Quotes about economics
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“For well over a century business cycles have run an unceasing round. They have persisted through vast economic and social changes; they have withstood countless experiments in industry, agriculture, banking, industrial relations, and public policy; they have confounded forecasters without number, belied repeated prophecies of a "new era of prosperity" and outlived repeated forebodings of "chronic depression."”

Arthur F. Burns (1904–1987) American economist and diplomat

Arthur F. Burns (1947). Stepping stones towards the future. Annual Report 27. New York: National Bureau of Economic Research. p. 27; Cited in: Gordon (1986; 1)

Business, Change

“America is a much newer experiment in human living, one with moral concerns at its core. In this respect it differs from Europe, which has preferred sophistication and worldly wisdom to "righteousness," and resembles China, which saw the universe itself as essentially a moral order. However materialistic Americans may be in their economic pursuits, their ceremonies emphasize the material far less than European societies have. America has imposing official architecture. Washington, D. C., boasts a radial baroque stateliness. Yet one of its most important buildings, the White House, is a modest dwelling, its scale far smaller than that of the palaces of Europe and Asia.”

Yi-Fu Tuan (1930) Chinese-American geographer

Shadows and Light, epilogue, Passing Strange and Wonderful: Aesthetics, Nature, and Culture (1993).

Wisdom, Universe, Housing

“Kinmen will become a rapidly developing free economic pilot zone and base for peaceful cross-strait development.”

Chen Fu-hai (1963) Magistrate of Kinmen County

Chen Fu-hai (2014) cited in " Inauguration Speech of the Sixth Kinmen County Magistrate https://www.kinmen.gov.tw/en/cp.aspx?n=16892BCBAF2F7505" on Kinmen County Government, 24 November 2015.

Peace

“This view that the action of the Federal Reserve authorities in 1927 was responsible for the speculation and collapse which followed has never been seriously shaken. There are reasons why it is attractive. It is simple, and it exonerates both the American people and the economic system from substantial blame… Yet the explanation obviously assumes that people will always speculate if only they can get the money to finance it. Nothing could be farther from the case. There were times before and there has been long periods since when credit was plentiful and cheap -- far cheaper than in 1927-29 -- and when speculation was negligible. Nor was speculation out of control after 1927, except that it was beyond the reach of men who did not want in the least to control it. The explanation is a tribute only to a recurrent preference, in economic matters, for formidable nonsense.”

John Kenneth Galbraith book The Great Crash, 1929

Source: The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929), Chapter I, "Vision and Boundless Hope and Optimism" p. 10

Men, Money, People, Time

“The third and last classification of projects under this measure, Mr. President, are urgent infrastructure, socio-economic, rehabilitation and reconstruction projects which are not funded in any existing appropriation laws. These projects, such as the MRT 3 Rehabilitation and Capacity Extension, the updating of DSWD’s National Household Targeting System for Poverty Reduction (NHTS-PR), or the Emergency Housing Assistance for Victims of Typhoon Yolanda, constitute crucial development initiatives that shall benefit displaced and poverty-stricken Filipinos.”

Francis Escudero (1969) Filipino politician

2014, Speech: Sponsorship Speech for the Supplemental Appropriations for FY 2014

Law, Housing

“I therefore believe that the politics of the left and centre of this country are frozen in an out-of-date mould which is bad for the political and economic health of Britain and increasingly inhibiting for those who live within the mould. Can it be broken?”

Roy Jenkins (1920–2003) British politician, historian and writer

Speech to the Parliamentary Press Gallery (9 June 1980)

Health, Country

“The path away from economic freedom is, as Hayek long ago demonstrated, the road to serfdom. The road may be a long one: the pace may be swift or slow: but the destination cannot be changed. State ownership, state monopolies, state regulation and state planning, through the centralisation of economic power, inevitably lead to economic failure. They inevitably increase both the temptation and the scope for abuses of political power until freedom itself is threatened. The planned economies, the controlled societies which socialism requires, pervert what are truly economic decisions for the market into political decisions for the politician or the bureaucrat. The fruits of centralised economics are corruption, poverty and servility—and in the socialist society the only medicine which may be prescribed is heavier doses of the same socialist poison.”

Norman Tebbit (1931) English politician

The 1985 Disraeli Lecture (13 November, 1985).

Failure, Decision, Freedom, Change

“From a more theoretical viewpoint, one can focus on the nexus between the present and the future. A financial instrument typically represents a property right to receive future cash flows. Such cash flows will, of course, come in the future – hence the economics of time must be understood. In many cases the flows are uncertain, hence the need for an approach to the economics of uncertainty. In addition, cash flows in the far future may depend on actions taken (or not taken) in the near future. This gives rise to the need for a theory of the economics of options (broadly construed). Finally, one needs information to estimate likely future outcomes, hence the requirement for an understanding of the economics of information. I define financial economics so that it embraces all four of these important, difficult, and fascinating aspects of economics.”

William F. Sharpe (1934) American economist

William Sharpe’s February 1992 lecture at Trinity University: in: William Breit, ‎Barry T. Hirsch (2009). Lives of the Laureates: Twenty-three Nobel Economists. p. 172

Understanding, Time, Future, Dependency

“We might add now that we do have an authoritative account of why the United States bombed Serbia in 1999. It comes from Strobe Talbott, now the director of the Brookings Institution, but in 1999 he was in charge of the State Department-Pentagon team that supervised the diplomacy in the affair. He wrote the introduction to a recent book by his Director of Communications, John Norris, which presents the position of the Clinton administration at the time of the bombing. Norris writes that "it was Yugoslavia's resistance to the broader trends of political and economic reform - not the plight of Kosovar Albanians - that best explains NATO's war". In brief, they were resisting absorption into the U. S. dominated international socioeconomic system. Talbott adds that thanks to John Norris, anyone interested in the war in Kosovo "will know … how events looked and felt at the time to those of us who were involved" in the war, actually directing it. This authoritative explanation will come as no surprise at all to students of international affairs who are more interested in fact than rhetoric. And it will also come as no surprise, to those familiar with intellectual life, that the attack continues to be hailed as a grand achievement of humanitarian intervention, despite massive Western documentation to the contrary, and now an explicit denial at the highest level; which will change nothing, it's not the way intellectual life works.”

Noam Chomsky (1928) american linguist, philosopher and activist

Talk at the Englert Theatre in Iowa, April 10, 2006 http://www.greenteaphd.com/greenteablog/?p=252 Quotes 2000s, 2006

Life, War, Books, Way

“The analysis of engineering systems and the understanding of economic structure have advanced since then, and the time is now more ripe to bring these topics into a potentially fruitful marriage.”

Arnold Tustin (1899–1994) British engineer

Source: The Mechanism of Economic Systems (1953), p. v

Marriage, Understanding, Time

“If we wish to stop the atrocities, we will need to understand and change the social and economic conditions that cause them.”

Derrick Jensen book The Culture of Make Believe

Source: The Culture of Make Believe (2003), p. XII

Understanding, Change

“Our military behavior must be visibly consistent with our conduct in the political, economic, and international fields. Our strategic readjustments should not be mistaken for a new spurt in an armament race with the USSR. Any serious imbalance in military power between East and West is an encouragement to war- if it favors the Communist dictatorship. Actions to correct an imbalance of power and to replace the concept of Massive Retaliation by one of Flexible Response are measures conducive not to war but to world peace. Such are the notes to be sounded by confident leaders who know what they are doing and why. Then we can prepare ourselves calmly to the battle, knowing that if it is properly prepared, the odds are high for peace.”

Maxwell D. Taylor (1901–1987) United States general

Source: The Uncertain Trumpet (1960), p. 179-180

War, World, Peace, Behavior

“The issue of economics is not something I’ve understood as well as I should. I’ve got Greenspan’s book…. I've never been involved in Wall Street, I've never been involved in the financial stuff, the financial workings of the country, so I'd like to have somebody intimately familiar with it.”

John McCain (1936–2018) politician from the United States

Referring to a potential Vice President, 18 December 2007 http://www.newsweek.com/id/103730/page/3 http://www.nytimes.com/2008/01/14/opinion/14krugman.html?_r=3&hp&oref=slogin&oref=login&oref=slogin 2000s, 2007

Books, Country

“I think everybody has the same concerns about helping people when they're having trouble. The question is whether it should be done through coercion, or voluntary means, or local government. And I opt out from the federal government doing it, because that involves central economic planning. So even if we accept the gentleman's moral premise, in a practical way it's a total failure. We'd have been better off taking the amount of money and giving every single family $20,000, and they'd all been better off, than the way we did it. We bought all these trailer homes and they sat out in the open, so the whole thing is insane, it's a total waste. And besides, the reason I don't like these federal government programs, it encourages people like me to build on the beach. I have a house on the beach in the gulf of Mexico. But why don't I assume my own responsibility, why doesn't the market tell me what the insurance rates should be? Because it would be very very high. But, because we want it subsidized, we ask the people of Arizona to subsidize my insurance so I can take greater danger, my house gets blown down, and then the people of Arizona rebuild it?! My statement back during the time of Katrina, which was a rather risky political statement: why do the people of Arizona have to pay for me to take my risk… less people will be exposed to danger if you don't subsidize risky behavior… I think it's a very serious mistake to think that central economic planning and forcibly transferring wealth from people who don't take risks to people who take risks is a proper way to go.”

Ron Paul (1935) American politician and physician

The Charles Goyette Show, March 30, 2007 http://www.youtube.com/watch?v=O6RMVUOaeA8 2000s, 2006-2009

Money, People, Family, Way

“What should be the profession of faith of a sound but reasonable Imperialist? He will not be possessed with any secret desire to see the whole of Africa or of Asia painted red on the maps. He will entertain not only a moral dislike, but also a political mistrust of that excessive earth-hunger, which views with jealous eyes the extension of other and neighbouring European nations. He will have no fear of competition. He will believe that, in the treatment of subject races, the methods of government practised by England, though sometimes open to legitimate criticism, are superior, morally and economically, to those of any other foreign nation; and that, strong in the possession and maintenance of those methods, we shall be able to hold our own against all competitors.”

Evelyn Baring, 1st Earl of Cromer (1841–1917) British diplomat

Political and Literary Essays, 1908-1913

Hunger, Secret, Fear, Faith

“In this period of the building of socialism we can see the new man and woman being born. The image is not yet completely finished — it never will be, since the process goes forward hand in hand with the development of new economic forms.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Man and Socialism in Cuba (1965)

“On the 26th of January 1950, we are going to enter into a life of contradictions. In politics we will have equality and in social and economic life we will have inequality. In politics we will be recognizing the principle of one man one vote and one vote one value. In our social and economic life, we shall, by reason of our social and economic structure, continue to deny the principle of one man one value. How long shall we continue to live this life of contradictions? How long shall we continue to deny equality in our social and economic life? If we continue to deny it for long, we will do so only by putting our political democracy in peril. We must remove this contradiction at the earliest possible moment or else those who suffer from inequality will blow up the structure of political democracy which is Assembly has to laboriously built up.”

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)

Life, Democracy, Suffering

“The phrase laissez-faire is not to be found in the works of Adam Smith, of Ricardo, or of Malthus. Even the idea is not present in a dogmatic form in any of these authors. Adam Smith, of course, was a Free Trader and an opponent of many eighteenth-century restrictions on trade. But his attitude towards the Navigation Acts and the usury laws shows that he was not dogmatic. Even his famous passage about 'the invisible hand' reflects the philosophy which we associate with Paley rather than the economic dogma of laissez-faire.”

John Maynard Keynes book Essays in Persuasion

Source: Essays in Persuasion (1931), The End of Laissez-faire (1926), Ch. 2

Law, Idea

“Cumulative errors depend largely on the big surprises, the big opportunities. Not only do economic, financial, and political predictors miss them, but they are quite ashamed to say anything outlandish to their clients — and yet events, it turns out, are almost always outlandish.”

Nassim Nicholas Taleb (1960) Lebanese-American essayist, scholar, statistician, former trader and risk analyst

Source: The Black Swan: The Impact of the Highly Improbable (2007), p. 149

Error, Dependency

“The English themselves hardly conceived that their mind was either economical, sharp, or direct; but the defect that most struck an American was its enormous waste in eccentricity. Americans needed and used their whole energy, and applied it with close economy; but English society was eccentric by law and for sake of the eccentricity itself.The commonest phrase overheard at an English club or dinner-table was that So-and-So "is quite mad." It was no offence to So-and-So; it hardly distinguished him from his fellows; and when applied to a public man, like Gladstone, it was qualified by epithets much more forcible. Eccentricity was so general as to become hereditary distinction. It made the chief charm of English society as well as its chief terror.”

Henry Adams (1838–1918) journalist, historian, academic, novelist

The Education of Henry Adams (1907)

Law, Madness

“By the end of next year, we really shall be on our way to that so-called economic miracle we need.”

Denis Healey (1917–2015) British Labour Party politician and Life peer

In an Ministerial broadcast on the Budget (6 April 1976).
1970s

Way

“If we look at the discipline of software engineering, we see that the microeconomics branch of economics deals more with the types of decisions we need to make as software engineers or managers.”

Barry Boehm (1935) American software engineer

Source: Software engineering economics. (1984), p. 4

Decision

“David Bromwich has wondered whether intellectuals today would oppose an economic slavery if it lacked any racial or cultural dimension.”

Russell Jacoby (1945) American historian

Source: The End of Utopia (1999), p. 40

“Adam Smith, who has strong claim to being both the Adam and the Smith of systematic economics, was a professor of moral philosophy and it was at that forge that economics was made. Even when I was a student, economics was still part of the moral sciences tripos at Cambridge University. It can claim to be a moral science, therefore, from its origin, if for no other reason. Nevertheless, for many economists the very term “moral science” will seem like a contradiction. We are strongly imbued today with the view that science should be wertfrei and we believe that science has achieved its triumph precisely because it has escaped the swaddling clothes of moral judgment and has only been able to take off into the vast universe of the “is” by escaping from the treacherous launching pad of the “ought.” Even economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.”

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

Source: 1960s, Economics As A Moral Science, 1969, p. 12

History, Strong, Learning, Universe

“The development of economics as a science which is always based on human beings, the creative actors and protagonists in all social processes and events (the subjectivist conception), is undoubtedly the most significant and characteristic contribution made by the Austrian School of economics, founded by Carl Menger. In fact Menger felt it vital to abandon the sterile objectivism of the classical (Anglo-Saxon) school whose members were obsessed with the supposed existence of external objective entities (social classes, aggregates, material factors of production, etc.). Menger held that economists should instead always adopt the subjectivist view of human beings who act, and that this perspective should invariably exert a decisive influence on the way all economic theories are formulated, in terms of their scientific content and their practical conclusions and results.”

Jesús Huerta de Soto (1956) professor of political economy and author

Jesús Huerta de Soto (2006), Money, Bank Credit, and Economic Cycles, p. 267, Note 3,

School, Way, Decision, Science

“I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.”

Gérard Debreu (1921–2004) French economist and mathematician

" Gerard Debreu - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1983/debreu-bio.html". in: Les Prix Nobel. The Nobel Prizes 1983, Editor Wilhelm Odelberg, [Nobel Foundation], Stockholm, 1984; Republished at Nobelprize.org. Nobel Media AB 2014.

Mathematics

“In place… of "elementary" education for nine-tenths of the children and "secondary" education for the exceptionally fortunate or the exceptionally able, we need to envisage education as two stages in a single course which will embrace the whole development of childhood and adolescence up to sixteen, and obliterate the vulgar irrelevances of class inequality and economic pressure in a new educational synthesis.”

R. H. Tawney (1880–1962) English philosopher

Secondary Education For All (1922)

Children, Education, Childhood

“We have defined the main task of economic analysis as the explanation of the magnitudes of economic quantities. The student will find also that the main part of this, as of most other works on the subject, is concerned with the theory of the determination of prices, wages, interest rates, incomes, and the like. He may well inquire, therefore, in the midst of so much mathematics, whether the first task of economics is not the investigation of wealth, or welfare. Some economists have endeavored to restrict the boundaries of the science to the investigation of those quantities which are numerically measurable. Well-being, under such a restriction, would not be part of economics at all.”

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

Source: 1940s, Economic Analysis, 1941, p. 7-8

Mathematics, Science, Parting, Wealth

“The tectonic shifts that gave rise to Trumpism have been gathering force over the last six decades. Over that time, the left won the cultural battle and the right won the economic battle, and Trumpism is a reaction against both.”

Clive Hamilton (1953) Australian economsit

Trumpism as Whitelash (November 19, 2016)

Time

“Freud, Galileo and Darwin told us, at different times and in different ways, that we are not the center of the universe; that we do not have control; that we do not fully understand our motivations; that we are not all that special. They did not have an easy time of it—for each society wants to believe that it can exercise control over its own destiny and over others. I suspect their findings apply not just to science or personal behavior, but to the way power and leverage can be exercised by nation states. Yours, I suspect, will be the first generation which will have to achieve results with neither military nor economic predominance—no matter where you sit.”

Eugene Rotberg (1930)

Informal remarks, University of Pennsylvania Law School. http://www.generotberg.com/speeches/2000s/Selected-from-Remarks-Penn-Law-092206.html, 2006

Way, Behavior, Exercises, Motivation

“The conference was not a lonely effort. None other than Israel’s President Moshe Katsav welcomed the attendees. Reflecting the predominant Jewish supremacist views among Israeli and American Jews, the conference was co-sponsored by the American Jewish Committee, the Israel Center for Social and Economic Progress, the Israeli Defense Ministry, the Jewish Agency, the World Zionist Organization, the National Security Center at Haifa University, and the Israeli National Security Council of the Prime Minister’s Office. The conference featured fifty speakers: senior government and military officials – including ex- and future prime ministers – university professors, business and media personalities, as well as American Jewish academics and operatives of the US Zionist lobby.”

Joseph Massad (1963) Associate Professor of Arab Studies

Ibid.
"The Ends of Zionism: Racism and the Palestinian Struggle"

World, Business, Effort, Universe

“In reference to dealing with black issues and dealing with issues that plague those minority communities, Donald Trump doesn't have a racist bone in his body. I know what real racism is. And Donald Trump is so far from it. Talking to him and his wonderful wife and his children is like hanging out with some friends of mine that are black … He's just that kind of a person. He is not uneasy around you. He's very relaxed… When Donald Trump talks about 'the blacks' he's talking about the blacks, the group as a whole. He's talking about the groups… No, it doesn't bother me, because I know Donald Trump. I know who he is. I know he is not at all speaking in any derogatory sense at all. He's simply talking to that ethnic group, the blacks or the whites… Even with a sitting black President, the racial tension in this country is at an all-time high. And I believe it's led by the Democratic party and led by President Barack Obama, and obviously Secretary Clinton desires to continue that torch, which I believe will lead us more and more into economic destruction, especially for minorities in this country… I have not experienced racist tension from Donald Trump. I'm from the South. Literally right over the next county, there are active KKK groups that parade their rebel flag on a daily basis… This is in 2016. Right now, today, with a sitting black President. So I know what real racism looks like. And it is not Donald Trump… Does he want it (ex-KKK leaders endorsement)? He said, 'No, I don't want it, I don't accept it.' … He doesn't stand for any hate groups, whether it be a Christian hate group or an Islam hate group. He's already stated this. Mr. Trump has already stated that there was a technical issue in the earpiece. I'm in television; I own a TV studio. I do know how technical issues can cause you to miss out on what someone is saying.”

Mark Burns (televangelist) (1979) Christian pastor and founder of the NOW Television Network

Interview, New York Daily News, 15 May 2016 http://www.nydailynews.com/news/politics/meet-female-muslim-mexican-american-trump-supporters-article-1.2637077

Hate, Children, Communication, Sense

“As have been indicated, many Fascist theoreticians, throughout their active political lives, acknowledged the affinities between Fascism and Marxist-Leninism. There were even Italian Marxist-Leninists--including Nicola Bombacci, one of the founders of his nation's Communist Party--who conceived of Fascism as the only viable form of Marxism for economically retrograde communities.”

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

Source: The Faces of Janus: Marxism and Fascism in the Twentieth Century, (2000), p. 168

Communication

“The war is relentless: it puts the alternative in a ruthless relief: either to perish, or to catch up with the advanced countries and outdistance them, too, in economic matters.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

The Impending Catastrophe and How to Fight It (1917).
1910s

War, Country

“Economics emphasizes competition, expansion, and domination; ecology emphasizes cooperation, conservation, and partnership.”

Fritjof Capra (1939) American physicist

Epilogue: Ecological Literacy
The Web of Life (1996)

Partnership

“Our combined endeavour should be to ensure that the rate of economic growth is sustained and it is socially inclusive; We must also ensure that every region of the country participates in and benefits from the process of economic growth.”

Pratibha Patil (1934) 12th President of India

Quoted in The Times of India, "Pratibha Patil sworn in as President" http://timesofindia.indiatimes.com/india/Pratibha-Patil-sworn-in-as-President/articleshow/2232871.cms, July 25, 2007.

Country

“Other than pleasure-seeking and consumerism, it seems that the only fruit of our social development is a cancerous overgrowth of "the rational economic man": maximize personal gain, and that's all.”

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

The Spiritual Landscape of the Urban Young in Post-Totalitarian China" (2004)
No Enemies, No Hate: Selected Essays and Poems

Pleasure, Personality

“The decisive weakness in neoclassical and neo-Keynesian economics is not the error in the assumptions by which it elides the problem of power. The capacity for erroneous belief is very great, especially where it coincides with convenience. Rather, in eliding power — in making economics a nonpolitical subject — neoclassical theory destroys its relation to the real world. In that world, power is decisive in what happens. And the problems of that world are increasing both in number and in the depth of their social affliction. In consequence, neoclassical and neo-Keynesian economics is relegating its players to the social sidelines where they either call no plays or use the wrong ones. To change the metaphor, they manipulate levers to which no machinery is attached.”

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

Power and the Useful Economist (1973)

World, Error, Problem, Decision

“Based upon evidence such as already presented, it appears feasible to set up criteria by which to determine when assignable causes of variation in quality have been eliminated so that the product may then be considered to be controlled within limits. This state of control appears to be, in general, a kind of limit to which we may expect to go economically in finding and removing causes of variability without changing a major portion of the manufacturing process as, for example, would be involved in the substitution of new materials or designs.”

Walter A. Shewhart (1891–1967) American statistician

Source: Economic Control of Quality of Manufactured Product,1931, p. 24

Appearance, Change

“It is a better world with some buffalo left in it, a richer world with some gorgeous canyons unmarred by signboards, hot-dog stands, super highways, or high-tension lines, undrowned by power or irrigation reservoirs. If we preserved as parks only those places that have no economic possibilities, we would have no parks. And in the decades to come, it will not be only the buffalo and the trumpeter swan who need sanctuaries. Our own species is going to need them too. It needs them now.”

Wallace Stegner (1909–1993) American historian, writer, and environmentalist

This is Dinosaur: Echo Park Country and its Magic Rivers is a collection of essays and photographs edited by Wallace Stegner and published by Alfred A. Knopf in 1955. This passage is from the collection's first essay, "The Marks of Human Passage", which is by Stegner (page 17).

World, Dogs

“We had to dispel the notion that the way to economic success lies through a sort of fiscal levitation. That was the abiding post-war delusion—that governments could spend and borrow their way to prosperity, and fine-tune the performance of the economy through something known pretentiously as demand management…It used to be an establishment nostrum that you need a budget deficit to get economic growth. That was the belief which lay behind the notorious letter by 364 economists in March 1981. We have given the lie to that, decisively. There can no longer be any argument about it. Everyone—or almost everyone—now accepts that the proper role of macro-economic policy is to keep downward pressure on inflation and to maintain a stable framework in which the private sector can expand.”

Nigel Lawson (1932) British Conservative politician and journalist

Nigel Lawson, Tax Reform: The Government's Record (Conservative Political Centre, June 1988).

War, Lie, Way, Decision

“Removal of the housing shortage through comprehensive new housing buildings throughout the Reich by means of the new non-profit Construction and Economic Bank to be created according to Art. 21.”

Gottfried Feder (1883–1941) German economist and politician

Source: The German State on a National and Socialist Foundation (1923), p. 55

Art, Housing

“A leader has to know how the system functions - not just the system of government but the whole social and economic system, including business, the unions, and the universities.”

Jean Chrétien (1934) 20th Prime Minister of Canada

Source: Straight From The Heart (1985), Chapter Three, The Business Of politics, p. 76

Business, Universe

“If the trend continues, Fiji will be left with a large pool of poorly educated, unskilled work force with disastrous consequences on our social and economic infrastructure and levels of investment.”

Mahendra Chaudhry (1942) Fijian politician

Comments on Fiji's high emigration rate (19 June 2005)

Education

“This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.”

Paul Krugman The Theory of Interstellar Trade

Of his paper "The Theory of Interstellar Trade"; quoted in The Economist, 26 October 2013, p. 86

“The second dimension is called "command," and it refers to those aspects of economic relationships that involve power, coercion, hierarchy, subordination, or authority. In capitalist (and many other) societies, command is a central aspect of the workplace, the household, and the government. It concerns relations among nations, classes, races, men, women, and other groups in society as well.”

Samuel Bowles (1939) American economist

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 54

Women, Men

“The Arabs had acquired Africans as slaves for centuries, but they were exploited in a feudal context. African slaves in Arab hands became domestics, soldiers, and agricultural serfs. Whatever surplus they produced was not for reinvestment and multiplication of capital, as in the West Indian or North American slave systems but for consumption by the feudal elite. Indeed, slaves were often maintained more for social prestige than for economic benefit.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 225.

“The invasion of Iraq was a bandit act, an act of blatant state terrorism, demonstrating absolute contempt for the concept of international law. The invasion was an arbitrary military action inspired by a series of lies upon lies and gross manipulation of the media and therefore of the public; an act intended to consolidate American military and economic control of the Middle East masquerading — as a last resort — all other justifications having failed to justify themselves — as liberation.”

Harold Pinter (1930–2008) playwright from England

Art, Truth & Politics (2005)

Law

“We usually find a considerable degree of correlation between indicators and also between different sets of weights that we should ever think of using. Consequently we are likely to find that alternative index numbers using different weights show similar and often approximately proportionate movements. That this is so in most economic applications is due to the nature of the actual world and not simply to the formal characteristics of index number techniques.”

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

Source: The Role of Measurement in Economics. 1951, p. 7; As cited in: Chao, Hsiang-Ke. Representation and structure: The methodology of econometric models of consumption. 2002.

World, Nature, Thinking

“Ultimately, the economic foundations of this country must be shaken if black people are to control their lives. The colonies of the United States—and this includes the black ghettoes within its borders, north and south—must be liberated. For a century, this nation has been like an octopus of exploitation, its tentacles stretching from Mississippi and Harlem to South America, the Middle East, southern Africa, and Vietnam; the form of exploitation varies from area to area but the essential result has been the same—a powerful few have been maintained and enriched at the expense of the poor and voiceless colored masses. This pattern must be broken.”

Stokely Carmichael (1941–1998) American activist

"What We Want," http://www.nybooks.com/articles/1966/09/22/what-we-want/ New York Review of Books, Septmber 22, 1966

People, Color, Country

“They are trying as directly as possible to sell you experiences, i. e. what you are able to do with the car, not the car as a product itself. An extreme example of this is this existing economic marketing concept, which basically evaluates the value of you as a potential consumer of your own life. Like how much are you worth, in the sense of all you will spend to buy back your own life as a certain quality life. You will spend so much in doctors, so much in beauty, so much in transcendental meditation, so much for music, and so on. What you are buying is a certain image and practice of your life. So what is your market potential, as a buyer of your own life in this sense?”

Slavoj Žižek (1949) Slovene philosopher

Interview in The Believer magazine, (July 2004) http://www.believermag.com/issues/200407/?read=interview_zizek

Life, Beauty, Music, Cars

“In the United States, … there prevails a simple faith that the formulae of the democratic state will solve all the social problems of humanity, even though their application be limited and hindered by an autocratic economic order.”

Harry F. Ward (1873–1966) American methodist minister

Source: The New Social Order (1920), pp. v-vi

Faith, Problem

“The genius of the corporation as a business form, and the reason for its remarkable rise over the last three centuries, was - and is - its capacity to combine the capital, and thus the economic power, of unlimited numbers of people.”

Joel Bakan (1959) Canadian writer, musician, filmmaker and legal scholar

Source: The Corporation: The Pathological Pursuit of Profit and Power (2004), Chapter 1, The Corporation's Rise To Dominance, p. 8

People, Business

“It is probable that when future historians of economic thought look back over this century, the thirties will appear as an era of rapid development in economic theory. Not only has there been unusual activity in monetary theory, theory of value. but extensive transformations have also been made in the basic theory of value. The outstanding publications in this field are, of course, Joan Robinson's Theory of Imperfect Competition and Chamberlin's Theory of Monopolistic Competition, the first produced in Cambridge, England, and the second in Cambridge, Massachusetts. These volumes mark the explicit recognition of the theory of the firm as an integral division of economic analysis upon which rests the whole fabric of equilibrium theory. General equilibrium is nothing more than the problem of the interaction of individual economic organisms, under various conditions and assumptions; as a necessary preliminary to its solution, an adequate theory of the individual organism itself is necessary.”

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

Source: 1940s, The theory of the firm in the last ten Years, 1942, p. 791

Problem, Appearance, Future

“Let me examine the alleged "distinction from capitalism" characteristic of the Soviet Union and see whether it isn't a distinction from a certain stage of capitalism rather than from capitalism as a whole. The determining factor in analyzing the class nature of a society is not whether the means of production are the private property of the capitalist class or are state-owned, but whether the means of production … are monopolized and alienated from the direct producers. The Soviet Government occupies in relation to the whole economic system the position which a capitalist occupies in relation to a single enterprise. … "Bureaucratic state socialism" is an irrational expression behind which there exists the real economic relation of state-capitalist-exploiter to the propertyless exploited.”

Raya Dunayevskaya (1910–1987) American philosopher

"The Union of Soviet Socialist Republics is a Capitalist Society" (1941), in Russia: From Proletarian Revolution to State-Capitalist Counter-Revolution (2017), p. 210

Nature

“Microeconomics, including the study of individual choice and of group choice in market and nonmarket processes, has generally been considered a field science as distinct from an experimental science. Hence microeconomics has sometimes been classified as "non-experimental" and closer methodologically to meteorology and astronomy than to physics and experimental psychology (Marschak, 1950, p. 3; Samuelson, 1973, p. 7). But the question of using experimental or nonexperimental techniques is largely a matter of cost, and generally the cost of conducting the most ambitious and informative experiments in astronomy, meteorology, and economics varies from prohibitive down to considerable. The cost of experimenting with different solar system planetary arrangements, different atmospheric conditions, and different national unemployment rates, each under suitable controls, must be regarded as prohibitive.”

Vernon L. Smith (1927) American economist

Source: "Relevance of laboratory experiments to testing resource allocation theory," 1980, p. 345.

Question, Study, Science

“Those involved in such disasters - the survivors - often use such larger-than-life circumstances in order to participate in affairs that seem to have greater import than those possessed by previous humdrum existences. They seek the excitement, whatever its consequences. They become a part of history to whatever extent. For once their private lives are identified with a greater source - and from it many derive new strength and vitality. Social barriers are dropped, economic positions forgotten. The range of private emotions is given greater, fuller, sweep.”

Jane Roberts (1929–1984) American Writer

Session 821, Page 99
The Individual and the Nature of Mass Events, (1981)

Life, History, Parting

“I am unable to watch the Olympics due to the blustering jingoism that drenches the event. Has England ever been quite so foul with patriotism? The "dazzling royals" have, quite naturally, hi-jacked the Olympics for their own empirical needs, and no oppositional voice is allowed in the free press. It is lethal to witness. As London is suddenly promoted as a super-wealth brand, the England outside London shivers beneath cutbacks, tight circumstances and economic disasters. Meanwhile the British media present 24-hour coverage of the "dazzling royals", laughing as they lavishly spend, as if such coverage is certain to make British society feel fully whole. In 2012, the British public is evidently assumed to be undersized pigmies, scarcely able to formulate thought.”

Morrissey (1959) English singer

from a statement on the website 'True To You' 2012
In interviews etc., About politics and society

Feeling, Nature, Wealth

“Plenty for everyone can be provided in the United States if the anarchistic economic freedom of the frontier is renounced and replaced by the higher freedom of collectivism, through the socialization of the basic industries and the approximate equalization of economic privilege.”

Kirby Page (1890–1957) American clergyman

Property (1935)

Freedom

“By stating that the analysis of the laws of motion governing the capitalist mode of production necessarily includes at least some essential elements of an analysis of economic phenomena valid for the whole historical epoch encompassing economic organizations in which commodity production exists, one extends the validity of parts of Marx’s Capital not only into the past but also into the future.”

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

Introduction to Capital. Introduction to volume 1 (1976)

Law, Past, Future, Parting

“[We may view the] economic organization as a system of prize relations. Seen in the large, free enterprise is an organization of production and distribution in which individuals or family units get their real income, their "living," by selling productive power for money to "business units" or "enterprises", and buying with the money income thus obtained the direct goods and services which they consume. This view, it will be remembered, ignores for the sake of simplicity the fact that an appreciable fraction of the productive power in use at any time is not really employed in satisfying current wants but to make provision for increased want-satisfaction in the future; it treats society as it would be, or would tend to become, with progress absent, or in a “static” state.”

Frank Knight (1885–1972) American economist

Source: The Economic Organization, 1933., p.59-60; on the circular-flow of income and the circular-flow diagram.

Money, Family, Business, Time

“Broadly speaking, the object of industry is to set up economic ways and means of satisfying human wants and in so doing to reduce everything possible to routines requiring a minimum amount of human effort.”

Walter A. Shewhart (1891–1967) American statistician

Source: Economic Control of Quality of Manufactured Product,1931, p. vii

Way, Effort

“The 2004 tour hasn't ended. I still have to finish Latin America and Europe. [Celia Cruz and I] were good friends. Emilio did her first video; we wrote a song for her. I would have loved to have had her there [when recording "90 Millas"]. But she was there. I felt her. That's the beauty of a legacy. Celia was economical and tasty in her choices. And in the pocket like you wouldn't believe? [Which means] It's like a rhythm, from son music. To have it it is to be locked in, like a tuned engine. Once you're in the pocket, you're free. That's why, for most of these songs, I sang and I sang until I had the emotion, then... one take. {Couldn't you be considered the heiress to Celia Cruz? ] you can't give youself a title! That's crazy! If I ever start talking like that, please put me out of my misery. I don't care if I'm 80, with my butt to my ankles, put me down.”

Gloria Estefan (1957) Cuban-American singer-songwriter, actress and divorciada

www.huffingtonpost.com (September 7, 2007)
2007, 2008

Love, Beauty, Music

“In brief, let us define the anarchist as a political individualist and an economic socialist. In contrast, the libertarian can be defined as an individualist, both politically and economically.”

Robert LeFevre (1911–1986) American libertarian businessman

Anarchy (1959)

“Although it is obvious that people acquire useful skills and knowledge, it is not obvious that these skills and knowledge are a form of capital, that this capital is in substantial part a product of deliberate investment, that it has grown in Western societies at a much faster rate than conventional (nonhuman) capital, and that this growth may well be the most distinctive feature of the economic system.”

Theodore Schultz (1902–1998) American economist

Source: "Investment in human capital," 1961, p. 1

People, Knowledge, Parting

“I think there are three possible scenarios for the future of Chinese writing, in all of which the government plays a major role. In the first, and at present apparently the least likely scenario, the government abandons its hostility to an expanded role for Pinyin and instead fosters a climate of digraphia and biliteracy in which those who can do so become literate in both characters and Pinyin, and those who cannot are at least literate in Pinyin. This is essentially a reversion to the Latinization movement of the 1930s and 1940s, when Mao Zedong and other high Communist Party officials like Xu Teli, the commissioner of education in Yan'an, lent their prestigious support to the New Writing. Such a change within the governing bureaucracy would in all likelihood result in an explosion of activity that might end in Pinyin ascendancy in use over characters in less than a generation.
In the second scenario the government adopts a policy of benign indifference that involves abandoning its hostility toward Pinyin but without actively supporting it, leaving it up to the rival protagonists of the two systems to contest for supremacy among themselves. This is likely to result in a somewhat longer struggle.
In the third scenario the government continues its present policy of repression, resulting in a much more protracted struggle (though surely not as long as the fascinating parallel struggle between Latin and Italian in Italy, where it took 500 [! ] years after Dante’s start in 1292 for academics, the last holdouts, to finally abandon their long resistance and start using Italian in university lectures).47 In this long struggle, PCs and mobile phones and other innovations still to come will undoubtedly allow more and more advocates of writing reform to escape the stranglehold of officialdom, to the point where (in a century or so?) characters are finally relegated to the status of Latin in the West.
My own view is that this is actually the least likely scenario, the most probable one being that the Chinese pragmatism that has manifested itself so strongly in economics will extend further into writing, and that, perhaps sooner rather than later, given the success of the promotion of Mandarin, some influential Party bureaucrats will finally arrive at the conclusion that the "some day in the future" anticipated by Mao has arrived, and that wholehearted Party support should now be unleashed for his anticipated "basic reform."”

John DeFrancis (1911–2009) American linguist

In any case it is basically all a matter of time. And the decisive factor that will seal the ultimate fate of Chinese characters is the new reality, noted by a perceptive observer, that "the PC is mightier than the Pen." "The Prospects for Chinese Writing Reform" (2006, p. 20-21) http://sino-platonic.org/complete/spp171_chinese_writing_reform.pdf "The Prospects for Chinese Writing Reform" (2006)

Hostility, Fate, Education, Support

“Revolutionary Social-Democracy has always included the struggle for reforms as part of its activities. But it utilises “economic” agitation for the purpose of presenting to the government, not only demands for all sorts of measures, but also (and primarily) the demand that it cease to be an autocratic government.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

What is to be Done? (1902)

Democracy, Parting

“Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on. We do need to intervene, to improve political and economic conditions inside countries that have bad governments, where people are suffering.
One way of doing this, without violating sovereignty, is through constructive actions — reinforcements and incentives for countries that are moving in the right direction, toward an open society, a market economy, et cetera. That is what I'm advocating. I'm advocating preventive action of a constructive nature. And I would use military force only as the very last resort, when nothing else works.”

George Soros (1930) Hungarian-American business magnate, investor, and philanthropist

BuzzFlash interview (2004)

People, World, Way, Democracy

“The global reach of Smith's moral and political reasoning is quite a distinctive feature of his thought, but it is strongly supplemented by his belief that all human beings are born with similar potential and, most importantly for policymaking, that the inequalities in the world reflect socially generated, rather than natural, disparities.
There is a vision here that has a remarkably current ring. The continuing global relevance of Smith's ideas is quite astonishing, and it is a tribute to the power of his mind that this global vision is so forcefully presented by someone who, a quarter of a millennium ago, lived most of his life in considerable seclusion in a tiny coastal Scottish town. Smith's analyses and explorations are of critical importance for any society in the world in which issues of morals, politics and economics receive attention. The Theory of Moral Sentiments is a global manifesto of profound significance to the interdependent world in which we live.”

Amartya Sen (1933) Indian economist

Amartya Sen, " The economist manifesto http://www.newstatesman.com/ideas/2010/04/smith-market-essay-sentiments", New Statesman (23 April 2010) 2010s

Life, World, Idea, Nature

“Ensour: The region’s political instability is expected to persist through 2015 and possibly escalate in coming years. Unsurprisingly, Jordan has been affected by the crisis and it remains a major challenge facing the economy. Since the conflict in Syria began five years ago, over 1.4m Syrians refugees have fled to Jordan and now account for about 20% of the kingdom’s population. Demand for services like health, education and electricity are soaring. For example, since the beginning of the crisis there has been a 20% increase in water consumption at the national level and a 40% jump in the north. Jordan is the second-most-water-scarce country in the world, so the economic implications of this burden are certain to weigh on foreign investors’ calculations. The global community must share this burden and more tangible support is needed to enhance Jordan’s resilience and maintain its position as the safe haven of the region.”

Abdullah Ensour (1939) prime minister of Jordan

Interview with Prime Minister Abdullah Ensour http://www.oxfordbusinessgroup.com/interview/acting-clear-vision-obg-talks-prime-minister-abdullah-ensour-0, Oxford Business Group.

Health, World, Education, Communication

“Those of your fellow countrymen who believe that France dreams or has dreams of the political or economic annihilation of Germany are mistaken…no reasonable Frenchman has ever dreamt of annexing a parcel of German territory.”

Raymond Poincaré (1860–1934) 10th President of the French Republic

Letter to British Prime Minister Ramsay MacDonald (25 February 1924), quoted in Anthony Adamthwaite, Grandeur and Misery: France's Bid for Power in Europe 1914-1940 (London: Arnold, 1995), p. 101.

Dreams

“While the Marxist faith in central planning is now confined to a few dingy sects, a quasi-religious belief in free markets continues to shape the policies of governments.Many writers have pointed to the havoc and ruin that have accompanied the imposition of free markets across the world. Whether in Africa, Asia, Latin America or post-communist Europe, policies of wholesale privatisation and structural adjustment have led to declining economic activity and social dislocation on a massive scale.”

John Gray (1948) British philosopher

"The end of the world as we know it," http://www.guardian.co.uk/books/2007/sep/15/politics The Guardian (2007-09-15)

World, Faith

“For, primarily, the immigrant comes here for economic reasons. If he is a dependent, there is no room for him. If he believes that in America one need not work, there is no room for him. If he has been taught that his labor is a commodity for sale, he must learn that labor is no more a commodity than management. It is the product of labor, the product of management, that is put up for sale. In the last analysis, it is man's intelligence that is purchased. Only in undeveloped countries can man be regarded as a beast of burden.”

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

1920s, Whose Country Is This? (1921)

Intelligence, Learning, Dependency, Country

“Lucas’s “Mechanics” Lectures caught the profession by surprise. His argument enraged some economists and startled or puzzled others. It was his first word on the subject of growth. It seemed to have come completely out of the blue. And even though his interest in the possibility of market failure seemed curiously in tune with fifty years of the Keynesian tradition, it was unfamiliar enough when expressed in the vernacular of Freshwater economics that the lectures at first caused more consternation than anything else, and in most quarters they were studiously ignored. A few young researchers, however, were galvanized into immediate action.
The notion that trade and migration must be strongly linked to economic growth was hardly new. Nor was the insight that cities must be central to economic progress. Perhaps the real news from Lucas’s lectures was his identification of lock-in as a potentially serious puzzle.”

David Warsh (1944) American journalist

David Warsh, Knowledge and The Wealth of Nations: A Story of Economic Discovery (2006), Ch. 19 : Recombinations

Failure

“David D. Friedman is the one of the most important living anarcho-capitalist philosophers. He has added a philosopher's insistence on consistency to the firm grasp of economic principles he presumably learned at the paternal knees.”

David D. Friedman (1945) American economist, physicist, legal scholar, and libertarian theorist

In The Pragmatist. (1998), Vol.14, p. 77
About

Learning

“Absolutely, what we need to do is that companies must just surrender 51%. … They have exploited the wealth of that country [South Africa] for far too long. It is time that the people are now beginning to benefit. Our people don't have money to buy those shares, and they will never have money to buy those shares. … Under president Mbeki they had 2/3 majority, they could have done anything they wanted. Till today they have not done anything. … because the ANC did not want to tamper with the economic structure and … property ownership … We are going to engage in a very persuasive, peaceful engagement with capital. … We are meeting captains of the industry. Some of them are beginning to respond to our memorandum. Some are saying, well these are doable proposals. … We'll not use that [civil disobedience] until that our people are pushed to the limit. … These people are prepared to give shares to the black elite who are politically connected. … why not give it to the workers themselves who are … making this company … what it is.”

Julius Malema (1981) South African political activist

In a television interview with Zeinab Badawi of BBC HARDtalk in December 2015, Watch: Julius Malema grilled by BBC journalist http://businesstech.co.za/news/government/106007/watch-julius-malema-grilled-by-bbc-journalist/, Staff writer, BusinessTech (2 December 2015)

Money, People, Peace, Time

“Cities are, first of all, seats of the highest economic division of labor. They produce thereby such extreme phenomena as in Paris the remunerative occupation of the quatorzième. They are persons who identify themselves by signs on their residences and who are ready at the dinner hour in correct attire, so that they can be quickly called upon if a dinner party should consist of thirteen persons. In the measure of its expansion, the city offers more and more the decisive conditions of the division of labor. It offers a circle which through its size can absorb a highly diverse variety of services.”

Georg Simmel (1858–1918) German sociologist, philosopher, and critic

Source: The Metropolis and Modern Life (1903), p. 420

Decision, Personality

“Industrial history shows that in modern competitive industry the motive of personal gain is most wastefully applied. On the one hand, the great mass of intelligent workers have no opportunity of securing an adequate reward for any special application of intelligence in mechanical invention or other improvement of industrial arts. Few great modern inventors have made money out of their inventions. On the other hand, the entrepreneur, with just enough business cunning to recognise the market value of an improvement, reaps a material reward which is often enormously in excess of what is economically required to induce him to apply his "business" qualities to the undertaking.”

J.A. Hobson (1858–1940) English economist, social scientist and critic of imperialism

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development

Money, Art, History, Intelligence

“Finding an alternative to supplement military ways of resolving international conflicts has been taken up by many people skilled in various areas such as political science, economics, social studies, modelling and simulation, intelligence and expert systems, military strategy and weaponry as well as private business and industry.”

Harold Chestnut (1917–2001) American engineer

Harold Chestnut, Peter Kopacek, Tibor Vámos (1989) International conflict resolution using system engineering: proceedings of the IFAC workshop, Budapest, Hungary, 5-8 June 1989. International Federation of Automatic Control.

People, Way, Intelligence, Business

“A movie should present its characters with a problem and then watch them solve it, not without difficulty. So says an old and reliable screenplay formula. Countless movies have been made about a boy and a girl who have a problem (they haven't slept with each other) and after difficulties (family, war, economic, health, rival lover, stupid misunderstanding) they solve it by sleeping with each other. Now we have a movie about two homosexuals that follows the same reliable convention.”

Roger Ebert (1942–2013) American film critic, author, journalist, and TV presenter

Review http://www.rogerebert.com/reviews/latter-days-2004 of Latter Days (13 February 2004) Reviews, Two-and-a-half star reviews

War, Health, Stupidity, Family

“The desire to economize time and mental effort in arithmetical computations, and to eliminate human liability to error is probably as old as the science of arithmetic itself.”

Howard H. Aiken (1900–1973) pioneer in computing, original conceptual designer behind IBM's Harvard Mark I computer

"Proposed Automatic Calculating Machine" (1937)

Error, Effort, Science, Time

“The word "vegetarian" derives from the Latin "vegetus"—whole, sound, fresh, lively. The meat humans eat is neither whole, sound, fresh or lively. It is dis-limbed, tainted, decaying, stale and dead. A diet consisting of green leafy vegetables, root crops, grains, berries, nuts and fruits supplies all the body needs for strength and well-being. It is healthful food, aesthetic, economical, harmless to our brother animals, easy to grow, to prepare and to digest. Flesh-eating by humans is unnecessary, irrational, anatomically unsound, unhealthy, unhygienic, uneconomic, unaesthetic, unkind and unethical.”

Helen Nearing (1904–1995) American writer

Source: Simple Food for the Good Life (1980), Ch. 4

Health, Food, Animals, Dead

“Since ’91, it was more of poker because again, it’s America, even today is much more powerful than all the enemies combined. It’s probably the first time after the collapse of the Soviet Union that the forces of freedom, the free world, had overwhelming military and economic advantage. And also politically, it dominated the field because even the worst dictatorships now they’re trying to pretend that they have elections. Not pressing it’s advantages looks quite odd because it again create this vacuum, and also I think it affects ordinary people in these countries. Whether it’s Iran, Arab countries, Russia, because they used to look at America as a beacon of freedom and the country that stood firm defending the free world. And now it’s quite odd because America is there, but America is not there. The whole stories about current political climate here and elections, they’re for the eroding reputation of the United States, and I think the damage caused by this administration to the prestige of the country, and especially to the prestige of the presidency, this damage could take years to recover and rebuild.”

Garry Kasparov (1963) former chess world champion

2010s, Interview with Bill Kristol (2016)

People, World, Thinking, Freedom

“We…would nevertheless make it clear that entirely independent political structures are impossible here [in the Baltic]…They cannot lead an isolated existence between the colossi of West and East. We hope that they will seek and find this support with us. The German occupation will have to continue for a long time, lest the anarchy we have just been combating should arise again. We shall have to safeguard the position of the Germans, a position consistent with their economic and cultural achievements…Herr Scheiddemann, said that we have made ourselves new enemies in the world through our push in the East…Had we continued the negotiations, we should still be sitting with Herr Trotski in Brest Litovsk. As it is, the advance has brought us peace in a few days and I think we should recognise this and not delude ourselves, particularly as regards the East, that if by resolutions made here in the Reichstag or through our Government's acceptance of the entirely welcome initiative of His Holiness the Pope, we had agreed to a peace without indemnities and annexations, we should have had peace in the East. In view of our situation as a whole, I should regard a fresh peace offer as an evil. My chief objection is against the detachment of the Belgian question from the whole complex of the question of peace. It is precisely if Belgium is not to be annexed that Belgium is the best dead pledge we hold, notably as regards England. The restoration of Belgium before we conclude peace with England seems to me an utter political and diplomatic impossibility…There is a great difference between the first set of terms at Brest-Litovsk and the ultimatum that we have now presented, and the blame for this change rests with those who refused to come to an agreement with Germany and who, consequently, must now feel her power. We are just as free to choose between understanding and the exploitation of victory in the case of the West, and I hope that these eight or fourteen days that have elapsed between the first set of peace terms in Brest-Litovsk and the second set, may also have an educational effect in that direction.”

Gustav Stresemann (1878–1929) German politician, statesman, and Nobel Peace Prize laureate

Speech in the Reichstag (25 February 1918), quoted in W. M. Knight-Patterson, Germany. From Defeat to Conquest 1913-1933 (London: George Allen and Unwin, 1945), pp. 159-160
1910s

World, Education, Peace, Hope

“I've been to Sarajevo a few times and have got to know a lot of people there who put on plays during the siege. I wanted to share in that because I knew it was important to them... I began to see something of what was going on there in terms of actually keeping up people's spirit to resist - the resistance that causes change - even in the worst imaginable circumstances. And I realized that it paralleled the same spirit that existed during the Holocaust and in the gulag. Theater and poetry were what helped people stay alive and want to go on living. That experience changed me, because I realized that if, as actors or writers or directors or designers, we can keep the will to resist alive in as many people as possible, then that's what we are about, and that's what we can do. It's more and more important because of the terrible things that are happening in our cities and the political and economic agendas that various governments have.”

Vanessa Redgrave (1937) English actress

Shawn, Wallace (April 1997), “Mission: possible - interview with actress Vanessa Redgrave” http://www.findarticles.com/p/articles/mi_m1285/is_n4_v27/ai_19382618, Interview.

People, Imagination, Change, Time

“The central economic imperative of the new economy is to amplify relationships.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

“This study partitions the total variance in rate of return among FTC Line of Business reporting units into industry factors (whatever their nature), time factors, factors associated with the corporate parent, and business-specific factors. Whereas Schmalensee (1985) reported that industry factors were the strongest, corporate and market share effects being extremely weak, this study distinguishes between stable and fluctuating effects and reaches markedly different conclusions. The data reveal negligible corporate effects, small stable industry effects, and very large stable business-unit effects. These results imply that the most important sources of economic rents are business-specific; industry membership is a much less important source and corporate parentage is quite unimportant.”

Richard Rumelt (1942) American economist

Source: "How Much Does Industry Matter?", 1991, p. 167; Abstract

Business, Nature, Parent, Study

“The Psychology of Delay. Some of the causes of delay in coming to economic decisions in our country seem to lie in the psychological realm. There is such a thing as the psychology of power which motivates people: power of control and patronage, power to delay an application, power to hold up a file, power to keep people waiting in an ante-room, all of which are consciously or subconsciously treated as symbols of prestige and hallmarks of importance.”

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

To The Central Advisory Council of Industries, New Delhi, January 3, 1969.
Keynote: Excerpts from his speeches and chairman's statements to shareholders

People, Lie, Motivation, Decision

“The Founding Fathers, those who wrote the Constitution and founded the American Republic, they understood the benefits of sound money and the evils of paper money. They’ve put America on a gold standard from the very birth of the republic and we should heed their wise - they were very learned men. I think they were much more educated and understanding about economics then the people who lead the U. S. today. So, to try to suggest that we will have less robust economy if we went back to gold standard - mostly, that’s propaganda from Central Bankers and politicians, who want to scare us from going back to something that works, because when you go back to free market, the politicians and bankers will lose their power, and they want to maintain their power by scaring people into thinking that if we just go back to freedom and market forces, that’s somehow is going to be bad and we have to surrender our freedoms to politicians and bankers because they know much better than the market. They can define the proper rate of interest and they can manage the money supplier, centrally planning the economy, and it’s going to be more effective than free market capitalism - and that is just not the case.”

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

http://blogcritics.org/politics/article/peter-schiff-for-us-senate/http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/
Economic Views

Men, Money, People, Education

“In all our plans for the future, we are re-defining and we are re-stating our Socialism in terms of the scientific revolution. But that revolution cannot become a reality unless we are prepared to make far-reaching changes in economic and social attitudes which permeate our whole system of society. The Britain that is going to be forged in the white heat of this revolution will be no place for restrictive practices or for outdated methods on either side of industry.”

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

Speech at Labour Party conference (1 October 1963), quoted in Labour Party Annual Conference Report, 1963, pp. 139-140. Usually quoted as "the white heat of the technological revolution".
Leader of the Opposition

Reality, Change, Future

“I believe that we must not waste this moment. A responsible foreign policy must look outward from a stance of forward engagement, to our broadest hopes for the world — not just inward, to our narrowest fears.
A responsible foreign policy must harness all our economic and military might — but it must also make use of our values and principles.”

Al Gore (1948) 45th Vice President of the United States

Quotes, IPI speech (2000)

World, Fear, Hope

“Income taxation appeals to the governing class because in its everlasting urgency for power it needs money. Income taxation appeals to the mass of people because it gives expression to their envy; it salves their sense of hurt. The only beneficiaries of income taxation are the politicians, for it not only gives them the means by which they can increase their emoluments but it also enables them to improve their importance. The have-nots who support the politicians in the demand for income taxation do so only because they hate the haves; although they delude themselves with the thought that they might get some of the pelt the fact is that the taxing of incomes cannot in any way improve their economic condition. So that, the sum of all the arguments for income taxation comes to political ambition and the sin of covetousness.”

Frank Chodorov (1887–1966) American libertarian thinker

Source: The Income Tax: Root of All Evil (1954), p. 27

Money, Hate, People, Way

“It is my firm belief that the only satisfactory test of economics is the ability to predict, and in crucial predictive situations such as reconversion after World War II, the settlement of the Korean War, the settlement of the Vietnam War, the abrupt economic policy switch of the Nixon Administration in August 1972, the oil shock of 1973 (forecast of a world-wide succession by LINK), the recession of 1990. In these crucial periods, econometric models outperformed other approaches, yet there is considerable room for improvement, and that is precisely what is being examined in development of high-frequency models that aim to forecast the economy, every week, every fortnight, or every month, depending on the degree of fineness of the information flow.”

Lawrence Klein (1920–2013) American economist

War, World, Success, Dependency

“Making a speech on economics is a lot like pissing down your leg. It seems hot to you, but it never does to anyone else.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

Private comment, as quoted in Name-Dropping (1999) by John Kenneth Galbraith, p. 149.

“My Marxist outlook pointed out to me with an illuminating clarity that women's liberation could take place only as the result of the victory of a new social order and a different economic system.”

Alexandra Kollontai (1872–1952) Soviet diplomat

The Autobiography of a Sexually Emancipated Communist Woman (1926)

Women, Victory

“Economics presents us with a powerful, and not necessarily complex, set of analytical tools that can be used to look back and explain why events unfolded the way they did; to look around and make sense of the world; and to look forward so that we can anticipate the effects of major policy changes. Economics is like gravity: Ignore it and you will be in for some rude surprises.”

Charles Wheelan (1966) American politician

Introduction
Naked Economics (rev. and updated ed., 2010)

World, Way, Sense, Change

“By dissolving nationalities, the liberal economic system had done its best to universalise enmity, to transform mankind into a horde of ravenous beasts (for what else are competitors?) who devour one another just because each has identical interests with all the others – after this preparatory[work there remained but one step to take before the goal was reached, the dissolution of the family. To accomplish this, economy’s own beautiful invention, the factory system, came to its aid.”

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

Nachdem die liberale Ökonomie ihr Bestes getan hatte, um durch die Auflösung der Nationalitäten die Feindschaft zu verallgemeinern, die Menschheit in eine Horde reißender Tiere - und was sind Konkurrenten anders?
zu verwandeln, die einander ebendeshalb auffressen, WEIL jeder mit allen andern gleiches Interesse hat, nach dieser Vorarbeit blieb ihr nur noch ein Schritt zum Ziele übrig, die Auflösung der Familie. Um diese durchzusetzen, kam ihr eine eigene schöne Erfindung, das Fabriksystem, zu Hülfe.
Outlines of a Critique of Political Economy (1844)

Family, Beauty

“Laissez-faire capitalism, or anarchocapitalism, is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men should exchange goods and services, without regulation, solely on the basis of value for value. It recognizes charity and communal enterprises as voluntary versions of this same ethic. Such a system would be straight barter, except for the widely felt need for a division of labor in which men, voluntarily, accept value tokens such as cash and credit. Economically, this system is anarchy, and proudly so.”

Karl Hess (1923–1994) American journalist

"The Death of Politics", essay in Playboy (March 1969) http://fare.tunes.org/books/Hess/dop.html; also available in Hess's autobiography, Mostly on the Edge.

Men, Communication

“With regard to men, he must know how to stimulate ambition, how to exercise discipline with firmness, and at the same time with sufficient kindness to insure the good-will and cooperation of all. The more thoroughly he is versed in questions of economics and sociology, the better prepared will he be to meet the problems that will daily confront him. As economic production depends not only on equipment and plant, but on the psychological effect of wage systems, he must be able to discriminate in regard to which wage system is best applicable to certain classes of product.”

Hugo Diemer (1870–1937) American mechanical engineer

Source: "Industrial Engineering," 1905, p. 67

Men, Exercises, Question, Problem

“Our school systems are all nonsynergetic. We take the whole child and fractionate the scope of his or her comprehending coordination by putting the children in elementary schools—to become preoccupied with elements or isolated facts only. Thereafter we force them to choose some specialization, forcing them to forget the whole. … We may well ask how it happened that the entire scheme of advanced education is devoted exclusively to ever narrower specialization. We find that the historical beginnings of schools and tutoring were established, and economically supported by illiterate and vastly ambitious warlords who required a wide variety of brain slaves with which to logistically and ballistically overwhelm those who opposed their expansion of physical conquest. They also simultaneously DIVIDED and CONQUERED any and all "bright ones" who might otherwise rise within their realms to threaten their supremacy. The warlord vitiated their threat by making them all specialists and reserving to himself exclusively the right to think about and act comprehensively. The warlord made all those about him differentiators and reserved the function of integration to himself.”

Buckminster Fuller (1895–1983) American architect, systems theorist, author, designer, inventor and futurist

Source: 1960s, Presentation to U.S. Congressional Sub-Committee on World Game (1969), p. 15

Children, Education, School, Support

Quotes about economics page 13

Quotes about economics
page 13