Charles Wheelan Quotes

Enjoy the top 46 famous quotes, sayings and quotations by Charles Wheelan.

Charles Wheelan Quotes

Making money takes time, so when we shop, were really spending time. The real cost of living isnt measured in dollars and cents but in the hours and minutes we must work to live.1
— Charles Wheelan —

Economic development is not a zero-sum game; the world does not need poor countries in order to have rich countries, nor must some people be poor in order for others to be rich. Families who live in public housing on the South Side of Chicago are not poor because Bill Gates lives in a big house. They are poor despite the fact that Bill Gates lives in a big house. For a complex array of reasons, America's poor have not shared in the productivity gains spawned by Microsoft Windows. Bill Gates did not take their pie away; he did not stand in the way of their success or benefit from their misfortunes.

— Charles Wheelan

(As a rule of thumb, the sample size must be at least 30 for the central limit theorem to hold true.) This

— Charles Wheelan

According to the American Lung Association, the average smoker dies seven years earlier than the average nonsmoker, which means that smokers pay into Social Security and private pension funds for all of their working lives but then don't stick around very long to collect the benefits.

— Charles Wheelan

The [Value at Risk model] was like a faulty speedometer, which is arguably worse than no speedometer at all. If you place too much faith in the broken speedometer, you will be oblivious to other signs that your speed is unsafe. In contrast, if there is no speedometer at all, you have no choice but to look around for clues as to how fast you are really going.

— Charles Wheelan

Descriptive statistics exist to simplify, which always implies some loss of nuance or detail.

— Charles Wheelan

It's easy to lie with statistics, but it's hard to tell the truth without them.

— Charles Wheelan

Change is inevitable; but progress depends on what we do with that change.

— Charles Wheelan

The real cost of something is what you must give up in order to get it, which is almost always more than just cash.

— Charles Wheelan

We've built a society that values civil liberties even at the expense of social order.

— Charles Wheelan

I once interviewed Robert Solow, winner of the 1987 Nobel Prize in Economics and a noted baseball enthusiast. I asked if it bothered him that he received less money for winning the Nobel Prize than Roger Clemens, who was pitching for the Red Sox at the time, earned in a single season. "No," Solow said. "There are a lot of good economists, but there is only one Roger Clemens." That is how economists think.

— Charles Wheelan

The authors propose "a New Deal for globalization-one thatlinks engagement with the world economy to a substantial redistribution of income." Remember, this isn't hippy talk. These are the capitalists who see angry workers with pitchforks loitering outside the gates of a very profitable factory, and they are making a very pragmatic calculation: Throw these people some food (and maybe some movie tickets and beer) before we all end up worse off

— Charles Wheelan

Why did the entrepreneur cross the road? Because he could make more money on the other side.

— Charles Wheelan

Two percent who care deeply about something are a more potent political force than the 98 percent who feel the opposite but aren't motivated enough to do anything about it.

— Charles Wheelan

Maybe it's a stretch to blame a broader social pathology on hyper-competitive soccer parents. Still, there is not a huge downside to asking every once in a while, Why am I doing this? We will know for certain that my analysis is wrong when we see the following obituary: Bob Smith died yesterday at the age of 74. He finished life in 186th place.

— Charles Wheelan

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