Quotes about economy (1477 quotes) | Quotes of famous people

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José Baroja (1983) Chilean author and editor

Source: https://www.mundoclasico.com/articulo/45227/entrevista-intrapersonal-confrontada-omar-jerez-con-jose-baroja

“I think that you, american people, worry too much about the China economy, [...] Every time you start to worry about the China economy, China goes better.”

Jack Ma (1964) Chinese businessman

https://www.youtube.com/watch?v=ib8YG-WDZtM: 6 minutes 08 seconds into the video

People , Thinking , Time

“As I said last year, each country will pursue a path rooted in the culture of its own people. Yet experience shows us that history is on the side of liberty, that the strongest foundation for human progress lies in open economies, open societies, and open governments. To put it simply, democracy, more than any other form of government, delivers for our citizens.”

Barack Obama (1961) 44th President of the United States of America

"Remarks to the United Nations General Assembly in New York City," September 23, 2010. Online by Gerhard Peters and John T. Woolley, The American Presidency Project http://www.presidency.ucsb.edu/ws/index.php?pid=88483&st=&st1=
2010

People , Democracy , History , Country

“We have already mentioned what may, perhaps, appear paradoxical to some of our readers, — that the division of labour can be applied with equal success to mental as to mechanical operations, and that it ensures in both the same economy of time.”

Charles Babbage On the Economy of Machinery and Manufactures

Source: On the Economy of Machinery and Manufactures, 1832/1841, p. 191; Ch. 20. "On the division of mental labour"

Appearance , Time , Success

“The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies – not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.”

Ha-Joon Chang (1963) Economist

"The root of Europe's riots" http://www.guardian.co.uk/commentisfree/2012/sep/28/europe-riots-root-imf-austerity, The Guardian, 28 September 2012.

People , Democracy

“Ricardo's theory is absolutely right—within its narrow confines. His theory correctly says that, accepting their current levels of technology as given, it is better for countries to specialize in things that they are relatively better at. One cannot argue with that. His theory fails when a country wants to acquire more advanced technologies—that is, when it wants to develop its economy. It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries. Ricardo's theory is, thus seen, for those who accept the status quo but not for those who want to change it.”

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. 2: 'The double life of Daniel Defoe; How did the rich countries become rich?', The double life of the British economy, p. 47

Learning , Change , Chance , Time

“Almost all of today's rich countries used tariff protection and subsidies to develop their industries. Interestingly, Britain and the USA, the two countries that are supposed to have reached the summit of the world economy through their free-market, free-trade policy, are actually the ones that had most aggressively used protection and subsidies.”

Ha-Joon Chang (1963) Economist

"Kicking Away the Ladder" http://www.paecon.net/PAEReview/issue15/Chang15.htm, post-autistic economics review, issue no. 15, 1 September 2002, article 3

World , Country

“The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income.”

Ha-Joon Chang book 23 Things They Don't Tell You About Capitalism

Source: 23 Things They Don't Tell You About Capitalism

People , Way , Wealth

“Soviet rocket troops possess enough equipment to be able, if need be, to sweep any aggressor from the face of the earth at whatever point of the globe he may be and whatever military power, territory, or economy he may possess.”

Sergei Biriuzov (1904–1964) Soviet military commander

Quoted in "Military Procurement Authorization" - Page 347 - United States - 1963

“You will perceive that economy, scientifically speaking, is a very contracted science; it is in fact a sort of vague mathematics which calculates the causes and effects of man's industry, and shows how it may be best applied.”

William Stanley Jevons (1835–1882) English economist and logician

Letter to Henrietta Jevons (28 February 1858), published in Letters and Journal of W. Stanley Jevons (1886), edited by Harriet A. Jevons, his wife, p. 101.
Context: You will perceive that economy, scientifically speaking, is a very contracted science; it is in fact a sort of vague mathematics which calculates the causes and effects of man's industry, and shows how it may be best applied. There are a multitude of allied branches of knowledge connected with mans condition; the relation of these to political economy is analogous to the connexion of mechanics, astronomy, optics, sound, heat, and every other branch more or less of physical science, with pure mathematics.

Mathematics , Science

“This foundation of the class struggle, which Marx – and this is his immortal service – has given to the modern labor movement, is the main point of attack in the battle which the bourgeois political economy is waging with socialism.”

Wilhelm Liebknecht (1826–1900) German socialist politician

No Compromise – No Political Trading (1899)
Context: This foundation of the class struggle, which Marx – and this is his immortal service – has given to the modern labor movement, is the main point of attack in the battle which the bourgeois political economy is waging with socialism. The political economists deny the class struggle and would make of the labor movement only a part of the bourgeois party movements, and the Social Democracy only a division of the bourgeois democracy. The bourgeois political economy and politics direct all their exertions against the class character of the modern labor movement. If it were possible to create a breach in this bulwark, in this citadel of the Social Democracy, then the Social Democracy is conquered, and the proletariat thrown back under the dominion of capitalistic society. However small such a breach may be in the beginning, the enemy has the power to widen it and the certainty of final victory. And the enemy is most dangerous when he comes as a friend to the fortress, when he slinks in under the cover of friendship, and is recognized as a friend and comrade. The enemy who comes to us with open visor we face with a smile; to set our foot upon his neck is mere play for us. The stupidly brutal acts of violence of police politicians, the outrages of anti-socialist laws, the anti-revolution laws, penitentiary bills – these only arouse feelings of pitying contempt; the enemy, however, that reaches out the hand to us for a political alliance; and intrudes himself upon us as a friend and brother, – him and him alone have we to fear. Our fortress can withstand every assault – it can not be stormed nor taken from us by siege – it can only fall when we ourselves open the doors to the enemy and take him into our ranks as a fellow comrade. Growing out of the class struggle, our party rests upon the class struggle as a condition of its existence. Through and with that struggle the party is unconquerable; without it the party is lost, for it will have lost the source of its strength. Whoever fails to understand this or thinks that the class struggle is a dead issue, or that class antagonisms are gradually being effaced, stands upon the basis of bourgeois philosophy.

“The effort to develop the economy and improve the people’s standard of living can be successful only when it is backed by powerful military capabilities, nuclear forces. In the spirit with which we conquered outer space and with the mettle with which we succeeded in the nuclear test of a high level, we must push ahead simultaneously with the campaign to defend the country and the construction of an economic giant, and thus achieve the happiness of the people and the prosperity of the powerful Paektusan nation without fail.”

Kim Jong-un (1984) 3rd Supreme Leader of North Korea

Report to the March 2013 Plenary Meeting of the Central Committee of the Workers' Party of Korea, announcing the byungjin (dual advancement) policy line

Happiness , People , Effort , Success

“The world will not end. This is ridiculous. I think it's like 2000. It's a great trick to do business and earn lots of money because stupid people hoard things. This is a stimulator of the economy.”

Ronnie Radke (1983) American singer

In an interview with the magazine Alt Press http://www.fallinginreverse.com.br/2012/06/entrevista-com-ronnie-radke-na-alt-press.html

Money , People , Stupidity , World

“Teach your children to work, teach your daughters modesty, teach all the virtue of economy. And if not make them saints, at least make them Christians.”

António de Oliveira Salazar (1889–1970) Prime Minister of Portugal

Quoted in Salazar: biographical study - page 285; of Franco Nogueira - Published by Atlantis Publishing, 1977

Children , Daughters

“Corruption is an endemic evil -- a cultural problem, not only for Mexico but for [all] Latin America. Fighting it has to do with [improving] the environment for individual development. And this involves improving the economy, which we’re doing. And wherever there’s corruption, people have to denounce it so that there’s no impunity and we can penalize or sanction corrupt practices.”

Enrique Peña Nieto (1966) 57th President of Mexico

Foreign Affairs interview (January 2014)

People , Problem , Evil , Fight

“I've got the economy set up well for him. No facts, no consequences, they can just have a cartoon.”

Barack Obama (1961) 44th President of the United States of America

In response to Donald Trump's election victory https://www.nytimes.com/2018/05/30/us/politics/obama-reaction-trump-election-benjamin-rhodes.html. (November 2016)
2016

“In nature's economy the currency is not money, it is life.”

Vandana Shiva (1952) Indian philosopher

Source: Earth Democracy: Justice, Sustainability, and Peace

Life , Money , Nature

“In order better to grasp the thought of Malthus, let us translate it into philosophical propositions by stripping it of its rhetorical gloss: —
"'"Individual liberty, and property, which is its expression, are economical data; equality and solidarity are not."
"Under this system, each one by himself, each one for himself: labor, like all merchandise, is subject to fluctuation: hence the risks of the proletariat."
"Whoever has neither income nor wages has no right to demand anything of others: his misfortune falls on his own head; in the game of fortune, luck has been against him."
From the point of view of political economy these propositions are irrefutable; and Malthus, who has formulated them with such alarming exactness, is secure against all reproach. From the point of view of the conditions of social science, these same propositions are radically false, and even contradictory.”

Pierre Joseph Proudhon (1809–1865) French politician, mutualist philosopher, economist, and socialist

Source: The Philosophy of Misery (1846), Chapter I

Game , Science , Falseness

“The main sources of tension in today's world economy could be grouped under the following categories:
(i) the underdevelopment of a large part of world
(ii) competition between different economic systems
(iii) the passing of colonialism
(iv) economic instability, especially in primary markets, and
(v) national shortsightedness, especially in trade policy”

Jan Tinbergen (1903–1994) Dutch economist

Source: Shaping the world economy, 1962, p. 91

World , Parting

“We are far from understanding how to achieve adaptively efficient economies because allocative efficiency and adaptive efficiency may not always be consistent. Allocatively efficient rules would make today's firms and decisions secure - but frequently at the expense of the creative destruction process that Schumpeter had in mind.”

Douglass C. North (1920–2015) American Economist

Source: Institutions (1990), p. 81; Ch. 9 : Organizations, learning, and institutional change

Understanding , Decision

“The factors we have listed (innovation, economies of scale, education, capital accumulation, etc.) are not causes of growth; they are growth.”

Douglass C. North (1920–2015) American Economist

Source: The rise of the western world, 1973, p. 2

Education

“A final aspect of all open access orders is Schumpeter’s notion of creative destruction, one of the most powerful descriptions of a competitive, open access economy. When Schumpeter wrote Capitalism, Socialism, and Democracy in the early 1940s, the economic theory of perfect competition among atomistic firms (i. e., firms too small to have market power) had come under sustained attack as unrealistic. Large and powerful economic organizations dominated the new economy, and their behavior did not match the textbooks. Despite this dominance, the economy produced historically unprecedented, sustained economic development. Schumpeter asked, How could large businesses that were supposed to choke off competition and growth nonetheless generate such spectacular productivity increases in a world that seemed ever more competitive?”

Douglass C. North (1920–2015) American Economist

Source: Violence and Social Orders (2009), Ch. 4 : Open Access Orders

World , Behavior , Democracy , Business

“Schumpeter’s approach has an important implication for political behavior. If the constellation of economic interests regularly changes because of innovation and entry, politicians face a fundamentally different world than those in a natural state: open access orders cannot manipulate interests in the same way as natural states do. Too much behavior and formation of interests take place beyond the state’s control. Politicians in both natural states and open access orders want to create rents. Rent-creation at once rewards their supporters and binds their constituents to support them. Because, however, open access orders enable any citizen to form an organization for a wide variety of purposes, rents created by either the political process or economic innovation attract competitors in the form of new organizations. In Schumpeterian terms, political entrepreneurs put together new organizations to compete for the rents and, in so doing, reduce existing rents and struggle to create new ones. As a result, creative destruction reigns in open access politics just as it does in open access economies. Much of the creation of new interests is beyond the control of the state. The creation of new interests and the generation of new sources of rents occur continuously in open access orders.”

Douglass C. North (1920–2015) American Economist

Source: Violence and Social Orders (2009), Ch. 1 : The Conceptual Framework

World , Way , Behavior , Support

“We must say openly that the present economic system of the EU is a system of a suppressed market, a system of a permanently strengthening centrally controlled economy. Although history has more than clearly proven that this is a dead end, we find ourselves walking the same path once again. This results in a constant rise in both the extent of government masterminding and constraining of spontaneity of the market processes. In recent months, this trend has been further reinforced by incorrect interpretation of the causes of the present economic and financial crisis, as if it was caused by free market, while in reality it is just the contrary – caused by political manipulation of the market. It is again necessary to point out to the historical experience of our part of Europe and to the lessons we learned from it.”

Václav Klaus (1941) 2nd President of the Czech Republic

Speech in the European Parliament, on EU http://klaus.cz/klaus2/asp/clanek.asp?id=88EY96UW9zlp

History , Reality , Learning , Parting

“Just as the commandment “Thou shalt not kill” sets a clear limit in order to safeguard the value of human life, today we also have to say “thou shalt not” to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points? This is a case of exclusion. Can we continue to stand by when food is thrown away while people are starving? This is a case of inequality. Today everything comes under the laws of competition and the survival of the fittest, where the powerful feed upon the powerless. As a consequence, masses of people find themselves excluded and marginalized: without work, without possibilities, without any means of escape.”

Pope Francis (1936) 266th Pope of the Catholic Church

Section 53
2010s, 2013, Evangelii Gaudium · The Joy of the Gospel

Life , People , Law , Food

“While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation. Consequently, they reject the right of states, charged with vigilance for the common good, to exercise any form of control. A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules. Debt and the accumulation of interest also make it difficult for countries to realize the potential of their own economies and keep citizens from enjoying their real purchasing power. To all this we can add widespread corruption and self-serving tax evasion, which have taken on worldwide dimensions. The thirst for power and possessions knows no limits. In this system, which tends to devour everything which stands in the way of increased profits, whatever is fragile, like the environment, is defenseless before the interests of a deified market, which become the only rule.”

Pope Francis (1936) 266th Pope of the Catholic Church

Section 56
2010s, 2013, Evangelii Gaudium · The Joy of the Gospel

Happiness , Law , Way , Exercises

“Although no conclusive proof exists that GM cereals may be harmful to human beings, and in some regions their use has brought about economic growth which has helped to resolve problems, there remain a number of significant difficulties which should not be underestimated. In many places, following the introduction of these crops, productive land is concentrated in the hands of a few owners due to “the progressive disappearance of small producers, who, as a consequence of the loss of the exploited lands, are obliged to withdraw from direct production”. The most vulnerable of these become temporary labourers, and many rural workers end up moving to poverty-stricken urban areas. The expansion of these crops has the effect of destroying the complex network of ecosystems, diminishing the diversity of production and affecting regional economies, now and in the future. In various countries, we see an expansion of oligopolies for the production of cereals and other products needed for their cultivation. This dependency would be aggravated were the production of infertile seeds to be considered; the effect would be to force farmers to purchase them from larger producers.”

Pope Francis (1936) 266th Pope of the Catholic Church

§ 134
2010s, 2015, Laudato si' : Care for Our Common Home

Problem , Loss , Future , Help

“Keynes did not challenge the efficacy of price adjustment mechanisms in clearing particular markets in the Marshallian partial equilibrium theory on which he had been reared. He did challenge the mindless application of those mechanisms to economy-wide markets. Founding what came to be known as macroeconomics, he was modeling a whole economy as a closed system. He knew he could not use the Marshallian assumption that the clearing of one market could be safely described on the assumption that the rest of the economy was unaffected.”

James Tobin (1918–2002) American economist

"Price Flexibility and Output Stability: An Old Keynesian View" (1993)

“The important Keynesian insight is that a high propensity to save will not generate high national saving unless it goes into investment, into accumulation of real capital. The "paradox of thrift" makes this point in an extreme way. In certain circumstances, when there is no demand for investment around, the economy can be no better off, or even worse off, if a thrifty public cuts consumption.”

James Tobin (1918–2002) American economist

"Reflections on Japanese Political Economy" (1999)

Way

“A long decade ago economic growth was the reigning fashion of political economy. It was simultaneously the hottest subject of economic theory and research, a slogan eagerly claimed by politicians of all stripes, and a serious objective of the policies of governments. The climate of opinion has changed dramatically. Disillusioned critics indict both economic science and economic policy for blind obeisance to aggregate material "progress," and for neglect of its costly side effects. Growth, it is charged, distorts national priorities, worsens the distribution of income, and irreparably damages the environment. Paul Erlich speaks for a multitude when he says, "We must acquire a life style which has as its goal maximum freedom and happiness for the individual, not a maximum Gross National Product."”

James Tobin (1918–2002) American economist

Nordhaus, William D., and James Tobin. " Is growth obsolete? http://www.nber.org/chapters/c7620.pdf." Economic Research: Retrospect and Prospect Vol 5: Economic Growth. Nber, 1972. 1-80.
1970s and later

Life , Happiness , Fashion , Freedom

“With the publication of J. M. Keynes’s General Theory in 1936 and the mathematical formalizations of his theory by J. R. Hicks (1937) and others, the language of macro-economic theory became systems of simultaneous equations. These are general equilibrium systems of interdependence in the sense that the relationships describe an entire national economy, not just a particular industry or sector. The systems are usually not completely closed; they depend on exogenous parameters including instruments controlled by policy-makers. Seeking definite relationships of economic outcomes to policies and other exogenous variables, qualitative and quantitative, these models sacrifice detail and generality, limiting the number of variables and equations by aggregations over agents, commodities, assets, and time.”

James Tobin (1918–2002) American economist

Source: "Money and Finance in the Macro-Economic Process" (1982), p. 12

Mathematics , Sense , Time , Dependency

“The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.”

James Tobin (1918–2002) American economist

"James Tobin - Biographical" (1981)
Context: For me, growing up in the 1930s, the two motivations powerfully reinforced each other. The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters. The crisis triggered a fertile period of scientific ferment and revolution in economic theory.

Failure

“The Declaration of Independence was formed by the representatives of American liberty from thirteen States of the confederacy; twelve of which were slaveholding communities. We need not discuss the way or the reason of their becoming slaveholding communities. It is sufficient for our purpose that all of them greatly deplored the evil and that they placed a provision in the Constitution which they supposed would gradually remove the disease by cutting off its source. This was the abolition of the slave trade. So general was conviction, the public determination, to abolish the African slave trade, that the provision which I have referred to as being placed in the Constitution, declared that it should not be abolished prior to the year 1808. A constitutional provision was necessary to prevent the people, through Congress, from putting a stop to the traffic immediately at the close of the war. Now, if slavery had been a good thing, would the Fathers of the Republic have taken a step calculated to diminish its beneficent influences among themselves, and snatch the boon wholly from their posterity? These communities, by their representatives in old Independence Hall, said to the whole world of men: "We hold these truths to be self evident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty and the pursuit of happiness." This was their majestic interpretation of the economy of the Universe. This was their lofty, and wise, and noble understanding of the justice of the Creator to His creatures… Yes, gentlemen, to all His creatures, to the whole great family of man. In their enlightened belief, nothing stamped with the Divine image and likeness was sent into the world to be trodden on, and degraded, and imbruted by its fellows. They grasped not only the whole race of man then living, but they reached forward and seized upon the farthest posterity. They erected a beacon to guide their children and their children's children, and the countless myriads who should inhabit the earth in other ages. Wise statesmen as they were, they knew the tendency of prosperity to breed tyrants, and so they established these great self-evident truths, that when in the distant future some man, some faction, some interest, should set up the doctrine that none but rich men, or none but white men, were entitled to life, liberty and the pursuit of happiness, their posterity might look up again to the Declaration of Independence and take courage to renew the battle which their fathers began, so that truth, and justice, and mercy, and all the humane and Christian virtues might not be extinguished from the land; so that no man would hereafter dare to limit and circumscribe the great principles on which the temple of liberty was being built…”

Abraham Lincoln (1809–1865) 16th President of the United States

1850s, Speech at Lewistown, Illinois (1858)

Life , Men , War , Happiness

“Political Economy regards the proletarian … like a horse, he must receive enough to enable him to work. It does not consider him, during the time when he is not working, as a human being. It leaves this to criminal law, doctors, religion, statistical tables, politics, and the beadle. … (1) What is the meaning, in the development of mankind, of this reduction of the greater part of mankind to abstract labor? (2) What mistakes are made by the piecemeal reformers, who either want to raise wages and thereby improve the situation of the working class, or — like Proudhon — see equality of wages as the goal of social revolution?.”

Karl Marx book Economic and Philosophic Manuscripts of 1844

Source: First Manuscript – Wages of Labour, p. 6.
Source: Economic and Philosophic Manuscripts of 1844

Religion , Law , Time , Horse

“Classical political economy nearly touches the true relation of things, without, however, consciously formulating it. This it cannot so long as it sticks in its bourgeois skin.”

Karl Marx book Das Kapital

Vol. I, Ch. 19, pg. 594.
Das Kapital (Buch I) (1867)

“The entire revolutionary movement necessarily finds both its empirical and its theoretical basis in the movement of private property – more precisely, in that of the economy. This material, immediately perceptible private property is the material perceptible expression of estranged human life. Its movement – production and consumption – is the perceptible revelation of the movement of all production until now, i. e., the realisation or the reality of man. Religion, family, state, law, morality, science, art, etc., are only particular modes of production, and fall under its general law. The positive transcendence of private property as the appropriation of human life, is therefore the positive transcendence of all estrangement – that is to say, the return of man from religion, family, state, etc., to his human, i. e., social, existence. Religious estrangement as such occurs only in the realm of consciousness, of man’s inner life, but economic estrangement is that of real life; its transcendence therefore embraces both aspects. It is evident that the initial stage of the movement amongst the various peoples depends on whether the true recognised life of the people manifests itself more in consciousness or in the external world – is more ideal or real. Communism begins where atheism begins (Owen), but atheism is at the outset still far from being communism; indeed it is still for the most part an abstraction. The philanthropy of atheism is therefore at first only philosophical, abstract philanthropy, and that of communism is at once real and directly bent on action.”

Karl Marx book Economic and Philosophic Manuscripts of 1844

Private Property and Communism
Paris Manuscripts (1844)

Life , People , World , Family

“Political Economy regards the proletarian … like a horse, he must receive enough to enable him to work. It does not consider him, during the time when he is not working, as a human being.”

Karl Marx book Economic and Philosophic Manuscripts of 1844

First Manuscript – Wages of Labour, p. 6.
Paris Manuscripts (1844)
Context: Political Economy regards the proletarian … like a horse, he must receive enough to enable him to work. It does not consider him, during the time when he is not working, as a human being. It leaves this to criminal law, doctors, religion, statistical tables, politics, and the beadle. … (1) What is the meaning, in the development of mankind, of this reduction of the greater part of mankind to abstract labor? (2) What mistakes are made by the piecemeal reformers, who either want to raise wages and thereby improve the situation of the working class, or — like Proudhon — see equality of wages as the goal of social revolution?.

Time , Horse

“Soviet Russia has been behaving internationally very much as a satisfied Power, avoiding all trouble, and trying to keep peace at all costs. This is the opposite of a revolutionary policy which would aim at fomenting revolution in other countries. It is a national policy of building up socialism in a single country and avoiding all complications outside. Necessarily, this results in compromises with imperialist and capitalist Powers. But the essential socialist basis of Soviet economy continues, and the success of this is itself the most powerful argument in favour of socialism.”

Jawaharlal Nehru book Glimpses of World History

Glimpses of World History (1949)

Peace , Success , Country

“The economic history of the last half century offers two cases of serious international depressions in countries with an essential orientation towards a market economy: In the first half of the 1930ies and in the middle of the 1970ies. With some simplification one can say that in the former case recovery started after a few years without the aid of much conscious expansionist policy.”

Bertil Ohlin (1899–1979) Swedish economist and politician

Ohlin, Bertil. " 1933 and 1977: Some Expansion Policy Problems in Cases of Unbalanced Domestic and International Economic Relations http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1977/ohlin-lecture.pdf." Nobel Memorial Lecture, December 8, 1977; Published in: The Scandinavian Journal of Economics (1978): 360-374.
1970s

History , Country

“Tonight, we gather to affirm the greatness of our nation—not because of the height of our skyscrapers, or the power of our military, or the size of our economy. Our pride is based on a very simple premise, summed up in a declaration made over two hundred years ago: "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain inalienable rights, that among these are life, liberty and the pursuit of happiness."”

Barack Obama (1961) 44th President of the United States of America

That is the true genius of America—a faith in simple dreams, an insistence on small miracles.
2004, Democratic National Convention speech (July 2004)

Life , Men , Happiness , Truth

“These citizens remind us why civil society is so essential. When people are free to speak their minds and hold their leaders accountable, governments are more responsive and more effective. When entrepreneurs are free to create and develop new ideas, then economies are more innovative, and attract more trade and investment, and ultimately become more prosperous. When communities, including minorities, are free to live and pray and love as they choose; when nations uphold the rights of all their people -— including, perhaps especially, women and girls -— then those countries are more likely to thrive. If you want strong, successful countries, you need strong, vibrant civil societies. When citizens are free to organize and work together across borders to make our communities healthier, our environment cleaner, and our world safer, that's when real change comes.”

Barack Obama (1961) 44th President of the United States of America

2014, Remarks at Clinton Global Initiative (September 2014)

Love , Women , People , World

“Investing in people is the single most important thing in the knowledge economy. Traditionally, wealth was defined by land and natural resources. Today the most important resources is between our ears.”

Barack Obama (1961) 44th President of the United States of America

2014, Young Southeast Asian Leaders Initiative Town Hall (April 2014)

People , Nature , Knowledge , Wealth

“We know that our economies attract more trade and investment when citizens are free to start a new business without paying a bribe. We know that our societies are more likely to succeed when all our people -- regardless of color, or class, or creed, or sexual orientation, or gender -- are free to live and pray and love as they choose. […] And, increasingly, civil society is a source of ideas -- about everything from promoting transparency and free expression, to reversing inequality and rescuing our environment.”

Barack Obama (1961) 44th President of the United States of America

2015, Remarks at Panama Civil Society Forum (April 2015)

Love , People , Color , Idea

“In countries held together by borders drawn by colonial powers, with ethnic enclaves and tribal divisions, politics and elections can sometimes appear to be a zero-sum game. And so, given the difficulty in forging true democracy in the face of these pressures, it’s no surprise that some argue the future favors the strongman, a top-down model, rather than strong, democratic institutions. […] I believe the road of true democracy remains the better path. I believe that in the 21st century, economies can only grow to a certain point until they need to open up -- because entrepreneurs need to access information in order to invent; young people need a global education in order to thrive; independent media needs to check the abuses of power. Without this evolution, ultimately expectations of people will not be met; suppression and stagnation will set in. And history shows that strongmen are then left with two paths -- permanent crackdown, which sparks strife at home, or scapegoating enemies abroad, which can lead to war.”

Barack Obama (1961) 44th President of the United States of America

2016, United Nations Address (September 2016)

War , People , Education , Democracy

“But what you’ve also seen is a trend in the United States but also around the world in which even when the economy grows, it tends to benefit a lot of people at the very top, but the vast majority of people, they don't benefit as much. And you're starting to see bigger and bigger gaps in inequality and in wealth and in opportunity. And that's true not just in the United States, it's true in Europe; it's long been true in parts of Asia; it's been true in Latin America. And I believe that economies work best when growth and development is broad-based, when it's shared -- when ordinary people, if they work hard and they take responsibility, they can succeed. Not everybody is going to be rich, but everybody should be able to live a good life. Not everybody is going to be a billionaire, but everybody should be able to have a nice home and educate their children and feel some sense of security.”

Barack Obama (1961) 44th President of the United States of America

2014, Young Southeast Asian Leaders Initiative Town Hall (April 2014)

Life , Children , People , World

“For all of our differences, the Cuban and American people share common values in their own lives. A sense of patriotism and a sense of pride -- a lot of pride. A profound love of family. A passion for our children, a commitment to their education. And that's why I believe our grandchildren will look back on this period of isolation as an aberration, as just one chapter in a longer story of family and of friendship. But we cannot, and should not, ignore the very real differences that we have -- about how we organize our governments, our economies, and our societies. Cuba has a one-party system; the United States is a multi-party democracy. Cuba has a socialist economic model; the United States is an open market. Cuba has emphasized the role and rights of the state; the United States is founded upon the rights of the individual.”

Barack Obama (1961) 44th President of the United States of America

2016, Remarks to the People of Cuba (March 2016)

Love , Friendship , Children , People

“If we keep talking about the economy, we're going to lose.”

Barack Obama (1961) 44th President of the United States of America

Misattributed by Mitt Romney " Believe in America http://www.youtube.com/watch?v=H3a7FC0Jkv8" campaign ad ()
Senator Barack Obama quoted those words in a New Hampshire campaign speech on , saying "Senator McCain's campaign actually said, and I quote, <span style="color:gray">'If we keep talking about the economy, we're going to lose.'</span>"
[2011-11-22, Mitt Romney ad charges Obama said, 'If we keep talking about the economy, we’re going to lose', Politifact, http://www.politifact.com/truth-o-meter/statements/2011/nov/22/mitt-romney/mitt-romney-says-obama-said-if-we-keep-talking-abo/, 2012-10-08]
Misattributed

“But my understanding is there are many villages you go to where there’s really no schools, as a practical matter, and many of the schools still teach just how to memorize certain things rather than how to think critically about problems. And every country at this point, if it wants to succeed, needs to put in place free, compulsory education for its young people -- because they just can’t succeed unless they have some basic skills. They have to be able to read. They have to be able to do mathematics. They have to have some familiarity with computers. They have to be able to understand basic principles of science. If you don’t have those basic tools, then it’s very hard to find a decent job in today’s economy.”

Barack Obama (1961) 44th President of the United States of America

2014, Young Southeast Asian Leaders Initiative Town Hall Speech (November 2014)

People , Education , School , Mathematics

“And every business can take action. All the business leaders who are here and our global economy companies have a responsibility to make sure that their supply chains, stretching into the far corners of the globe, are free of forced labor. […] Every faith community can take action as well, by educating their congregations, by joining in coalitions that are bound by a love of God and a concern for the oppressed. And like that Good Samaritan on the road to Jericho, we can’t just pass by, indifferent. We’ve got to be moved by compassion. We’ve got to bind up the wounds. Let’s come together around a simple truth -- that we are our brother’s keepers and we are our sister’s keepers. And finally, every citizen can take action: by learning more; by going to the website that we helped create -- SlaveryFootprint. org; by speaking up and insisting that the clothes we wear, the food we eat, the products we buy are made free of forced labor; by standing up against the degradation and abuse of women.”

Barack Obama (1961) 44th President of the United States of America

2012, Remarks at Clinton Global Initiative (September 2012)

Love , Women , God , Truth

“Now, what I do reject is when folks just sit on the sidelines and they're rooting for failure — whether it's on health care or energy or the economy — or the Olympics. [.. ] What I reject is when scoring political points is so important that you'd rather see failure. What I reject is when some folks want to go to the policies that helped get us into this mess in the first place — as if we don't remember. [.. ] We don't mind cleaning up the mess that was left for us. We're busy, we got our mops, we're, you know, mopping the floor here. But I don't want the folks who made the mess to just sit there and say, you're not mopping fast enough. I don't — I don't want them saying, you're not holding the mop the right way, or, that's a socialist mop. I want them to grab a mop. Grab a mop. Grab a mop — or a broom or something. Make yourself useful.”

Barack Obama (1961) 44th President of the United States of America

Remarks at Chris Dodd fundraiser in Stamford, CT. http://online.wsj.com/article/SB10001424052748704224004574489530713762884.html
2009

Health , Way , Failure , Business

“My administration has a job to do as well. That job is to get this economy back on its feet. That's my job, and it's a job I gladly accept. I love these folks who helped get us in this mess and then suddenly say, "Well this is Obama's economy." That's fine. GIVE IT TO ME. My job is to solve problems, not to stand on the sidelines and carp and gripe. So, I welcome the job. I want the responsibility.”

Barack Obama (1961) 44th President of the United States of America

President Obama, July 14, 2009 http://www.youtube.com/watch?feature=player_embedded&v=CQBSTomBWls
2009

Love , Problem , Help

“When politicians insult Muslims, when a mosque is vandalized, or a kid bullied, that doesn’t make us safer. That’s not telling it like it is. It’s just wrong. It diminishes us in the eyes of the world. It makes it harder to achieve our goals. And it betrays who we are as a country… What I’m asking for is hard. It’s easier to be cynical; to accept that change isn’t possible, and politics is hopeless, and to believe that our voices and actions don’t matter. But if we give up now, then we forsake a better future. Those with money and power will gain greater control over the decisions that could send a young soldier to war, or allow another economic disaster, or roll back the equal rights and voting rights that generations of Americans have fought, even died, to secure. As frustration grows, there will be voices urging us to fall back into tribes, to scapegoat fellow citizens who don’t look like us, or pray like us, or vote like we do, or share the same background. We can’t afford to go down that path. It won’t deliver the economy we want, or the security we want, but most of all, it contradicts everything that makes us the envy of the world.”

Barack Obama (1961) 44th President of the United States of America

2016, State of the Union address (January 2016)

Money , War , World , Decision

“So we pulled up to this diner, where people told us that we could get some good pie. And I like pie. Do you like pie too? So, we go in there, and we say, "Oh, what kind of pie you got?' And they didn't have sweet potato pie, they didn't have pumpkin pie. They had some cream pies mostly, which is OK with me. So, I got some coconut cream pie. And Governor Strickland, he got lemon meringue pie.
So while we're waiting for our pie, the staff come and they want to take a picture with me because they say, you know, the owner of this dinner is a staunch die-hard Republican, so we want to kind of tease him a little bit by getting this picture with you. So we're taking this picture and suddenly the owner comes out with the pie. And he looks at me and I say, "Sir, I understand that you are a die-hard Republican." He says, "That's right." I said, "How's business?" He said, "Not so good." He said, "My customer, they can't afford to eat out anymore." I said, "Who's been in charge of the economy for the last eight years?" He said, "Republicans." I said, "You know, if you kept on hitting your head against a wall over and over again and it started to hurt, at some point would you stop hitting your head against the wall?"”

Barack Obama (1961) 44th President of the United States of America

He said, "You've got a point."
At a rally in Londonberry, New Hampshire (16 October 2008) http://transcripts.cnn.com/TRANSCRIPTS/0810/16/cnr.04.html
2008

People , Understanding , Business , Waiting

“My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody … I think when you spread the wealth around, it's good for everybody.”

Barack Obama (1961) 44th President of the United States of America

Comments at an Ohio campaign stop (13 October 2008) http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/comments/
2008

Thinking , Wealth

“I know these are difficult times. I know folks are worried. But I also know that now is not the time for fear or panic. Now is the time for resolve and steady leadership. Because I know we can steer ourselves out of this crisis. This is a nation that has faced down war and depression; great challenges and great threats. We have seen always that mountaintop from the deepest valley. We have always risen to the moment when the moment was hard – and we can do it again. We can restore confidence in our economy and renew that fundamental belief – that here in America, our destiny is not written for us, but by us.”

Barack Obama (1961) 44th President of the United States of America

OBAMA: ‘Our Destiny Is Not Written For Us, But By Us’, STARS AND STRIPES: Rally For Change, Progress Plaza, Philadelphia, 8 AM, (10 October 2008) http://www.phawker.com/2008/10/11/obama-our-destiny-is-not-written-for-us-but-by-us/
2008

War , Fear , Confidence , Time

“How does America find its way in this new, global economy? What will our place in history be? Like so much of the American story, once again, we face a choice. Once again, there are those who believe that there isn’t much we can do about this as a nation. That the best idea is to give everyone one big refund on their government—divvy it up by individual portions, in the form of tax breaks, hand it out, and encourage everyone to use their share to go buy their own health care, their own retirement plan, their own child care, their own education, and so on. In Washington, they call this the Ownership Society. But in our past there has been another term for it—Social Darwinism—every man or woman for him or herself. It’s a tempting idea, because it doesn’t require much thought or ingenuity. It allows us to say that those whose health care or tuition may rise faster than they can afford—tough luck. It allows us to say to the Maytag workers who have lost their job—life isn’t fair. It let’s us say to the child who was born into poverty—pull yourself up by your bootstraps. And it is especially tempting because each of us believes we will always be the winner in life’s lottery, that we’re the one who will be the next Donald Trump, or at least we won’t be the chump who Donald Trump says: “You’re fired!” But there is a problem. It won’t work. It ignores our history. It ignores the fact that it’s been government research and investment that made the railways possible and the internet possible. It’s been the creation of a massive middle class, through decent wages and benefits and public schools that allowed us all to prosper. Our economic dependence depended on individual initiative. It depended on a belief in the free market; but it has also depended on our sense of mutual regard for each other, the idea that everybody has a stake in the country, that we’re all in it together and everybody’s got a shot at opportunity. That’s what’s produced our unrivaled political stability.”

Barack Obama (1961) 44th President of the United States of America

Knox College Commencement Address (4 June 2005)
2005

Life , Health , Education , School

“In many ways, fear is the force that stands between human beings and their dreams. Fear of conflict and the weapons of war. Fear of a future that is different from the past. Fear of changes that are reordering our societies and economy. Fear of people who look different, or come from a different place, or worship in a different way. In some of her darkest moments, when Aung San Suu Kyi was imprisoned, she wrote an essay about freedom from fear. She said fear of losing corrupts those who wield it -- “Fear of losing power corrupts those who wield it, and fear of the scourge of power corrupts those who are subject to it.” That's the fear that you can leave behind. We see that chance in leaders who are beginning to understand that power comes from appealing to people’s hopes, not people's fears.”

Barack Obama (1961) 44th President of the United States of America

2012, Yangon University Speech (November 2012)

War , People , Fear , Dreams

“What deters people from investing in most countries is conflict, corruption, and a lack of skills or infrastructure. And those countries that are able to address those problems have rule of law and eliminate corruption. Make sure that you are investing in the education of your people and it’s a continuous education; it doesn’t just stop at the lower grades, but you give people constant opportunities to upgrade their skills. You have a decent infrastructure -- you’re going to be able to succeed. That’s the recipe, the formula for a 21st-century economy.”

Barack Obama (1961) 44th President of the United States of America

2015, Town Hall meeting with Young Leaders of the Americas (April 2015)

People , Education , Law , Problem

“And let us remember that in a global economy, a country’s greatest resource is its people. So by investing in you, this nation can open the door for far more prosperity -- because unlocking a nation’s potential depends on empowering all its people, especially its young people.”

Barack Obama (1961) 44th President of the United States of America

2012, Yangon University Speech (November 2012)

People , Dependency , Country

“You have demonstrated that when young people have the tools to succeed -- good schools, education in math and science, an economy that nurtures creativity and entrepreneurship -- then societies will flourish. […] Where women are full participants in a country’s politics or economy, societies are more likely to succeed. […] If young people live in places where the only option is between the dictates of a state, or the lure of an extremist underground, then no counterterrorism strategy can succeed. But where a genuine civil society is allowed to flourish -- where people can express their views, and organize peacefully for a better life -- then you dramatically expand the alternatives to terror.”

Barack Obama (1961) 44th President of the United States of America

2014, Address to the United Nations (September 2014)

Life , Women , People , Education

“Listen, it is absolutely clear the economy is not doing fine. That's the reason I had a press conference. That's why I spent yesterday, the day before yesterday, this past week, this past month, and this past year talking about how we can make the economy stronger. The economy is not doing fine.”

Barack Obama (1961) 44th President of the United States of America

press conference http://www.whitehouse.gov/the-press-office/2012/06/08/remarks-president-obama-and-president-aquino-philippines-after-bilateral welcoming President Aquino of the Philippines, , quoted in [2012-06-10, Obama's private sector remarks critiqued, defended on Sunday shows, Morgan, Little, Los Angeles Times, http://articles.latimes.com/2012/jun/10/news/la-pn-obamas-private-sector-remarks-critiqued-defended-on-sunday-shows-20120610, 2012-06-29]
posed question: "Mr. President, Mitt Romney says you're out of touch for saying the private sector is doing fine. What's your response?"
2012

Past

“Yes, we believe in democracy -- with elections that are free and fair; and independent judiciaries and opposition parties; civil society and uncensored information so that individuals can make their own choices. Yes, we believe in open economies based on free markets and innovation, and individual initiative and entrepreneurship, and trade and investment that creates a broader prosperity. And, yes, we believe in human dignity -- that every person is created equal, no matter who you are, or what you look like, or who you love, or where you come from. That is what we believe. That’s what makes us strong. And our enduring strength is also reflected in our respect for an international system that protects the rights of both nations and people -- a United Nations and a Universal Declaration of Human Rights; international law and the means to enforce those laws. But we also know that those rules are not self-executing; they depend on people and nations of goodwill continually affirming them.”

Barack Obama (1961) 44th President of the United States of America

2014, Address to European Youth (March 2014)

Love , People , Law , Democracy

“It is not unique to Africa -- corruption exists all over the world, including in the United States. But here in Africa, corruption drains billions of dollars from economies that can't afford to lose billions of dollars -- that's money that could be used to create jobs and build hospitals and schools. And when someone has to pay a bribe just to start a business or go to school, or get an official to do the job they’re supposed to be doing anyway -- that’s not “the African way.””

Barack Obama (1961) 44th President of the United States of America

It undermines the dignity of the people you represent.
2015, Remarks to the People of Africa (July 2015)

Money , People , World , School

“For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act — not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. And all this we will do.”

Barack Obama (1961) 44th President of the United States of America

2009, First Inaugural Address (January 2009)

Health , Age , School , Cars

“And so you have to be practical in asking yourself how can you achieve the goals of equality and inclusion, but also recognize that the market system produces a lot of wealth and goods and services. And it also gives individuals freedom because they have initiative. And so you don't have to be rigid in saying it’s either this or that, you can say -- depending on the problem you're trying to solve, depending on the social issues that you're trying to address what works. And I think that what you’ll find is that the most successful societies, the most successful economies are ones that are rooted in a market-based system, but also recognize that a market does not work by itself. It has to have a social and moral and ethical and community basis, and there has to be inclusion. Otherwise it’s not stable. And it’s up to you -- whether you're in business or in academia or the nonprofit sector, whatever you're doing -- to create new forms that are adapted to the new conditions that we live in today.”

Barack Obama (1961) 44th President of the United States of America

2016, Young Leaders of the Americas Initiative Town Hall (March 2016)

Communication , Business , Problem , Thinking

“I'll cut out government spending that's not working, that we can't afford, but I'm also going to ask anybody making over $250,000 a year to go back to the tax rates they were paying under Bill Clinton, back when our economy created 23 million new jobs, the biggest budget surplus in history and everybody did well. Just like we've tried their plan, we tried our plan — and it worked. That's the difference. That's the choice in this election. That's why I'm running for a second term.”

Barack Obama (1961) 44th President of the United States of America

Campaign speech http://www.whitehouse.gov/the-press-office/2012/07/24/remarks-president-campaign-event, Oakland, California, , quoted in
Partially quoted as "We tried our plan and it worked. That's the difference. That's the choice in this election. That's why I'm running for a second term." in Mitt Romney " It Worked http://www.youtube.com/watch?v=x0etEmiCL8M" campaign ad ()
2012

History

“We believe that societies and economies only advance as far as individuals are free to carry them forward. And just as freedom cannot exist when people are imprisoned for their political views, true opportunity cannot exist when people are imprisoned by sickness, or hunger, or darkness.”

Barack Obama (1961) 44th President of the United States of America

2013, Cape Town University Address (June 2013)

Hunger , People , Freedom

“Middle-class economics works. Expanding opportunity works. And these policies will continue to work as long as politics don’t get in the way. We can’t slow down businesses or put our economy at risk with government shutdowns or fiscal showdowns. We can’t put the security of families at risk by taking away their health insurance, or unraveling the new rules on Wall Street, or refighting past battles on immigration when we’ve got to fix a broken system.”

Barack Obama (1961) 44th President of the United States of America

2015, State of the Union Address (January 2015)

Health , Family , Way , Business

“Ashley finishes her story and then goes around the room and asks everyone else why they're supporting the campaign. They all have different stories and reasons. Many bring up a specific issue. And finally they come to this elderly black man who's been sitting there quietly the entire time. And Ashley asks him why he's there. And he does not bring up a specific issue. He does not say health care or the economy. He does not say education or the war. He does not say that he was there because of Barack Obama. He simply says to everyone in the room, "I am here because of Ashley."
"I'm here because of Ashley." By itself, that single moment of recognition between that young white girl and that old black man is not enough. It is not enough to give health care to the sick, or jobs to the jobless, or education to our children.
But it is where we start. It is where our union grows stronger. And as so many generations have come to realize over the course of the two-hundred and twenty one years since a band of patriots signed that document in Philadelphia, that is where the perfection begins.”

Barack Obama (1961) 44th President of the United States of America

2008, A More Perfect Union (March 2008)

War , Children , Health , Education

“Treating women as second-class citizens is a bad tradition. It holds you back. There’s no excuse for sexual assault or domestic violence. There’s no reason that young girls should suffer genital mutilation. There’s no place in civilized society for the early or forced marriage of children. These traditions may date back centuries; they have no place in the 21st century. These are issues of right and wrong -- in any culture. But they’re also issues of success and failure. Any nation that fails to educate its girls or employ its women and allowing them to maximize their potential is doomed to fall behind in a global economy.”

Barack Obama (1961) 44th President of the United States of America

2015, Remarks to the Kenyan People (July 2015)

Women , Marriage , Children , Education

“It is absolutely critical that we understand this is not just a challenge, it's an opportunity, because if we create a new energy economy, we can create five million new jobs, easily, here in the United States.
It can be an engine that drives us into the future the same way the computer was the engine for economic growth over the last couple of decades.
And we can do it, but we're going to have to make an investment. The same way the computer was originally invented by a bunch of government scientists who were trying to figure out, for defense purposes, how to communicate, we've got to understand that this is a national security issue, as well.
And that's why we've got to make some investments and I've called for investments in solar, wind, geothermal.”

Barack Obama (1961) 44th President of the United States of America

Comments on energy and environmental policies, in the Second Presidential Debate (7 October 2008) http://www.cnn.com/2008/POLITICS/10/07/presidential.debate.transcript
2008

Way , Communication , Understanding , Future

“When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.”

Barack Obama (1961) 44th President of the United States of America

2013, Remarks on Economic Mobility (December 2013)
Context: So let me repeat: The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. For one thing, these trends are bad for our economy. One study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. And that makes sense. When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.

Family , Business , Wealth

“Our history and the facts show that immigrants are a net plus for our economy and our society.”

Barack Obama (1961) 44th President of the United States of America

2014, Address to the Nation on Immigration (November 2014)
Context: I understand the disagreements held by many of you at home. Millions of us, myself included, go back generations in this country, with ancestors who put in the painstaking work to become citizens. So we don’t like the notion that anyone might get a free pass to American citizenship. I know some worry immigration will change the very fabric of who we are, or take our jobs, or stick it to middle-class families at a time when they already feel like they’ve gotten the raw deal for over a decade. I hear these concerns. But that’s not what these steps would do. Our history and the facts show that immigrants are a net plus for our economy and our society. And I believe it’s important that all of us have this debate without impugning each other’s character.

History

“It’s very hard to prosper in this modern economy if you haven’t fully unleashed the potential of your people. And”

Barack Obama (1961) 44th President of the United States of America

Remarks by President Obama After Meeting with Vietnamese Civil Society Leaders at JW Marriott Hotel Hanoi in Hanoi, Vietnam (May 24, 2016) https://www.whitehouse.gov/the-press-office/2016/05/24/remarks-president-obama-after-meeting-vietnamese-civil-society-leaders
2016
Context: It’s very hard to prosper in this modern economy if you haven’t fully unleashed the potential of your people. And your people’s potential, in part, derives from their ability to express themselves and express new ideas, to try to right wrongs that are taking place in the society.

People

“Fascism was really the basis for the New Deal. It was Mussolini's success in Italy, with his government-directed economy, that led the early New Dealers to say "But Mussolini keeps the trains running on time."”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Time (17 May 1976); Reagan adviser Jude Wanniski has indicated http://www.polyconomics.com/searchbase/10-05-99.html that, in 1933, New Dealers as well as much of the world admired Mussolini’s success in avoiding the Great Depression
1970s

Time , Success , Training

“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Remarks to the White House Conference on Small Business http://www.reagan.utexas.edu/archives/speeches/1986/081586e.htm (15 August 1986)
1980s, Second term of office (1985–1989)

“During my youth I rather leaned toward the prognosis that the Jews of different countries would be assimilated and that the Jewish question would thus disappear, as it were, automatically. The historical development of the last quarter of a century has not confirmed this view. Decaying capitalism has everywhere swung over to an intensified nationalism, one aspect of which is anti-Semitism. The Jewish question has loomed largest in the most highly developed capitalist country of Europe, Germany. […]
The Jews of different countries have created their press and developed the Yiddish language as an instrument adapted to modern culture. One must therefore reckon with the fact that the Jewish nation will maintain itself for an entire epoch to come. […]
We must bear in mind that the Jewish people will exist a long time. The nation cannot normally exist without common territory. Zionism springs from this very idea. But the facts of every passing day demonstrate to us that Zionism is incapable of resolving the Jewish question. The conflict between the Jews and Arabs in Palestine acquires a more and more tragic and more and more menacing character. I do not at all believe that the Jewish question can be resolved within the framework of rotting capitalism and under the control of British imperialism. […]
Socialism will open the possibility of great migrations on the basis of the most developed technique and culture. It goes without saying that what is here involved is not compulsory displacements, that is, the creation of new ghettos for certain nationalities, but displacements freely consented to, or rather demanded, by certain nationalities or parts of nationalities. The dispersed Jews who would want to be reassembled in the same community will find a sufficiently extensive and rich spot under the sun. The same possibility will be opened for the Arabs, as for all other scattered nations. National topography will become a part of the planned economy. This is the great historic perspective as I see it. To work for international Socialism means to work also for the solution of the Jewish question.”

Leon Trotsky (1879–1940) Marxist revolutionary from Russia

Excerpts of Trotsky’s interview with Jewish Telegraphic Agency (18 January 1937); as quoted in Trotsky and the Jews (1972) by Joseph Nedava, p. 204

People , Youth , Spring , Communication

“The only thing that can console one for being poor is extravagance. The only thing that can console one for being rich is economy.”

Oscar Wilde (1854–1900) Irish writer and poet

A Few Maxims for the Instruction of the Over-Educated (1894)

“The philosophy of black nationalism involves a re-education program in the black community in regards to economics. Our people have to be made to see that any time you take your dollar out of your community and spend it in a community where you don’t live, the community where you live will get poorer and poorer, and the community where you spend your money will get richer and richer. […] If we own the stores, if we operate the businesses, if we try and establish some industry in our own community, then we’re developing to the position where we are creating employment for our own kind. Once you gain control of the economy of your own community, then you don’t have to picket and boycott and beg some cracker downtown for a job in his business.”

Malcolm X (1925–1965) American human rights activist

The Ballot or the Bullet (1964), Speech in Cleveland, Ohio (April 3, 1964)

Money , People , Education , Communication

“MALCOLM X: Freedom, justice and equality are our principal ambitions. And to faithfully serve and follow the Honorable Elijah Muhammad is the guiding goal of every Muslim. Mr. Muhammad teaches us the knowledge of our own selves, and of our own people. He cleans us up--morally, mentally and spiritually--and he reforms us of the vices that have blinded us here in the Western society. He stops black men from getting drunk, stops their dope addiction if they had it, stops nicotine, gambling, stealing, lying, cheating, fornication, adultery, prostitution, juvenile delinquency. I think of this whenever somebody talks about someone investigating us. Why investigate the Honorable Elijah Muhammad? They should subsidize him. He's cleaning up the mess that white men have made. He's saving the Government millions of dollars, taking black men off of welfare, showing them how to do something for themselves. And Mr. Muhammad teaches us love for our own kind. The white man has taught the black people in this country to hate themselves as inferior, to hate each other, to be divided against each other. Messenger Muhammad restores our love for our own kind, which enables us to work together in unity and harmony. He shows us how to pool our financial resources and our talents, then to work together toward a common objective. Among other things, we have small businesses in most major cities in this country, and we want to create many more. We are taught by Mr. Muhammad that it is very important to improve the black man's economy, and his thrift. But to do this, we must have land of our own. The brainwashed black man can never learn to stand on his own two feet until he is on his own. We must learn to become our own producers, manufacturers and traders; we must have industry of our own, to employ our own. The white man resists this because he wants to keep the black man under his thumb and jurisdiction in white society. He wants to keep the black man always dependent and begging--for jobs, food, clothes, shelter, education. The white man doesn't want to lose somebody to be supreme over. He wants to keep the black man where he can be watched and retarded.”

Malcolm X (1925–1965) American human rights activist

Mr. Muhammad teaches that as soon as we separate from the white man, we will learn that we can do without the white man just as he can do without us. The white man knows that once black men get off to themselves and learn they can do for themselves, the black man's full potential will explode and he will surpass the white man.
Playboy interview, regarding the ambition of the Black Muslims
Attributed

Love , Men , Hate , People

“Zionist Israel's occupation of Arab Palestine has forced the Arab world to waste billions of precious dollars on armaments, making it impossible for these newly independent Arab nations to concentrate on strengthening the economies of their countries and elevate the living standard of their people.”

Malcolm X (1925–1965) American human rights activist

Malcolm X on Zionism (1964)

People , World , Country

“If I take the wages of everyone here, individually it means nothing, but collectively all of the earning power or wages that you earned in one week would make me wealthy. And if I could collect it for a year, I'd be rich beyond dreams. Now, when you see this, and then you stop and consider the wages that were kept back from millions of Black people, not for one year but for 310 years, you'll see how this country got so rich so fast. And what made the economy as strong as it is today. And all that slave labor that was amassed in unpaid wages, is due someone today. And you're not giving us anything when we say that it's time to collect.”

Malcolm X (1925–1965) American human rights activist

"Twenty million black people in prison," in Malcolm X: The Last Speeches, p. 51

People , Dreams , Strong , Time

“General disarmament being for the present entirely out of question, a proportionate reduction might be recommended. The safety of any country and of the world's commerce depending not on the absolute, but relative amount of war material, this would be evidently the first reasonable step to take towards universal economy and peace. But it would be a hopeless task to establish an equitable basis of adjustment. Population, naval strength, force of army, commercial importance, water-power, or any other natural resource, actual or prospective, are equally unsatisfactory standards to consider.”

Nikola Tesla (1856–1943) Serbian American inventor

A Means for Furthering Peace (1905)

War , World , Peace , Question

“Our economy is very stable and we managed to develop even in the years of economic crisis. We managed to triple our GDP in less than 10 years”

Ilham Aliyev (1961) 4th President of Azerbaijan from 2003

CNN TV interview during World Economic Forum at Davos (23 January 2013) http://edition.cnn.com/2013/01/23/business/aliyev-rosneft-quest-davos/
Internal politics

“The United States economy is like a poker game where the chips have become concentrated in fewer and fewer hands, and where the other fellows can stay in the game only by borrowing. When their credit runs out the game will stop.”

Marriner Stoddard Eccles (1890–1977) American economist and banker

Beckoning Frontiers (1966 [1951])

Game

“Thus, if there exists a law which sanctions slavery or monopoly, oppression or robbery, in any form whatever, it must not even be mentioned. For how can it be mentioned without damaging the respect which it inspires? Still further, morality and political economy must be taught from the point of view of this law; from the supposition that it must be a just law merely because it is a law. Another effect of this tragic perversion of the law is that it gives an exaggerated importance to political passions and conflicts, and to politics in general.”

Frédéric Bastiat book The Law

The Law (1850)

Law , Passion

“In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects.”

Frédéric Bastiat (1801–1850) French classical liberal theorist, political economist, and member of the French assembly

That which is seen and that which is not seen (Ce qu'on voit et ce qu'on ne voit pas, 1850), the Introduction.
Context: In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it is seen. The others unfold in succession — they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference: the one takes account only of the visible effect; the other takes account of both the effects which are seen and those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, at the risk of a small present evil.

Law , Birth

“But as they all say if we sell our home what will we have for it, money, and what is the use of that money, money goes and after it is gone then where are we, beside we have all we want, what can we do with money except lose it, money to spend is not very welcome, if you have it and you try to spend it, well spending money is an anxiety, saving money is a comfort and a pleasure, economy is not a duty it is a comfort, avarice is an excitement, but spending money is nothing, money spent is money non-existent, money saved is money realised…”

Gertrude Stein book Paris France

Source: Paris France (1940), p. 103

Money , Pleasure , Home

“My fellow immigrants, my fellow Americans how do you know if you are a Republican? I’ll tell you how. If you believe that government should be accountable to the people, not the people to the government, then you are a Republican! If you believe a person should be treated as an individual, not as a member of an interest group, then you are a Republican! If you believe your family knows how to spend your money better than the government does, then you are a Republican! If you believe our educational system should be held accountable for the progress of our children, then you are a Republican! If you believe this country, not the United Nations, is the best hope of democracy in the world, then you are a Republican! If you believe that the American Dream can be reachable if you work hard enough to earn it, then you are a Republican! And, ladies and gentlemen, if you believe we must be fierce and relentless and terminate terrorism, then you are a Republican! 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.”

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

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

Money , Children , People , World

“The roads that we are using today were all built by Smith. All the infrastructure is Smith’s. We never suffered the way we are suffering now because Smith took care of the economy that supported all people and they had enough to eat. When he left power the [British] pound was on a par with the Zimbabwean dollar, but President Mugabe has killed all that.”

Ian Smith (1919–2007) Prime Minister of Rhodesia

Patrick Kombayi, Opposition Politician and former Gweru Mayor, Article http://www.telegraph.co.uk/news/worldnews/1570403/Zimbabweans-praise-generous-Ian-Smith.html in The Telegraph, 2007.
About

People , Way , Support , Suffering

“To begin with, things [after Independence in 1980] went well because [Robert] Mugabe was no fool. He realised [that] it was important to maintain the economy and keep the country expanding. And in any case he was committed to do that by the Lancaster House Agreement which said that there could be no change in [the existing status] for at least seven years unless [he] could get 100% support [from] all the people. In no ways would he have been able to get the support of the white members of Parliament, and also the Matabeles. So we were satisfied that what we were doing was in keeping with the traditions and culture and what was expected of us, and Mugabe used to thank me for coming to see him, [giving] him the benefit of my advice and [telling] him what the white people were thinking. But he only did this for a while because he inherited the best economy in Africa. It was viable. And after two years he quickly changed his mind because he had a lot of money available. He had his [own] commanders in control because he had removed the white commanders who would have taken action against him if he had defied the Lancaster House Agreement before the seven-year [period]. He removed our commanders and put his commanders in so that he knew that he could defy this. And so he breached the Lancaster House Agreement.”

Ian Smith (1919–2007) Prime Minister of Rhodesia

Ian Smith - A Bit Of A Rebel, Ian Smith

Money , People , Fools , Way

“Our country is not flourishing. The enormous creative and spiritual potential of our nations is not being used sensibly. Entire branches of industry are producing goods that are of no interest to anyone, while we are lacking the things we need. A state which calls itself a workers' state humiliates and exploits workers. Our obsolete economy is wasting the little energy we have available.”

Václav Havel (1936–2011) playwright, essayist, poet, dissident and 1st President of the Czech Republic

New Year's Address to the Nation (1990)

Country

“As I have said time and again, the focal point of our economy is the individual.”

Ludwig Erhard (1897–1977) German politician

The Economics of Success (D. van Nostrand & Co., 1963), pp. 283–284

Time

“The importance of oaks both in the economy and in the forest ecosystem is big, but the exceptional part is that this tree plays in the old beliefs and legends.”

Marek Żukow-Karczewski (1961) Polish historian, journalist and opinion journalist

Oak - the king of the Polish trees, "Aura" 9, 1988-09, p. 20-21. http://yadda.icm.edu.pl/yadda/element/bwmeta1.element.agro-72dccf88-5430-4d92-8617-9f550865d9b9?q=1dac2329-67be-4b51-b5b3-4554b1ebe953$15&qt=IN_PAGE

Tree , Parting

“We've always been under sanctions. Even under all those sanctions we have made the growth thus far, so I am not afraid.… If you wish to lift the sanctions then lift them, or if you wish to impose sanctions then impose them. I do not care. We will improve our economy further no matter what.”

Kim Il-sung (1912–1994) President of the Democratic People's Republic of Korea

Source: Remarks to Jimmy Carter (June 1994), as recalled during his final policy meeting and shown in the KCTV documentary The Year 1994

“America - a conservative country without any conservative ideology - appears now before the world a naked and arbitrary power, as, in the name of realism, its men of decision enforce their often crackpot definitions upon world reality. The second-rate mind is in command of the ponderously spoken platitude. In the liberal rhetoric, vagueness, and in the conservative mood, irrationality, are raised to principle. Public relations and the official secret, the trivializing campaign and the terrible fact clumsily accomplished, are replacing the reasoned debate of political ideas in the privately incorporated economy, the military ascendancy, and the political vacuum of modern America.”

C. Wright Mills book The Power Elite

The Power Elite (1956)

Men , Secret , World , Idea

“An exploration of the challenges Korea faces in transforming its economy from a government-directed, low-cost producer to an innovative world economic power based on its own scientific and technological development.”

Lewis M. Branscomb (1926) physicist and science policy advisor

Lewis M. Branscomb, Young-Hwan Choi (1996) Korea at the turning point: innovation-based strategies for development

World

“A free society is as much a threat to the intellectual's sense of worth as an automated economy is to the workingman's sense of worth. Any social order that can function with a minimum of leadership will be anathema to the intellectual.”

Eric Hoffer (1898–1983) American philosopher

Source: The Ordeal of Change (1963), Ch. 12: "Concerning Individual Freedom". [In this passage "work, fight, talk, for liberty than have it" is a quotation of Lincoln Steffens from The Autobiography of Lincoln Steffens (1931), p. 635]
Context: To the intellectual the struggle for freedom is more vital than the actuality of a free society. He would rather "work, fight, talk, for liberty than have it." The fact is that up to now the free society has not been good for the intellectual. It has neither accorded him a superior status to sustain his confidence nor made it easy for him to acquire an unquestioned sense of social usefulness. For he derives his sense of usefulness mainly from directing, instructing, and planning — from minding other people's business — and is bound to feel superfluous and neglected where people believe themselves competent to manage individual and communal affairs, and are impatient of supervision and regulation. A free society is as much a threat to the intellectual's sense of worth as an automated economy is to the workingman's sense of worth. Any social order that can function with a minimum of leadership will be anathema to the intellectual.
The intellectual craves a social order in which uncommon people perform uncommon tasks every day. He wants a society throbbing with dedication, reverence, and worship. He sees it as scandalous that the discoveries of science and the feats of heroes should have as their denouement the comfort and affluence of common folk. A social order run by and for the people is to him a mindless organism motivated by sheer physiologism.

Sense

“p>To the new International that is now in the irreversible process of preparation we can contribute the ideas of worldwide organization and the world state; the English can suggest the idea of worldwide exploitation and trusts; the French can offer nothing….
Thus we find two great economic principles opposed to each other in the modern world. The Viking has become a free-tradesman; the Teutonic knight is now an administrative official. There can be no reconciliation. Each of these principles is proclaimed by a German people, Faustian men par excellence. Neither can accept a restriction of its will, and neither can be satisfied until the whole world has succumbed to its particular idea. This being the case, war will be waged until one side gains final victory. Is world economy to be worldwide exploitation, or worldwide organization? Are the Caesars of the coming empire to be billionaires or universal administrators? Shall the population of the earth, so long as this empire of Faustian civilization holds together, be subjected to cartels and trusts, or to men such as those envisioned in the closing pages of Goethe’s Faust, Part II? Truly, the destiny of the world is at stake….
This brings us to the political aspects of the English-Prussian antithesis. Politics is the highest and most powerful dimension of all historical existence. World history is the history of states; the history of states is the history of wars. Ideas, when they press for decisions, assume the form of political units: countries, peoples, or parties. They must be fought over not with words but with weapons. Economic warfare becomes military warfare between countries or within countries. Religious associations such as Jewry and Islam, Huguenots and Mormons, constitute themselves as countries when it becomes a matter of their continued existence or their success. Everything that proceeds from the innermost soul to become flesh or fleshly creation demands a sacrifice of flesh in return. Ideas that have become blood demand blood. War is the eternal pattern of higher human existence, and countries exist for war’s sake; they are signs of readiness for war. And even if a tired and blood-drained humanity desired to do away with war, like the citizens of the Classical world during its final centuries, like the Indians and Chinese of today, it would merely exchange its role of war-wager for that of the object about and with which others would wage war. Even if a Faustian universal harmony could be attained, masterful types on the order of late Roman, late Chinese, or late Egyptian Caesars would battle each other for this Empire—for the possession of it, if its final form were capitalistic; or for the highest rank in it, if it should become socialistic.”

Oswald Spengler (1880–1936) German historian and philosopher

Prussianism and Socialism (1919)

Men , War , People , World

“Political economy … founds its theory of society upon the self-seeking of the isolated individual. Political economy, in this way, “incorporates private property into the very essence of man.””

Anthony Giddens (1938) British sociologist

Source: Capitalism and Modern Social Theory (1971), p. 14 (Quote is from Marx, Early Writings (1964), p. 148).

Way