“In recent weeks, we have taken bold steps to prevent a severe disruption of the American economy, which would have a devastating effect on other economies around the world. We've promoted stability in the markets by preventing the disorderly failure of major companies. The Federal Reserve has injected urgently needed liquidity into the system. And last week, I announced a decisive action by the federal government to address the root cause of much of the instability in our financial markets, by purchasing illiquid assets that are weighing down balance sheets and restricting the flow of credit. I can assure you that my administration and our Congress are working together to quickly pass legislation approving this strategy, and I'm confident we will act in the urgent time frame required.”

2000s, 2008, Address to the United Nations General Assembly (September 2008)

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George W. Bush675

43rd President of the United States 1946

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“Federal government administers, oversees, and approves almost every aspect of the dairy checkoff program. These funds are used to promote junk foods, which contribute to the very diseases our federal government is allegedly trying to prevent.”

Michele Simon (1965) public health lawyer

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“As a result of uncertainties caused by the French referendum, massive speculative flows have continued to disrupt the functioning of the exchange rate mechanism. As Chairman of Ecofin I have tonight called an urgent meeting of the EC's monetary committee to consider how stability might be restored to the markets over the next few days.
In the meantime the Government has decided that Britain's best interests would be best secured by suspending our membership of the ERM with immediate effect. As a result, the second of the two interest rate rises announced today will not take effect.”

Norman Lamont (1942) British politician

Larry Elliott, Will Hutton and Julie Wolf, " Pound drops out of ERM http://politics.guardian.co.uk/euro/story/0,,506405,00.html", The Guardian, 17 September 1992. <br class="br">Speech outside the Treasury on 'Black Wednesday' (16 September 1992) announcing the ERM withdrawal.

“We must say openly that the present economic system of the EU is a system of a suppressed market, a system of a permanently strengthening centrally controlled economy. Although history has more than clearly proven that this is a dead end, we find ourselves walking the same path once again. This results in a constant rise in both the extent of government masterminding and constraining of spontaneity of the market processes. In recent months, this trend has been further reinforced by incorrect interpretation of the causes of the present economic and financial crisis, as if it was caused by free market, while in reality it is just the contrary – caused by political manipulation of the market. It is again necessary to point out to the historical experience of our part of Europe and to the lessons we learned from it.”

Václav Klaus (1941) 2nd President of the Czech Republic

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“In fact, the only person to rival Friedman for policy influence in the twentieth century is John Maynard Keynes, who had a strikingly different view of the role of government. Keynes was influential because he advocated more government intervention into what he perceived as poorly functioning private economies caught up in the Great Depression. In contrast to Keynes, Friedman put the main blame for the Depression on government failures, especially of monetary policy. Hence, the Depression did not make Friedman a fan of big government. He also found in the Federal Reserve’s failure to prevent deflation an argument in favor of monetary rules. As the world evolved— with low inflation becoming the major mission of central banks and free markets and secure property rights becoming the main policies to promote economic growth—Friedman surely won the intellectual battle.”

Robert Barro (1944) American classical macroeconomist

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David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 9, Square Versus Oblong, p. 284

“If you want to understand financial markets, and their effects on the economy, you have to understand the trading game. Many short-term price movements are neither random nor caused by economic fundamentals. They're caused by investors buying and selling.”

Aaron C. Brown (1956) American financial analyst

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George W. Bush (1946) 43rd President of the United States

2000s, 2008, Address to the United Nations General Assembly (September 2008)

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Karl Polanyi book The Great Transformation

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“The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank.”

Robert Fogel (1926–2013) American economist, historian

Robert Fogel, in: " Transcript from an interview with Professor Robert W. Fogel, 2004 http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1993/fogel-interview-transcript.html" at nobelprize.org.

“America is now a socialist economy. The definition of a socialist economy is when 50% or more of your economy is dependent on the federal government.”

Christine O'Donnell (1969) American Tea Party politician and former Republican Party candidate

campaign speech, December 6, 2009
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YouTube
2009-12-06
http://www.youtube.com/watch?v=gFisw16di3w
2010-10-20
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