Quotes about economics (3228 quotes, page 19)

“Free trade is the serial killer of American manufacturing and the Trojan Horse of World Government. It is the primrose path to the loss of economic independence and national sovereignty. Free trade is a bright shining lie.”

Patrick Buchanan (1938) American politician and commentator

2000s, Where the Right Went Wrong (2004)

Lie , World , Loss , Horse

“You have a voice, which has been perhaps been quiescent on matters economic because you have in the past deferred to the authority of the economist. There is no reason to remain quiet.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 14, There Are Alternatives, p. 313

Past

“Thanks to the plan and clear vision, we managed to bring this people from dictatorship into democracy, without any bloodshed. Thanks to the plan and firm vision, we may show this country a way out form the biggest economic misery ever suffered by a European county, and into economic prosperity. But the vision is vital at all times. You should always ask yourself where you are heading to. Not only whether I am running fast, or spending energy, but whether I know which the goal I want to achieve is.”

Zoran Đinđić (1952–2003) Serbian politician

From Zoran Djindjic's speech at Democratic Party's Assembly, 04.10.2001.

People , Way , Democracy , Suffering

“My own position is somewhere in between. I am not sure that the economic arguments for an early step toward real union are very compelling. I have deep feelings, however, about the political necessity of creating in Western Europe an international framework which would bridge national sovereignties to such a degree as to give a different aspect to the German question by providing a home for the German people other than the national home and thus lifting German horizons beyond those national limits with which the Germans have shown themselves so incapable of coping.”

George F. Kennan (1904–2005) American advisor, diplomat, political scientist and historian

October 17-21, 1949
The Kennan Diaries

People , Feeling , Home , Question

“A rising economic tide is bad for people who live off of the poverty of others.”

Jonah Goldberg (1969) American political writer and pundit

February 2001 http://web.archive.org/web/20010105/www.jewishworldreview.com/cols/jonah021501.asp
2000s, 2001

People

“In central banking circles, it is viewed as obvious that the accumulation and destruction of reputational capital more closely resembles adaptive than rational expectations — it lags behind reality. Here, I think, the central bankers are closer to the truth than the economic theorists.”

Alan Blinder (1945) economist

Source: Central Banking in Theory and Practice. 1998, p. 52

Truth , Thinking , Reality

“Since the 1970s, interest in economic methodology has grown dramatically, to the extent that it is now possible to view methodology as a clearly identifiable sub-discipline within economics.”

Roger Backhouse (economist) (1951) British economist

Roger Backhouse, New directions in economic methodology. Vol. 3. Psychology Press, 1994. p. 1

“Central to this book is the further assumption that man is a rational utility maximizer in all areas of life, not just in his “economic” affairs, that is, not only when engaged in buying and selling in explicit markets. This idea goes back to jeremy Bentahm in the eighteenth and early nineteenth century, but received little attention from economists until the work of Gary Becker in th 1950s and 1960s.
The concept of man as a rational maximizer implies that people respond to incentives.(…) From this proposition derive the three fundamental principles of economics.”

Richard A. Posner (1939) United States federal judge

Source: Economic Analysis of Law (7th ed., 2007), Ch. 1: The Nature of Economic Reasoning

Life , People , Books , Idea

“Moral: To understand economics you need to know not only fundamentals but also its nuances. Darwin is in the nuances. When someone preaches “Economics in one lesson,” I advise: Go back for the second lesson.”

Paul A. Samuelson (1915–2009) American economist

New millennium, An Enjoyable Life Puzzling Over Modern Finance Theory, 2009

Understanding

“Methods by which engineers stabilise their mechanisms suggest analogous possibilities for stabilising economic systems.”

Arnold Tustin (1899–1994) British engineer

Arnold Tustin (1957) " The mechanism of economic instability http://books.google.com/books?id=Nou8mkjPMPUC&pg=PA8" in: New Scientist, Oct. 27, 1957. p. 8

“In the Autumn semester, 1955, I taught Principles of Economics, and found it a challenge to convey basic microeconomic theory to students. Why/how could any market approximate a competitive equilibrium? I resolved that on the first day of class the following semester, I would try running a market experiment that would give the students an opportunity to experience an actual market, and me the opportunity to observe one in which I knew, but they did not know what were the alleged driving conditions of supply and demand in that market”

Vernon L. Smith (1927) American economist

Vernon L. Smith (2002) in: " Vernon L. Smith - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2002/smith-bio.html". Nobelprize.org. Nobel Media AB 2013. Web. 13 Jun 2014.

Autumn

“Direct and unconcealed brute force and violence—although clearly persisting in many quarters of society—are today less acceptable to an increasingly sophisticated public, a public significantly remote from the methods of social and economic control common to early America. This is not a statement, however, that there is such increased civility that Americans can no longer tolerate social control of the country's under classes by force of violence; rather, it is an observation that Americans today appear to be more inclined to issue endorsement to agents and agencies of control which carry out the task, while permitting the benefactors of such control to retain a semidignified, clean-hands image of themselves.”

Huey P. Newton (1942–1989) Co-founder of the Black Panther Party

War Against the Panthers: A Study of Repression in America (June 1980)

Appearance , Country

“The collapse of communism as an ideology and of the Soviet Union as a world power has made possible an unprecedented internationalization of current American values, among them free choice in the consumer marketplace, reduced government economic regulation and an emphasis on individual self-fulfillment rather than the social good, all promoted by an internationalized mass media and consumer culture.”

Eric Foner (1943) American historian

2000s, The Century: A Nation's-Eye View (2002)

World , Communication

“I do not support raising the minimum wage, and the reason is as follows: When the minimum wage is raised, workers are priced out of the market. That is the economic reality that seems, at least so far, to be missing from this discussion.”

John E. Sununu (1964) American politician

A Minimum of Effort http://www.prospect.org/web/page.ww?section=root&name=ViewWeb&articleId=9310. The American Prospect. (March 10, 2005)

Support , Reality

“That combination, Hayek, Myrdal and Robinson, might have cast the contributions of each into sharper relief: three pioneers who, after important early contributions, gave up economics for political activism.”

David Warsh (1944) American journalist

"Ruizismus among the Austrians," 4 December 2011

“My first rule – the golden rule – ensures that over the economic cycle the Government will borrow only to invest, and that current spending will be met from taxation.”

Gordon Brown (1951) British Labour Party politician

Hansard, 6 ser, vol 297 col 304 (2 July 1997)
From Brown's first Budget speech.
Chancellor of the Exchequer

“Throughout the software life cycle, there are many decision situations involving limited resources in which software engineering economics techniques provide useful assistance.”

Barry Boehm (1935) American software engineer

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

Life , Decision

“A great nation is a compassionate nation. Who are the least of these? The least of these are those who still find themselves smothering in an airtight cage of poverty in an affluent society. Who are the least of these? They are the thousands of individuals who see life as a long and desolate corridor with no exit sign. Who are the least of these? They are the little boys and little girls who grow up with clouds of inferiority floating in their little mental skies because they know that they are caught in conditions of economic depravation. Who are the least of these? They are the individuals who are caught in the fatigue of despair. And somehow if we are to be a great nation, we must be concerned about the least of these, our brothers.”

Martin Luther King, Jr. (1929–1968) American clergyman, activist, and leader in the American Civil Rights Movement

1960s, Keep Moving From This Mountain (1965)

Life , Girl , Boy , Despair

“The dominant propaganda systems have appropriated the term "globalization" to refer to the specific version of international economic integration that they favor, which privileges the rights of investors and lenders, those of people being incidental. In accord with this usage, those who favor a different form of international integration, which privileges the rights of human beings, become "anti-globalist." This is simply vulgar propaganda, like the term "anti-Soviet" used by the most disgusting commissars to refer to dissidents. It is not only vulgar, but idiotic. Take the World Social Forum, called "anti-globalization" in the propaganda system -- which happens to include the media, the educated classes, etc., with rare exceptions. The WSF is a paradigm example of globalization. It is a gathering of huge numbers of people from all over the world, from just about every corner of life one can think of, apart from the extremely narrow, highly privileged elites who meet at the competing World Economic Forum, and are called "pro-globalization" by the propaganda system. An observer watching this farce from Mars would collapse in hysterical laughter at the antics of the educated classes.”

Noam Chomsky (1928) american linguist, philosopher and activist

Interview by Sniježana Matejčić, June 2005 http://www.galerija-rigo.hr/05/chomsky_en_2.htm.
Quotes 2000s, 2005

Life , People , World , Education

“Our country has deliberately undertaken a great social and economic experiment, noble in motive and far-reaching in purpose.”

Herbert Hoover (1874–1964) 31st President of the United States of America

On Prohibition; sometimes misquoted as referring to Prohibition as "a noble experiment"; reported as such in Paul F. Boller, Jr., and John George, They Never Said It: A Book of Fake Quotes, Misquotes, & Misleading Attributions (1989), p. 47-48.
The New Day: Campaign Speeches of Herbert Hoover (1928)

Motivation , Country

“The Modern Corporation has undermined the preconceptions of classic economic theory as effectively as the quantum undermined classic physics at the beginning of the 20th century.”

Gardiner C. Means (1896–1988) American economist

Source: The Corporate Revolution in America, 1957, p. 287

“Local economic independence cannot be preserved in the face of consolidations such as we have had during the past few years. The control of American business is steadily being transferred, I am sorry to have to say, from local communities to a few large cities in which central managers decide the policies and the fate of the far-flung enterprises they control. Millions of people depend helplessly on their judgment. Through monopolistic mergers the people are losing power to direct their own economic welfare. When they lose the power to direct their economic welfare, they also lose the means to direct their political future.”

Estes Kefauver (1903–1963) American politician

Senate Hearing, 1947, reported in Michael J. Sandel, Democracy's Discontent: America in Search of a Public Philosophy (1998), p. 243.

Fate , People , Communication , Business

“The continuance of India within the British Empire is essential to the Empire's existence and is consequently a paramount interest both of the United Kingdom and of the Dominions…for strategic purposes there is no half-way house between an India fully within the Empire and an India totally outside it…Should it once be admitted or proved that Indians cannot govern themselves except by leaving the Empire – in other words, that the necessary goal of political development for the most important section of His Majesty's non-European subjects is independence and not Dominion status – then the logically inevitable outcome will be the eventual and probably the rapid loss to the Empire of all its other non-European parts. It would extinguish the hope of a lasting union between "white" and "coloured" which the conception of a common subjectship to the King-Emperor affords and to which the development of the Empire hitherto has given the prospect of leading…In discussion of the wealth of India it is usual to forget the principal item, which is four hundred millions of human beings, for the most part belonging to races neither unintelligent nor slothful…[British policy should be to] create the preconditions of democracy and self-government by as soon as possible making India socially and economically a modern state.”

Enoch Powell (1912–1998) British politician

Memorandum on Indian Policy (16 May 1946), from Simon Heffer, Like the Roman. The Life of Enoch Powell (Phoenix, 1999), pp. 104-105.
1940s

Hope , Way , Democracy , Loss

“You can’t expect anything. In the Evil Dead movies you can only expect the unexpected. These were never designed to be a franchise. These were a very slow growing series of movies and the TV show was a natural outgrowth; it made more sense to do a TV show than a 75-million-dollar movie, for example. It’s dictated by economics and look, a lot of the difference between Army Of Darkness and now is that Army Of Darkness flopped, which most people forget; the series was dead after that. It took until the late nineties to rekindle it on DVD, so we’re actually really glad to celebrate the release of the Ash Vs Evil Dead DVD so DVD collectors can add it to the rest of the series.”

Bruce Campbell

Bruce Campbell interview: Ash Vs Evil Dead https://www.denofgeek.com/uk/tv/bruce-campbell/43298/bruce-campbell-interview-ash-vs-evil-dead (September 5, 2016)

People , Nature , Sense , Evil

“We are entitled to be disappointed, but not to be surprised, by the persistence of governmental intervention in economic life. A school of thought attributes great influence to public opinion in the movements toward or away from laissez-faire. Among the many members of this school one may mention Albert Venn Dicey, John Maynard Keynes, and Milton Friedman.”

George Stigler (1911–1991) American economist

"The Effect of Government on Economic Efficiency." 1988

Life , School , Disappointment

“Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.”

Paul A. Samuelson (1915–2009) American economist

Quoted in: Richard Duncan (2011) The Dollar Crisis, p. 232
New millennium

Support

“While we recognize that in the general development of history the material determines the mental and social being determines social consciousness, we also - and indeed must - recognize the reaction of mental on material things, of social consciousness on social being and of the superstructure on the economic base. This does not go against materialism; on the contrary, it avoids mechanical materialism and firmly upholds dialectical materialism.”

Mao Zedong book On Contradiction

On Contradiction (1937)

History

“The border position of geography between the natural and the social sciences is fairly generally recognized. Concerned primarily with differences in the different areas of the world, geography studies both natural and cultural features. In some universities, it is included among the natural sciences, in other among the social scientists. In England and America, geographers have particularly cultivated that portion of their field which leads naturally into economics, i. e. economic geography.”

Richard Hartshorne (1899–1992) American Geographer

R. Hartshorne (1935) "Recent Developments in Political Geography" The American Political Science Review Vol. 29 (5), p. 585

World , Nature , Study , Universe

“The striking parallel between the economic models that are currently under discussion and some engineering systems suggests the hope that in some way the rapid progress in the development of the theory and practice of automatic control in the world of engineering may contribute to the solution of the economic problems.”

Arnold Tustin (1899–1994) British engineer

Source: The Mechanism of Economic Systems (1953), p. 1

World , Hope , Way , Problem

“First, most of the speculation about the superiority of the communist system - including the popular view that Western economies could painlessly accelerate their own growth by borrowing some aspects of that system - was off base. Rapid Soviet economic growth was based entirely on one attribute: the willingness to save, to sacrifice current consumption for the sake of future production. The communist example offered no hint of a free lunch.
Second, the economic analysis of communist countries' growth implied some future limits to their industrial expansion - in other words, implied that a naive projection of their past growth rates into the future was likely to greatly overstate their real prospects. Economic growth that is based on expansion of inputs, rather than on growth in output per unit of input, is inevitably subject to diminishing returns. It was simply not possible for the Soviet economies to sustain the rates of growth of labor force participation, average education levels, and above all the physical capital stock that had prevailed in previous years. Communist growth would predictably slow down, perhaps drastically.”

Paul Krugman (1953) American economist

Pop Internationalism (1996), Asia's Miracle (1994)

Education , Past , Future , Country

“I do not mean to say that formal economic analysis is worthless, and that anybody's opinion on economic matters is as good as anyone else's. On the contrary! I am a strong believer in the importance of models, which are to our minds what spear-throwers were to stone age arms: they greatly extend the power and range of our insight. In particular, I have no sympathy for those people who criticize the unrealistic simplifications of model-builders, and imagine that they achieve greater sophistication by avoiding stating their assumptions clearly. The point is to realize that economic models are metaphors, not truth. By all means express your thoughts in models, as pretty as possible (more on that below). But always remember that you may have gotten the metaphor wrong, and that someone else with a different metaphor may be seeing something that you are missing.”

Paul Krugman (1953) American economist

" How I Work http://web.mit.edu/krugman/www/howiwork.html", American Economist (1993)

People , Truth , Age , Imagination

“Official opposition to overall economic planning and planning controls has been characterized in a recent editorial as "Papa knows best". But it is precisely because Papa does not know best that I believe that Government should not presume to tell any businessman or industrialist what he should or should not do, far less what he may or not do; and no matter how it may be dressed up that is what planning is.”

John James Cowperthwaite (1915–2006) British colonial administrator

March 30, 1962, page 133.
Official Report of Proceedings of the Hong Kong Legislative Council

“The proprietor should always direct his attention to obtain from his land a gradual increase of produce, or to augment its value continually. The farmer only desires the greatest profit during the continuance of his lease, without caring for the value of the land afterwards. "Whilst the proprietor can content himself with a trifling produce during a few years, in order to attain greater and more durable profit subsequently, the tenant must, on the contrary, endeavour to obtain the greatest produce, even though its amount should be diminished during the latter years of his lease; because the proprietor who wishes to farm on the best system, finds at the same time both pleasure and profit in laying out on his property as much capital as he can spare, whilst the tenant, on the contrary, withdraws as much of his pecuniary resources as possible, to employ it in other ways, or to place it at interest. The improvement of the land constitutes the pleasure of the proprietor, while the mere occupying farmer only thinks of augmenting his income. Thus the longer the lease may be, the more do the interests of the landlord and tenant become identified; the shorter the term, the more conflicting are those interests. With a lease of 24 years, a tenant ought, at least during the first two-thirds of its duration, to follow out the views of the proprietor. But the time will come when he will act on different principles, and endeavour to extract from the land a return in proportion to his outlay at the commencement.
To this must be added, that a tenant cannot have the means of laying out so much on the land as the proprietor, even if he wished to do so. The latter must pay the rent, whilst a proprietor anxious to improve can economize something from the net produce to expend on his property. The first may be compared to a merchant who trades on borrowed money; the second to one who speculates with his own funds. The former must first provide for his rent, the latter need only think of extending his speculations.”

Albrecht Thaer (1752–1828) German agronomist and an avid supporter of the humus theory for plant nutrition

Thaer, cited in: Joseph Rogers Farmers Magazine Volume The Seventh http://books.google.com/books?id=8OnG6xwQkesC&pg=PA263, 1843, p. 263: Speaking of lease and covenants

Money , Pleasure , Way , Thinking

“The cataclysmic force that hit our country requires serious response to influence significant rehabilitation and reconstruction of the communities barreled by catastrophes. We need to infuse major financial foundation to recoup and retain the physical, economic and social viability of these communities.”

Francis Escudero (1969) Filipino politician

Interaksyon http://www.interaksyon.com/article/75681/senate-approves-2014-national-budget-on-third-and-final-reading
2013

Communication , Country

“If we were to ask which country is the most corrupt in the world, the first answer to come to mind would be dictated by the perceived level of corruption. Perhaps one might think of Mexico, of South American countries, of African countries, of the Middle East or Italy. But the most corrupt is the UK. It’s not a type of a corruption that concerns civil servants, policemen or mayors; it’s a type of a corruption that is consubstantial to economic system. The British economic system feeds itself on corruption. And in the midst of this, the British government and its citizens have not woken up to the plight that their country is going through. A plight greater than earthquakes, greater than terror attacks.”

Roberto Saviano (1979) Italian journalist, writer and essayist

Dirty Money in London event (2016)

World , Thinking , Country

“Since institutional economics is behavioristic, and the behavior in question is none other than the behavior of individuals while participating in transactions, institutional economics must make an analysis of the economic behavior of individuals.”

John R. Commons (1862–1945) United States institutional economist and labor historian

Source: "Institutional Economics," 1931, p. 654

Behavior , Question

“The most economical way of obtaining good results is to apply the great, fundamental principles of art; and depend on them for beauty, rather than upon the use of either applied ornament or more expensive materials… much better results are likely to accrue from truth than falsehood, and from architectural [rather] than archaeological methods.”

Ernest Flagg (1857–1947) American architect

Introduction
Small Houses: Their Economic Design and Construction (1922)

Truth , Beauty , Art , Way

“I did, and still do, think that New Classical Economics has quite a bit in common with the Austrians (so did Robert Lucas, and I am surprised to find that I did not refer to this in the early 1980s, so I was either careless or did not know about it until a bit later).”

David Laidler (1938) Canadian economist

"The 1974 Hayek–Myrdal Nobel Prize", in Hayek: A Collaborative Biography: Part 1 Influences from Mises to Bartley edited by Robert Leeson (2013)

Thinking

“Nineteenth-century civilization rested on four institutions. The first was the balance-of-power system which for a century prevented the occurrence of any long and devastating war between the Great Powers. The second was the international gold standard which symbolized a unique organization of world economy. The third was the self-regulating market which produced an unheard-of material welfare. The fourth was the liberal state. Classified in one way, two of these institutions were economic, two political. Classified in another way, two of them were national, two international. Between them they determined the characteristic outlines of the history of our civilization.
Of these institutions the gold standard proved crucial; its fall was the proximate cause of the catastrophe. By the time it failed, most of the other institutions had been sacrificed in a vain effort to save it. But the fount and matrix of the system was the self-regulating market. It was this innovation which gave rise to a specific civilization.”

Karl Polanyi book The Great Transformation

The Great Transformation (1944), Ch. 1 : The Hundred Years' Peace

War , World , Way , History

“People, especially liberals and psychiatrists, say that the two main causes of crime are mental illness and poverty. Insanity is therefore a defense in the criminal law. If we really believed that poverty caused crime, we would have a "poverty defense" as well, attorneys calling professors of economics to testify in court whether a particular defendant is guilty of theft or not by reason of poverty.”

Thomas Szasz (1920–2012) Hungarian psychiatrist

The Untamed Tongue: A Dissenting Dictionary (1990)

People , Law

“Our constitutional history started with the States retaining all powers of sovereignty unimpaired, save those conferred upon the National Government. The evolution of the constitutional system has consisted largely in determining the line of demarcation between State and national authority. The cases involved are many and complicated, but there is a fairly good popular understanding of this continuing struggle between these contending sovereignties. Because of better communication and transportation, the constant tendency has been to more and more social and economic unification. The present continent-wide union of forty-eight States is much closer than was the original group of thirteen States.”

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

1920s, The Reign of Law (1925)

History , Communication , Understanding

“Anti-colonialism has been economically catastrophic for the Indian people for decades. Why stop now?”

Marc Andreessen (1971) American entrepreneur, investor, and software engineer

Source: On the Indian rejection of Free Basics, Twitter, February 20, 2016 - http://thenextweb.com/in/2016/02/10/marc-andreessen-just-offended-1-billion-indians-with-a-single-tweet/

People

“[This work urges] a clearer separation, in the construction of economic knowledge, between reasoning and recognition of facts, for the better protection of both.”

Tjalling Koopmans (1910–1985) Dutch American economist

Source: Three Essays (1957), p. viii

Knowledge

“Our debt to Hayek is very substantial. He helped to establish a freedom-based approach of evaluation through which economic systems can be judged (no matter what substantive judgments we arrive at). He pointed to the importance of identifying those services that the state can perform well and has a social duty to undertake. Finally, he showed why administrative psychology and propensities to corruptibility have to be considered in determining how states can, or cannot, work and how the world can, or cannot, be run.”

Amartya Sen (1933) Indian economist

"An insight into the purpose of prosperity", Financial Times (September 20, 2004)
2000s, "An insight into the purpose of prosperity," 2004

World , Freedom , Help

“Some economists also use the terms Fordism and pos-Fordism to mark the shift from an economy characterized by the stable-long-term employment typical of factory workers to one marked by flexible, mobile, and precarious labor relations: flexible because workers have to adapt to different tasks, mobile because workers have to move frequently between jobs, and precarious because no contracts guarantee stable, long-term employment. Whereas economic modernization, which developed Fordist labor relations, centered on the conomies of scale and larga systems of production and exchange, economic postmodernization, with its post-Fordist labor relations, develops smaller-scale, flexible systems.”

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

112
Multitude: War and Democracy in the Age of Empire

“You have no idea how far state control goes and how much power the Nazi representatives have over our work... In this respect they certainly differ from the former Social-Democratic officials. These Nazi radicals think of nothing except ‘distributing the wealth.’ Some businessmen have even started studying Marxist theories, so that they will have a better understanding of the present economic system.”

Günter Reimann (1904–2005) German economist

Source: The Vampire Economy: Doing Business Under Fascism, 2014, p. 6 (letter from a German businessman)

Idea , Understanding , Thinking , Study

“This economic pie that is getting ready to explode before our eyes is going to be shared equally.”

Ray Nagin (1956) politician, businessman

Speech after making into run off for mayor, April 23, 2006. http://cbs4boston.com/katrina/hurricanekatrina_story_112152722.html
2006

“I have never seen economic deprivation. I was born in a rich family and brought up that way too. I have not seen a cash crunch. But, I firmly believe that whether you come from a traditionally rich family or poor family, what matters more for one's progress in politics is your sentiments for the people, your talent and a constant belief in your convictions.”

Amit Shah (1964) Indian politician

"Exclusive Amit Shah Interview: People are waiting to vote for Modi," 2013

People , Family , Way

“The free trade agreement that we will have to do with the European Union should be one of the easiest in human history…/ /…. The only reason that we wouldn’t come to a free and open agreement is because politics gets in the way of economics.”

Liam Fox (1961) British Conservative politician

BBC Today programme https://www.bbc.co.uk/news/av/uk-40667879/eu-trade-deal-easiest-in-human-history (20 July 2017)
2017

Way , History

“The proposition that markets drive economic efficiency is central to much of economics. Adam Smith illustrated that the “invisible hand” of the market drives efficient allocation of resources in a system of division of labor. Friedrich Hayek illustrated the central importance of the price system as an information processing mechanism more powerful than any centrally planned system could ever be. Kenneth Arrow and Gerard Debreu illustrated that complete and perfect markets deliver a Pareto-efficient equilibrium, in which no one person can be made better off without making someone else worse off. And the development of the efficient- market and rational- expectations hypotheses suggested that financial markets are in fact efficient, and that the conditions required for efficiency and for rational and stable equilibria apply even in contracts between the present and the future, which financial markets provide.”

Adair Turner, Baron Turner of Ecchinswell (1955) British businessman

Source: Economics after the crisis : objectives and means (2012), Ch. 2 : Financial Markets: Efficiency, Stability, and Income Distribution

Future , Personality , Perfection

“I've seen anti-Semitism essentially disappear in my adult life as a social and economic factor. There may be some nuts out there, but generally things are fine. I think the same thing will happen with gayness. We'll get to a point soon enough where it's not even an issue anymore. But progress can be slow. I filed my first gay rights bills in 1972 in Massachusetts. Forty years later, it would be nice to have this wrapped up and put to bed.”

Barney Frank (1940) American politician, former member of the House of Representatives for Massachusetts

Quoted in [Denizet-Lewis, Benoit, 3 December 2008, http://www.advocate.com/print_article_ektid67124.asp, "Harrumph!", w:The Advocate, Advocate.com, 2008-12-12]

Life , Thinking

“Economics should be under no illusion that central banking will ever become a science.”

Jürg Niehans (1919–2007) Swiss economist

Source: The theory of money, 1978, p. 296

Science

“Because of the economic crisis, China and the United States are bound together. This is a totally new phenomenon, and nobody will fight for ideology anymore. It’s all about business.”

Ai Weiwei (1957) Chinese concept artist

2000-09, Who Is Ai Weiwei?, 2009

Business , Fight

“Whenever I draw up economic policy I look at it from the point of view of the person who has nothing; I look at it from the point of view of my farther who tried to get a job but could not.”

Harry Schwarz (1924–2010) South African activist

Sunday Times (18 November 1990).
Parliament (1974-1991)
Source: http://www.samedia.uovs.ac.za/cgi-bin/getpdf?id=2056613

Drawing , Personality

“Say, take Rachel Corrie, local young woman, she was extremely courageous. She's a martyr for peace and justice. We happened to kill her too, even if we don't like to admit it. She was killed by U. S. sent equipment, which is Caterpillar…
[Q: you draw that line right back to you and me sitting here? ] Absolutely, we're responsible for it. I mean, we didn't drive the bulldozer, but why is it there? What's it doing? Who provides the military, economic, and diplomatic support for destroying the occupied territories?”

Noam Chomsky (1928) american linguist, philosopher and activist

Quotes 2000s, 2005, Interview by Steve Scher on KUOW, 2004

Peace , Justice , Courage , Support

“Economically and politically, Britain can get along with double digit unemployment.”

Nigel Lawson (1932) British Conservative politician and journalist

Interview with George F. Will (December 1984), quoted in William Keegan, Mr Lawson's Gamble (London: Hodder & Stoughton, 1989), p. 140.

“... The imperialism of the bureaucratic-collectivist states is different from that of the capitalist states. But the economic motive forces behind the one are no less powerful than in the case of the other. Only ignoramuses – people who know nothing about history and nothing about Lenin's theory of imperialism – can conceive of imperialism as a phenomenon unique to capitalist society.”

Max Shachtman (1904–1972) American Marxist theorist

Socialist Policy and the War in New International p. 200, 1951

People , History , Motivation

“It is not in our interest to govern you. We would like you to govern yourselves in your own country. A democratic Palestinian state with territorial contiguity in Judea and Samaria and economic viability, which would conduct normal relations of tranquility, security and peace with Israel. Abandon the path of terror and let us together stop the bloodshed. Let us move forward together towards peace.”

Ariel Sharon (1928–2014) prime minister of Israel and Israeli general

Address by Prime Minister Ariel Sharon at the Fourth Herzliya Conference, December 18, 2003; cited in: Terje Rød-Larsen, ‎Fabrice Aidan, ‎Nur Laiq (2014), The Search for Peace in the Arab-Israeli Conflict. p. 373
2000s

Peace , Country

“Writing in 1944, the year of the Bretton Woods Conference, Polanyi suggested that the extension of the institutions of the market over the course of the nineteenth century aroused a political reaction in the form of associations and lobbies that ultimately undermined the stability of the market system. He gave the gold standard a place of prominence among the institutions of laissez faire in response to which this reaction had taken place. And he suggested that the opening of national economic decision making to parties representing working-class interests had contributed to the downfall of that international monetary system. In a sense, this book asks whether Polanyi’s thesis stands the test of time. Can the international monetary history of the second half of the twentieth century be understood as the further unfolding of Polanyian dynamics, in which democratization again came into conflict with economic liberalization in the form of free capital mobility and fixed exchange rates? Or do recent trends toward floating rates and monetary unification point to ways of reconciling freedom and stability in the two domains?”

Barry Eichengreen Introduction

Source: Globalizing Capital (2008), Chapter 1. Introduction

Books , Way , History , Decision

“Our presence will serve as an incentive for al Qaeda to grow in numbers and motivate more suicide bombers. An indefinite presence, whether in Iraq, Afghanistan, or Pakistan, will continue to drain our financial resources, undermine our national defense, demoralize our military and exacerbate our financial crisis. All this will be welcomed by Osama Bin Laden, just as he planned it. It's actually more than he had hoped for. […] The war in Afghanistan and Pakistan will be much bigger, unless the dollar follows the path of the dollar-based world financial system and collapses into runaway inflation. In this case, the laws of economics and the realities of history will prove superior to the madness of maintaining a world empire financed by scraps of paper. Our military prowess, backed by a nuclear arsenal, will not suffice in overcoming the tragedy of a currency crisis. Soviet nukes did not preserve its empire or the communist economy.”

Ron Paul (1935) American politician and physician

The end is not near https://www.youtube.com/watch?v=WuPeExhmuQQ, (4 March 2009)
2000s, 2006-2009

War , World , Law , Hope

“Tell the merchant that he must not rely for one moment on the Home Rulers for any one thing that is wise and good, nor indeed on any political combination of Irishmen. They have never yet done anything for themselves or their country and have never yet as a party shown what ought to be done. The absence of political and economical knowledge in Ireland is remarkable, and what there is of a sensible middle class is apparently crushed or smothered by the extreme men, who are always in pursuit of some phantom and who seem not to know the substance even when they see it.”

John Bright (1811–1889) British Radical and Liberal statesman

Letter to Mr. O'Donoghue (15 March 1874), quoted in G. M. Trevelyan, The Life of John Bright (London: Constable, 1913), p. 445
1870s

Men , Home , Knowledge , Country

“Both as ruling and ruled strata and both as a majority and minority, Protestants… have demonstrated a specific tendency toward economic rationalism. This tendency has not been observed in the same way in the present or the past among Catholics, regardless of whether they were the dominant or dominated stratum or constituted a majority or minority. Therefore the cause of the different behavior must be mainly sought in the enduring inner quality of these religions and not only in their respective historical-political external situations.”

Max Weber book The Protestant Ethic and the Spirit of Capitalism

Source: The Protestant Ethic and the Spirit of Capitalism (1905; 1920), Ch. 1 : Religious Affiliation and Social Stratification

Religion , Way , Behavior , Past

“The attack on economics sprang rather from a dislike of the application of scientific methods to the investigation of social problems. The existence of a body of reasoning which prevented people from following their first impulsive reactions, and which compelled them to balance indirect effects, which could be seen only by exercising the intellect, against intense feeling caused by the direct observation of concrete suffering, then as now, occasioned intense resentment.”

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

"The Trend of Economic Thinking", lecture delivered at LSE on March 1, 1933, published in Economica (May 1933)
1920s–1930s

People , Feeling , Exercises , Problem

“Economics today rides the crest of intellectual respectability and popular acclaim. The serious attention with which our pronouncements are received by the general public, hard-bitten politicians, and even skeptical businessmen is second only to that which was given to physicists and space experts a few years ago when the round trip to the moon seemed to be our only truly national goal.”

Wassily Leontief (1906–1999) Russian economist

Source: "Theoretical assumptions and nonobserved facts," 1971, p. 1: Start of lead paragraph

“The critical things to watch out for aren't the rare big events, such as the 2008 bailout of the Street itself, but the ongoing multitude of small rule changes that continuously alter the economic game. … The "free market" is a myth that prevents us from examining these rule changes and asking whom they serve. The myth is therefore highly useful to those who do not wish such an examination to be undertaken.”

Robert B. Reich (1946) American political economist

Saving Capitalism: For the Many, Not the Few (2015)

Game , Change

“Well, as a militant feminist, I believe in complete equality with men: intellectual, professional, economic, social and sexual; they're all equally essential, and they're all equally lacking in American society today.”

Madalyn Murray O'Hair (1919–1995) Atheist activist

"Playboy Interview: Madalyn Murray", Playboy (October 1965)

Men

“Feminism is the struggle to end sexist oppression. Therefore, it is necessarily a struggle to eradicate the ideology of domination that permeates Western culture on various levels, as well as a commitment to reorganizing society so that the self-development of people can take precedence over imperialism, economic expansion, and material desires.”

Bell Hooks (1952) American author, feminist, and social activist

(1984)

People

“Synergy is the only word in our language which identifies the meaning for which it stands. Since the word is unknown to the average public, as I have already pointed out, it is not at all surprising that synergy has not been included in the economic accounting of our wealth transactions or in assessing our common wealth capabilities.”

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

1960s, Operating Manual for Spaceship Earth (1963)

Wealth

“The reality is that we are dealing with the legacy of Apartheid. The economy of Apartheid was racially skewed and structured to take care of the minority, not the majority of the country. Everything you look at, be [it] the infrastructure, or energy, or economic […], it was all based on wrong and distorted ideology. When commentators comment on this matter of […] energy, they forget this and want to put the blame to a democratic government. … before 1994 there was a wrong belief that energy in South Africa was in abundance, … It was a mistaken view. It was because energy was made to serve a few. Immediately after 1994 when we had to grow the economy to the size of the population, … when we had to implement the constitution … and therefore rolled out […] electricity to the remotest areas of this country, suddenly we realised we don't have enough energy …, because we're now applying energy not in a false belief, but to [the] reality of the demand of the country.”

Jacob Zuma (1942) 4th President of South Africa

On 10 January 2015 at Cape Town Stadium during the ANC's 103rd anniversary celebrations, 2015, Year of the Freedom Charter http://www.sanews.gov.za/South-africa/president-2015-year-freedom-charter

Reality , Falseness , Country , Forgetting

“Environmental law, policy, and progress are all based on cooperation: cooperation between the States, cooperation between the States and EPA, and cooperation between the regulators and the public. Such cooperation is essential because clean air and water and a healthy environment are essential to the American way of life and key to our economic success and competitiveness. We should be proud of the progress we have made as a Nation in emphasizing environmental stewardship while also growing our economy. If confirmed as Administrator, I will work tireless to build on such progress in promoting a healthier environment and stronger economy for future generations by focusing on three core philosophies: rule of law, cooperative federalism, and public participation.”

Scott Pruitt (1968) 14th and current Administrator of the EPA; former Attorney General from Oklahoma

Senate Confirmation Hearing Opening Statement https://www.epw.senate.gov/public/_cache/files/0e505de4-aa91-4dcc-ba23-dc9ddab01c0b/scott-pruitt-opening-statement-final-.pdf (January 18, 2017)

Life , Law , Way , Water

“As long as the sun rises over Ontario and sets over the Pacific, I will dedicate myself to bringing the people of Oregon what they want and need most - an era of hope, change, and economic renewal.”

Ted Kulongoski (1940) American politician

Ted Kulongoski, (January 13, 2003). " Speech by Governor Kulongoski: Inaugural Address http://governor.oregon.gov/Gov/speech/speech_011303.shtml", Oregon.gov, State of Oregon.

People , Hope , Change , Sun

“The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.”

Benjamin Graham (1894–1976) American investor

Part V, Chapter XIX, The Reservoir Plan and Tradition, p. 232
Storage and Stability (1937)

Democracy

“This subject of Planning in the economic sphere is discussed in a separate paper. We will here deal only with the spiritual angle.”

Peter de Noronha (1897–1970) Indian businessman

The Pageant of Life (1964), On Planning for a Better World

“By any precise definition, Washington is a city of advanced depravity. There one meets and dines with the truly great killers of the age, but only the quirkily fastidious are offended, for the killers are urbane and learned gentlemen who discuss their work with wit and charm and know which tool to use on the escargots.
On New York's East Side one occasionally meets a person so palpably evil as to be fascinatingly irresistible. There is a smell of power and danger on these people, and one may be horrified, exhilarated, disgusted or mesmerized by the awful possibilities they suggest, but never simply depressed.
Depression comes in the presence of depravity that makes no pretense about itself, a kind of depravity that says, "You and I, we are base, ugly, tasteless, cruel and beastly; let's admit it and have a good wallow."
That is how Times Square speaks. And not only Times Square. Few cities in the country lack the same amenities. Pornography, prostitution, massage parlors, hard-core movies, narcotics dealers — all seem to be inescapable and permanent results of an enlightened view of liberty which has expanded the American's right to choose his own method of shaping a life.
Granted such freedom, it was probably inevitable that many of us would yield to the worst instincts, and many do, and not only in New York. Most cities, however, are able to keep the evidence out of the center of town. Under a rock, as it were. In New York, a concatenation of economics, shifting real estate values and subway lines has worked to turn the rock over and put the show on display in the middle of town.
What used to be called "The Crossroads of the World" is now a sprawling testament to the dreariness which liberty can produce when it permits people with no taste whatever to enjoy the same right to depravity as the elegant classes.”

Russell Baker (1925–2019) writer and satirst from the United States

"Cheesy" (p.231)
So This Is Depravity (1980)

Life , People , Age , World

“This matter of periodization is not, however, altogether alien to the signals given off by the expression "late capitalism," which is by now clearly identified as a kind of leftist logo which is ideologically and politically booby-trapped, so that the very act of using it constitutes tacit agreement about a whole range of essentially Marxian social and economic propositions the other side may be far from wanting to endorse. Capitalist was itself always a funny word in this sense: just using the word - otherwise a neutral enough designation for an economic social system on whose properties all sides agree - seemed to position you in a vaguely critical suspicious, if not outright socialist stance: only committed right wing ideologues and full-throated apologists also use it with the same relish.”

Fredric Jameson (1934) American academic

Introduction.
Postmodernism: Or, The Cultural Logic of Late Capitalism (1991)

Sense

“Modern anthropology … opposes the utilitarian assumption that the primitive chants as he sows seed because he believes that otherwise it will not grow, the assumption that his economic goal is primary, and his other activities are instrumental to it. The planting and the cultivating are no less important than the finished product. Life is not conceived as a linear progression directed to, and justified by, the achievement of a series of goals; it is a cycle in which ends cannot be isolated, one which cannot be dissected into a series of ends and means.”

John Carroll (1944) Australian professor and author

Source: Break-Out from the Crystal Palace (1974), pp. 150-151

Life

“I think the basic misconception is to speak of the so-called “best” allocation of resources. What is the best? In common economics it is defined as what would be if we knew everything. Economists operate with the fictitious assumption that all the relevant data is known, but this is totally unrealistic. Nobody knows all the data. What we have is widely dispersed knowledge, which cannot be concentrated in one mind. To call the situation—which would use all the knowledge available—“optimal” is nonsense because it is by definition a non-achievable solution. Our problem is not the full utilization of all knowledge but the best use we can achieve with any known institutional structure. In that sense, some oligopolistic (and even monopolistic situations), represent the best possible utilization of knowledge that we can achieve. Even the action of a monopolist can be extremely beneficial.”

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

1960s–1970s, A Conversation with Professor Friedrich A. Hayek (1979)

Optimism , Knowledge , Problem , Thinking

“The current emphasis on price policy, as against price, as a proper object of study represents recent economic reflection on the significance of expectations, uncertainties, market control, and the position of price as one among many selling terms. Policy implies some degree of control over the course of events and, at the same time, the use of judgment as to the probable consequences of alternative lines of action. In perfect markets, whether monopolistic or competitive, price is hardly a matter of judgment and where there is no judgment there is no policy. The area of price policy, then, embraces the deliberative action of buyers and sellers able to influence price; that is to say, it covers practically the whole field of industrial prices.”

Edward S. Mason (1899–1992) American economist

Source: "Price and production policies of large-scale enterprise," 1939, p. 61

Study , Time , Perfection

“"Institutional economics" alone meets the demand for a generalized description of the economic order. Its claim is to explain the nature and extent of order amid economic phenomena, or those concerned with industry in relation to human well-being. In the words of Edwin Cannan, it attempts to tell "why all of us are as well off as we are" and "why some of us are better off than others." Such an explanation cannot properly be answered in formulas explaining the processes through which prices emerge in a market. Its quest must go beyond sale and purchase to the peculiarities of the economic system which allow these things to take place upon particular terms and not upon others.”

Walton Hale Hamilton (1881–1958) Yale Law Professor

Source: The Institutional Approach to Economic Theory, 1919, p. 311

Nature

“Economic and monetary union…is incompatible with independent sovereign states with control over their own fiscal and monetary policies. It would be impossible…to have irrevocably fixed exchange rates while individual countries retained independent monetary policies…such a system could never have the credibility necessary to persuade the market that there was no risk of realignment. Thus EMU inevitably implies a single European currency, with monetary decisions…taken not by national Governments and/or central banks, but by a European Central Bank. Nor would individual countries be able to retain responsibility for fiscal policy. With a single European monetary policy there would need to be central control over the size of budget deficits and, particularly, over their financing. New European institutions would be required, to determine overall Community fiscal policy and agree the distribution of deficits between individual Member States…It is clear that Economic and Monetary Union implies nothing less than European Government…and political union: the United States of Europe. That is simply not on the agenda now, nor will it be for the forseeable future.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Royal Institute for International Affairs, Chatham House (25 January 1989), quoted in The View from No. 11: Memoirs of a Tory Radical (London: Bantam, 1992), p. 910.

Communication , Decision , Future , Country

“There is no historical fact that did not owe its origin to social economics; but it is no less true to say that there is no historical fact that was not preceded, not accompanied, and not succeeded by a definite state of consciousness.”

Georgi Plekhanov (1856–1918) Russian revolutionary

The Materialist Conception of History, 1891, Ch. 6.

“The economic policy issues that we debate today—trade policy, inflation, the proper role of government, the eradication of poverty, and the means of raising the rate of economic growth—have been discussed by economists for more than two centuries. Many of today’s economic policies—both the good ones and the bad—are the result of the ideas of those past economists. And many of today’s debates about economic policy can be understood only by those who have at least some familiarity with the ideas of earlier economists.
The giants of economic science during the past two hundred years have been men concerned with the critical policy issues of their time. They studied the working of the economy in order to advocate better economic policies. But despite their concern with policy, they were not polemicists or politicians but men who sought to persuade their contemporaries in government and in the broader public by analysis and evidence that would meet the standards of professional debate.”

Martin Feldstein (1939–2019) American economist

Martin Feldstein (1989), Foreword to New Ideas from Dead Economists by Todd Buchholz.

Men , Idea , Study , Science

“First, most producers are employees of firms, not owners. Viewed from the vantage point of classical [economic] theory, they have no reason to maximize the profits of firms, except to the extent that they can be controlled by owners. Moreover, profit-making firms, nonprofit organizations, and bureaucratic organizations all have exactly the same problem of inducing their employees to work toward organizational goals. There is no reason, a priori, why it should be easier (or harder) to produce this motivation in organizations aimed at maximizing profits than in organizations with different goals. If it is true in an organizational economy that organizations motivated by profits will be more efficient than other organizations, additional postulates will have to be introduced to account for it.”

Herbert A. Simon (1916–2001) American political scientist, economist, sociologist, and psychologist

Simon (1991) "Organizations and Markets:" in: Journal of Economic Perspectives. 5 (2 Spring 1991): p. 28.
1980s and later

Motivation , Problem

“The regimentation of agriculture was in both fascist countries the first, and for a considerable time the most drastic, intervention in the free play of economic forces. In either country, and especially in Germany, the threat of the industrial revolution in agriculture had reached a point at which government intervention in the social structure of farming was entirely unavoidable.”

Peter F. Drucker (1909–2005) American business consultant

Source: 1930s- 1950s, The End of Economic Man (1939), p. 151

Time , Country

“Whereas in democratic countries the businessman may use his money to influence legislation and public opinion and thus operated as a source of power and corruption, in fascist countries he can exist only as the subject upon whom State power operates. The corruption in fascist arises inevitably from the reversal of the role of the capitalist and the State as wielders of economic power.”

Günter Reimann (1904–2005) German economist

Source: The Vampire Economy: Doing Business Under Fascism, 2014, p. 24

Money , Country

“The Indians and Pakistanis exchange insults and beat their chests in order to inflame a 60 year old rivalry, and claim that their respective countries can offer the people they have occupied—and make no mistake, it is an occupation, and an illegal one to boot—a better future than their enemy can. But far from wanting to offer, and indeed being able to offer the Kashmiri people economic security, all that they are supplying the ordinary people of Kashmir are untold war crimes and misery. It is a sickening example of murderous aggression against a whole peoples for the sake of pride, and one that was being largely overlooked by the world until the spectre of nuclear holocaust came over the continent.”

Munir Butt (1940–2015) British diplomat

Source: Speech to the American-Kashmiri Alliance, New York, 2002.[citation needed]

War , People , World , Future

“I wish I could say that the Chancellor of the Exchequer had done himself less than justice. Unfortunately, I can only say that I believe he has done himself justice. Some Chancellors are macro-economic. Other Chancellors are fiscal. This one is just plain cheap.”

Margaret Thatcher (1925–2013) British stateswoman and politician

On Denis Healey, in a remark in the House of Commons (22 January 1975) http://www.margaretthatcher.org/speeches/displaydocument.asp?docid=102591
Shadow Secretary for Environment

Justice

“The cost in human lives of every armed conflict is staggering, but the economic cost of wars can continue for generations.”

Alfred de Zayas (1947) American United Nations official

Disarm and develop – UN expert urges win-win proposition for States and peoples.
2014

War

“I don’t have many strong dislikes. I admit that as a teacher—I have no racial prejudices in general—but there were certain types, and conspicuous among them the Near Eastern populations, which I still dislike because they are fundamentally dishonest. And I must say dishonesty is a thing I intensely dislike. It was a type which, in my childhood in Austria, was described as Levantine, typical of the people of the eastern Mediterranean. But I encountered it later, and I have a profound dislike for the typical Indian students at the London School of Economics, which I admit are all one type—Bengali moneylender sons. They are to me a detestable type, I admit, but not with any racial feeling. I have found a little of the same amongst the Egyptians —basically a lack of honesty in them. If I advise speaking about honesty, I think honesty is really the best expression of what I call the morals of a civilized society. Primitive man lacks a conception of honesty.”

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

Conversation https://www.youtube.com/watch?v=JoV-5p88rGU&feature=youtu.be&t=53m31s with Chitester (1978); published in Nobel Prize-Winning Economist: Friedrich A. von Hayek https://archive.org/details/nobelprizewinnin00haye (1983), p. 490
1960s–1970s

People , School , Feeling , Thinking

“Militant leftism in politics appears to have its roots in broadly analogous sentiments. Every labour politician has observed that the most indignant members of his local Party are not usually the poorest, or the slum-dwellers, or those with most to gain from further economic change, but the younger, more self-conscious element, earning good incomes and living comfortably in neat new council houses: skilled engineering workers, electrical workers, draughtsmen, technicians, and the lower clerical grades. (Similarly the most militant local parties are not in the old industrial areas, but either in the newer high-wage engineering areas or in middle-class towns; Coventry or Margate are the characteristic strongholds.) Now it is people such as these who naturally resent the fact that despite their high economic status, often so much higher than their parents’, and their undoubted skill at work, they have no right to participate in the decisions of their firm, no influence over policy, and far fewer non-pecuniary privileges than the managerial grades; and outside their work they are conscious of a conspicuous educational handicap, of a style of life which is still looked down on by middle-class people often earning little if any more, of differences in accent, and generally of an inferior class position.”

Anthony Crosland book The Future of Socialism

The Future of Socialism by Anthony Crosland
The Future of Socialism (1956)

Life , People , Education , Nature

“The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.”

Joan Robinson book An Essay on Marxian Economics

Source: An Essay on Marxian Economics (Second Edition) (1966), Chapter I, Introduction, p. 1

Nature , Past , Future , Parting

“The Canadian government has a closer relation to economic activities than most governments. The trade in staples, which characterizes an economically weak country, to the highly industrialized areas of Europe and latterly the United States, and especially the fur trade, has been responsible for various peculiar tendencies in Canadian development. The maintenance of connections with Europe, at first with France and later with Great Britain has been a result. The diversity of institutions which has attended this relationship has made for greater elasticity in organization and far greater tolerance among her peoples.”

Harold Innis (1894–1952) Canadian professor of political economy

Conclusion, p. 401.
The Fur Trade in Canada (1930)

People , Country

“I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.”

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

1960s–1970s, Nobel Banquet Speech (1974)

“Paul was undeniably sincere. He believed that in reinterpreting the Christian faith so as to make it acceptable to the Romans he was doing that faith a service. His make-up was imperial rather than democratic. Both by birth and training he was unfitted to enter into the working-class consciousness of Galileans. He was in culture a Hellenist, in religion a Pharisee, in citizenship a Roman. From the first strain, Hellenism, he received a bias in the direction of philosophy rather than economics; from the second, his Pharisaism, he received a bias toward aloofness, otherworldliness; and from the third, his Romanism, he received a bias toward political acquiescence and the preservation of the status quo.”

Bouck White (1874–1951) American author and novelist

Source: The Call of the Carpenter (1914), p. 227

Faith , Religion , Birth , Sincerity

“This is a citizenry which is annoyed, confused, insulted, and uncertain of how to protect the structures of the public good they struggled so long to put in place. Abruptly the national élites seem to prefer playing another game in which the public good is subjected to what they say are larger truths. All of these turn out to be either pedantically utilitarian or highly romantic. The utilitarian involves the reduction of society to self-interest. The romantic involves the selling of economic mythology as a new universal religion.”

John Ralston Saul (1947) Canadian author and essayist

Reflections of a Siamese Twin (1997)

Truth , Religion , Game , Universe

“We have to put pressure on countries that are misusing our policies. Taking a strong stand, looking back to, I think it was Roosevelt who said, ‘walk softly, and carry a big stick.’ Well, you’ve got to do that economically as well. You’ve got to stand up for your rights. You can’t cave to foreign countries and say, ‘we’ll take all our missiles down if you take your missiles down,’ and turn around and let them develop their missiles. In other words, you got to trust and verify—but I think verify first.”

Roy Moore (1947) American former judge

Breitbart News Interview (2017)

Thinking , Strong , Country

“Our constitution, in essence, represents our national philosophy. The Constitution voices the social, economic and political covenant entered into by and for ourselves as equal citizens of our Republic.”

Shankar Dayal Sharma (1918–1999) Indian politician

His broadcast to the nation on the eve of the Republic day on 25 January 1996, in: p. 244.
Commissions and Omissions by Indian Presidents and Their Conflicts with the Prime Ministers Under the Constitution: 1977-2001