“In a nutshell, poor education, a poor culture (one that impedes people from operating effectively together), poor infrastructure, and too much debt cause bad economic results. The best results come when there is more rather than less of: a) equal opportunity in education and in work, b) good family or family-like upbringing through the high school years, c) civilized behavior within a system that most people believe is fair, and d) free and well-regulated markets for goods, services, labor, and capital that provide incentives, savings, and financing opportunities to most people.”

— Ray Dalio

[Economic Principles – Why and How Capitalism Needs to be Reformed, April 5, 2019, lejourdapres.parlement-ouvert.fr, https://lejourdapres.parlement-ouvert.fr/uploads/decidim/attachment/file/308/Economic_Principles_-_Why_and_How_Capitalism_Needs_To_Be_Reformed.pdf] (quote from p. 5 of 42)

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Ray Dalio 6

American businessman 1949

Melissa Farley (1942) American psychologist

Prostitution, Trafficking, and Cultural Amnesia (2006)
Context: Sexist and racist economic policies in the United States such as a lack of educational opportunity for poor families and a lack of sustainable income from many jobs contribute to women’s and girls’ entry into prostitution. The economic and legal vulnerability of undocumented immigrant women in the United States is exploited in prostitution/pornography.

““That’s all very well — they’re not educated, poor creatures.”
“No, and a good thing too. Education has devitalised the white races. Look at America — goes in for an orgy of culture. Simply disgusting.””

Agatha Christie book Death on the Nile

Death on the Nile (1937)

“In the past century a myth has grown up that free market capitalism—equality of opportunity as we have interpreted that term—increases such inequalities, that it is a system under which the rich exploit the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.”

Milton Friedman book Free to Choose

Source: Free to Choose (1980), Ch. 5 “Created Equal”, p. 146

“Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.”

Alfred de Zayas (1947) American United Nations official

Interim report of the Independent Expert on the promotion of a democratic and equitable international order, Alfred Maurice de Zayas http://www.ohchr.org/Documents/Issues/IntOrder/A.67.277_en.pdf.
2012

“Management has a design and operation function, as does engineering. The design is usually done under the heading of organization. It should be noted first that the performance of a group of people is a strong function of the capabilities of the individuals and a rather weak function of the way they are organized. That is, good people do a fairly good job under almost any organization and a somewhat better one when the organization is good. Poor talent does a poor job with a bad organization, but it is still a poor job no matter what the organization. Repeated reorganizations are noted in groups of individuals poorly suited to their function, though no amount of good organization will give good performance. The best architectural design fails with poor bricks and mortar. But the payoff from good organization with good people is worthwhile.”

Robert E. Machol (1917–1998) American systems engineer

Source: System Engineering (1957), p. 514; As cited in: Joseph E. Kasser (2010) " Seven systems engineering myths and the corresponding realities http://www.synergio.nl/media/59286/7_myths_of_se.pdf"

“The family image, the family tradition, was that my parents were poor immigrants into East London, and that they thought that education was vitally important. But they both left school at fourteen, and so I grew up with the idea that, but for the opportunity, my parents would have been educated. That they were giving me this opportunity, and by golly, I better take advantage of it.”

Michael Marmot (1945) Professor of Epidemiology and Public Health

Interview, 18 March 2002

“Most people in the world are poor. If we knew the economy of being poor, we would know much of the economics that really matter. Most of the world's poor people earn their living in agriculture. If we knew the economics of agriculture, we would know much of the economic of being poor.”

Theodore Schultz (1902–1998) American economist

"The Economics of Being Poor," (1979)

“The myth that poverty causes terrorism. In reality, study after study has shown that jihadists are not poor and bereft of economic opportunities, but generally wealthier and better educated than their peers.”

Robert Spencer (1962) American author and blogger

Jihad Watch - Islamic State on recruitment spree in Russia, “moderate” imams can’t counter the jihadis’ appeal http://www.jihadwatch.org/2015/10/islamic-state-on-recruitment-spree-in-russia-moderate-imams-cant-counter-the-jihadis-appeal (29 October 2015)
Context: The myth that poverty causes terrorism. In reality, study after study has shown that jihadists are not poor and bereft of economic opportunities, but generally wealthier and better educated than their peers. CNS noted that “according to a Rand Corporation report on counterterrorism, prepared for the Office of the Secretary of Defense in 2009, ‘Terrorists are not particularly impoverished, uneducated, or afflicted by mental disease. Demographically, their most important characteristic is normalcy (within their environment). Terrorist leaders actually tend to come from relatively privileged backgrounds.’ One of the authors of the RAND report, Darcy Noricks, also found that according to a number of academic studies, ‘Terrorists turn out to be more rather than less educated than the general population.’”

“Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working.”

Joseph E. Stiglitz (1943) American economist and professor, born 1943.

Economics (1993).

“Today, we say to our young people that we want you to get the best education that you can, regardless of the income of your family. Good jobs require a good education. That is why we are going to make public colleges and universities tuition free, and cancel all student debt…”

Bernie Sanders (1941) American politician, senator for Vermont

College for All and Cancel All Student Debt https://berniesanders.com/issues/college-for-all/ (June 2019)
2010s, 2019, June 2019

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