“It would be, however, a fatal mistake to establish an expensive system of education on the model of the advanced countries which would have little relevance to local needs and would be beyond the means of the national economy. It is necessary to evolve a system, through experimentation and trial and success, which would be within the means of the national economy.”

Quote, Prasanta Chandra Mahalanobis in Vigyanprasar

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Prasanta Chandra Mahalanobis16

Indian scientist 1893–1972

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“I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals. In such an economy, the means of production are owned by society itself and are utilized in a planned fashion. A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child. The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow men in place of the glorification of power and success in our present society. Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?”

Albert Einstein (1879–1955) German-born physicist and founder of the theory of relativity

1940s, Why Socialism? (1949)

“Nations and regions within nations must be left free — and should be encouraged — to develop the local food economies that best suit local needs and local conditions.”

Wendell Berry (1934) author

"A Bad Big Idea".
Sex, Economy, Freedom & Community (1993)
Context: Anybody interested in solving, rather than profiting from, the problems of food production and distribution will see that in the long run the safest food supply is a local food supply, not a supply that is dependent on a global economy. Nations and regions within nations must be left free — and should be encouraged — to develop the local food economies that best suit local needs and local conditions.

“There is today hardly any country in the world outside the communist bloc which does not have a mixed economy. In fact, even countries which call themselves socialist would object to theirs not being described as a mixed economy, for it would imply that it was a totalitarian one, while countries like Germany or Japan, usually thought of as having typically free enterprise economies, would do the same; for, otherwise, it would imply that theirs was a nineteenth century laissez-faire economy.”

J. R. D. Tata (1904–1993) Indian businessman

Address on 'Why a Mixed Economy?' to the Associated Chambers of Commerce and Industry of India, New Delhi, April 4, 1975.
Keynote: Excerpts from his speeches and chairman's statements to shareholders

“Be glad that you're greedy; the national economy would collapse if you weren't.”

Mignon McLaughlin (1913–1983) American journalist

The Complete Neurotic's Notebook (1981), Unclassified

“[The goal of efficiency was] a system in which all relevant information would be available to each research worker in an amplitude proportional to its degree of relevance.”

John Desmond Bernal (1901–1971) British scientist

Source: The Social Function of Science (1939), p. 249

“In my opinion the Government can do more to remedy the economic ills of the people by a system of rigid economy in public expenditure than can be accomplished through any other action. The costs of our national and local governments combined now stand at a sum close to $100 for each inhabitant of the land. A little less than one-third of this is represented by national expenditure, and a little more than two-thirds by local expenditure. It is an ominous fact that only the National Government is reducing its debt. Others are increasing theirs at about $1,000,000,000 each year. The depression that overtook business, the disaster experienced in agriculture, the lack of employment and the terrific shrinkage in all values which our country experienced in a most acute form in 1920, resulted in no small measure from the prohibitive taxes which were then levied on all productive effort. The establishment of a system of drastic economy in public expenditure, which has enabled us to pay off about one-fifth of the national debt since 1919, and almost cut in two the national tax burden since 1921, has been one of the main causes in reestablishing a prosperity which has come to include within its benefits almost every one of our inhabitants. Economy reaches everywhere. It carries a blessing to everybody.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

“The international monetary system is the glue that binds national economies together.”

Barry Eichengreen Introduction

Source: Globalizing Capital (2008), Chapter 1. Introduction

“Anybody interested in solving, rather than profiting from, the problems of food production and distribution will see that in the long run the safest food supply is a local food supply, not a supply that is dependent on a global economy. Nations and regions within nations must be left free — and should be encouraged — to develop the local food economies that best suit local needs and local conditions.”

Wendell Berry (1934) author

"A Bad Big Idea"
Sex, Economy, Freedom & Community (1993)

“In the first place, economic theory provides a comparatively detailed specification of the demand relationships for individual consumers' goods, but is by no means so specific about the system into which these relationships fit. It would be possible to close the system in very many ways, and the precise way selected would influence the regression estimates in a model involving simultaneous equations.”

Richard Stone (1913–1991) British economist, Nobel Memorial Prize winner

Source: Studies in the National Income and Expenditure of the United Kingdom, 1954, p. 295; as cited in: John Chipman (2013) Advanced Econometric Theory, p. 275

“The interface between an industrial economy and the biosphere is what the industrial nation state can’t handle. So the new culture isn't based on nation state turf; it's based on biological, ecological processes, so the atmosphere is more the model than the land. And the science that would describe the processes of the atmosphere are more the new complex dynamical sciences, chaotic systems of clouds, rather than the clods.”

William Irwin Thompson (1938) American writer

Interview with Thompson in Life, Lindisfarne, and Everything, from Alexandria 4: The Order and Beauty of Nature edited by David Fideler (1997).

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Prasanta Chandra Mahalanobis16

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