Quotes about economics
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“The green shoots of economic spring are appearing once again.”

Norman Lamont (1942) British politician

Speech at the Conservative Party Conference, 9 October 1991.

“Evangelical Christianity conspires with technical and economic rationalism. In the end, they both require a commitment to “duty” that masks unspeakable violence and injustice.”

Curtis White (1951) American academic

"The spirit of disobedience: an invitation to resistance"

“The 'new theory of money and the cycle' which is spoken of in the opening paragraph is of course Hayek's. It was from Hayek that I began - where I got to will be seen. Even at the end, I was minimising my differences from Hayek. I could do so because, as I have elsewhere explained (Economic Perspectives, p. 141n), I still thought, like Pigou and Robertson, and Hayek, but by that time unlike Keynes, that 'we were talking about fluctuations, which, since they did not result in complete collapse or complete explosion, could not have engendered an expectation of going on forever. Booms could then be considered as times of high prices, slumps as times of low prices - with regard to some norm, which throughout the which throughout the fluctuations would not be changed, or not much changed'.”

John Hicks (1904–1989) British economist

Source: Money, Interest and Wages, (1982), p. 28; on his "Equilibrium and the Cycle" (1933), an influential work on the topics of intertemporal equilibrium, monetary theory, and trade cycle phenomena.

Money, Change, Time

“In 1934, Mussolini reiterated that capitalism, as an economic system, was no longer viable. Fascist economy was to be based not on individual profit but on collective interest.”

A. James Gregor (1929–2019) American political scientist

Source: The Ideology of Fascism: The Rationale of Totalitarianism, (1969), p. 299

“The liberation of our continent means more than overcoming economic, social, and political dependence. It means, in a deeper sense, to see the becoming of mankind as a process of the emancipation of man in history. It is to see man in search of a qualitatively different society in which he will be free from all servitude, in which he will be the artisan of his own destiny.”

Gustavo Gutiérrez (1928) Peruvian theologian

Source: A Theology of Liberation (1971), p. 91

History, Search, Sense, Dependency

“History moves in contradictions. The skeleton of historic existence, the economic structure of society, also develops in contradictions. Forms eternally follow forms. Everything has only a passing being. The dynamic force of life creates the new over and over again — such is the law inherent in reality.”

Nikolai Bukharin (1888–1938) Soviet politician

Imperialism and World Economy (1917), Ch. 15 http://www.marxists.org/archive/bukharin/works/1917/imperial/index.htm

Life, Law, History, Reality

“The economic policies of Mussolini’s Italy and Hitler’s Germany resembled the ‘state socialism’ which Lenin wanted to institute in Soviet Union upon coming to power, under which private enterprise would work for the government—an idea Lenin was force to abandon under the pressure of the ‘Left Communists’.”

Richard Pipes (1923–2018) American historian

Source: Property and Freedom (1999), p. 218

Idea

“Despite its flaws, Peddling Prosperity has much to recommend it. There is no book written for a lay audience that explains the economics profession with more perception or clarity than this one.”

N. Gregory Mankiw (1958) American economist

N. Gregory Mankiw, Review of Peddling Prosperity: Economic Sense and Nonsense in the Age of Diminished Expectations by Paul Krugman, Journal of Economic Literature (Dec., 1995)
1990s

Books

“There is no. man, there is no people, without a God. That God may be a visible idol, carved of wood or stone, to which sacrifice is offered in the forest, in the temple, or in the market-place; or it may be an invisible idol, fashioned in a man's own image and worshipped ardently at his own personal shrine. Somewhere in the universe there is that in which each individual has firm faith, and on which he places steady reliance. The fool who says in his heart "There is no God" really means there is no God but himself. His supreme egotism, his colossal vanity, have placed him at the center of the universe which is thereafter to be measured and dealt with in terms of his personal satisfactions. So it has come to pass that after nearly two thousand years much of the world resembles the Athens of St. Paul's time, in that it is wholly given to idolatry; but in the modern case there are as many idols as idol worshippers, and every such idol worshipper finds his idol in the looking-glass. The time has come once again to repeat and to expound in thunderous tones the noble sermon of St. Paul on Mars Hill, and to declare to these modern idolaters "Whom, therefore, ye ignorantly worship, Him declare I unto you."
There can be no cure for the world's ills and no abatement of the world's discontents until faith and the rule of everlasting principle are again restored and made supreme in the life of men and of nations. These millions of man-made gods, these myriads of personal idols, must be broken up and destroyed, and the heart and mind of man brought back to a comprehension of the real meaning of faith and its place in life. This cannot be done by exhortation or by preaching alone. It must be done also by teaching; careful, systematic, rational teaching, that will show in a simple language which the uninstructed can understand what are the essentials of a permanent and lofty morality, of a stable and just social order, and of a secure and sublime religious faith.
Here we come upon the whole great problem of national education, its successes and its disappointments, its achievements and its problems yet unsolved. Education is not merely instruction far from it. It is the leading of the youth out into a comprehension of his environment, that, comprehending, he may so act and so conduct himself as to leave the world better and happier for his having lived in it. This environment is not by any means a material thing alone. It is material of course, but, in addition, it is intellectual, it is spiritual. The youth who is led to an understanding of nature and of economics and left blind and deaf to the appeals of literature, of art, of morals and of religion, has been shown but a part of that great environment which is his inheritance as a human being. The school and the college do much, but the school and the college cannot do all. Since Protestantism broke up the solidarity of the ecclesiastical organization in the western world, and since democracy made intermingling of state and church impossible, it has been necessary, if religion is to be saved for men, that the family and the church do their vital cooperative part in a national organization of educational effort. The school, the family and the church are three cooperating educational agencies, each of which has its weight of responsibility to bear. If the family be weakened in respect of its moral and spiritual basis, or if the church be neglectful of its obligation to offer systematic, continuous and convincing religious instruction to the young who are within its sphere of influence, there can be no hope for a Christian education or for the powerful perpetuation of the Christian faith in the minds and lives of the next generation and those immediately to follow. We are trustees of a great inheritance. If we abuse or neglect that trust we are responsible before Almighty God for the infinite damage that will be done in the life of individuals and of nations…. Clear thinking will distinguish between men's different associations, and it will be able to render unto Caesar the things which are Caesar's, and to render unto God the things which are God's.”

Nicholas Murray Butler (1862–1947) American philosopher, diplomat, and educator

Making liberal men and women : public criticism of present-day education, the new paganism, the university, politics and religion https://archive.org/stream/makingliberalmen00butluoft/makingliberalmen00butluoft_djvu.txt (1921)

Life, Men, God, People

“An ethic, ecologically, is a limitation on freedom of action in the struggle for existence. An ethic, philosophically, is a differentiation of social from anti-social conduct. These are two definitions of one thing. The thing has its origin in the tendency of interdependent individuals or groups to evolve modes of co-operation. The ecologist calls these symbioses. Politics and economics are advanced symbioses in which the original free-for-all competition has been replaced, in part, by co-operative mechanisms with an ethical content.”

Aldo Leopold book A Sand County Almanac

Source: A Sand County Almanac, 1949, "The Land Ethic", p. 202.

Freedom, Parting

“For starters, the emerging zero marginal cost economy radically changes our notion of the economic process. The old paradigm of owners and workers, and of sellers and consumers, is beginning to break down. Consumers are becoming their own producers, eliminating the distinction. prosumers will increasingly be able to produce, consume, and share their own goods and services with one another on the Collaborative Commons at diminishing marginal costs approaching zero, bringing to the fore new ways of organizing economic life beyond the traditional capitalist market model.”

Jeremy Rifkin (1945) American economist

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

Life, Way, Change

“Given the current financial crisis and the widespread belief that the 21st century will belong to China, is free trade really making global markets more efficient? Is it promoting our values and making America stronger? Or is it simply strengthening our adversaries and creating a world where countries who abuse the system - such as China - are on the road to economic and military dominance? If Mr. Trump’s potential campaign does nothing more than force a real debate on those questions, it will have done a service to both the Republican Party and the country.”

Robert Lighthizer (1947) US Trade Representative

LIGHTHIZER: Donald Trump is no liberal on trade http://www.washingtontimes.com/news/2011/may/9/donald-trump-is-no-liberal-on-trade/ (May 9, 2011)

World, Question, Country

“The disconcerting fact may first be pointed out that if you write badly about good writing, however profound may be your convictions or emphatic your expression of them, your style has a tiresome trick (as a wit once pointed out) of whispering: ‘Don’t listen!’ in your readers’ ears. And it is possible also to suggest that the promulgation of new-fangled aesthetic dogmas in unwieldy sentences may be accounted for—not perhaps unspitefully—by a certain deficiency in aesthetic sensibility; as being due to a lack of that delicate, unreasoned, prompt delight in all the varied and subtle manifestations in which beauty may enchant us.
Or, if the controversy is to be carried further; and if, to place it on a more modern basis, we adopt the materialistic method of interpreting aesthetic phenomena now in fashion, may we not find reason to believe that the antagonism between journalist critics and the fine writers they disapprove of is due in its ultimate analysis to what we may designate as economic causes? Are not the authors who earn their livings by their pens, and those who, by what some regard as a social injustice, have been more or less freed from this necessity—are not these two classes of authors in a sort of natural opposition to each other? He who writes at his leisure, with the desire to master his difficult art, can hardly help envying the profits of money-making authors.”

Logan Pearsall Smith (1865–1946) British American-born writer

criticizing the Cambridge School of criticism, e.g. John Middleton Murry and Herbert Read, “Fine Writing,” pp. 306-307
Reperusals and Recollections (1936)

Money, Beauty, Art, Fashion

“Austerity measures constitute retrogression in human rights, in contravention of articles 2 and 5 of the International Covenant on Economic, Social and Cultural Rights, imposed top-down and never legitimized by popular referendum. Moreover, the “bail-out” of the banking system was undemocratic and inequitable because a “private debt” was rescued through public money, namely, by increasing the public debt, at the expense of social justice. The general feeling of malaise was expressed in the statement that Governments seem to have adopted the elitist view that “banks are too big to fail and bankers too big to jail”, concern being expressed about the dangers of privatization of essential services, including water, and the widespread phenomenon of privatizing profit and socializing cost.”

Alfred de Zayas (1947) American United Nations official

United Nations General Assembly - Promotion of a democratic and equitable international order http://www.ohchr.org/Documents/Issues/IntOrder/A-68-284_en.pdf. 2013

Money, Justice, Feeling, Water

“Question: As a doctor, is it meaningful to you when somebody say that healthcare is a right, or that people have a right to good medical care?
Ron Paul: That's incorrect, because you don't have a right to the fruits of somebody else's labor. You don't have a right to a house, you don't have a right to a job, you don't have a right to medical care. You have a right to your life, you have your right to your liberty, you have a right to keep what your earn. And that's what produces prosperity. So you want equal justice. And this is not hard for me to argue, because if you really are compassionate and you care about people, the freer the society the more prosperous it is, and more likely that you are going to have medical care… When you turn it over to central economic planning, they're bound to make mistake. The bureaucrats and the special interests and the Halliburtons are gonna make the money. Whether it's war, or Katrina, these noncompetitive contracts, the bureaucrats make a lot of money and you end up with inefficiency.”

Ron Paul (1935) American politician and physician

All Things Considered, NPR, July 25, 2007 http://www.npr.org/templates/story/story.php?storyId=12224561 2000s, 2006-2009

Life, Money, War, People

“But please remember, that in 1991 in the w:Sejm [lower chamber of polish parliament] I didn't demand the abolishment of Special Economic Zones. I demanded the creation of a single Special Economic Zone - which would encompass the whole country!”

Janusz Korwin-Mikke (1942) polish politician

Polish: Proszę jednak pamiętać, że ja w 1991 roku w Sejmie nie domagałem się likwidacji SSE. Ja domagałem się utworzenia jednej SSE – obejmującej CAŁY obszar Polski!
Source: blog, 7 April 2010

Country

“Certainly if the fundamental problem of society is that demands are infinite and resources are always limited, politics, not economics is the master science.”

Bernard Crick (1929–2008) British political theorist and democratic socialist

A Footnote To Rally The Academic, p. 164.
In Defence Of Politics (Second Edition) – 1981

Problem, Science

“No tin-hat brigade of goose-stepping vigilantes or bibble-babbling mob of blackguarding and corporation paid scoundrels will prevent the onward march of labor, or divert its purpose to play its natural and rational part in the development of the economic, political and social life of our nation.”

John L. Lewis (1880–1969) American labor leader

Labor and the Nation speech (September 3, 1937)

Life, Nature, Parting

“Ricardo, writing fifty years later than Smith, showed a greater insight into the working of the economic system; but as for the subtlety (whatever demerit there may be in that!) the Scot does not lose by comparison with the Jew.”

Eric Roll, Baron Roll of Ipsden (1907–2005) British economist

Source: A History of Economic Thought (1939), Chapter IV, The Classical System, p. 176

“The economics of Italian Fascism is often ignored or trivialized because so much of it is found in today's world economies.”

L. K. Samuels (1951) American writer

“The Socialist Economics of Italian Fascism,” Library of Economics and Liberty, July 6, 2015 http://www.econlib.org/library/Columns/y2015/Samuelsfascism.html

World

“There is nothing economically unsound in increasing temporarily and artificially the demand for labour during a period of temporary and artificial contraction. There is a plain need of some averaging machinery to regulate and even-up the general course of the labour market. … by every step in that direction you would free thousands of your fellow-countrymen from undeserved agony and ruin.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

The People's Rights [1909] (London: Jonathan Cape, 1970), pp. 133-134
Early career years (1898–1929)

“Conventional economic theory is built is built on the assumption of diminishing returns. Economic actions engender a negative feedback that leads to a predictable equilibrium for prices and market shares. Such feedback tends to stabilize the economy because any major changes will be offset by the very reactions they generate. The high oil prices of the 1970s encouraged energy conservation and increased oil exploration, precipitating a predictable drop in prices by the early 1980s. According to conventional theory, the equilibrium marks the “best” outcome possible under the circumstances: the most efﬁcient use and allocation of resources.”

W. Brian Arthur (1946) American economist

Source: Increasing Returns and Path Dependence in the Economy, (1994), p. 1: Chapter 1. Positive feedback in economics

Change

“It is to the director of workshops and factories that it is suitable to make, by means of geometry and applied mechanics, a special study of all the ways to economize the efforts of workers… For a man to be a director of others, manual work has only a secondary importance; it is his intellectual ability (force intellectuelle) that must put him in the top position, and it is in instruction such as that of the Conservatory of the Arts and Professions, that he must develop it.”

Charles Dupin (1784–1873) French mathematician

Charles Dupin (1826), Geometrie et Mechanique des Arts et Metiers et des Beaux Arts Paris: Bachelier; Cited and translated by John Hoaglund, "Management Before Frederick Taylor," p. 30.; and cited in Wren & Bedeian (2005, 74)

Art, Way, Effort, Study

“By 1910-14, Hobson had drifted far from the arguments of Imperialism: A Study and was now writing of imperialism as a phase in the extension of a benign, global capitalist network and one that would eventually lead to an economic convergence between the developed and underdeveloped worlds, to world peace and eventually to some form of world government.”

Peter Cain (1958) figure skater

Source: J. A. Hobson's Imperialism: A Study: A Centennial Retrospective (2002), p. 3.

World, Peace, Study

“Crime is naught but misdirected energy. So long as every institution of today, economic, political, social, and moral, conspires to misdirect human energy into wrong channels; so long as most people are out of place doing the things they hate to do, living a life they loathe to live, crime will be inevitable, and all the laws on the statutes can only increase, but never do away with, crime.”

Emma Goldman (1868–1940) anarchist known for her political activism, writing, and speeches

Anarchism, What it Really Stands For (1910)
Anarchism, What it Really Stands For (1910)

Life, Hate, People, Law

“The economic prerequisites for the socialist revolution are fully matured in the US. The political premises are likewise far more advanced than might appear on the surface.”

James P. Cannon (1890–1974) American politician

Theses on the American Revolution

Appearance

“In the religious age, the religious hierarchy wields power; in the political age, the ruler, nobles and commoners; in the economic, the hierarchy of wealth. The development of Europe during the last six centuries has consisted in the progressive shifting of the hierarchy of power from one set of functions to another.”

Lancelot Law Whyte (1896–1972) Scottish industrial engineer

Source: The Next Development in Man (1948), p. 132

Age, Wealth

“ We used many techniques, but probably the most common is that we will go to a country that has resources that our corporations covet- like oil- and we will arrange a huge loan to that country from an organization like the World Bank or one of its sisters. But almost all of the money goes to U. S. corporations, not to the country itself, corporations like Bechtel and Halliburton, General Motors, General Electric, these types of organizations, and they build huge infrastructure projects in the country- power plants, highways, ports, industrial parks- things that serve the very rich and seldom even reach the poor.In fact the poor suffer because the loans have to be repaid, and they are huge loans, and the repayment of them means that poor won’t get education, health, and other social services and the country is left holding a huge debt, by intention. We go back, we economic hitmen, to this country and say, “Look, you owe us a lot of money. You can’t repay your debts, so give us a pound of flesh”.”

John Perkins (1945) American author

Zeitgeist Addendum (2008)

Money, Health, World, Education

“Taking the country over, the Whites who have married Indians have not been of a high class. But the total number of Indians in the United States is so small that their future is probably that of being absorbed in the White race through miscegenation, unless it be for a few tribes cultivating a racial purity of their own and, with favorable economic conditions, perpetuating themselves for a long time to come.”

Madison Grant (1865–1937) American lawyer, eugenicist, and conservationist

The Conquest of a Continent (1933)

Time, Future, Country

“A dangerous tendency has shown itself of late among many of our personnel -- an unwillingness to share weal and woe with the masses, a concern for personal fame and gain. This is very bad. One way of overcoming it is to streamline our organizations in the course of our campaign to increase production and practice economy, and to transfer cadres to lower levels so that a considerable number will return to productive work. We must see to it that all our cadres and all our people constantly bear in mind that ours is a large socialist country but an economically backward and poor one, and that this is a very big contradiction. To make China prosperous and strong needs several decades of hard struggle, which means, among other things, pursuing the policy of building up our country through diligence and thrift, that is, practicing strict economy and fighting waste.”

Mao Zedong (1893–1976) Chairman of the Central Committee of the Communist Party of China

On the Correct Handling of Contradictions Among the People
Original: (zh-CN) 在我们的许多工作人员中间，现在滋长着一种不愿意和群众同甘苦，喜欢计较个人名利的危险倾向，这是很不好的。我们在增产节约运动中要求精简机关，下放干部，使相当大的一批干部回到生产中去，就是克服这种危险倾向的一个方法。要使全体干部和全体人民经常想到我国是一个社会主义的大国，但又是一个经济落后的穷国，这是一个很大的矛盾。要使我国富强起来，需要几十年艰苦奋斗的时间，其中包括执行厉行节约、反对浪费这样一个勤俭建国的方针。

People, Way, Strong, Fight

“Intellectual capital is the main determining factor and the base for economic and social development to any country.”

Talal Abu-Ghazaleh (1938) Jordanian businesspeople

Meeting the Challenges of Electronic Business” in Muscat, Oman, October 9, 2000.

Country

“… Following these examples every responsible government should strive to remove those obstacles that hinder the progress of civilisation and should stimulate the growth of those economic forces that a nation carries in its bosom.”

Friedrich List (1789–1846) German economist with dual American citizenship

Source: The Natural System of Political Economy (1837), pp. 42–43

“…The relationship of a people to their homeland is crucial. A people will naturally have a difficult time maintaining a common cultural identity without a collective presence in their homeland. Only in its homeland can a people develop economically, culturally and socially as a homogeneous entity. In fact, this is the crux of why some of us consider it necessary to struggle to live in our homeland.”

Monte Melkonian (1957–1993) National Hero of Armenia

Source: The Right to Struggle (1993), P. 13.

People, Nature, Time

“I'm begging you, your right to religion and freedom to exercise religion and read all of the passages of the Bible as you want to read them and as your church wants to preach them… are going to come under the ropes in the next year. If it lasts that long it will be the next year. I beg you, look for the words "social justice" or "economic justice" on your church Web site. If you find it, run as fast as you can. Social justice and economic justice, they are code words. Now, am I advising people to leave their church? Yes!”

Glenn Beck (1964) U.S. talk radio and television host

The Glenn Beck Program
Premiere Radio Networks
2010-03-02
Goodstein
Laurie
Outraged by Glenn Beck’s Salvo, Christians Fire Back
New York Times
2010-03-11
0362-4331
http://www.nytimes.com/2010/03/12/us/12justice.html
2010s, 2010

People, Religion, Justice, Exercises

“How do we create only games that we actually feel like playing, because we can opt out at any time? In the economic field, at least, the answer is obvious. All of the gratuitous sadism of workplace politics depends on one’s inability to say “I quit” and feel no economic consequences.”

David Graeber book Bullshit Jobs

Bullshit Jobs: A Theory (2018)

Feeling, Game, Time, Dependency

“For it is certain that the future will bring realities for which our traditional optimism fails to prepare us and against which our economic momentum fails to arm us.”

Robert L. Heilbroner (1919–2005) American historian and economist

Source: The Future As History (1960), Chapter III, Part 12, The Deepening Confusion, p. 170

Optimism, Reality, Future

“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)

People, Business, Effort, Country

“When Keynes’s General Theory was published in February 1936, it obliterated all else on the scene in academic economics. Hayek was known to be working on a treatise on capital as Keynes’s work was published (the work that became The Pure Theory of Capital). While there was some anticipation in academia for this forthcoming major work, interest even by economists in Hayek’s work waned.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)

“Economists live in a world of economic data, facts and opinions informed by their experiences.”

Brent Budowsky (1952) American journalist

In shock poll, Libertarian Johnson beats Trump among economists (August 23, 2016)

World

“[I]f American champions of civil liberty could all think in terms of economic freedom as the goal of their labors, they too would accept "workers' democracy" as far superior to what the capitalist world offers to any but a small minority. Yes, and they would accept — regretfully, of course — the necessity of dictatorship while the job of reorganizing society on a socialist basis is being done.”

Roger Nash Baldwin (1884–1981) American Civil Liberties Union (ACLU) co-founder

Article from Soviet Russia Today

World, Democracy, Thinking, Freedom

“The materials collected in this volume are intended to acquaint the student with economic principles as they are manifested in the tangible facts of economic life. A few extracts of primarily theoretical character have been included to represent important aspects of contemporary or historic thought; but for the most part the selections are not so much authoritative formulations of economic laws as concrete case-material embodying such laws, or affording a background of information which the systematic treatises on economics can hardly give and which the teacher certainly cannot often assume that his students will possess.”

Leon C. Marshall (1879–1966) American economist

James A. Field, Leon C. Marshall and Chester W. Wright. Materials For the Study of Elementary Economics https://archive.org/stream/materialsforstud00mars#page/n5/mode/2up, University of Chicago Press, 1913. Preface

Life, Law, Teachers, Parting

“Nehru's great passion was to change our society — the congealed society which we inherited from our own past, and from the static past of the British period. And, social change he connected with economic change. We could not change our society without changing our economic system and economic relations in society. His whole dream was that, his whole effort was in that direction. But the march of society, of social change has not been fast enough, nor fundamental enough so far. And, our inherited caste system remains with us, but it has been very badly battered. And, the conceptions behind the caste system have also been very badly damaged by policies, by the march of technology and economics, all these things. To some extent while this progressive movement was taking place, there was also, concurrently, some sort of counter-revolution, resisting it. But the overwhelming force of the progressive movement has been winning by and large. But now we have to specifically deal with many of the social ills and backwardness.”

K. R. Narayanan (1920–2005) 9th Vice President and the 10th President of India

Shri K. R. Narayanan President of India in Conversation with N. Ram on Doordarshan and All India Radio

Dreams, Effort, Passion, Change

“There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising to dominance just to be deposed in a crisis by another school. According to this view, paraphrasing Marx, all history of economics is a history of school struggles, punctuated by revolutions.”

Jürg Niehans (1919–2007) Swiss economist

Jürg Niehans, " Revolution and evolution in economic theory https://ecompapers.biz.uwa.edu.au/paper/PDF%20of%20Discussion%20Papers/1992/92-20%20Niehans,%20J.pdf." The Australian Quarterly (1993): 498-515.

School, History, Success

“The self is a simplification of the notion of soul, created to serve the purposes of the modern sciences of psychology and economics, both of which want you to be happy in a simple, straightforward way they can count.”

Harvey Mansfield (1932) Author, professor

How to Understand Politics: What the Humanities Can Say to Science (2007)

Happiness, Way, Soul, Science

“[S]ocialism’s durability as a concept owes almost nothing to economics and almost everything to the desire for power…”

Jonah Goldberg (1969) American political writer and pundit

2010s, 2018, Socialism is So Hot Right Now (2018)

“The reason that economic textbooks now begin with imaginary villages is because it has been impossible to talk about real ones. Even some economists have been forced to admit that Smith's Land of Barter doesn't really exist.

The question is why the myth is perpetuated anyway.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Three, "Primordial Debts", p. 43

Question

“The nostalgia for Mao Zedong that we see in China today is in part a longing of the poor and downtrodden - the losers in the economic boom - for the egalitarianism an job security of the Mao era. But it is more than that. For the "patriots" in today's rabid nationalism, it is nostalgia for a time when China dared to say "no" to both of the world's superpowers, the Us. S. and the Soviet Union.”

Liu Xiaobo (1955–2017) Chinese literary critic, writer, professor, and human rights activist

"Bellicose and Thuggish: The Roots of Chinese "Patriotism" at the Dawn of the Twenty-First Century" (2002)
No Enemies, No Hate: Selected Essays and Poems

World, Nostalgia, Time, Parting

“The Mercantile System still had a certain artless Catholic candour and did not in the least conceal the immoral nature of trade. … But when the economic Luther, Adam Smith, criticised past economics things had changed considerably. … Protestant hypocrisy took the place of Catholic candour.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

Das Merkantilsystem hatte noch eine gewisse unbefangene, katholische Geradheit und verdeckte das unsittliche Wesen des Handels nicht im mindesten. ... Als aber der ökonomische Luther, Adam Smith, die bisherige Ökonomie kritisierte, hatten sich die Sachen sehr geändert. ... An die Stelle der katholischen Geradheit trat protestantische Gleisnerei.
Outlines of a Critique of Political Economy (1844)

Nature, Change, Past

“I bet you anything I could destroy Milton Friedman in a debate about economics — so long as the audience was comprised of five year olds. He may have a Nobel Prize, but I can make offensive sounds with my armpit. Advantage: Goldberg!”

Jonah Goldberg (1969) American political writer and pundit

July 19, 2004 http://web.archive.org/web/20040421/www.nationalreview.com/goldberg/goldberg200407190837.asp 2000s, 2004

“Peace has an economic foundation to which too little attention has been given. No student can doubt that it was to a large extent the economic condition of Europe that drove those overburdened countries headlong into the World War. They were engaged in maintaining competitive armaments. If one country laid the keel of one warship, some other country considered it necessary to lay the keel of two warships. If one country enrolled a regiment, some other country enrolled three regiments. Whole peoples were armed and drilled and trained to the detriment of their industrial life, and charged and taxed and assessed until the burden could no longer be borne. Nations cracked under the load and sought relief from the intolerable pressure by pillaging each other. It was to avoid a repetition of such a catastrophe that our Government proposed and brought to a successful conclusion the Washing- ton Conference for the Limitation of Naval Armaments. We have been altogether desirous of an extension of this principle and for that purpose have sent our delegates to a preliminary conference of nations now sitting at Geneva. Out of that conference we expect some practical results. We believe that other nations ought to join with us in laying aside their suspicions and hatreds sufficiently to agree among themselves upon methods of mutual relief from the necessity of the maintenance of great land and sea forces. This can not be done if we constantly have in mind the resort to war for the redress of wrongs and the enforcement of rights. Europe has the League of Nations. That ought to be able to provide those countries with certain political guaranties which our country does not require. Besides this there is the World Court, which can certainly be used for the determination of all justifiable disputes. We should not underestimate the difficulties of European nations, nor fail to extend to them the highest degree of patience and the most sympathetic consideration. But we can not fail to assert our conviction that they are in great need of further limitation of armaments and our determination to lend them every assistance in the solution of their problems. We have entered the conference with the utmost good faith on our part and in the sincere belief that it represents the utmost good faith on their part. We want to see the problems that are there presented stripped of all technicalities and met and solved in a way that will secure practical results. We stand ready to give our support to every effort that is made in that direction.”

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

1920s, Ways to Peace (1926)

Life, War, People, World

“Schumacher … rightly saw that in the world today Buddhism is a more potent basis for resisting the economism that rules the West and through it most of the East.”

John B. Cobb (1925) American theologian

Eastern View of Economics http://web.archive.org/web/20150906075839/http://www.religion-online.org/showarticle.asp?title=3607

World

“In his (Barack Obama's) distorted understanding of economics, when anyone, but especially the rich get a tax break or pay less in taxes, someone else has to pay the difference or the supposed shortfall adds to the debt. His assumption, typical of most Democrats and Republicans, is the government is “owed” a portion of the fruits of our labor. It never occurs to him that perhaps the government has no business taking money from people who earn it in the first place. He never thinks that the solution is to stop government spending and stop robbing Peter to pay Paul.He and other members of the ruling elite can only see the economy as a pie, with only so much to go around. If one person gets “more,” someone has to do with “less.” It never occurs to them that the free market is like a bakery that can produce many pies, and bigger pies, and different kinds of pies so that everyone has their fill.”

R. Lee Wrights (1958–2017) American gubernatorial candidate

2012, " The State of the Union is Still a State of War http://www.libertyforall.net/?p=7189"

Money, People, Understanding, Business

“Multitude is a class concept. … Class is determined by class struggle. There are, of course, in infinite number of ways that humans can be grouped into classes - hair color, blood type, and so forth - but the classes that matter are those defined by the lines of collective struggle. Race is just as much a political concept as economic class is in this regard. … Class is a political concept, in short, in that a class is and can only be a collectivity that stuggles in common.”

Antonio Negri book Multitude: War and Democracy in the Age of Empire

104
Multitude: War and Democracy in the Age of Empire

Color, Way

“Sacredness is the essence of religion. You know, a great river may become polluted as it flows past a town, but if the pollution isn’t too great, the river cleanses itself as it goes along, and within a few miles it is again clean, fresh, pure. Similarly, when once the mind comes upon this sacredness, then every act is a cleansing act. Through its very movement the mind is making itself innocent, and therefore it is not accumulating. A mind that has discovered this sacredness is in constant revolution — not economic or social revolution, but an inner revolution through which it is endlessly purifying itself. Its action is not based on some idea or formula. As the river, with a tremendous volume of water behind it, cleanses itself as it flows, so does the mind cleanse itself when once it has come upon this religious sacredness.”

Jiddu Krishnamurti (1895–1986) Indian spiritual philosopher

Vol. XV, p. 244
Posthumous publications, The Collected Works

Religion, Idea, Water, Past

“Critical theory … values Freud as a non-ideological thinker and theoretician of contradictions—contradictions which his successors sought to escape and mask. … “The greatness of Freud,” wrote Adorno, “consists in that, like all great bourgeois thinkers, he left standing undissolved such contradictions and disdained the assertion of pretended harmony where the thing itself is contradictory. He revealed the antagonistic character of the social reality.” … A parallel can be established between Marx’s judgment on Ricardo and the post-Ricardians. To Marx, Ricardo was the classic and best representative of bourgeois economics since he articulated the contradictions of bourgeois society without glossing them over.”

Russell Jacoby (1945) American historian

Source: Social Amnesia: A Critique of Conformist Psychology from Adler to Laing (1975), pp. 27-28

Reality

“My friends, the Republican Party did not win the midterm election in November: We lost that election. We lost because voter turnout was abysmally, embarrassingly low, and millions of working people, young people and people of color gave up on politics as usual and they stayed home. That’s a fact. In my view, Democrats will not retain the White House, will not regain the Senate or the U. S. House, will not be successful in dozens of governor races across the country, unless we generate excitement and momentum and produce a huge voter turnout. With all due respect – and I do not mean to insult anyone here – that turnout, that enthusiasm, will not happen with politics as usual. The people of our country understand that given the collapse of the American middle class, and given the grotesque level of income and wealth inequality we are experiencing, we do not need more establishment politics or establishment economics.”

Bernie Sanders (1941) American politician, senator for Vermont

Address to the Democratic National Committee’s Summer Meeting, Bernie Sanders Warns Democrats They May Not Win in 2016 Without Him http://www.nytimes.com/politics/first-draft/2015/08/28/bernie-sanders-warns-democrats-they-may-not-win-in-2016-without-him/, The New York Times (28 August 2015) https://www.youtube.com/embed/NU4iNAtg6W0?start=275&end=421 2010s, 2015

People, Color, Home, Understanding

“Professor Ohlin also made an important contribution to what now might be called the macro-economic aspects of a country's balance of payments. In 1929 in the Economic Journal he engaged in a famous controversy with Keynes on the problem of transferring payments from one country to another across the foreign exchanges. In this he laid stress upon the income-expenditure effects of the reduced spending power in the paying country and of the increased spending power in the recipient country. In doing so he made use of the usual distinction between a country's imports and exports; but in addition he emphasised the importance of the less usual distinction between a country's domestic non-tradeable goods and services and its tradeable, exportable and importable, goods. I made some use of this latter distinction in my Balance of Payments; but looking back I regret that I did not let it play a much more central role in that book”

James Meade (1907–1995) British economist

The Meaning of "Internal Balance", (1977)

Books, Problem, Country

“In fact, it would be very easy to ‘prove’ Marx’s analysis to have been wrong, if experience had shown, for example, that the more capitalist industry develops, the smaller and smaller the average factory becomes, the less it depends upon new technology, the more its capital is supplied by the workers themselves, the more workers become owners of their factories, the less the part of wages taken by consumer goods becomes (and the greater becomes the part of wages used for buying the workers’ own means of production). If, in addition, there had been decades without economic fluctuations and a full-scale disappearance of trade unions and employers’ associations (all flowing from the disappearance of contradictions between Capital and Labour, inasmuch as workers increasingly become the controllers of their own means and conditions of production), then one could indeed say that Capital was so much rubbish and had dismally failed to predict what would happen in the real capitalist world a century after its publication.”

Ernest Mandel (1923–1995) Belgian economist and Marxist philosopher

Introduction to Capital. Introduction to volume 1 (1976)

World, Parting, Dependency

“The crisis afflicting this country, along with other countries of the Western world, is a crisis of capitalism. It is a crisis of the dominant economic system that prevails in all those countries.”

Michael Foot (1913–2010) British politician

Speech to the House of Commons (Hansard, 20 January 1976, Col. 1126)
1970s

World, Affliction, Country

“Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

“Any attempt by political forces in the Third World to resolve the problems of their neo-colonial integration into the world trading system on the basis of national sovereignty is as naive as would be the attempt of black South Africans if they opted for a 'bantustan' solution to their particular politico-economic dilemma.”

Nick Land (1962) British philosopher

"Kant, Capital, and the Prohibition of Incest" (1988–9), in Fanged Noumena, p. 57

World, Problem

“Assuming… that all available goods of higher order are employed in the most economic fashion, the value of a concrete quantity of a good of higher order is equal to the difference in importance between the satisfactions that can be attained when we have command of the given quantity of the good of higher order whose value we wish to determine and the satisfactions that would be attained if we did not have this quantity at our command.”

Carl Menger (1840–1921) founder of the Austrian School of economics

Source: Principles,, p. 164-5; cited in: Randall G. Holcombe, Great Austrian Economists, p. 90

Fashion

“In an era without the constraints of physical shelf space and other bottlenecks of distributions, narrowly targeted goods and services can be as economically attractive as mainstream fare.”

Chris Anderson book The Long Tail

Source: The Long Tail: Why the Future of Business Is Selling Less of More (2006), Ch. 4, p. 52

“In the first place I identify this ["the equilibrium of poverty"] with primitive agriculture, and two factors have been at work there. One is, of course, population growth. If you were a poor farmer in India, Pakistan, or in much of Africa, you would want as many sons as possible as your social security. They would keep you out of the hot sun and give you some form of subsistence in your old age. So, you have pressure for population growth that is, itself, the result of the extreme economic insecurity. This is something which hasn't been sufficiently emphasized.”

John Kenneth Galbraith (1908–2006) American economist and diplomat

Interview with John Newark (1990) from Interviews with John Kenneth Galbraith (2004) http://aurora.icaap.org/talks/galbraith.htm, ed. James Ronald Stanfield and Jacqueline Bloom Stanfield

Age, Sun

“We will adopt low-key and pragmatic measures to establish better economic relations with other countries.”

Lin Chuan (1951) Taiwanese politician

Lin Chuan (2017) cited in " Taipei not adverse to China ties: Lin http://www.taipeitimes.com/News/taiwan/archives/2017/05/09/2003670233" on Taipei Times, 9 May 2017.

Country

“The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.”

Ron Paul (1935) American politician and physician

Freedom Under Siege http://www.ronpaullibrary.org/freedom_under_siege.php (1987). 1980s

War, People, World

“Generally, and under normal conditions, people turn to America when there is something that attracts them, when they can find here an opportunity. If such an opportunity no longer exists, they do not come. Should this country experience a period of economic depression, the natural working of this law would be that many classes of unskilled labor—especially those who come here temporarily, expecting to return once they have accumulated sufficient money—would, of their own accord, leave the country.”

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

1920s, Whose Country Is This? (1921)

Money, People, Law, Nature

“It is difficult for us to appreciate the pressures which are being put on men I know to be realistic and reasonable, not only in their executive capacity but in the highly organised strike committees in the individual ports, by this tightly knit group of politically motivated men who, as the last General Election showed, utterly failed to secure acceptance of their views by the British electorate, but who are now determined to exercise backstage pressures, forcing great hardship on the members of the union and their families, and endangering the security of the industry and the economic welfare of the nation.”

Harold Wilson (1916–1995) Former Prime Minister of the United Kingdom

Speech in the House of Commons (20 June 1966) http://hansard.millbanksystems.com/commons/1966/jun/20/seamens-strike, referring to the organisers of a Seamen's strike. Wilson meant to imply they were Communists. Among the union officials offended by this quote was John Prescott. Prime Minister

Men, Family, Exercises, Motivation

“There are many people in the world who really don't understand, or say they don't, what is the great issue between the free world and the Communist world. Let them come to Berlin. There are some who say that communism is the wave of the future. Let them come to Berlin. And there are some who say in Europe and elsewhere we can work with the Communists. Let them come to Berlin. And there are even a few who say that it is true that communism is an evil system, but it permits us to make economic progress. Lass' sie nach Berlin kommen. Let them come to Berlin.”

John F. Kennedy book Ich bin ein Berliner

1963, Ich bin ein Berliner

People, World, Communication, Understanding

“For the first time in history, hits and niches are on equal economic footing, both just entries in a database called up on demand, both equally worthy of being carried. Suddenly, popularity no longer has a monopoly on profitability.”

Chris Anderson book The Long Tail

Source: The Long Tail: Why the Future of Business Is Selling Less of More (2006), Ch. 1, p. 24

History, Time

“There is little doubt that the observation that quality may depend on price (productivity on wages; default probability on interest rates) has provided a rich mine for economic theorists: A simple modification of the basic assumptions results in a profound alteration of many of the basic conclusions of the standard paradigm. The Law of Supply and Demand has been repealed. The Law of the Single Price has been repealed. The Fundamental Theorem of Welfare Economics has been shown not to be valid.
More than that, the theories that we describe here provide the basis of progress toward a unification of macroeconomics and microeconomics. They pro vide an explanation of unemployment and credit rationing, derived from basic microeconomic principles. It is a theory in which the extensive idleness that periodically confronts society's resources, human and capital, is seen as but the most obvious example of market failures that prevasively and persistently distort the allocation of resources.”

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

"The Causes and Consequences of The Dependence of Quality on Price", Journal of Economic Literature, Vol. 25, No. 1 (Mar., 1987)

Law, Failure, Dependency

“Demagogues always do well in economic downturns.”

John Avlon (1973) American journalist

Glenn Beck and the History of Americas Worst Demagogues, September 2, 2010, The Daily Beast http://www.thedailybeast.com/articles/2010/09/02/glenn-beck-and-the-history-of-americas-worst-demagogues.html?cid=tag:all2,

“It is essential condition to maintain mutual trust and confidence between the employer and the employee to obtain the goal of rapid economic development and social justice.”

V. V. Giri (1894–1980) Indian politician and 4th president of India

Pravin Durai in: Human Resource Management http://books.google.co.in/books?id=aan1hKH_ejUC&pg=PA387, Pearson Education India, p. 387 Explaining his theme of the tree of socialism with the root comprising human beings.

Justice, Confidence

“Though he died in 1946, Keynes still dominated economics at Cambridge in the mid-1960s. It wasn't just that all the leading figures among the faculty, Richard Kahn, Joan Robinson, Brian Reddaway, David Champernowne, Nicholas Kaldor, and James Meade, had been his pupils and/or collaborators. It was the tone of the place. The study of economics, theoretical or empirical, was driven by the desire to improve the conduct of economic policy. This did not mean that pure theory was neglected. Indeed, in those years Robinson was fighting a stirring battle in the realms of high theory with Paul Samuelson and Robert Solow from the Massachusetts Institute of Technology. Nor was Cambridge innocent of the cutting edge of econometric technique. Richard Stone, who, following Keynes's suggestions, had created the first modern national income accounts, was still director of the Department of Applied Economics where much of modern econometrics was pioneered. Nonetheless, we were taught that theory and technique should serve the higher cause of rational economic policies, and to use our newly learned econometric expertise to write essays on unemployment, or inflation, or the balance of trade, or some other topic at the top of the current political agenda.”

John Eatwell, Baron Eatwell (1945) British economist

"Citizen Keynes", 1994

Study, Learning, Fight

“Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.”

Ben Bernanke (1953) American economist

The Ten Suggestions http://www.federalreserve.gov/newsevents/speech/bernanke20130602a.htm. Speech given at Baccalaureate Ceremony at Princeton University, Princeton, New Jersey, June 2, 2013.

Idea, Past, Future, Help

“Social costs… are all direct and indirect losses sustained by third persons or the general public as a result of unrestrained economic activities.”

Karl William Kapp (1910–1976) American economist

Source: Social Costs of Business Enterprise, 1963, p. 12. Cited in: M. Rangone & S. Solari (2012) "Southern European capitalism and the social costs of business enterprise". in: Studi e Note di Economia, Anno XVII, n. 1-2012, pp. 3-28

Loss, Personality

“I stress the strength of our economy because it is essential to the strength of our nation. And what is true in our case is true in the case of other countries. Their strength in the struggle for freedom depends on the strength of their economic and their social progress. We would be badly mistaken to consider their problems in military terms alone. For no amount of arms and armies can help stabilize those governments which are unable or unwilling to achieve social and economic reform and development. Military pacts cannot help nations whose social injustice and economic chaos invite insurgency and penetration and subversion. The most skillful counter-guerrilla efforts cannot succeed where the local population is too caught up in its own misery to be concerned about the advance of communism.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: 1961, Speech to Special Joint Session of Congress

Communication, Problem, Effort, Freedom

“The institutional settlement of post-war West Germany has endured because it generated value. They retained pre-modern artisan organisations and turned them into the foundation of their contemporary economic success. They entangled and constrained capital in a myriad form of national, sectoral and localised arrangements and they emerge from the crash, virtually alone, with a productive economy and a functioning democracy, with greater equality than us and more meaningful work.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Blue Labour, An Ancient Polity For A New Economy? http://www.bluelabour.org/2012/06/19/an-ancient-polity-for-a-new-economy/

War, Democracy, Success

“Progress in economics is said to take place through a cumulative process in which scholars build on the work of their predecessors. In an age when graduate syllabi contain few references to books and articles written as many as ten years ago, this is too infrequently the case.”

Barry Eichengreen (1952) Economist

Preface
Globalizing Capital (2008)

Books, Age

“Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U. S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic-Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism.”

Benjamin Page (1939) Professor of Decision Making

Martin Gilens and Benjamin I. Page, "Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens," Perspectives on Politics, vol. 12, no. 3 (September 2014)

Democracy, Business, Support

“Economics and ethics naturally come into rather intimate relations with each other since both recognizedly deal with the problem of value.”

Frank Knight (1885–1972) American economist

Source: The Ethics of Competition, 1935, p. 11

Nature, Problem

“Tolstoy … believed that property claims were based on robbery and maintained by violence. More radical than second-century radical Christians and than most monks, he turned even against the subdivision of labor in economic society. It seemed to him to be the means by which privileged persons such as artists, intellectuals, and their kind, absorbed the labor of others, justifying themselves by the belief that they were beings of a higher order than workingmen, or that their contribution to society was so great that it compensated for their claims.”

H. Richard Niebuhr (1894–1962) American theologian

Source: Christ and Culture (1951), p. 62

Personality

“The reason why I gave up all the privileges and economic benefits was that I felt I could not let my sons lead a life like me, as a modern-day slave. I believed the best legacy I could leave for my sons was to give them the freedom that is so common to everyone in America.”

Thae Yong-ho (1961) former North Korean diplomat who defected to South Korea

Remarks to the U.S. Congress (November 2017)

Life, Freedom

“Economism is the view that the economy is the most important part of society and that the other dimensions such as politics and education should serve it. Economism has become the ruling ideology, not because of claims of economists, but because of the decisions of political leaders, financiers, corporate leaders, and the general public.”

John B. Cobb (1925) American theologian

Spiritual Bankruptcy: A Prophetic Call to Action (2010)

Education, Decision, Parting

“The approach to the study of economic history that dominates the presentation of the subject in this volume is that of the economist whose immediate and primary function is to study the production and distribution of wealth with the objective of learning how the nation's economic progress can be promoted and its standard of living advanced. It can be called the functional approach to economic history. Although the narrative should provide such knowledge of the general background of economic history as is needed for most purposes in the interpretation of political history, and has frequently been turned aside to indicate the reactions thus involved, this has been a secondary rather than a primary consideration in the selection and organization of the material. Some material has been included because it served certain of the other objectives mentioned in the introductory chapter, though for the most part these objectives are served also by the material primarily of significance in relation to the major objective.”

Chester W. Wright (1879–1966) American economic historian

Chester W. Wright (1941). Economic History of the United States, p. xi-xii " Wright (1941)

History, Knowledge, Study, Learning

“A society which is clamouring for choice, which is filled with many articulate groups, each urging its own brand of salvation, its own variety of economic philosophy, will give each new generation no peace until all have chosen or gone under, unable to bear the conditions of choice.”

Margaret Mead (1901–1978) American anthropologist

Source: 1920s, Coming of Age in Samoa (1928), p. 131 (1973 edition)

Peace

“As the Economic Policy Institute reported, "What income growth there was over the 1979-1989 period was driven primarily by more work at lower wages."”

Mark Ames (1965) American writer and journalist

Part III: Ragenomics, page 87.
Going Postal: Rage, Murder, and Rebellion, From Reagan's Workplaces to Clinton's Columbine and Beyond (2005)

“I wish it culminates in something positive and we can both grow economically. The money we spend on weapons can be used to give water to the people, to educate everybody, to give them medical aid and to give employment to the youth of the country.”

Sunil Dutt (1929–2005) Hindi film actor

We all are one, whichever religion we belong to

Money, People, Youth, Education

“[The 1964 General Election] was a decision that not only our industrial system but every aspect of our national life that has been corrupted by the doctrine of a self-perpetuating establishment should give way to an open society where knowing your job would mean more than knowing the right people. It was a decision that national purpose should override sectional interest, that earning money took precedence over making money. It was a decision for change: not change for its own sake, but change, radical and dynamic, for economic and social purpose. It was a decision, in short, that Britain should have a government and that the government should govern.”

Harold Wilson (1916–1995) Former Prime Minister of the United Kingdom

Speech to the Labour Party Conference in Blackpool (28 September 1965), quoted in The Times (29 September 1965), p. 5.
Prime Minister

Life, Money, People, Way

“History shows that where ethics and economics come in conflict, victory is always with economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them.”

Bhimrao Ramji Ambedkar (1891–1956) Father of republic India, champion of human rights, father of India's Constitution, polymath, revolutionary…

Political Science for Civil Services Main Examination (2010)
Variant: History shows that where ethics and economics come in conflict, victory is always with economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them.

History, Victory

“Although the "ruling class"disagrees with the populists' moral agenda it tolerates the "moral war"as a means of keeping the lower classes in check, that is, it enables the latter to articulate their fury without disturbing the economic status quo.”

Slavoj Žižek (1949) Slovene philosopher

Source: First as Tragedy, Then as Farce (2009), Chapter One, The Structure of Enemy Propaganda

War

“Economics deals with the behavior of commodities rather than with the behavior of men.”

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

Attributed to Kenneth Boulding in: Peter F. Drucker, Management: Tasks, Responsibilities, Practices, New York: Truman Talley Books, E.P. Dutton, 1986, p. 21.
1980s

Men, Behavior

“We are still a model in ways economic and non-economic. When I say things non-economic, I would include governance — and rule of law is a key element. Many, I sincerely believe they tell the truth, say that they still look to Hong Kong for inspiration.”

Leung Chun-ying (1954) Hong Kong politician

2012

Truth, Law, Way, Sincerity

“We talk of poverty and inequality, but in crafting an economic programme or policy for the future for this country, we must ensure no community, no region should be neglected.”

Anwar Ibrahim (1947) Malaysian politician

Anwar Ibrahim said during a meeting event with bankers and fund managers at a Port Dickson hotel, quoted on The Star Online, "Anwar underscores the need to help the poor" https://www.thestar.com.my/news/nation/2018/10/10/anwar-underscores-the-need-to-help-the-poor/, 10 October 2018.

Communication, Future, Country

“The Muslim whose legs are being reduced to pulp by his American tormentor doesn't care if he's being murdered because he is despised by Christians or because he is an impediment to economic rationality. … For all the inevitability that surrounds the Christian/Enlightenment divide, it should not be so difficult for us to find a third option in our intellectual traditions, even if this tradition seems mostly defeated and lost. It is a tradition that is spiritual and yet hostile to the orthodoxies of institutional Christianity. It is the creation of the Enlightenment and yet it is suspicious of the claims of Reason, especially that form of Reason, economic rationalism, that defines capitalism. This tradition began in Europe with Romanticism and in America with the Concord Transcendentalists.”

Curtis White (1951) American academic

"The spirit of disobedience: an invitation to resistance"

Hostility

“Trusting souls who accept economic assurances that markets are efficient are unlikely to fare any better this time when the Bull gives way to the Bear.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 10, The Price Is Not Right, p. 215

Way, Soul, Time

“Great changes have come over the world since Lafayette first came here desirous of aiding the cause of freedom. His efforts in behalf of an American republic have been altogether successful. In no other country in the world was economic opportunity for the people ever so great as it is here. In no other country was it ever possible in a like degree to secure equality and justice for all. Just as he was passing off the stage, the British adopted their reform measures giving them practically representative government. His own France has long since been welcomed into the family of republics. Many others have taken a like course. The cause of freedom has been triumphant. We believe it to be, likewise, the cause of peace. But peace must have other guarantees than constitutions and covenants. Laws and treaties may help, but peace and war are attitudes of mind. American citizens, with the full sympathy of our Government, have been attempting with apparent success to restore stricken Europe.”

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

1920s, Ordered Liberty and World Peace (1924)

War, People, World, Family

“Everything that used to be foreign to me, at the rational procedures in my profession, I now beging to resort to after all, from necessity, at least as a matter of experiment. Apparently I am becoming perfectly sober and small, perfectly unpoetic and unenthusiastic. I imagine a very small formal motif and try to execute it economically.”

Paul Klee (1879–1940) German Swiss painter

Quote (July 1902), # 425, in The Diaries of Paul Klee - 1898-1918, translation: Pierre B. Schneider, R. Y. Zachary and Max Knight; publisher, University of California Press, 1968
1895 - 1902

Imagination

“Some intellectuals’ downplaying of objective reality and enduring criteria extends beyond social, scientific, or economic phenomena into art, music, and philosophy. The one over-riding consistency across all these disparate venues is the self-exaltation of the intellectuals. Unlike great cultural achievements of the past, such as magnificent cathedrals, which were intended to inspire kings and peasants alike, the hallmark of self-consciously “modern” art and music is its inaccessibility to the masses and often even its deliberate offensiveness to, or mockery of, the masses.
Just as a physical body can continue to live, despite containing a certain amount of microorganisms whose prevalence would destroy it, so a society can survive a certain amount of forces of disintegration within it. But that is very different from saying that there is no limit to the amount, audacity and ferocity of those disintegrative forces which a society can survive, without at least the will to resist.”

Thomas Sowell (1930) American economist, social theorist, political philosopher and author

Source: 2010s, Intellectuals and Society (2010), Ch. 22 : The Influence of Intellectuals

Art, Music, Reality, Past

“You cannot successfully use your technical knowledge unless you are a fairly educated person, and, in particular, have some knowledge of the whole field of the social sciences as well as some knowledge of history and philosophy. Of course real competence in some particular field comes first. Unless you really know your economics or whatever your special field is, you will be simply a fraud. But if you know economics and nothing else, you will be a bane to mankind, good, perhaps, for writing articles for other economists to read, but for nothing else.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

Friedrich Hayek (1991). "On being an economist." In: W. W. Bartley and S. Kresge (eds.), The Trend of Economic Thinking; Essays on Political Economists and Economic History, Volume III, London. Routledge. p. 38
1980s and later

Education, History, Fraud, Knowledge

Quotes about economics page 11

Quotes about economics
page 11