Quotes about economics
page 22

“A triumphalist corporate capitalism, free at last of the specter of Communism, has mobilized its economic power to relentlessly marginalize all nonmarket values; to subordinate every aspect of American life to corporate "efficiency" and the bottom line; to demonize not only government but the very idea of public service and public goods.”

Ellen Willis (1941–2006) writer, activist

"Dreaming of War" http://www.thenation.com/doc/20011015/willis, The Nation (15 October 2001)

Life, Communication, Idea

“The economics establishment (universities, regulators, central bankers, government officials, various organisations staffed with economists) lost its legitimacy with the failure of the system. It is irresponsible and foolish to put our trust in the ability of such experts to get us out of this mess. Instead, find the smart people whose hands are clean.”

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

Ten principles for a Black Swan-proof world http://www.ft.com/cms/s/0/5d5aa24e-23a4-11de-996a-00144feabdc0.html?nclick_check=1, Financial Times, 2009-04-07. Ten principles for a Black Swan-proof world (2009)

People, Failure, Universe

“I thought that, given the system of rewards central to our economic system, in which profit maximization is valued above all else and specifically above life, it is probably just as irresistible to the owners of capital (human or otherwise) to exploit workers (and the land): "Nothing personal," they say as they load their property onto the ship bound for the Middle Passage, "but a man's gotta turn a dime."”

Derrick Jensen book The Culture of Make Believe

Source: The Culture of Make Believe (2003), p. 102

Life, Personality

“Economics never was a dismal science. It should be a realistic science.”

Paul A. Samuelson (1915–2009) American economist

[Samuelson, Paul Anthony, Puttaswamaiah, K., 2002, Paul Samuelson and the Foundations of Modern Economics, 10 http://books.google.co.uk/books?id=_Lvflq4Wv-wC&lpg=PP1&pg=PA10] New millennium

Science

“Historical, political economic systems theory. The Marxian approach to system theorizing clearly points us to sociologically important phenomena: the material conditions of social life, stratification and social class, conflict, the reproduction as well as transformation of capitalist systems, the conditions that affect group mobilization and political power, and the ways ideas functions as ideologies.”

Tom R. Burns (1937) American sociologist

Source: Systems theories (2006), p. 2.

Life, Way, Idea

“In a radical democracy in which everybody should be able to co-decide, not everyone meets the [criteria of] competence, preparedness to serve the common interest and economic independence. That's why this form should be rejected. Every four years, the citizen can give his judgement on government policy in all openness, and in this manner have influence. For this, it is necessary however that the citizen is well informed. That is a task of the government.”

Frits Bolkestein (1933) Dutch politician

Lecture at the University of Amsterdam (11 March 1997)
1990s

Democracy

“McKinsey and Company has a new study that shows that the persistent gap in academic achievement between children in the United States and their counterparts in other countries deprived the U. S. economy of as much as $2.3 trillion in economic output in 2008 alone. Can we imagine how much that academic gap has cost us in potential income?”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

Children, Imagination, Study, Country

“House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas.”

Ben Bernanke (1953) American economist

October 20, 2005 http://www.house.gov/jec/hearings/testimony/109/10-20-05bernanke.pdf, in testimony to Congress's Joint Economic Committee.

Strong, Past, Housing

“There is no hope, as far as I can see, of pushing the postulates of economic theory back to a set of irreducible axioms.”

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

Source: The Role of Measurement in Economics. 1951, p. 15

Hope

“And since any inflation, however modest at first, can help employment only so long as it accelerates, adopted as a means of reducing unemployment, it will do so for any length of time only while it accelerates. "Mild" steady inflation cannot help—it can lead only to outright inflation. That inflation at a constant rate soon ceases to have any stimulating effect, and in the end merely leaves us with a backlog of delayed adaptations, is the conclusive argument against the "mild" inflation represented as beneficial even in standard economics textbooks.”

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

1980s Unemployment and the Unions: Essays on the Impotent Price Structure of Britain and Monopoly in the Labour Market https://books.google.com/books?id=zZu3AAAAIAAJ&q=%22only+while+it+accelerates%22&dq=%22only+while+it+accelerates%22&hl=en&sa=X&ei=HBhsUYjUGMv34QSW-YDgDg&redir_esc=y (1984) 1980s and later

Time, Help

“The main problem with current neo-liberal globalisation is that it detaches economic and political power from locality, tradition and interpersonal relationships. That’s because it makes a fundamental assumption about human nature: that we are essentially selfish, greedy, isolated individuals who seem to maximise our own individual happiness or short-term pleasure. Purely individual interests ultimately clash. This conflict is then supposedly resolved by the ‘invisible hand’ of the market and the visible hand of the state. In consequence we are left with an increasing centralisation of power, a growing concentration of wealth and an ever-more atomised society.”

Jon Cruddas (1962) British politician

The Common Good in an Age of Austerity Lecture, 9 July 2014 http://joncruddas.org.uk/sites/joncruddas.org.uk/files/ebor%20a.pdf

Happiness, Pleasure, Nature, Problem

“By 'socialism' I mean a classless society in which the State has disappeared, production is cooperative, and no man has political or economic power over another. The touchstone would be the extent to which each individual could develop his own talents and personality.”

Dwight Macdonald (1906–1982) journalist

"The Root is Man" (1946).

Personality

“The fact is that men need women more than women need men; and so, aware of this fact, man has sought to keep woman dependent upon him economically as the only method open to him of making himself necessary to her. Since in the beginning woman would not become his willing slave, he has wrought through the centuries a society in which woman must serve him if she is to survive.”

Elizabeth Gould Davis book The First Sex

The First Sex, ch. 22 - Woman in the Aquarian Age (1971).

Women, Men, Dependency

“Codification and mechanisms do not sufficiently ensure the right to peace. What is crucial is to develop a true culture of peace. This requires education for peace. Everyone – not only children – should be educated in compromise, cooperation, empathy, solidarity, compassion, restoration and reconciliation. In short, we must learn respect for others and how to live in harmony, even if we agree to disagree. Negotiation and mediation skills must be taught so as to prevent breaches of the peace and other forms of violence. A philosophical paradigm change is necessary, so that we are not caught in the old mind-set, in the prevailing culture of violence, the logic of war, aggressive attitudes, practices of economic exploitation and cultural imperialism.”

Alfred de Zayas (1947) American United Nations official

Statement by Alfred de Zayas, 20/2/2013 http://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=13030&LangID=E. 2013

War, Children, Education, Peace

“No one can take culture seriously if he believes that it is only the uppermost of several layers of epiphenomena resting on a primary reality of economic activity.”

Richard M. Weaver (1910–1963) American scholar

“The Importance of Cultural Freedom,” p. 25.
Life Without Prejudice (1965)

Reality

“Always, the rulers of an order, consistent with their own interests and solely of their own design, have employed what to them seemed to be the most optimal and efficient means of maintaining unquestioned social and economic advantage. Clear-cut superiority in things social and economic—by whatever means—has been a scruples-free premise of American ruling class authority from the society's inception to the present. The initial socioeconomic advantage, begotten by chattel slavery, was enforced by undaunted violence and the constant threat of more violence.”

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

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

Optimism

“A good book on the subject of the customs union has for long been wanted; and now it is provided by Professor Viner's study, which it is difficult to praise too highly…. Professor Viner's study on the economic aspects of customs unions will be of central interest to economists. Indeed for many years this is likely to remain the locus classicus for the economic analysis of customs-union problems.”

James Meade (1907–1995) British economist

James Meade, "The Removal of Trade Barriers: The Regional versus the Universal Approach." Economica (1951). p. 186-7. Cited in: Jacob Viner, ‎Paul Oslington (2014) The Customs Union Issue. p. xxxi

Books, Problem, Study

“Sex work is an economic question, not a moral one: in a world where shame and sexual violence are still hard currency, the normalization of the sex industry is a symptom not of social degeneration, but of the economic exploitation of women on a unprecedented scale.”

Laurie Penny book Meat Market: Female Flesh Under Capitalism

Source: Meat Market: Female Flesh Under Capitalism (2010), Chapter One

Women, World, Sex, Question

“Modern economics and the welfare state borrowed heavily on the future.”

Gregory Benford book Timescape

Source: Timescape (1980), Chapter 43 (p. 445)

Future

“Could the Aboriginal and the British cultures have been reconciled when they first met? The prevailing view is that they could have signed a treaty and found a way of living together in relative harmony. I am not persuaded. The two confronting cultures, whether first living side by side at Sydney in 1788 or at Perth in 1829, had little in common except that they were the product of human beings. Their languages and religions differed. Their attitude to marriage, family, property and individual wealth, their economic and political systems, their way of fighting, and their thoughts about life and death, were far apart. In the world today no two cultures are so far apart as those that lived side by side in many Australian regions after 1788. Mecca and Washington today have far more in common than did the paternal Governor Phillip and the Aborigines whom he met in Sydney in 1788.”

Geoffrey Blainey (1930) Australian historian

"Geoffrey Blainey: I can see parts of our history with fresh eyes," The Australian (February 21, 2015)

Life, Death, Marriage, World

“There is another way you can tell you’re a Republican. You have faith in free enterprise, faith in the resourcefulness of the American people, and faith in the U. S. economy. To those critics who are so pessimistic about our economy, I say: ‘Don’t be economic girlie men!”

Arnold Schwarzenegger (1947) actor, businessman and politician of Austrian-American heritage

2000s, Speech at the Republican National Convention (31 August 2004)

Men, People, Faith, Way

“Economic reforms based on the idea of limitless growth in a limited world, can only be maintained by the powerful grabbing the resources of the vulnerable. The resource grab that is essential for “growth” creates a culture of rape—the rape of the earth, of local self-reliant economies, and of women.”

Vandana Shiva (1952) Indian philosopher

On economic reforms in India and rape in India, from " Vandana Shiva: Our Violent Economy is Hurting Women http://www.yesmagazine.org/peace-justice/violent-economic-reforms-and-women" Yes Magazine (18 January 2013)

Women, World, Idea

“The Nobel Prize confers on an individual an authority which in economics no man ought to possess.
This does not matter in the natural sciences. Here the influence exercised by an individual is chiefly an influence on his fellow experts; and they will soon cut him down to size if he exceeds his competence.
But the influence of the economist that mainly matters is an influence over laymen: politicians, journalists, civil servants and the public generally.
There is no reason why a man who has made a distinctive contribution to economic science should be omnicompetent on all problems of society — as the press tends to treat him till in the end he may himself be persuaded to believe.”

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

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

Exercises, Nature, Problem, Science

“The world is a troubled and divided place. I will conclude with this thought. As we speak, the poorest of the poor countries in the world are getting poorer. There is more unemployment, poverty, homelessness and hunger. Resources are being transferred rapidly from the poor to the rich. Most conflicts stem from poverty and from arguments about resources and power. If one tenth of the money that this country is putting into the defence estimates had gone to the people of Somalia and the other countries that were facing terrible economic strife in the 1970s and 1980s, perhaps there would not be the awful conflicts in that region now. We should be dedicating ourselves to a peaceful world, rather than arming ourselves for war upon war upon war. We should deal with the basic problems of the planet. I hoped at least that there would be a defence review. The review could look at what is, I believe, the unanswerable case for a large reduction in Britain's military spending to make an example to the rest of the world.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1993/oct/18/statement-on-the-defence-estimates in the House of Commons (18 October 1993). 1990s

Money, Hunger, War, People

“From Keynes' point of view the economic system, before the war failed in its solution of the unemployment problem”

Lawrence Klein (1920–2013) American economist

The Keynesian Revolution. Vol. 19. New York: Macmillan, 1947/66. p. 166

War, Problem

“Alchian: Two things you [Hayek] wrote that had a personal influence on me, after your Prices and Production, were 'Individualism and Economic Order' [sic — Alchian certainly has in mind Hayek's 'Economics and Knowledge'] and 'The Use of Knowledge in Society.' These I would regard as your two best articles, best in terms of their influence on me.
Hayek: 'Economics and Knowledge' — the '37 one — which is reprinted in the volume, is the one which marks the new look at things in my way.
Alchian: It was new to you, too, then? Was it a change in your own thinking?
Hayek: Yes, it was really the beginning of my looking at things in a new light. … I was aware that I was putting down things which were fairly well known in a new form, and perhaps it was the most exciting moment in my career when I saw it [i. e. 'Economics and Knowledge'] in print.
Alchian: Well, I'm delighted to hear you say that, because I had that copy typed up to mimeograph for my students in the first course I gave here [i. e. UCLA]. And Allan Wallace … came through town one day, and I said, 'Allan, I've got a great article!" He looked at it, started to laugh, and said, "I've seen it too; it's just phenomenal!' I'm just delighted to hear you say that it was exciting, because it was to me, too … that was a very influential article, I must say.”

Armen Alchian (1914–2013) American economist

Interviewing Friedrich Hayek, 1978

Way, Knowledge, Thinking, Light

“As my father was privileged to have witnessed in 1947, independence of India from Britain, I was privileged to have seen in 1991 India embracing economic reforms that liberated our country’s entrepreneurial energies. These two transitions set India on the path of development and had a profound on the world both political economic terms.”

Mukesh Ambani (1957) Indian business magnate

Reimaging India: Unlocking the Potential of Asia’s Next Superpower

World, Country

“Corporations now govern society, perhaps more than governments themselves do; yet ironically, it is their very power, much of which they have gained through economic globalization, that makes them vulnerable.”

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. 25

“The black middle-class in America is a prosperous community that is now larger in absolute terms than the black underclass. Does its existence not suggest that economic adversity is the result of failures of individual character rather than the lingering after-effects of racial discrimination and a slave system that ceased to exist well over a century ago?”

David Horowitz (1939) Neoconservative activist, writer

[David, Horowitz, http://www.frontpagemag.com/Articles/ReadArticle.asp?ID=1153, Ten Reasons Why Reparations for Blacks is a Bad Idea for Blacks - and Racist Too, FrontPageMagazine.com, January 3, 2001, 2007-02-17]
2001

Communication, Failure

“"It's wrong to profit from the misfortune of others." I ask my students whether they'd support a law against doing so. But I caution them with some examples. An orthopedist profits from your misfortune of having broken your leg skiing. When there's news of a pending ice storm, I doubt whether it saddens the hearts of those in the collision repair business. I also tell my students that I profit from their misfortune — their ignorance of economic theory.”

Walter E. Williams (1936) American economist, commentator, and academic

1970s, Economics for the Citizen (1978)

Law, Business, Support, Heart

“The debate concerns only some of the problems of society in the United States (anti-feminism and racism in particular). It does not call into question the economic foundations of the system that are the root cause of the degradations of social conditions in important segments of society. The sacredness of private property, including that of monopolies, remains intact; the fact that Trump is himself a billionaire was an asset and not an obstacle to his election.”

Samir Amin (1931–2018) Egyptian economist

The Election of Donald Trump https://mrzine.monthlyreview.org/2016/amin301116.html (30 November 2016), Monthly Review Magazine (MRzine)

Question, Problem

“There is a rhetoric of knowledge, a characteristic way in which arguments, proofs, speculations, experiments, polemics, even humor are expressed. …speaking or writing a subject is a performing art, and each subject requires a somewhat different kind of performance from every other. Historians, for example, do not speak or write history in the same way biologists speak or write biology. …it is worth remembering that some scholars-one thinks of Veblen in sociology, Freud in psychology, Galbraith in economics - have exerted influence as much through their manner as their matter. The point is that knowledge is a form of literature, and the various styles of knowledge ought to be studied and discussed.”

Neil Postman (1931–2003) American writer and academic

Language Education in a Knowledge Context (1980)

Art, Way, History, Literature

“Economists often talk about the benefits of choice, but rational economic man doesn't actually have much freedom to chose, because he is a slave to his own preferences.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 5, Male Versus Female, p. 160

Freedom

“When I came up to Cambridge (in October 1921) to read economics, I did not have much idea of what it was about.”

Joan Robinson (1903–1983) English economist

Reminiscences, p. ix
Contributions to Modern Economics (1978)

Idea, Reading

“The view that now pervades much public policy economics implicitly presents the relevant choice as between an ideal norm and an existing "imperfect" institutional arrangement. This nirvana approach differs considerably from a comparative institution approach in which the relevant choice is between alternative real institutional arrangements.”

Harold Demsetz (1930–2019) American economist

Cited in: Eggertsson (1990; 22)
"Information and Efficiency: Another Viewpoint." (1969)

“Year by year, month by month, the plight of our fragmentary and precarious civilization becomes more serious. Fascism abroad grows more bold and ruthless in its foreign ventures, more tyrannical toward its own citizens, more barbarian in its contempt for the life of the mind. Even in our own country we have reason to fear a tendency toward militarization and the curtailment of civil liberty. Moreover, while the decades pass, no resolute step is taken to alleviate the injustice of our social order. Our outworn economic system dooms millions to frustration.”

Olaf Stapledon book Star Maker

Preface (p. 3)
Star Maker (1937)

Life, Fear, Country

“Adult franchise is the most powerful instrument devised by man for breaking down social and economic injustice and destroying barriers of caste, creed and religion. It has given the right to the people to choose a government through the democratic process of elections.”

R. Venkataraman (1910–2009) seventh Vice-President of India and the 8th President of India

Source: Commissions and Omissions by Indian Presidents and Their Conflicts with the Prime Ministers Under the Constitution: 1977-2001, p. 183.

People, Religion

“There are some who question the relevance of space activities in a developing nation. To us, there is no ambiguity of purpose. We do not have the fantasy of competing with the economically advanced nations in the exploration of the moon or the planets or manned space-flight.”

Vikram Sarabhai (1919–1971) (1919-1971), Indian physicist

Quoted in

Question

“By the 1990s, it was no longer possible to speak, with any intellectual integrity, of a Soviet Union of Stalin as having been informed by a ‘proletarian’ economic system, or possessed of a ‘working-class’ government. No more credence is invested in the Stalinist, Maoist, or Castro ‘proletarian state’ than was invested in the ‘proletarian’ character of the ‘German National Socialist Workers’ Party’ or the ‘Fascist State of Labor.”

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

Source: The Faces of Janus: Marxism and Fascism in the Twentieth Century, (2000), p. 6

“The chief reason warfare is still with us is neither a secret death-wish of the human species, nor an irrepressible instinct of aggression, nor, finally and more plausibly, the serious economic and social dangers inherent in disarmament, but the simple fact that no substitute for this final arbiter in international affairs has yet appeared on the political scene.”

Hannah Arendt book On Violence

"On Violence".
Crises of the Republic (1969)

Death, Secret, Appearance

“By leveraging their freedom from the bonds of location, corporations could now dictate the economic policy of governments.”

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. 22

Freedom

“Imperialism is essentially an economic phenomenon, and it does not necessarily lead to direct political control or colonization.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 214.

“A major advancement in the strategy field is the development of models where firm heterogeneity is an endogenous creation of economic actors.”

Richard Rumelt (1942) American economist

Source: "Towards a strategic theory of the firm." 1997, p. 134

“The kind of plan that Donald has put forth would be trickle-down economics all over again. In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we've ever had. I call it trumped-up trickle-down, because that's exactly what it would be. That is not how we grow the economy.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), First presidential debate (September 26, 2016)

People, Country

“The foundation of economic development is the acquisition of more productive knowledge.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 6, Harsh rules and developing countries, p. 142

Knowledge

“To put it quite clearly: we have an economic programme. Point No. 13 in that programme demands the nationalisation of all public companies, in other words socialisation, or what is known here as socialism. … the basic principle of my Party’s economic programme should be made perfectly clear and that is the principle of authority… the good of the community takes priority over that of the individual. But the State should retain control; every owner should feel himself to be an agent of the State; it is his duty not to misuse his possessions to the detriment of the State or the interests of his fellow countrymen. That is the overriding point. The Third Reich will always retain the right to control property owners. If you say that the bourgeoisie is tearing its hair over the question of private property, that does not affect me in the least. Does the bourgeoisie expect some consideration from me?… Today’s bourgeoisie is rotten to the core; it has no ideals any more; all it wants to do is earn money and so it does me what damage it can. The bourgeois press does me damage too and would like to consign me and my movement to the devil.”

Adolf Hitler (1889–1945) Führer and Reich Chancellor of Germany, Leader of the Nazi Party

Hitler's interview with Richard Breiting, 1931, published in Edouard Calic, ed., “First Interview with Hitler, 4 May 1931,” Secret Conversations with Hitler: The Two Newly-Discovered 1931 Interviews, New York: John Day Co., 1971, pp. 31-33. Also published under the title Unmasked: Two Confidential Interviews with Hitler in 1931, published by Chatto & Windus in 1971
1930s

Money, Feeling, Communication, Question

“Whether one is a conservative or a radical, a protectionist or a free trader, a cosmopolitan or a nationalist, a churchman or a heathen, it is useful to know the causes and consequences of economic phenomena.”

George Stigler (1911–1991) American economist

The Economist as Preacher and Other Essays (1982), p.61

“In the end the question is: Who is to be master, man or his machines? As long as the control over technology rests primarily on economic calculation, the victor is not likely to be man.”

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

Source: The Future As History (1960), Chapter III, part 10, The Mastery of Technology, p. 161

Question

“Any empirical evaluation of the relationship between Trump and the white working class would reveal that one adjective in that phrase is doing more work than the other. In 2016, Trump enjoyed majority or plurality support among every economic branch of whites. It is true that his strongest support among whites came from those making $50,000 to $99,999. This would be something more than working-class in many nonwhite neighborhoods, but even if one accepts that branch as the working class, the difference between how various groups in this income bracket voted is revealing. Sixty-one percent of whites in this "working class" supported Trump. Only 24 percent of Hispanics and 11 percent of blacks did. Indeed, the plurality of all voters making less than $100,000 and the majority making less than $50,000 voted for the Democratic candidate. So when Packer laments [in the New Yorker] the fact that "Democrats can no longer really claim to be the party of working people—not white ones, anyway," he commits a kind of category error. The real problem is that Democrats aren't the party of white people—working or otherwise. White workers are not divided by the fact of labor from other white demographics; they are divided from all other laborers by the fact of their whiteness.”

Ta-Nehisi Coates (1975) writer, journalist, and educator

"The First White President" (October 2017)

People, Error, Support, Problem

“The usefulness of observation and measurement in testing economic theories arises because the theorems of economics are supposed to relate to the actual world… Any economic theorem rigorously deduced from given postulates may be regarded as a hypothesis about the actual world which xperience may show to be false.”

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

Source: The Role of Measurement in Economics. 1951, p. 12

World, Falseness

“The Golden Straitjacket is the defining political-economic garment of globalization. […] The tighter you wear it, the more gold it produces.”

Thomas Friedman book The Lexus and the Olive Tree

[The Lexus and the Olive Tree: Understanding Globalization, 1st edition, May 2, 2000, Anchor, ISBN 0-3854-9934-5, The Golden Straitjacket]

“I cannot stress too strongly the importance of external controls, both governmental and economic. I do not see how economic enterprises can be operated satisfactorily in a modern economy, capitalist, mixed, socialist or whatever, without some strategic external controls over the firm.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

“It becomes you to be wise to smell, feel, and have in estimation these fair books, de haulte gresse, light in the pursuit, and bold at the encounter. Then you must, by a curious reading and frequent meditation, break the bone and suck out the substantific marrow, — that is what I mean by these Pythagorean symbols, — with assured hope of becoming well-advised and valiant by the said reading; for in it you shall find another kind of taste, and a doctrine more profound, which will disclose unto you deep doctrines and dreadful mysteries, as well in what concerneth our religion as matters of the public state and life economical.”

Francois Rabelais book Gargantua and Pantagruel

Prologue.
Gargantua and Pantagruel (1532–1564), Gargantua (1534)

Life, Books, Religion, Hope

“The mark of a capitalistic society is that resources are owned and allocated by such nongovernmental organizations as firms, households, and markets. Resource owners increase productivity through cooperative specialization and this leads to the demand for economic organizations which facilitate cooperation. When a lumber mill employs a cabinetmaker, cooperation between specialists is achieved within a firm, and when a cabinetmaker purchases wood from a lumberman, the cooperation takes place across markets (or between firms). Two important problems face a theory of economic organization—to explain the conditions that determine whether the gains from specialization and cooperative production can better be obtained within an organization like the firm, or across markets, and to explain the structure of the organization.”

Harold Demsetz (1930–2019) American economist

Source: Production, information costs, and economic organization. 1972, p. 777, Lead paragraph

Problem

“Woodrow Wilson's New Freedom promised our nation a new political and economic framework. Franklin Roosevelt's New Deal promised security and succor to those in need. But the New Frontier of which I speak is not a set of promises — it is a set of challenges. It sums up not what I intend to offer the American people, but what I intend to ask of them. It appeals to their pride, not to their pocketbook — it holds out the promise of more sacrifice instead of more security.”

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

1960, The New Frontier

People, Freedom

“The deepest problems of modern life derive from the claim of the individual to preserve the autonomy and individuality of his existence in the face of overwhelming social forces, of historical heritage, of external culture, and of the technique of life. The fight with nature which primitive man has to wage for his bodily existence attains in this modern form its latest transformation. The eighteenth century called upon man to free himself of all the historical bonds in the state and in religion, in morals and in economics. Man’s nature, originally good and common to all, should develop unhampered. In addition to more liberty, the nineteenth century demanded the functional specialization of man and his work; this specialization makes one individual incomparable to another, and each of them indispensable to the highest possible extent. However, this specialization makes each man the more directly dependent upon the supplementary activities of all others. Nietzsche sees the full development of the individual conditioned by the most ruthless struggle of individuals; socialism believes in the suppression of all competition for the same reason. Be that as it may, in all these positions the same basic motive is at work: the person resists to being leveled down and worn out by a social technological mechanism. An inquiry into the inner meaning of specifically modern life and its products, into the soul of the cultural body, so to speak, must seek to solve the equation which structures like the metropolis set up between the individual and the super-individual contents of life. Such an inquiry must answer the question of how the personality accommodates itself in the adjustments to external forces.”

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

Source: The Metropolis and Modern Life (1903), p. 409

Life, Religion, Soul, Motivation

“Many Frenchmen see their society as drifting in uncertain waters without an anchor. They are concerned by increasingly powerless elected governments, distant bureaucrats who intervene in every aspect of people’s lives, and an economic system that promises much but delivers little. The advocates of Western decline claim that Europeans no longer believe in anything and are thus doomed to lose the fight against homegrown Islamists who passionately believe in the little they know of Islam. A note of comedy is injected into this tragedy by people like President Hollande who keep repeating that the terror attacks had “nothing to do with Islam.” Is Hollande an authority on what is and what is not Islam? Talking heads repeat ad nauseam that France is not at war against Islam. OK. However, part of Islam is certainly at war against France, and the rest of the civilized world, including a majority of Muslims across the globe. One’s enemy is not whom one wants him to be but whom he wants to be. The Charlie killers saw themselves as jihadis, and it is only in seeing them as such that one could start dealing with them in an effective way. In designating them as Islamists, one is not “at war against Islam.” Millions of French are expected to take part in marches across the country today to pay respect to the 17 people, including 10 journalists, who were killed in the attacks. There is going to be just one slogan: “We are all Charlie.” Do they believe it? The French would do well to remember that, once all is said and done, they still live in one of the few countries in the world where they can think and say what they like, a state of bliss a majority of Muslims across the globe could only dream of. And, the prophets of decline notwithstanding, that is something worth living and fighting for.”

Amir Taheri (1942) Iranian journalist

What happens to Western values if no one stands up against Islam? http://nypost.com/2015/01/11/what-happens-to-western-values-if-no-one-stands-up-against-islam/, New York Post (January 11, 2015). New York Post

War, People, World, Dreams

“Only the absence of honesty and of a true love of art provides some artists with the affrontery to live on stale cans of artistic economics stocked up for years, and, year in year out, until they are fifty, to mutter about what they had first started to talk about when they were twenty.”

Olga Rozanova (1886–1918) Russian artist

Quote, 1913, in 'Osnovy novogo tvorchestva i prichiny ego neponimaniia,', in 'Soiuz molodezhi' (St. Petersburg), March 1913, p. 20; translated in John E. Bowlt, The Russian Avant- Garde: Theory and Criticism; Thames and Hudson, London 1988, p. 109

Love, Art

“Funny thing about those Middle Ages,” said Joseph. “They just keep coming back. Mortals keep thinking they’re in Modern Times, you know, they get all this neat technology and pass all these humanitarian laws, and then something happens: there’s an economic crisis, or science makes some discovery people can’t deal with. And boom, people go right back to burning Jews and selling pieces of the true Cross. Don’t you ever make the mistake of thinking that mortals want to live in a golden age. They hate thinking.”

Kage Baker book In the Garden of Iden

Source: In the Garden of Iden (1997), Chapter 17 (pp. 192-193)

Hate, People, Age, Law

“The great error of the last 50 years is that conservatives think that they should unthinkingly endorse laissez -faire economics, but as presently conceived the free market destroys most of the things conservatives value; it destroys traditions, family life, societies, cultures, and established ways of doing things. The market place, as understood by contemporary neo-liberalism, is something no genuine conservative should support or endorse.”

Phillip Blond (1966) British philosopher

Source: Den 11. time, Third season, programme 96, 3 March 2008, DR2 Source: Interview with Philip Blond http://www.dr.dk/Forms/Published/PlaylistGen.aspx?qid=616842&amp;odp=true&amp;bitrate=low&location=Lyngby&uri=http://www.dr.dk/Forms/Published/PlaylistGen.aspx, Den 11. time, DR2, 3 March 2008, Windows Media file, 28 min. (in English with Danish subtitles)

Life, Family, Way, Error

“It's a fundamental misunderstanding of human nature and of the concepts of liberty, freedom, and self-determination. It's a fundamental misunderstanding of economics. He (Obama) believes that the pie is fixed and that he needs to more equitably divide up the slices.”

Paul Ryan (1970) American politician

Source: Young Guns: A New Generation of Conservative Leaders (2010), p. 10-11

Nature, Freedom

“Yeah. ‘Environment’ was very big for a while. Ecology Now stickers on the windshields of cars belonging to hairy young men—cars which dripped oil wherever they parked and took off in clouds of smoke thicker than your pipe can produce…Before long, the fashionable cause was something else, I forget what. Anyhow, that whole phase—the wave after wave of causes—passed away. People completely stopped caring…
I feel a moral certainty that a large part of the disaster grew from this particular country, the world’s most powerful, the vanguard country for things both good and ill…never really trying to meet the responsibilities of power.
We’ll make halfhearted attempts to stop some enemies in Asia, and because the attempts are halfhearted we’ll piss away human lives—on both sides—and treasure—to no purpose. Hoping to placate the implacable, we’ll estrange our last few friends. Men elected to national office will solemnly identify inflation with rising prices, which is like identifying red spots with the measles virus, and slap on wage and price controls, which is like papering the cracks in a house whose foundations are sliding away. So economic collapse brings international impotence…As for our foolish little attempts to balance what we drain from the environment against what we put back—well, I mentioned that car carrying the ecology sticker.
At first Americans will go on an orgy of guilt. Later they’ll feel inadequate. Finally they’ll turn apathetic. After all, they’ll be able to buy any anodyne, any pseudo-existence they want.”

Poul Anderson book There Will Be Time

Source: There Will Be Time (1972), Chapter 5 (pp. 53-54)

Men, People, World, Hope

“Decision theory can be pursued not only for the purposes of building foundations for political economy, or of understanding and explaining phenomena that are in themselves intrinsically interesting, but also for the purpose of offering direct advice to business and governmental decision makers. For reasons not clear to me, this territory was very sparsely settled prior to World War II. Such inhabitants as it had were mainly industrial engineers, students of public administration, and specialists in business functions, none of whom especially identified themselves with the economic sciences. Prominent pioneers included the mathematician, Charles Babbage, inventor of the digital computer, the engineer, Frederick Taylor and the administrator, Henri Fayol.
During World War II, this territory, almost abandoned, was rediscovered by scientists, mathematicians, and statisticians concerned with military management and logistics, and was renamed “operations research” or “operations analysis.””

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

So remote were the operations researchers from the social science community that economists wishing to enter the territory had to establish their own colony, which they called “management science”.
1960s-1970s, "Rational decision making in business organizations", Nobel Memorial Lecture 1978

War, World, Communication, Understanding

“In our modern world, mass hunger, economic stagnation, environmental catastrophe, political instability, and terrorism cannot be quarantined within national borders.”

Willy Brandt (1913–1992) German social-democratic politician; Chancellor of the Federal Republic of Germany

Attributed in "World Government—What Are the Obstacles?", Awake! magazine article, 1984, 12/22.

Hunger, World

“By elevating the dictum of the market to the role of the sole criterion of rationality and efficiency, economics denies even all "respectability" to the distinction between essential and non-essential consumption, between productive and unproductive labor, between actual and potential surplus.”

Paul A. Baran (1909–1964) American Marxist economist

Source: The Political Economy Of Growth (1957), Chapter Two, The Concept Of the Economic Surplus, p. 25

“There is grim irony in speaking of the freedom of contract of those who, because of their economic necessities, give their service for less than is needful to keep body and soul together.”

Harlan F. Stone (1872–1946) United States federal judge

Morehead v. N.Y. ex rel. Tipaldo, 298 U.S. 587, 632 (1936).

Soul, Freedom

“If Keynes was Luther, Friedman was Ignatius of Loyola, founder of the Jesuits. And like the Jesuits, Friedman’s followers have acted as a sort of disciplined army of the faithful, spearheading a broad, but incomplete, rollback of Keynesian heresy. By the century’s end, classical economics had regained much though by no means all of its former dominion, and Friedman deserves much of the credit.”

Paul Krugman (1953) American economist

"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

Faith

““Globalisation is forcing the convergence of economic policy and limiting the power of the nation-state. An increasingly self-reliant and information-rich electorate has no time and no need for the nanny state.””

Mark Latham (1961) Australian politician

Unsourced

Time

“Clearly, the need for political and economic reform was now felt more widely in the country at large. Another, more obscure process, traceable to the flexibility and opportunism of the American political system, was also at work: successful resistance to reform demands required a partial incorporation of the reform program.”

Richard Hofstadter (1916–1970) American historian

Source: The Age of Reform: from Bryan to F.D.R. (1955), Chapter IV, part I, p. 132

Success, Country

“Capitalism, gaudy and greedy, has been inherent in western aesthetics from ancient Egypt on. It is the mysticism and glamour of things, which take on a personality of their own. As an economic system, it is in the Darwinian line of Sade, not Rousseau.”

Camille Paglia (1947) American writer

Source: Sexual Personae: Art and Decadence from Nefertiti to Emily Dickinson (1990), p. 37

Personality

“A programming language is like a natural, human language in that it favors certain metaphors, images, and ways of thinking. The language used strongly colors the computer culture. It would seem to follow that educators interested in using computers and sensitive to cultural influences would pay particular attention to the choice of language. But nothing of the sort has happened. On the contrary, educators… have accepted certain programming languages in much the same way as they accepted the QWERTY keyboard. An informative example is the way in which the programming language BASIC has established itself as the obvious language to use in teaching children how to program computers… Today, and in fact for several years now, the cost of computer memory has fallen to the point where any remaining economic advantages of using BASIC are insignificant. Yet in most high schools, the language remains almost synonymous with programming, despite the existence of other computer languages that are demonstrably easier to learn and are richer in the intellectual benefits that can come from learning them. The situation is paradoxical. The computer revolution has scarcely begun, but is already breeding its own conservatism.”

Seymour Papert book Mindstorms: Children, Computers, and Powerful Ideas

Source: Mindstorms: Children, Computers, and Powerful Ideas (1980), Chapter 1, Computers and Computer Cultures

Children, Education, School, Color

“They learn to arrange their thoughts in logical order, to write and speak clearly and economically.”

Roger Smith (executive) (1925–2007) CEO

Learning

“The free market tide has now receded. In its place has come state capitalism, a system in which the state functions as the leading economic actor and uses markets primarily for political gain.”

Ian Bremmer (1969) American political scientist

"State Capitalism Comes of Age," http://www.foreignaffairs.com/articles/64948/ian-bremmer/state-capitalism-comes-of-age Foreign Affairs (May/June 2009).

“Trump has no coherent organizing economic philosophy, spent decades acting like and supporting traditional liberal Democrats, has repeatedly shifted his positions on major issues and has little more trust from economists than he has earned among the general electorate.”

Brent Budowsky (1952) American journalist

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

Support

“It has been fashionable in the twentieth century not only to debunk myth, … but to pretend that that reasonable and educated people could avoid the embarrassment of religion and the risk of metaphysics by sticking close to demonstrable facts and testable hypotheses. However, in the course of reducing our beliefs and hopes to certainties and proofs, we impoverished and deluded ourselves. The modern anti-myth reduced human life to a story without a point, a tale told by an idiot, a process without a purpose, a journey without a goal, an affair without a climax (Godot never comes), an accidental collision of mindless atoms. … We have hardly noticed that economics, technology and politics have become the new myth and metaphysic. We haven’t avoided myth and metaphysics, only created demeaning ones.”

Sam Keen (1931) author, professor, and philosopher

Source: The Passionate Life (1983), p. 22

Life, People, Education, Religion

“We can establish universally an education that recognizes in every child a tongue-tied prophet, and in the school the voice of the future, and that equips the mind to think beyond and against the established context of thought and of life as well as to move within it. We can develop a democratic politics that renders the structure of society open in fact to challenge and reconstruction, weakening the dependence of change on crisis and the power of the dead over the living. We can make the radical democratization of access to the resources and opportunities of production the touchstone of the institutional reorganization of the market economy, and prevent the market from remaining fastened to a single version of itself. We can create policies and arrangements favorable to the gradual supersession of economically dependent wage work as the predominant form of free labor, in favor of the combination of cooperation and self-employment. We can so arrange the relation between workers and machines that machines are used to save our time for the activities that we have not yet learned how to repeat and consequently to express in formulas. We can reshape the world political and economic order so that it ceases to make the global public goods of political security and economic openness depend upon submission to an enforced convergence to institutions and practices hostile to the experiments required to move, by many different paths, in such a direction.”

Roberto Mangabeira Unger The Religion of the Future

Source: The Religion of the Future (2014), p. 29

Life, Hostility, World, Education

“She ends her letter, characteristically, by picturing me and her other critics as indifferent to the suffering of women. But many feminists, including several who wrote or spoke to me about my review, regret her single-minded concentration on lurid sex. They think that though it has predictably attracted much publicity, it tends to stereotype women as victims, and takes attention from still urgent questions of economic, political, and professional equality.”

Ronald Dworkin (1931–2013) American legal philosopher

"Pornography: An Exchange" http://www.nybooks.com/articles/2310, response by Ronald Dworkin to Catherine Mackinnon, New York Review of Books 41(5), March 3, 1994.

Women, Sex, Question, Thinking

“If a Martian were asked to pick the most efficient and humane economic systems on earth, it would certainly not choose the countries which rely most on markets. The United States is a stagnant economy in which real wages have been constant for more than a decade and the real income of the bottom 40 percent of the population declined. It is an inhumane society in which 11.5 percent of the population, some 32 million people, including 20 percent of all children, live in absolute poverty. It is the oldest democracy on earth but also one with the lowest voting rates among democracies and the highest per capita prison population in the world. The fastest developing countries in the world today are among those where the state pursues active industrial and trade policies; the few countries in the world in which almost no one is poor today are those in which the state has been engaged in massive social welfare and labor market policies.”

Adam Przeworski (1940) Polish-American academic

Source: Journal of Democracy. Vol. 3, Nr. 3 (1992), p. 46

Children, People, World, Democracy

“We strive to eradicate the commercial borders and obstacles between Arab countries so that we may achieve the dream of economic unity because political unity amongst Arabs has become a distant fantasy.”

Mohammed bin Rashid al-Maktoum (1949) Emirati politician

Leadership & Success quotes, http://www.sheikhmohammed.co.ae/vgn-ext-templating/v/index.jsp?vgnextoid=d2778960a5a11310VgnVCM1000004d64a8c0RCRD&appInstanceName=default, sheikhmohammed.ae.

Dreams, Distant, Country

“The ideal situation for any state is to experience sharp economic growth while its rivals' economies grow slowly or hardly at all.”

John Mearsheimer book The Tragedy of Great Power Politics

Source: The Tragedy of Great Power Politics (2001), Chapter 5, Strategies for Survival, p. 144

“The early thirties brought what liberal economists called the Great Depression and Marxist economists described as the great crisis of capitalism. It dawned on me that the economic world order was unreliable, unstable, and, most of all, iniquitous. I sought intellectual contacts and friendship with a group of socialist students and also with a small handful of communist-oriented students and unemployed workers.”

Tjalling Koopmans (1910–1985) Dutch American economist

" Tjalling C. Koopmans - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1975/koopmans-bio.html". Nobelprize.org. Nobel Media AB 2013. Web. 9 Jun 2014.

Friendship, World

“I was a student at the Delhi School at the very end of its Golden Age. The departments of economics and sociology were still world-class. Amartya Sen had left for England and M. N. Srinivas had retired to Bangalore; but Sukhamoy Chakravarty and André Béteille remained. There were also other brilliant scholars on the faculty—such as A. L. Nagar and Kaushik Basu in economics, and Veena Das and J. P. S. Uberoi in sociology. Both departments had active research programmes.”

Ramachandra Guha (1958) historian and writer from India

[Guha, Ramachandra, A SALUTE TO THE COFFEE HOUSE, http://ramachandraguha.in/archives/a-salute-to-the-coffee-house.html, The Telegraph, 29th September 2007]

Age, World, School

“Unfortunately, the process of gaining money in [a man’s] life usually meant alienating the wife in his life. Sometimes this leads to a legal divorce, but more often to a psychological divorce. Which is why a survey of doctors’ wives reported in Medical/Mrs. Found the doctors’ wives harboring hostility that was ‘stunning to behold.’ Yet the wives remained married to the doctors. Why? More than anything else, the wives said, they wanted security from marriage… the men, then, were often prostitutes to an illusion of emotional security. At least their wives had the reality of economic security.”

Warren Farrell book The Myth of Male Power

Source: The Myth of Male Power (1993), Part II: The Glass Cellars of the disposable sex, p. 203.

Life, Men, Money, Hostility

“"Be in high-growth markets." In the old economic order, in the age of market share, volume growth was a guarantor of success. Growth was what we were taught to pursue. It created higher profits for all, including market share laggards, companies with poor business designs, and companies that were poorly managed. A rising tide raised all boats. One manager articulated the classic view: "There are no management problems that volume growth can't solve. Even if we manage poorly, rising revenue helps cover the mistakes we made."”

Adrian Slywotzky (1951) American economist

Source: The Profit Zone (2007), p. 5.

Age, Business, Problem, Success

“Ecological Economics studies the ecology of humans and the economy of nature, the web of interconnections uniting the economic subsystem to the global ecosystem of which it is a part.”

Robert Costanza (1950) American economist

Robert Costanza, Ecological economics: the science and management of sustainability. Columbia University Press, 1992.

Nature, Study, Parting

“Success in the sociologists' aim might lead, in T. S. Eliot's phrase, to "systems so perfect that no one would need to be good." This view forgets that men long ago committed themselves to the endeavor to control their own collective behavior, not only in the ways sanctioned by the churches but in others, by making it to men's interest to do good. And they have increasingly based the endeavor on an understanding of natural laws of human behavior, those of economics, for example. So that the question is not: Shall this kind of control be undertaken? but: Where shall it stop? A sociologist might also argue that his religious critics have more faith in him than in their own doctrine, the doctrine that man is infinitely tough and resourceful and is not easily cheated of his freedom to sin. What God has given no man can take away, certainly no sociologist. More seriously, he might argue that the social sciences are not in train to eliminate morality but to make greater demands of it. A sociology that shows us unsuspected or not hitherto understood ways in which men are bound up with one another invites more refined answers to the question: "Am I my brother's keeper?"”

George C. Homans (1910–1989) American sociologist

George C. Homans (1956), "Giving a dog a bad name." in: The Listener, Vol. 56. p. 233; Reprinted in: George C. Homans (1962), Sentiments & activities; essays in social science https://archive.org/details/sentimentsactivi00homa, p. 117-8

Men, God, Faith, Law

“And it is just as important for the Republicans to read Jefferson's words because they are as bad and perhaps worse than the Democrats. As the decades of Democratic abuse of America's young unfolded, the Republicans have been utterly craven, seeking to save the young, the Constitution, and the republic with words alone when in opposition, and doing virtually nothing substantive to arrest the republic's decline when they hold power. Today, the Republicans cower, mumble, and equivocate when called 'extremists' by those heroic Democratic champions of murdering the unborn, they follow like murmuring sheep the shrill martial words of Senators Graham and McCain and so get young Americans uselessly killed and maimed in wars that are either unnecessary or ones they have no intention of winning, and they are barely brave enough to raise economic points and words of I-told-you-so to oppose the coming, liberty-killing indentured servitude of America's young in the name of Obamacare. Indeed, the Republicans seem increasingly like those gassy, self-righteous, and hell-bound rhetoricians.”

Michael Scheuer (1952) American counterterrorism analyst

As quoted in "Obama and his party offer America's young … death, misery, and slavery" http://non-intervention.com/1143/obama-and-his-party-offer-america%E2%80%99s-young-%E2%80%A6-death-misery-and-slavery/ (2013), by M. Scheuer, Michael Scheuer's Non-Intervention. 2010s

War, Hell, Reading

“For commitment theorists, political and economic ideologies that obey transcendent behavioral laws do for people pretty much what religious belief in the supernatural is supposed to do. One frequently cited example of religious-like ideology is Lenin's doctrine of dialectical materialism. An equally plausible candidate is what financier George Soros calls "market fundamentalism." Like more familiar religious doctrines, these promissory ideologies seem to maintain the faith no matter how many contrary facts or reasons they face. But if such secular ideologies perform the same functions as religious ideologies, then why did at least 50 percent of Marx-fearing Russians feel the need to preserve their belief in the supernatural (survey by Subbotsky 2000)? And why is the overwhelming majority of market believers also God-fearing (Novak 1999; Podhoretz 1999). What is it about belief in the supernatural that thwarts social defection and deception, underpinning moral orders as no secular ideology seems able to do for long?”

Scott Atran (1952) Anthropologist

Introduction: an evolutionary riddle, p. 14
In Gods We Trust: The Evolutionary Landscape of Religion (2002)

God, People, Fear, Faith

“All those words of praise they use for novels – spare, economical. Why should I shell out £17 for economical?”

Howard Jacobson (1942) British author and journalist

Interviewed in the Daily Telegraph, April 2003. http://www.telegraph.co.uk/arts/main.jhtml;$sessionid$FUVRY4DIEVBSTQFIQMFCFF4AVCBQYIV0?xml=/arts/2003/04/27/bojac27.xml&sSheet=/arts/2003/04/27/bomain.html

“While I usually came back from meeting Gandhiji elated and inspired but always a bit sceptical, and from talks with Jawaharlal, fired with emotional zeal but often confused and unconvinced, meetings with Vallabhbhai were a joy from which I returned with renewed confidence in the future of our country. I have often thought that if fate had decreed that he, instead of Jawaharlal, would be the younger of the two, India would have followed a very different path and would be in better economic shape that it is today.”

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

Keynote: Excerpts from his speeches and chairman's statements to shareholders

Fate, Confidence, Future, Joy

“The overall agenda here is quite simply the ruling classes, or the classes of Europe intend to stride on to the world stage as a powerful economic entity. And they want to be as powerful as the US, meaning they want a stronger foreign policy and a military wing to back them up. But I can assure the Government that the debate will be a very intensive debate, a very vigorous debate and I think the benefit perhaps this time is that certain distractions that were raised the last time would be set aside, and therefore we can concentrate on the more fundamental issues. […] Take for example this notion that Irish youth would be conscripted into an army. The only people I heard that from was Government ministers in the course of the campaign who said this is being said. Nobody here raised any such red herring. These were the so-called concerns that were being addressed. But the major concerns as to what the Treaty was really about has not been changed one iota.”

Joe Higgins (1949) Irish socialist politician

breakingnews.ie http://www.breakingnews.ie/ireland/eykfojojqlkf/

People, Youth, World, Thinking

“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense—perhaps more clearly and subtly than many consistent defenders of laissez-faire—that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

Gold and Economic Freedom http://www.constitution.org/mon/greenspan_gold.htm 1966 1950–60s

Sense, Freedom

“Economics as currently learned and taught in graduate school and practiced afterward is more theory-intensive and less observation-intensive than perhaps any other science. I think the statement that "no mere fact ever was a match in economics for a consistent theory" accurately describes the prevailing attitude in the profession”

Vernon L. Smith (1927) American economist

Milgrom and Roberts, 1987, p. 185
Source: "Theory, experiment and economics," 1989, p. 151.

School, Thinking, Learning, Science

“I do know enough about economics — and so do you — to understand that the 'stimulus program' of Barack Obama and his ravenous parasitic hordes, supposedly designed to 'repair' America's broken economy, reveals him to be unimaginably stupid, gibberingly insane, or simply the biggest, most barefaced criminal thug ever to occupy the White House.
And that's saying a lot.”

L. Neil Smith (1946) American writer

"A Little Austrian Flea," http://www.ncc-1776.org/tle2009/tle508-20090301-04.html 1 March 2009.

Stupidity, Understanding, Housing

“I've traveled through every part of this nation. I have met and spoken with thousands of Hispanics from every walk of life, from every social and economic class. And one thing I hear most often from Hispanics, regardless of age or position, and from many non-Hispanics as well, is that the farm workers gave them the hope that they could succeed and the inspiration to work for change.”

Cesar Chavez (1927–1993) American farm worker, labor leader, and civil rights activist

What the Future Holds (1984)

Life, Age, Hope, Travel

“Anyone who sits down for a moment to think about what the alternative would have looked like—a successful breakaway Confederacy—and how that would have flowed downstream has to be with impressed with what Lincoln was able to save us from. There is in the end no intrinsic reason why the Southern Confederacy should not have achieved its independence. And if they had, that would have had serious implications for the later role the North American continent plays in world affairs. Imagine a North American continent as divided politically and economically as South America. This would take the United States off the table as a major world player, and then what would you do with the history of the 20th century?”

Allen C. Guelzo (1953) American historian

2010s, Interview with Tom Mackaman (2013)

World, Imagination, History, Thinking

“I am often accused of interfering in the private lives of citizens. Yes, if I did not, had I not done that, we wouldn't be here today. And I say without the slightest remorse, that we wouldn't be here, we would not have made economic progress, if we had not intervened on very personal matters - who your neighbour is, how you live, the noise you make, how you spit, or what language you use. We decide what is right. Never mind what the people think.”

Lee Kuan Yew (1923–2015) First Prime Minister of Singapore

Prime Minister Lee Kuan Yew, Straits Times, 20 April 1987
1980s

People, Thinking, Personality

“A distinguished economist, on being asked to define the subject matter of his science, once replied, "Economics is what economists do."”

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

Source: 1940s, Economic Analysis, 1941, p. 3

Science

“Summers’s outlook on economic policy can be summarized by the remark that he gave me some years ago: “If I had your views on economics, I would find another profession.” He meant that if free markets usually worked well and the government ought usually to stay out, then he would find economics to be an uninteresting occupation. Fortunately for Summers, he has always believed in the potential benefits from governmental activism, although the strength of this belief may have diminished over time.”

Robert Barro (1944) American classical macroeconomist

Source: Nothing Is Sacred (2002), p. 33

Time, Summer

“Developing a culture of peace requires education for peace. Everyone — not only children — should be educated in compromise, cooperation, empathy, solidarity, compassion, restoration, mediation and reconciliation.6 Negotiation skills must be taught so as to prevent breaches of the peace and other forms of violence as well as to ensure a peaceful continuation of life after conflict. A philosophical paradigm change is necessary to break out of the prevailing culture of violence, the logic of power, practices of economic exploitation, cultural imperialism and impunity. A road map to this culture of peace entails a strategy to identify and remove obstacles, among which are the arms race, unilateralism and the tendency to apply international law à la carte.”

Alfred de Zayas (1947) American United Nations official

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

Life, Children, Education, Peace

Quotes about economics page 22

Quotes about economics
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