Quotes about economics

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Essays in Persuasion (1931), The Economic Consequences of Mr. Churchill (1925)

Source: Men in Chaos (1942), p. 17

Source: A stakeholder approach to strategic management, 1984, p. 40

Introduction to "The Red Paper On Scotland", 1975.

quoted by Mark Binelli of Rolling Stone http://www.rollingstone.com/politics/news/mayor-bill-de-blasios-crusade-20150506.

Preface
1940s, The Economics of Peace, 1945

The Times (8 September 1977).

Source: The Power Elite (1956), P. 270-272; key shifts in power relations which Mills contends have brought us to the current state.

Buddhist Economics

The Future of Civilization (1938)

Cynthia Eagle Russett. Sexual Science: The Victorian Construction of Womanhood. Harvard University Press, 2009. Abstract

Interview with Four Corners, ABC TV, 19 February 1996.

Direct Action (1912)

Speech in the House of Commons (13 March 1974) http://hansard.millbanksystems.com/commons/1974/mar/13/industry-and-energy
1970s

Ibid. (p. 118).
What's the Matter with Kansas? (2004)

Appeal signed by Tariq Ali in The Guardian, March 26, 2005. http://www.guardian.co.uk/letters/story/0,3604,1445897,00.html

The Negro and His Nemesis (1904)

Source: The Political Economy Of Growth (1957), Chapter Seven, Towards A Morphology Of Backwardness, II, p. 244

Sabhal Mòr Ostaig Lecture (December 19, 2007)

"Which Way Forward for Macroeconomics and Policy Analysis?" 2013

A Journey Through Economic Time (1994)

Standing by Words: Essays (2011), Poetry and Marriage: The Use of Old Forms (1982)

Frank Dobbin (1993), "The Social Construction of the Great Depression: Industrial Policy during the 1930s in the United States, Britain and France," in: Theory and Society 22, p. 49; As cited in: Kieran Healy (1998)

Stanley Fischer, quoted in Dylan Matthews, "Stan Fischer saved Israel’s economy. Can he save America’s?" http://www.washingtonpost.com/blogs/wonkblog/wp/2013/02/15/stan-fischer-saved-israels-economy-can-he-save-americas/, washingtonpost.com, 2013/02/15

Hansard, House of Commons, 6th Series, vol. 45, col. 316.
Maiden speech as MP for Sedgefield, 6 July 1983.
1980s

a comment on Facebook (June 2012) http://www.facebook.com/julia.galef/posts/10100387951009862

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

Remaking the world, The Speeches of Frank N.D. Buchman, Blandford Presss 1947, revised 1958, p. 150
Quotes on the war of ideas

"Syria Army in Crucial and Heroic Battle says Bashar Al Assad" http://www.telegraph.co.uk/news/worldnews/middleeast/syria/9443296/Syria-army-in-crucial-and-heroic-battle-says-Bashar-al-Assad.html, Daily Telegraph (1 August 2012)

Source: Foundations of fuzzy reasoning (1976), p. 623.

Kenneth Boulding (1961). "Contemporary economic research: . In Donald P. Ray (Ed.) Trends in social science. p..19 cited in: Erik Angner & George Loewenstein (2006) Behavioral Economics http://www.cmu.edu/dietrich/sds/docs/loewenstein/BehavioralEconomics.pdf
1960s

Source: "The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields," 1983, p. 150.

Preface To The First Edition, p. 3.
The Theory of Political Economy (1871)

As quoted in Yorkshire Post (22 November 1976)
1970s

Genes and Sexuality: An Exchange (1995)

Source: The lever of riches: Technological creativity and economic progress, 1992, p. 295; as cited by Pol, Eduardo, and Peter Carroll.

Source: The Profit Zone (2007), p. 3.

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

Vernon L. Smith, in "Reflections on Human Action after 50 years", in Cato Journal, Vol. 9, No. 2. (Fall 1999).

Source: The Rise of China and the Demise of the Capitalist World-Economy (2008), Chapter 1: Introduction to China and the Capitalist World-Economy

But I would rather go back to the old days when even the most modest attempt by Government to intervene in commerce and industry was rudely rebuffed.
March 27, 1968, page 213.
Official Report of Proceedings of the Hong Kong Legislative Council

Quoted in A Life of Azikiwe by K. A. B. Jones-Quartey (Penguin, 1965), p. 116

Simple mathematical models with very complicated dynamics (1976), Nature 261: 459--467

Epilogue: Politics, p. 278 (Last text lines...)
The Economic Illusion (1984)

" Reluctant Tsipras fights to pass reforms in Greek parliament http://www.investing.com/news/economy-news/reluctant-tsipras-fights-to-pass-reforms-in-greek-parliament-351286" (15 July 2015)

The Education of Henry Adams (1907)
Context: p>The result might have been stated in a mathematical formula as early as the time of Archimedes, six hundred years before Rome fell. The economic needs of a violently centralizing society forced the empire to enlarge its slave-system until the slave-system consumed itself and the empire too, leaving society no resource but further enlargement of its religious system in order to compensate for the losses and horrors of the failure. For a vicious circle, its mathematical completeness approached perfection. The dynamic law of attraction and reaction needed only a Newton to fix it in algebraic form.At last, in 410, Alaric sacked Rome, and the slave-ridden, agricultural, uncommercial Western Empire — the poorer and less Christianized half — went to pieces. </p

1920s, The Reign of Law (1925)
Context: This increasing unification has well-nigh obliterated State lines so far as concerns many relations of life. Yet, in a country of such enormous expanse, there must always be certain regional differences in social outlook and economic thought. The most familiar illustration of this is found in the history of slavery. The Constitution did not interfere with slavery, except to fix a time when the foreign slave trade should be abolished. Yet within a generation the country was confronting a sharp sectional division on this issue. Changing economic conditions made slavery profitable in the south, but left it unprofitable in the north. The resulting war might have been avoided if the south had adopted a policy of ultimate abolition. But as this method was not pursued the differences grew sharper until they brought on the great conflict.

Power and the Useful Economist (1973)
Context: This is what economics now does. It tells the young and susceptible (and also the old and vulnerable) that economic life has no content of power and politics because the firm is safely subordinate to the market and the state and for this reason it is safely at the command of the consumer and citizen. Such an economics is not neutral. It is the influential and invaluable ally of those whose exercise of power depends on an acquiescent public. If the state is the executive committee of the great corporation and the planning system, it is partly because neoclassical economics is its instrument for neutralizing the suspicion that this is so.

Source: V. (1963), Chapter Eight
Context: The eyes of New York women do not see the wandering bums or the boys with no place to go. Material wealth and getting laid strolled arm-in-arm the midway of Profane’s mind. If he’d been the type who evolves theories of history for his own amusement, he might have said all political events: wars, governments and uprisings, have the desire to get laid as their roots; because history unfolds according to economic forces and the only reason anybody wants to get rich is so he can get laid steadily, with whoever he chooses. All he believed at this point, on the bench behind the library was, that any body who worked for inanimate money so he could by more inanimate objects was out of his head. Inanimate money was to get animate warmth, dead fingernails in the living shoulderblades, quick cries against the pillow, tangled hair, lidded eyes, listing loins.

Context: The big, looming, monetary issue is "quantitative easing": that is, printing money. What happens is that the government borrows from the Bank of England, not from the markets. It expands the money supply to keep the economy going and also to counter deflation without simultaneously increasing government debt. The attractions are obvious, as are the dangers. The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope. Monetary easing may prove to be necessary but will have to be managed with great skill and care: Too little easing and the crisis drags on – as in Japan. If there is too much, the authorities face the messy task of mopping-up liquidity by issuing bonds which add to the burden of borrowing or else we lurch back from deflation to inflation. So interest rates may soon become yesterday's story.

The Australian Conservation Foundation, Canberra (April 1970)
The Environmental Revolution: Speeches on Conservation, 1962–77 (1978)
Context: A new criterion has been added, the conservation of the environment so that in the long run life, including human life, can continue. This new consideration must be taken into account at all levels and in all departments of government and in the boardrooms of every industrial enterprise. It is no longer sufficient simply to quantify the elements of existence as in old-fashioned material economics; conservation means taking notice of the quality of existence as well... The problem is of course to give some value to that quality and perhaps the only way to do this is to try and work out the cost in terms of loss of amenities, loss of holiday and recreation facilities, loss of property values, loss of contact with nature, loss of health standards and loss of food resources, if proper conservation methods are not used. Looked at in that light it may well turn out that money spent on proper pollution control, urban and rural planning and the control of exploitation of wild stocks of plants or animals on land and in the sea, is the less expensive alternative in the long run... The conservation of nature, the proper care for the human environment and a general concern for the long-term future of the whole of our planet are absolutely vital if future generations are to have a chance to enjoy their existence on this earth.

Day of Affirmation Address (1966)
Context: The road toward equality of freedom is not easy, and great cost and danger march alongside us. We are committed to peaceful and nonviolent change, and that is important for all to understand — though all change is unsettling. Still, even in the turbulence of protest and struggle is greater hope for the future, as men learn to claim and achieve for themselves the rights formerly petitioned from others. And most important of all, all of the panoply of government power has been committed to the goal of equality before the law, as we are now committing ourselves to the achievement of equal opportunity in fact. We must recognize the full human equality of all of our people before God, before the law, and in the councils of government. We must do this, not because it is economically advantageous, although it is; not because the laws of God command it, although they do; not because people in other lands wish it so. We must do it for the single and fundamental reason that it is the right thing to do.

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

Individualism and Socialism (1933)
Context: Even if the days of 1928 and early 1929 could be brought back again, the economic situation would be utterly indefensible on moral grounds. The greedy scramble for private gain and special privilege, the gambling spirit and the ruthless determination to gain wealth by means fair and foul, the callous indifference to how the other half lived or at most the throwing of a few crumbs of philanthropy, the bitter exploitation of the weak and the brutal suppression of the workers as they attempted to organize in defense of their minimum rights, the cruel assumption that there must always be a wide gulf between the rich and the poor, the willingness to send unnumbered victims to their doom on the battlefield in defense of vested interests—all these and countless other evils are inherent in the economic order which held sway in 1929. God forbid that we should have any desire to return to that living hell!

Interview with Laura Knoy, New Hampshire Public Radio (5 November 2003)
Context: I think General Eisenhower was exactly right, I think we should be concerned about the military-industrial complex. I think if you look at where the country is today you've consolidated all these defense firms into just a few large firms — like Halliburton — and with contracts and contacts at the top level of government. You've got most of the retired generals are one way or another associated with the defense firms — that's the reason that you'll find very few of them speaking out in any public way — I'm not. When I got out I determined I wasn't going to sell arms, I was going to do as little as possible with the Department of Defense because I just figured it was time to make a new start. But I think the military-industrial complex does wield a lot of influence — I'd like to see us create a different complex. And I'm going to be talking about foreign policy in a major speech tomorrow, but we need to create an agency that is not about waging war but about creating conditions for peace around the world. We need some people who will be advocates for peace, advocates for economic development abroad, not just advocates for better weapon systems. So we need to create countervailing power to the military-industrial complex.

"I Agree With Me" (July/August 2004)

1960s, Where Do We Go from Here: Chaos or Community? (1967)
Context: Power properly understood is nothing but the ability to achieve purpose. It is the strength required to bring about social, political and economic change. … Now a lot of us are preachers, and all of us have our moral convictions and concerns, and so often have problems with power. There is nothing wrong with power if power is used correctly. You see, what happened is that some of our philosophers got off base. And one of the great problems of history is that the concepts of love and power have usually been contrasted as opposites — polar opposites — so that love is identified with a resignation of power, and power with a denial of love.
It was this misinterpretation that caused Nietzsche, who was a philosopher of the will to power, to reject the Christian concept of love. It was this same misinterpretation which induced Christian theologians to reject the Nietzschean philosophy of the will to power in the name of the Christian idea of love. Now, we've got to get this thing right. What is needed is a realization that power without love is reckless and abusive, and love without power is sentimental and anemic. Power at its best is love implementing the demands of justice, and justice at its best is power correcting everything that stands against love. And this is what we must see as we move on. What has happened is that we have had it wrong and confused in our own country, and this has led Negro Americans in the past to seek their goals through power devoid of love and conscience.
This is leading a few extremists today to advocate for Negroes the same destructive and conscienceless power that they have justly abhorred in whites. It is precisely this collision of immoral power with powerless morality which constitutes the major crisis of our times.

1820s, Letter to F. Corbin (1820)
Context: I do not mean to discuss the question how far slavery and farming are incompatible. Our opinions agree as to the evil, moral, political, and economical, of the former.

"Conserving Forest Communities".
Another Turn of the Crank (1996)
Context: By this time, the era of cut-and-run economics ought to be finished. Such an economy cannot be rationally defended or even apologized for. The proofs of its immense folly, heartlessness, and destructiveness are everywhere. Its failure as a way of dealing with the natural world and human society can no longer be sanely denied. That this economic system persists and grows larger and stronger in spite of its evident failure has nothing to do with rationality or, for that matter, with evidence. It persists because, embodied now in multinational corporations, it has discovered a terrifying truth: If you can control a people’s economy, you don’t need to worry about its politics; its politics have become irrelevant. If you control people’s choices as to whether or not they will work, and where they will work, and what they will do, and how well they will do it, and what they will eat and wear, and the genetic makeup of their crops and animals, and what they will do for amusement, then why should you worry about freedom of speech? In a totalitarian economy, any "political liberties" that the people might retain would simply cease to matter. If, as is often the case already, nobody can be elected who is not wealthy, and if nobody can be wealthy without dependence on the corporate economy, then what is your vote worth? The citizen thus becomes an economic subject.

The Marshall Plan Speech (1947)
Context: The truth of the matter is that Europe's requirements for the next three or four years of foreign food and other essential products — principally from America — are so much greater than her present ability to pay that she must have substantial additional help or face economic, social, and political deterioration of a very grave character.
The remedy lies in breaking the vicious circle and restoring the confidence of the European people in the economic future of their own countries and of Europe as a whole. The manufacturer and the farmer throughout wide areas must be able and willing to exchange their product for currencies, the continuing value of which is not open to question.

Source: Anarcho-Syndicalism (1938), Ch. 1 "Anarchism: Its Aims and Purposes"
Context: Power operates only destructively, bent always on forcing every manifestation of life into the straitjacket of its laws. Its intellectual form of expression is dead dogma, its physical form brute force. And this unintelligence of its objectives sets its stamp on its supporters also and renders them stupid and brutal, even when they were originally endowed with the best of talents. One who is constantly striving to force everything into a mechanical order at last becomes a machine himself and loses all human feeling.
It was from the understanding of this that modern Anarchism was born and now draws its moral force. Only freedom can inspire men to great things and bring about social and political transformations. The art of ruling men has never been the art of educating men and inspiring them to a new shaping of their lives. Dreary compulsion has at its command only lifeless drill, which smothers any vital initiative at its birth and can bring forth only subjects, not free men. Freedom is the very essence of life, the impelling force in all intellectual and social development, the creator of every new outlook for the future of mankind. The liberation of man from economic exploitation and from intellectual and political oppression, which finds its finest expression in the world-philosophy of Anarchism, is the first prerequisite for the evolution of a higher social culture and a new humanity.

Part 6 : Doing Sixty, p. 270
Moving Beyond Words (1994)
Context: I'm not sure feminism should require an adjective. Believing in the full social, political, and economic quality of women, which is what the dictionary says "feminism" means, is enough to make a revolution in itself. But if I had to choose only one adjective, I still would opt for radical feminist. I know patriarchs keep equating that word with violent or man-hating, crazy or extremist — though being a plain vanilla feminist doesn't keep one safe from such epithets either, nor does "I'm not a feminist, but..." Nonetheless, radical seems an honest indication of the fundamental change we have in mind and says what probably is the case: the false division of human nature into “feminine” and “masculine” is the root of all other divisions into subject and object, active and passive — the beginning of hierarchy.

The Coal Question (1865)
Context: It is very commonly urged, that the failing supply of coal will be met by new modes of using it efficiently and economically.... It is wholly a confusion of ideas to suppose that the economical use of fuel is equivalent to a diminished consumption. The very contrary is the truth.

Source: 1950s–1970s, Maximum Principles in Analytical Economics, 1970, p. 69
Context: There is really nothing more pathetic than to have an economist or a retired engineer try to force analogies between the concepts of physics and the concepts of economics. How many dreary papers have I had to referee in which the author is looking for something that corresponds to entropy or to one or another form of energy. Nonsensical laws, such as the law of conservation of purchasing power, represent spurious social science imitations of the important physical law of the conservation of energy; and when an economist makes reference to a Heisenberg Principle of indeterminacy in the social world, at best this must be regarded as a figure of speech or a play on words, rather than a valid application of the relations of quantum mechanics.

Source: Psychology and Industrial Efficiency (1913), p. 3-4 ; Introduction, lead paragraph
Context: Our aim is to sketch the outlines of a new science which is to intermediate between the modern laboratory psychology and the problems of economics: the psychological experiment is systematically to be placed at the service of commerce and industry. So far we have only scattered beginnings of the new doctrine, only tentative efforts and disconnected attempts which have started, sometimes in economic, and sometimes in psychological, quarters. The time when an exact psychology of business life will be presented as a closed and perfected system lies very far distant. But the earlier the attention of wider circles is directed to its beginnings and to the importance and bearings of its tasks, the quicker and the more sound will be the development of this young science. What is most needed to-day at the beginning of the new movement are clear, concrete illustrations which demonstrate the possibilities of the new method. In the following pages, accordingly, it will be my aim to analyze the results of experiments which have actually been carried out, experiments belonging to many different spheres of economic life. But these detached experiments ought always at least to point to a connected whole; the single experiments will, therefore, always need a general discussion of the principles as a background. In the interest of such a wider perspective we may at first enter into some preparatory questions of theory. They may serve as an introduction which is to lead us to the actual economic life and the present achievements of experimental psychology

American Communications Association v. Douds, 339 U.S. 382, 438 (1950)
Judicial opinions

Source: Christianity and the Social Crisis (1907), Ch.2 The Social Aims of Jesus, p. 47
Context: Men are seizing on Jesus as the exponent of their own social convictions. They all claim him.... But in truth Jesus was not a social reformer of the modern type... he approached these facts purely from the moral, and not from the economic or historical point of view.

Source: Nationalism and Culture (1937), Ch. 15 "Nationalism — A Political Religion"
Context: The growth of technology at the expense of human personality, and especially the fatalistic submission with which the great majority surrender to this condition, is the reason why the desire for freedom is less alive among men today and has with many of them given place completely to a desire for economic security. This phenomenon need not appear so strange, for our whole evolution has reached a stage where nearly every man is either ruler or ruled; sometimes he is both. By this the attitude of dependence has been greatly strengthened, for a truly free man does not like to play the part of either the ruler or the ruled. He is, above all, concerned with making his inner values and personal powers effective in a way as to permit him to use his own judgment in all affairs and to be independent in action. Constant tutelage of our acting and thinking has made us weak and irresponsible; hence, the continued cry for the strong man who is to put an end to our distress. This call for a dictator is not a sign of strength, but a proof of inner lack of assurance and of weakness, even though those who utter it earnestly try to give themselves the appearance of resolution. What man most lacks he most desires. When one feels himself weak he seeks salvation from another's strength; when one is cowardly or too timid to move one's own hands for the forging of one's fate, one entrusts it to another. How right was Seume when he said: "The nation which can only be saved by one man and wants to be saved that way deserves a whipping!"

Quotes, Our Larger Tasks (2002)
Context: We must acknowledge that the utter poverty of hundreds of millions of people is not a matter for compassion only, but a threat in the long term to the growth and vigor of the global economic system. We must see it as a part of our charge to help create economic opportunity so that the gap between the richest and poorest does not grow ever wider.

Source: Peace of Soul (1949), Ch. 2, p. 27
Context: It is assumed by many reformers that the principal and major cause of unhappiness is economic insecurity, but this theory forgets that there are economic problems only because men have not solved the problems of their own souls. Economic disorder is a symptom of spiritual disorder.

The Abolition of Work (1985)
Context: I am not playing definitional games with anybody. When I say I want to abolish work, I mean just what I say, but I want to say what I mean by defining my terms in non-idiosyncratic ways. My minimun definition of work is forced labor, that is, compulsory production. Both elements are essential. Work is production enforced by economic or political means, by the carrot or the stick. (The carrot is just the stick by other means.) But not all creation is work. Work is never done for its own sake, it's done on account of some product or output that the worker (or, more often, somebody else) gets out of it. This is what work necessarily is. To define it is to despise it. But work is usually even worse than its definition decrees. The dynamic of domination intrinsic to work tends over time toward elaboration. In advanced work-riddled societies, including all industrial societies whether capitalist or "communist," work invariably acquires other attributes which accentuate its obnoxiousness.
Usually—and this is even more true in "communist" than capitalist countries, where the state is almost the only employer and everyone is an employee — work is employment, i. e., wage-labor, which means selling yourself on the installment plan. Thus 95% of Americans who work, work for somebody (or something) else. In the USSR or Cuba or Yugoslavia or Nicaragua or any other alternative model which might be adduced, the corresponding figure approaches 100%. Only the embattled Third World peasant bastions — Mexico, India, Brazil, Turkey — temporarily shelter significant concentrations of agriculturists who perpetuate the traditional arrangement of most laborers in the last several millennia, the payment of taxes (ransom) to the state or rent to parasitic landlords in return for being otherwise left alone. Even this raw deal is beginning to look good. All industrial (and office) workers are employees and under the sort of surveillance which ensures servility.

Source: Anarcho-Syndicalism (1938), Ch. 1 "Anarchism: Its Aims and Purposes"
Context: Anarchism is a definite intellectual current in the life of our times, whose adherents advocate the abolition of economic monopolies and of all political and social coercive institutions within society. In place of the present capitalistic economic order Anarchists would have a free association of all productive forces based upon co-operative labour, which would have as its sole purpose the satisfying of the necessary requirements of every member of society, and would no longer have in view the special interest of privileged minorities within the social union.
In place of the present state organisation with their lifeless machinery of political and bureaucratic institutions Anarchists desire a federation of free communities which shall be bound to one another by their common economic and social interest and shall arrange their affairs by mutual agreement and free contract.

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 3, More trade, fewer ideologies, p. 83
Context: The importance of international trade for economic development cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the country employs a mixture of protection and open trade, constantly adjusting it according to its changing needs and capabilities. Trade is simply too important for economic development to be left to free trade economists.

the misdiagnosis of unemployment, the fear of saving, and the unjustified faith in government intervention — affected the fundamental ideas of policy makers for a generation and altered such basic institutions of our economy as the tax laws, the social insurance programs and the financial system. Changing these deeply ingrained aspects of economic life can happen only slowly. But the economics profession has undoubtedly begun to re-examine and re-evaluate the Keynesian notions that have been so dominant for the past 35 years. There is a return to older and more basic economic truths and an attempt to adapt these ideas to the changing conditions of technology and affluence. From this is emerging a new view of unemployment, of saving, and of the role of government.
"The Retreat from Keynesian Economics", The Public Interest (1981).

Anarchism: Its Philosophy and Ideal (1896)
Context: Not only has a coercive system contributed and powerfully aided to create all the present economical, political and social evils, but it has given proof of its absolute impotence to raise the moral level of societies; it has not been even able to maintain it at the level it had already reached. If a benevolent fairy could only reveal to our eyes all the crimes that are committed every day, every minute, in a civilized society under cover of the unknown, or the protection of law itself, — society would shudder at that terrible state of affairs.

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)
Context: The Congress must give authority to Puerto Rico to restructure its debts. Just like it has enabled states and cities to restructure their debt. And it’s a grave injustice for the Congress, led by the Republicans to be refusing to enact that opportunity within the bankruptcy law.... Puerto Ricans are citizen of America. They deserve to be treated as citizens and to be given the opportunity to get back on their feet economically.

As quoted in Nikos Kazantzakis (1968) by Helen Kazantzakis, p. 529
Context: Having seen that I was not capable of using all my resources in political action, I returned to my literary activity. There lay the the battlefield suited to my temperament. I wanted to make my novels the extension of my own father's struggle for liberty. But gradually, as I kept deepening my responsibility as a writer, the human problem came to overshadow political and social questions. All the political, social, and economic improvements, all the technical progress cannot have any regenerating significance, so long as our inner life remains as it is at present. The more the intelligence unveils and violates the secrets of Nature, the more the danger increases and the heart shrinks.

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 7: 'Mission impossible?; Can financial prudence go too far?', There is inflation and there is inflation, p. 149
Context: Inflation is bad for growth—this has become one of the most widely accepted economic nostrums of our age. But see how you feel about it after digesting the following piece of information.
During the 1960s and the 1970s, Brazil's average inflation rate was 42% a year. Despite this, Brazil was one of the fastest growing economies in the world for those two decades—its per capita income grew at 4.5% a year during this period. In contrast, between 1996 and 2005, during which time Brazil embraced the neo-liberal orthodoxy, especially in relation to macroeconomic policy, its inflation rate averaged a much lower 7.1% a year. But during this period, per capita income in Brazil grew at only 1.3% a year.
If you are not entirely persuaded by the Brazilian case—understandable, given that hyperinflation went side by side with low growth in the 1980s and the early 1990s—how about this? During its 'miracle' years, when its economy was growing at 7% a year in per capita terms, Korea had inflation rates close to 20%-17.4% in the 1960s and 19.8% in the 1970s. These were rates higher than those found in several Latin American countries... Are you still convinced that inflation is incompatible with economic success?

Source: 1960s, The meaning of the twentieth century: the great transition, 1964, p. 116. partly cited in: (2013) " What Boulding Said Went Wrong with Economics, A Quarter Century On http://www.deirdremccloskey.com/editorials/boulding.php"
Context: The success of Japanese development is due simply to the fact that Japan devoted a substantial portion of its resources to the growth industry, and particularly to the human resources and then commended Max Weber's emphasis on hard work and thrift.
All the law and the prophets of economic development can be summed up in the old proverb that "where there's a will there's a way". The way indeed is absurdly easy and is well known. It consists merely in putting resources into growth. What could be simpler and easier! the problem however, is the will, and this. I think, we understand very little. The whole cultural milieu of society plays a role in the process of developing its will, and it is hard to separate the determining factors. A widespread puritan ethic, as Max Weber pointed out, is undoubtedly an asset, if this leads people to place a high value on hard work and thrift. On the other hand, puritanism often goes along with a resistance to social change and an unwillingness to innovate outside a narrow field of technology, and thrift alone can often lead to uncreative forms of accumulation or even to unemployment and depression. Mere accumulation is not enough. Economic development does not consist merely in the piling up of things, but in the accumulation of new kinds of things.

Source: My Life and Work (1922), p. 9
Context: The economic fundamental is labour. Labour is the human element which makes the fruitful seasons of the earth useful to men. It is men 's labour that makes the harvest what it is. That is the economic fundamental: every one of us is working with material which we did not and could not create, but which was presented to us by Nature.

1930s, Speech to the Democratic National Convention (1936)
Context: For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people's property, other people's money, other people's labor — other people's lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.
Against economic tyranny such as this, the American citizen could appeal only to the organized power of government. The collapse of 1929 showed up the despotism for what it was. The election of 1932 was the people's mandate to end it. Under that mandate it is being ended.

Source: Liberalism (1927), Ch. 1 : The Foundations of Liberal Policy § 10 : The Argument of Fascism
Context: Repression by brute force is always a confession of the inability to make use of the better weapons of the intellect — better because they alone give promise of final success. This is the fundamental error from which Fascism suffers and which will ultimately cause its downfall. The victory of Fascism in a number of countries is only an episode in the long series of struggles over the problem of property. The next episode will be the victory of Communism. The ultimate outcome of the struggle, however, will not be decided by arms, but by ideas. It is ideas that group men into fighting factions, that press the weapons into their hands, and that determine against whom and for whom the weapons shall be used. It is they alone, and not arms, that, in the last analysis, turn the scales.
So much for the domestic policy of Fascism. That its foreign policy, based as it is on the avowed principle of force in international relations, cannot fail to give rise to an endless series of wars that must destroy all of modern civilization requires no further discussion. To maintain and further raise our present level of economic development, peace among nations must be assured. But they cannot live together in peace if the basic tenet of the ideology by which they are governed is the belief that one's own nation can secure its place in the community of nations by force alone.
It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history. But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error.

As quoted in "The Gentle Philosopher" (2006) by John Little at Will Durant Foundation
Context: Perhaps the cause of our contemporary pessimism is our tendency to view history as a turbulent stream of conflicts — between individuals in economic life, between groups in politics, between creeds in religion, between states in war. This is the more dramatic side of history; it captures the eye of the historian and the interest of the reader. But if we turn from that Mississippi of strife, hot with hate and dark with blood, to look upon the banks of the stream, we find quieter but more inspiring scenes: women rearing children, men building homes, peasants drawing food from the soil, artisans making the conveniences of life, statesmen sometimes organizing peace instead of war, teachers forming savages into citizens, musicians taming our hearts with harmony and rhythm, scientists patiently accumulating knowledge, philosophers groping for truth, saints suggesting the wisdom of love. History has been too often a picture of the bloody stream. The history of civilization is a record of what happened on the banks.

Source: 1940s, Economic Analysis, 1941, p. 614 (rev. ed. 1948) as cited in: Andrew McMeekin (2002) Innovation by Demand. p. 131

The Morals of Economic Irrationalism (1920)
Context: The richly nourished patriotism of war breeds divisions and antagonisms which are easily exploited afterwards by political, racial, religious, and cultural passions, but most of all by economic interests.<!--p.51

Testimony to the US House of Representatives (1982)
Context: We are facing a very new and a very troubling assault on our fiscal security, on our very economic life and we are facing it from a thing called the video cassette recorder and its necessary companion called the blank tape. And it is like a great tidal wave just off the shore. This video cassette recorder and the blank tape threaten profoundly the life-sustaining protection, I guess you would call it, on which copyright owners depend, on which film people depend, on which television people depend and it is called copyright.

Letter to The New York Times (27 February 1997)
Context: Whatever their limitations, Freud and Marx developed complex and subtle theories of human nature grounded in their observation of individual and social behavior. The crackpot rationalism of free-market economics merely relies on an abstract model of how people "must" behave.

As quoted in The Many Faces of Socialism Comparative Sociology and Politics (1983) by Paul Hollander, p. 224,
Context: I am not interested in dry economic socialism. We are fighting against misery, but we are also fighting against alienation. One of the fundamental objectives of Marxism is to remove interest, the factor of individual interest, and gain, from people's psychological motivations. Marx was preoccupied both with economic factors and with their repercussions on the spirit. If communism isn't interested in this too, it may be a method of distributing goods, but it will never be a revolutionary way of life.

The Alchemy of Finance: Reading the Mind of the Market (1987)
Context: Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating.

Source: Anarcho-Syndicalism (1938), Ch. 1 "Anarchism: Its Aims and Purposes"
Context: The economic dictatorship of the monopolies and the political dictatorship of the totalitarian state are the outgrowth of the same political objectives, and the directors of both have the presumption to try to reduce all the countless expressions of social life to the mechanical tempo of the machine and to tune everything organic to the lifeless machine of the political apparatus. Our modern social system has split the social organism in every country into hostile classes internally, and externally it has broken the common cultural circle up into hostile nations; and both classes and nations confront one another with open antagonism and by their ceaseless warfare keep the communal social life in continual convulsions.

"Psychoanalyse und Soziologie" (1929); published as "Psychoanalysis and Sociology" as translated by Mark Ritter, in Critical Theory and Society : A Reader (1989) edited by S. E. Bronner and D. M. Kellner
Context: The application of psychoanalysis to sociology must definitely guard against the mistake of wanting to give psychoanalytic answers where economic, technical, or political facts provide the real and sufficient explanation of sociological questions. On the other hand, the psychoanalyst must emphasize that the subject of sociology, society, in reality consists of individuals, and that it is these human beings, rather than abstract society as such, whose actions, thoughts, and feelings are the object of sociological research.

Individualism and Socialism (1933)

Interview by V. K. Ramachandran in Frontline, November 11, 2001 http://www.chomsky.info/interviews/20011115.htm.
Quotes 2000s, 2001
Context: Right after September 11, the U. S. Trade Representative, Robert Zoellick, said the first thing that had to be done to combat terrorism was to pass fast-track. Now that should really make Osama bin Laden tremble in his boots - that the President has Kremlin-style authority to sign economic agreements.

Man's Rise to Civilization (1968)
Context: Balanced reciprocity is as much a social compact as it is an economic advantage. It is particularly important in hunting-gathering societies, where no individual could possibly accumulate a surplus, live independently of other members of the band, or become so successful in the quest for food as never to need meat from someone else's kill.<!-- p. 44

"The Clash of Civilizations?," in Foreign Affairs (1993)
Context: It is my hypothesis that the fundamental source of conflict in this new world will not be primarily ideological or primarily economic. The great divisions among humankind and the dominating source of conflict will be cultural. Nation-states will remain the most powerful actors in world affairs, but the principal conflicts of global politics will occur between nations and groups of different civilizations. The clash of civilizations will dominate global politics. The fault lines between civilizations will be the battle lines of the future.

Pages 22–23.
"The Scope and Method of Political Economy in the Light of the 'Marginal' Theory of Value and Distribution" (1914), §II
Context: Social reformers and legislators will never be economists, and they will always work on economic theory of one kind or another. They will quote and apply such dicta as they can assimilate, and such acknowledged principles as seem to serve their turn. Let us suppose there were a recognised body of economic doctrine the truth and relevancy of which perpetually revealed itself to all who looked below the surface, which taught men what to expect and how to analyse their experience; which insisted at every turn on the illuminating relation between our conduct in life and our conduct in business; which drove the analysis of our daily administration of our individual resources deeper, and thereby dissipated the mist that hangs about our economic relations, and concentrated attention upon the uniting and all-penetrating principles of our study. Economics might even then be no more than a feeble barrier against passion, and might afford but a feeble light to guide honest enthusiasm, but it would exert a steady and a cumulative pressure, making for the truth. While the experts worked on severer methods than ever, popularisers would be found to drive homely illustrations and analogies into the general consciousness; and the roughly understood dicta bandied about in the name of Political Economy would at any rate stand in some relation to truth and to experience, instead of being, as they too often are at present, a mere armoury of consecrated paradoxes that cannot be understood because they are not true, that every one uses as weapons while no one grasps them as principles.

Source: Why We Fail as Christians (1919), p. 67-68
Context: His [Tolstoy's] interpretation of the Christian teaching is very similar to that which prevailed in nearly every peasant community in western Europe in the Middle Ages. Like doctrines gave rise to a peasant movement in Armenia in the ninth century, and in the fourteenth; a revolt of the peasants in England resulted from the teaching of the Lollards. The Anabaptists, the Hussites, and many other sects of Christian communists arose in the following centuries. There is a peculiar soil in which these doctrines take root. Wherever the chief economic problem is the unjust distribution of land, Christian communism seems to appeal to the masses.

The Educational enterprise in the Light of the Gospel (13 November 1988).
Context: Churches also have their problems with a Jesus whose only economics are jokes. A savior undermines the foundations of any social doctrine of the Church. But that is what He does, whenever He is faced with money matters. According to Mark 12:13 there was a group of Herodians who wanted to catch Him in His own words. They ask "Must we pay tribute to Caesar?" You know His answer: "Give me a coin – tell me whose profile is on it!." Of course they answer "Caesar's."
The drachma is a weight of silver marked with Caesar's effigy.
A Roman coin was no impersonal silver dollar; there was none of that "trust in God" or adornment with a presidential portrait. A denarius was a piece of precious metal branded, as it were, like a heifer, with the sign of the personal owner. Not the Treasury, but Caesar coins and owns the currency. Only if this characteristic of Roman currency is understood, one grasps the analogy between the answer to the devil who tempted Him with power and to the Herodians who tempt Him with money. His response is clear: abandon all that which has been branded by Caesar; but then, enjoy the knowledge that everything, everything else is God's, and therefore is to be used by you.
The message is so simple: Jesus jokes about Caesar. He shrugs off his control. And not only at that one instance… Remember the occasion at the Lake of Capharnaum, when Peter is asked to pay a twopenny tax. Jesus sends him to throw a line into the lake and pick the coin he needs from the mouth of the first fish that bites. Oriental stories up to the time of Thousand Nights and One Night are full of beggars who catch the fish that has swallowed a piece of gold. His gesture is that of a clown; it shows that this miracle is not meant to prove him omnipotent but indifferent to matters of money. Who wants power submits to the Devil and who wants denarri submits to the Caesar.

Atheism Questions and Answers
Context: Further, economic systems … have never arranged themselves by themselves. It is men who do the ordering according to their attitudes, desires and understanding of things. Changes take place, not independent of man's will, but on account of man's wills. Civilization has progressed by man's interference with material conditions.