods and services, which in turn are sold to households in the markets for goods…”

N. Gregory Mankiw (1958) American economist

N. Gregory Mankiw, Brief Principles of Macroeconomics. 2011, p. 24-25
2000s -

“I was raised in a Republican household during the glory days of "I like Ike!””

John Danforth (1936) American politician

I am currently an independent voter who votes on the integrity of the individual and the facts surrounding the issues. I have read the Mueller Report, and recently listened to the televised Congressional Mueller hearings, and listened to analysis by both CNN and Fox. As a citizen, I have come to the conclusion that President Trump attempted to obstruct Mueller’s investigation in multiple ways.
The OLC opinion blocked Mueller from indicting a sitting president, but he stated that an ordinary citizen facing these charges would face a criminal indictment.
It’s up to us to decide and act on Trump (2019)

“There’s nothing on it worthwhile, and we’re not going to watch it in this household, and I don’t want it in your intellectual diet.”

Philo Farnsworth (1906–1971) American inventor

to his son, on television <br class="br">The Boy Who Invented Television and Kent Farnsworth <br class="br"> Official Website of Philo Farnsworth https://www.cmgww.com/historic/farnsworth/

“Must manage your thought life daily and then you can manage your life.”

John C. Maxwell (1947) American author, speaker and pastor

“Economics is just like managing your household.”

Help us to complete the source, original and additional information

Margaret Thatcher348

Related quotes

Related topics