• "Economics is the study of people in the ordinary business of life." -- Alfred Marshall  (London: Macmillan, 1890)

 

• "Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses." -- Lionel Robbins (London: MacMillan, 1932)

 

• Economics is the "study of how societies use scarce resources to produce valuable commodities and distribute them among different people." -- Paul A. Samuelson (New York: McGraw-Hill, 1948)

 

• "Economics is the only field in which two people can share a Nobel Prize for saying opposing things." Specifically, Myrdal and Hayek shared one. --Roberto Alazar

   

     A chat between two economists!

• --Two economists were walking down the street when they noticed two women yelling across the street at each other from their apartment windows.
• --Of course they will never come to agreement, stated the first economist. 
• --And why is that, inquired his companion.
• --Why, of course, because they are arguing from different premises.