<p>Assuming you're not refering to the book Proverbs in the bible, it really depends on the language and culture. Although some proverbs are shared between languages and cultures, others are very distinct. </p>

<p>That being said a well-known one is: </p>

<p><em>Do not throw good money after bad.</em></p>

<p>indicating the (perhaps not so) common sense of not considering sunk costs in your decisions. </p>

<p>The all-time economic favourite is probably:</p>

<p><em>There is no such thing as a free lunch.</em></p>

CC BY-SA 4.0
2018-08-27T15:05:45.387Z
"a penny saved is a penny earned" may not come from economics but it applies to it.
mark leeds
CC BY-SA 4.0
2018-08-27T14:12:08.060Z
2018-08-27T14:12:08.060Z
Maarten Punt
<p>May I ask what other proverbs reflect the common sense of economics, such as those who dig for gold are not  better than those who sell shovels?</p>

<p>What I'm talking about is that during the Gold Rush in the United States, a lot of people went to California to get their gold, but the gold diggers didn't make as much money as the people who bought shovels next to them, so the gold diggers were not as good as the ones who sold the shovels.</p>

CC BY-SA 4.0
2018-08-27T09:47:18.930Z
Is "those who dig for gold are not better than those who sell shovels" an actual proverb? I have never heard it before and it does not seem to appear in this form (in quotes) in a Google search.
Giskard
CC BY-SA 4.0
2018-08-27T12:25:24.743Z
What does this proverb mean? And is it an economically valid statement? Can we positively say one is no better than another?
erik
CC BY-SA 4.0
2018-08-27T14:31:01.720Z
@erik It probably refers to the American gold rush. There was a huge influx of gold miner colonists, and not that much gold. However sellers of mining equipment flourished.
Giskard
CC BY-SA 4.0
2018-08-27T14:59:57.827Z
@denesp Thanks for the clarification. Surely, unless the number of diggers is very very very very high, even a small proportion of successful prospectors can make the payoff of the diggers’ group much larger than that of the shovel sellers? Just wondering.
erik
CC BY-SA 4.0
2018-08-27T21:50:36.343Z
@erik I have no clue. Also chat is not for long (or not question related) discussions. If you are really interested post a question about it.
Giskard
<macroeconomics><microeconomics><finance>
Common sense of economics as reflected in proverbs
dcydhb
# Common sense of economics as reflected in proverbs

(Asked by: username_0 on 2018-08-27)

May I ask what other proverbs reflect the common sense of economics, such as those who dig for gold are not better than those who sell shovels?

What I'm talking about is that during the Gold Rush in the United States, a lot of people went to California to get their gold, but the gold diggers didn't make as much money as the people who bought shovels next to them, so the gold diggers were not as good as the ones who sold the shovels.

**Tags:** macroeconomics, microeconomics, finance
> **Comments:**
> **username_1**: Is "those who dig for gold are not better than those who sell shovels" an actual proverb? I have never heard it before and it does not seem to appear in this form (in quotes) in a Google search.  
> **username_2**: What does this proverb mean? And is it an economically valid statement? Can we positively say one is no better than another?  
> **username_1**: @erik It probably refers to the American gold rush. There was a huge influx of gold miner colonists, and not that much gold. However sellers of mining equipment flourished.  
> **username_2**: @denesp Thanks for the clarification. Surely, unless the number of diggers is very very very very high, even a small proportion of successful prospectors can make the payoff of the diggers’ group much larger than that of the shovel sellers? Just wondering.  
> **username_1**: @erik I have no clue. Also chat is not for long (or not question related) discussions. If you are really interested post a question about it.  

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## 1 answers

### Answer by username_3 on 2018-08-27. Score: 1

Assuming you're not refering to the book Proverbs in the bible, it really depends on the language and culture. Although some proverbs are shared between languages and cultures, others are very distinct.

That being said a well-known one is:

*Do not throw good money after bad.*

indicating the (perhaps not so) common sense of not considering sunk costs in your decisions.

The all-time economic favourite is probably:

*There is no such thing as a free lunch.*

> **Comments:**
> **username_4**: "a penny saved is a penny earned" may not come from economics but it applies to it.  

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