“We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income.”

—  Kalle Lasn

And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped.
Hey President Obama http://www.adbusters.org/magazine/82/obama_economics.html/. Adbusters (March 24, 2009).

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Estonian-Canadian film maker, author, magazine editor and a… 1942

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Kalle Lasn photo

“We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income. And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped.”

Kalle Lasn (1942) Estonian-Canadian film maker, author, magazine editor and activist

Hey President Obama http://www.adbusters.org/magazine/82/obama_economics.html/. Adbusters (March 24, 2009).

Simon Kuznets photo

“The central theme of this paper is the character and causes of long-term changes in the personal distribution of income. Does inequality in the distribution of income increase or decrease in the course of a country's economic growth? What factors determine the secular level and trends of income inequalities?”

Simon Kuznets (1901–1985) economist

Source: "Economic growth and income inequality," 1955, p. 1

Walt Whitman photo

“Love the earth and sun and animals,
Despise riches, give alms to everyone that asks,
Stand up for the stupid and crazy,
Devote your income and labor to others…
And your very flesh shall be a great poem.”

Walt Whitman (1819–1892) American poet, essayist and journalist

From the Preface to the 1855 edition of <i>Leaves of Grass</i>
Context: This is what you shall do: Love the earth and sun and the animals, despise riches, give alms to every one that asks, stand up for the stupid and crazy, devote your income and labor to others, hate tyrants, argue not concerning God, have patience and indulgence toward the people, take off your hat to nothing known or unknown or to any man or number of men, go freely with powerful uneducated persons and with the young and with the mothers of families, read these leaves in the open air every season of every year of your life, re examine all you have been told at school or church or in any book, dismiss whatever insults your own soul, and your very flesh shall be a great poem and have the richest fluency not only in its words but in the silent lines of its lips and face and between the lashes of your eyes and in every motion and joint of your body. . . .
Context: This is what you shall do: Love the earth and sun and the animals, despise riches, give alms to every one that asks, stand up for the stupid and crazy, devote your income and labor to others, hate tyrants, argue not concerning God, have patience and indulgence toward the people, take off your hat to nothing known or unknown or to any man or number of men, go freely with powerful uneducated persons and with the young and with the mothers of families, read these leaves in the open air every season of every year of your life, re examine all you have been told at school or church or in any book, dismiss whatever insults your own soul, and your very flesh shall be a great poem and have the richest fluency not only in its words but in the silent lines of its lips and face and between the lashes of your eyes and in every motion and joint of your body.... The poet shall not spend his time in unneeded work. He shall know that the ground is always ready ploughed and manured.... others may not know it but he shall. He shall go directly to the creation. His trust shall master the trust of everything he touches.... and shall master all attachment.

“A firm may be defined as an institution which buys things, transforms them in some way, and then sells them with the purpose of making a profit. The things a firm buys we shall call "inputs." The things it sells we shall call "outputs." The process whereby the things it buys are transformed into the things it sells we shall call the "process of production." In any process of buying to sell again a process of production is always involved…
A business, therefore, is a process whereby certain inputs, valued in dollars in some way, are transformed into outputs, also valued in dollars in some way.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, Economic Analysis, 1941, p. 377

“If it makes sense to transfer income from rich to poor people within a generation, why shouldn't we transfer income from rich to poor generations?”

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 18, Deficit Finance, p. 435

The Notorious B.I.G. photo

“I only got beef with those that violate me; I shall annihilate thee.”

The Notorious B.I.G. (1972–1997) American rapper

Song lyrics, Life After Death (1997), "Going Back to Cali"

“The even larger difference between rich and poor makes the latter even worse off, and this violates the principle of mutual advantage.”

John Rawls book A Theory of Justice

Source: A Theory of Justice (1971; 1975; 1999), Chapter II, Section 13, pg. 79

Kim Stanley Robinson photo

“Continuous expansion is a fundamental tenet of economics. Therefore one of the fundamentals of the universe itself. Because everything is economics. Physics is cosmic economics, biology is cellular economics, the humanities are social economics, psychology is mental economics, and so on.”

Kim Stanley Robinson book Green Mars

His listeners nodded unhappily.
“So everything is expanding. But it can’t happen in contradiction to the law of conservation of matter-energy. No matter how efficient your throughput is, you can’t get an output larger than the input.”
Source: Green Mars (1993), Chapter 2, “The Ambassador” (pp. 76-77)

Thomas Piketty photo

“I can now present the first fundamental law of capitalism, which links the capital stock to the flow of income from capital. The capital/income ratio β is related in a simple way to the share of income from capital in national income, denoted α. The formula is
α = r × β
Where r is the rate of return on capital.
For example, if β=600% and r = 5%, then α = r × β = 30%.
In other words, if national wealth represents the equivalent of six years of national income, and the rate of return on capital is 5 percent per year, then capital’s share in national income is 30 percent.”

Thomas Piketty book Capital in the Twenty-First Century

Source: Capital in the Twenty-First Century (2013), p. 52.

“As time goes on, those who think that they live in democracies will live at best, in oligarchy or at worst under fascist regimes. In medieval times, people thought they were badly off when they paid tithes; a tenth of their income or produce to the feudal land lord. In this respect, they were better off than we are nowadays. Today more than one third of DM or dollar goes to service capital. Those who gain most are the super rich, multinationals, big insurance companies and banks.”

Margrit Kennedy (1939–2013) German architect

Source: Interest and Inflation Free Money (1995), Chapter Three, Who Would Profit From a New Monetary System?, p. 67

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