Quotes about economy (1476 quotes, page 4)

“Senate Democratic leaders have painted a very bleak picture of the U. S. economy. [Senate Minority Leader] Harry Reid was talking about soup lines. And [Senator] Hillary Clinton was talking about the economy being on the verge of collapse. Yet in the same breath they say that Social Security is rock solid and there's no crisis there. How are you going to work – you've said you are going to reach out to these people – how are you going to work with people who seem to have divorced themselves from reality?”

Jeff Gannon (1957) American journalist

January 26, 2005
Questions asked at Press Conferences

People , Reality , Painting

“The importance to Smith of the overall set of values in which the economy operates is generally ignored by his followers in the late twentieth century. His economics, based upon individual self-interest, is remembered, but his moral framework is not.”

Paul Ormerod book The Death of Economics

Part I, Chapter 1, Economics in Crisis, p. 14
The Death of Economics (1994)

“We can see good economic policies in the context of a consistent analysis of the economy.”

Peter Temin (1937) American economist

Why Keynes is Important Today (2014)

“It is impossible to read the works of the economists who since the time of Smith have endeavored to build up and elucidate the science of political economy without seeing how, over and over again, they stumble over the law of wages without once recognizing it. Yet, "if it were a dog it would bite them!" Indeed, it is difficult to resist the impression that some of them really saw this law of wages, but, fearful of the practical conclusions to which it would lead, preferred to ignore and cover it up, rather than use it as the key to problems which without it are so perplexing. A great truth to an age which has rejected and trampled on it, is not a word of peace, but a sword!”

Henry George book Progress and Poverty

Progress and Poverty (1879)

Truth , Age , Fear , Peace

“Economics is harder than physics; luckily it is not quite as hard as sociology. Why is economics such a hard subject? Part of the answer has to do with complexity. The economy cannot be put in a box. […] Another reason economics is hard is that the critical sociologist is right: it involves human beings, who do not behave in simple, mechanical ways.”

Paul Krugman book Peddling Prosperity

Preface
Peddling Prosperity (1994)

Way , Parting , Box

“The '80s to me, more than anything else, represents a time of real criminal activity in the office of the president: an incredibly disparate economy in terms of the class distinctions and whatnot, and a tremendous shallowness—a lot of sort of bank robbery by executives. This is the '80s to me. And a lot of synthesizer music. And, of course, Madonna and the beginning of MTV.”

Martha Plimpton (1970) American actress

Interview with Keith Phipps March 3, 1999 http://www.avclub.com/articles/martha-plimpton,13582/

Music , Time

“Modern macroeconomics flourished in its pursuit of the secrets of long-run economic growth, but it neglected short-run economic problems. In the long run, prices are flexible, and the growth of the economy is determined by the growth in the ability to supply goods and services. But in the short run prices are not flexible. Growth can be held back because prices are too high and, as a result, demand is too low. Keynes made his name by analyzing short-run problems caused by the stickiness or even rigidity of some important prices. But these Keynesian ideas were abandoned by modern macroeconomics.”

Peter Temin (1937) American economist

Why Keynes is Important Today (2014)

Secret , Idea , Problem

“The economy is so bad, Pat Sajak had to take out a home loan just to buy a vowel!”

Jimmy Fallon (1974) American TV Personality

Hosting The Tonight Show, October 31, 2016
Unsourced

Home

“The variety of minds served the economy of nature in many ways. The Creator, who designed the human brain for activity, had insured the restlessness of all minds by enabling no single one to envisage all the qualities of the creation. Since no one by himself could aspire to a serene knowledge of the whole truth, all men had been drawn into an active, exploratory and cooperative attitude.”

Daniel J. Boorstin (1914–2004) American historian

Source: The Lost World of Thomas Jefferson (1948), Ch. 3, Part 2: The Happy Variety of Minds, p. 125.

Men , Truth , Way , Nature

“I’m running for President to build an economy that works for everyone, not just those at the top. And based on what we know from the Trump campaign, he wants America to work for him and his friends, at the expense of everyone else.”

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

Presidential campaign (April 12, 2015 – 2016), Speech in Warren, Michigan (August 11, 2016)

“I have a foreboding of an America in my children's or grandchildren's time -- when the United States is a service and information economy; when nearly all the manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.”

Carl Sagan (1934–1996) American astrophysicist, cosmologist, author and science educator

Source: The Demon-Haunted World : Science as a Candle in the Dark (1995), Ch. 2 : Science and Hope, p. 25

Children , People , Feeling , Question

“Diverting attention from the way in which certain beliefs, desires, attitudes, or values are the result of particular power relations, then, can be a sophisticated way of contributing to the maintenance of an ideology, and one that will be relatively immune to normal forms of empirical refutation. If I claim (falsely) that all human societies, or all human societies at a certain level of economic development, have a free market in health services, that is a claim that can be demonstrated to be false. On the other hand, if I focus your attention in a very intense way on the various different tariffs and pricing schema that doctors or hospitals or drug companies impose for their products and services, and if I become morally outraged by “excessive” costs some drug companies charge, discussing at great length the relative rates of profit in different sectors of the economy, and pressing the moral claims of patients, it is not at all obvious that anything I say may be straightforwardly “false”; after all, who knows what “excessive” means? However, by proceeding in this way I might well focus your attention on narrow issues of “just” pricing, turning it away from more pressing issues about the acceptance in some societies of the very existence of a free market for drugs and medical services. One can even argue that the more outraged I become about the excessive price, the more I obscure the underlying issue. One way, then, in which a political philosophy can be ideological is by presenting a relatively marginal issue as if it were central and essential.”

Raymond Geuss book Philosophy and Real Politics

Source: Philosophy and Real Politics (2008), p. 54.

Health , Way , Falseness

“Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist!”

Jim Stanford (1961) Canadian economist

Part 5, Chapter 27, Replacing Capitalism?, p. 328
Economics For Everyone (2008)

Communication

“The people are being kept in line at the moment, because there are still lots of shiny new things for them to buy. But more and more Americans are beginning to look beyond their immediate material comfort and to worry about the long-term moral slide of their country. If the economy slips badly, there will be hell to pay. More and more people will listen to the dissidents. A big problem for the Jews is how to silence the dissidents now, how to stifle the people who are asking inconvenient questions and thinking dangerous thoughts, before these thoughts spread to other people. They've tried to do it with legislation, but the country isn't yet in a mood to be told what it can think. What the Jews need is a nice, big war. Then they can crack down on the dissidents. Then they can call us "subversives." Then they can call us "unpatriotic," because we will be against their war… That's why I am convinced that there will be a strong effort to involve America in another major war during the next four years. This effort will be disguised, of course. It will be cloaked in deceit, as such efforts always are. While the warmongers are scheming for war, they will tell us how much they want peace. They're good at that sort of thing. They've had a lot of practice. But they will be scheming for war, believe me, no matter what they say. And when that war comes, remember what you have read today.”

William Luther Pierce (1933–2002) American white nationalist

Get Set for War, 1997.
1990s, 1990

War , People , Peace , Mood

“In a world that had become a salvage operation, the general supply evolved into Union Grove's leading industry. When every last useful thing in town had been stripped from the Kmart and the United Auto, the CVS drugstore, and other trading establishments of the bygone national chain-store economy, daily life became a perpetual flea market centered on the old town dump.”

James Howard Kunstler book World Made By Hand

Source: World Made By Hand (2008), Chapter 5, p. 28

Life , World

“I believe in the American Constitution. I favor the American system of individual enterprise, and I am opposed to any general extension of government ownership, and control. I believe not only in advocating economy in public expenditure, but in its practical application and actual accomplishment. I believe in a reduction and reform of taxation, and shall continue my efforts in that direction.”

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

From his formal acceptance of the Republican party’s nomination for President (14 August 1924), as quoted in Coolidge: An American Enigma (1998), by Robert Sobel, Regnery Publishing, p. 292.
1920s

Effort

“If we engraft the current meaning of the word "economy" (the avoiding of waste) upon its etymological meaning (the administration of a household), we shall arrive at "the administration of the affairs and resources of a household in such a manner as to avoid waste and secure efficiency" as our conception of "Economy." "Political" Economy would, by analogy, indicate the administration, in the like manner, of the affairs and resources of a State, regarded as an extended household or community, and regulated by a central authority; and the study of Political Economy would be the study of the principles on which the resources of a community should be so regulated and administered as to secure the communal ends without waste.”

Philip Wicksteed book The Common Sense of Political Economy

Page 14.
The Common Sense of Political Economy (1910), Systematic and Constructive (Book I), "Introductory: Administration of Resources and Choice Between Alternatives. Price and the Relative Scale" (ch. 1)

Communication , Study

“At Chicago, I was in the midst of a veritable galaxy of stars: Trygve Haavelmo, Tjalling Koopmans, Theodore Anderson, Leonid Hurwicz, Herman Rubin, Kenneth Arrow, Don Patinkin, Herman Chernoff, and Herbert Simon, among others. I completed my first of a series of macroeconometric models, solidified my understanding of econometrics, learned (through endless discussion) about the functioning of the economy, and got started on several theoretical paths such as aggregation, demand systems, and prediction.”

Lawrence Klein (1920–2013) American economist

Star , Understanding , Learning

“I'm not a scientist, man. I can tell you what recorded history says, I can tell you what the Bible says, but I think that's a dispute amongst theologians and I think it has nothing to do with the gross domestic product or economic growth of the United States. I think the age of the universe has zero to do with how our economy is going to grow. I'm not a scientist. I don't think I'm qualified to answer a question like that. At the end of the day, I think there are multiple theories out there on how the universe was created and I think this is a country where people should have the opportunity to teach them all. I think parents should be able to teach their kids what their faith says, what science says. Whether the Earth was created in 7 days, or 7 actual eras, I'm not sure we'll ever be able to answer that. It's one of the great mysteries.”

Marco Rubio (1971) U.S. Senator from state of Florida, United States; politician

2012
December
All Eyez on Him
Michael
Hainey
GQ
http://www.gq.com/news-politics/politics/201212/marco-rubio-interview-gq-december-2012?currentPage=2
Posed question: How old do you think the Earth is?
2010s, 2012

People , Age , Faith , History

“In Vermont, at a state beach, a mother is reprimanded by Authority for allowing her 6 month old daughter to go about without her diapers on. Now, if children go around naked, they are liable to see each others sexual organs, and maybe even touch them. Terrible thing! If we [raise] children up like this it will probably ruin the whole pornography business, not to mention the large segment of the general economy which makes its money by playing on peoples sexual frustrations.”

Bernie Sanders (1941) American politician, senator for Vermont

1969 essay in the Freeman — as quoted in "You Might Very Well Be the Cause of Cancer": Read Bernie Sanders' 1970s-Era Essays http://www.motherjones.com/politics/2015/07/bernie-sanders-vermont-freeman-sexual-freedom-fluoride, by Tim Murphy, Mother Jones (6 July 2015)
1970s

Money , Children , People , Business

“I am aware that many regard me as an anti-sports character person, but the truth is that the country’s economy by then was in bad shape. Tanzania being among the highly indebted countries, I had to give sports the least prominence during my first term, while setting priorities in revitalising our economy.”

Benjamin Mkapa (1938) Tanzanian politician and former president

2011-05-07 http://dailynews.co.tz/sports/?n=19642&cat=sports
2011

Truth , Sport , Personality , Country

“No future can be beautiful which involves an economy that violates the rights of future generations, that degrades fundamental planetary systems in any way, or that fails to offer every human being a basic share of safety, dignity and happiness.”

Alex Steffen (1968) American writer and futurist

Beauty , Way , Future , Happiness

“Most of us understand that innovation is enormously important. It's the only insurance against irrelevance. It's the only guarantee of long-term customer loyalty. It's the only strategy for out-performing a dismal economy.”

Gary Hamel (1954) American management expert

Gary Hamel in: Gary Hamel On Innovating Innovation http://www.forbes.com/sites/stevedenning/2012/12/04/gary-hamel-on-innovating-innovation/, Forbes, 4 December 2012.

Understanding , Loyalty

“Thirty percent of Republicans believe the scourge of the Earth is Mexican immigration. What's the reason for why I don't have a job? Well, make, make Mexican immigration the scapegoat for that. I understand why there's that sentiment. And there's a logic to the fact that they're coming over. They're taking our jobs. They're taking, you know, they're siphoning off our welfare system. When the reality is anything but. They are not taking jobs that U. S. citizens want. They're the cream of the crop when it comes to workers. And they are contributing to the economy.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

2016, Interview with CNBC's John Harwood (August 22, 2016)

Understanding , Reality

“The end of the Neolithic age betokens almost as universal a re-orientation of life, almost as profound a revolution of economy and society, as its beginning. Then the break was marked by the transition from mere consumption to production, from primitive individualism to co-operation, now it is marked by the beginning of independent trade and handicrafts, the rise of cities and markets, and the agglomeration and differentiation of the population.”

Arnold Hauser (1892–1978) Hungarian art historian

The Social History of Art, Volume I. From Prehistoric Times to the Middle Ages, 1999, Chapter II. Ancient Oriental Urban cultures

Life , Age , Universe

“Collaboration is important not just because it's a better way to learn. The spirit of collaboration is penetrating every institution and all of our lives. So learning to collaborate is part of equipping yourself for effectiveness, problem solving, innovation and life-long learning in an ever-changing networked economy.”

Don Tapscott (1947) Canadian businessman

Don Tapscott, in: The spirit of collaboration is touching all of our lives http://www.theglobeandmail.com/globe-debate/the-spirit-of-collaboration-is-touching-all-of-our-lives/article12409331/, The Globe and Mail, 7 June 2013

Life , Way , Problem , Learning

“Foreign investors did not build South Korea - South Koreans developed their country; the Germans built their economy, an economy that was once in ruins. The Germans suffered a lot but now they are the best.”

Aliko Dangote (1957) Nigerian billionaire entrepreneur

The Scoop NG http://www.thescoopng.com/we-have-scavengers-holding-licences-in-nigeria-10-quotes-by-aliko-dangote-during-birthday-event/

Suffering , Country

“I didn’t inherit my job or my income, and I worked to get where I am. Given the economy, there’s no retirement in sight, and I’m tired. Very tired.”

Robert A. Hall (1946) American politician

I'm Tired (February 19, 2009)

“If we are to ban CFC production completely, as I believe that we should, we must also accept that considerable support must be given to other countries which wish to continue to produce refrigerators and similar products. The technology to produce those goods without CFCs must be transferred to China, India and other countries which need it. If that does not happen, we cannot lecture those countries about producing CFCs while we hold that technology to ourselves and use it as an economic lever against poorer countries and poorer people throughout the world. The economic imbalance between countries is at the root of the world's problems…If we are to sort out the problems of poverty and of the environment, we require a real restructuring of the world's economy. That will not be achieved by imposing a model of market forces on the poorest people in the poorest countries but by paying those people for the products that they produce, not hoarding technological advances for ourselves but sharing and spreading them around the world, and not persuading and pushing countries to revert to monoculture production, which is dangerous and damaging to the environment.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1990/jun/26/aid-and-the-environment in the House of Commons (26 June 1990).
1990s

People , World , Support , Problem

“There as elsewhere a cruel universe combined to crush a child. As though three or four vigorous brothers and sisters, with the best will, were not enough to crush any child, every one else conspired towards an education which he hated. From cradle to grave this problem of running order through chaos, direction through space, discipline through freedom, unity through multiplicity, has always been, and must always be, the task of education, as it is the moral of religion, philosophy, science, art, politics, and economy; but a boy's will is his life, and he dies when it is broken, as the colt dies in harness, taking a new nature in becoming tame. Rarely has the boy felt kindly towards his tamers. Between him and his master has always been war. Henry Adams never knew a boy of his generation to like a master, and the task of remaining on friendly terms with one's own family, in such a relation, was never easy.”

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

The Education of Henry Adams (1907)

Life , Hate , War , Education

“I find it amazing now that my first economics class, taught by Alan Sweezy, used John Maynard Keynes’s General Theory of Income and Employment as the textbook. Although this book is one of the most influential works of the twentieth century, it makes a really lousy textbook. Moreover, since I now regard Keynes’s analysis as seriously flawed, it is surprising that I enjoyed the course so much. As a student, I appreciated the simple way that the Keynesian model explained the workings and failings of the overall economy. Especially appealing were the clever policy remedies, such as increased government spending and tax cuts, that Keynes recommended to combat unemployment. Too bad that I discovered later that the model was theoretically and empirically deficient!”

Robert Barro (1944) American classical macroeconomist

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

Books , Way

“In a world where millions of human beings live in extreme poverty, die of malnutrition and lack medical care, where pandemics continue to kill, it is imperative to pursue good faith disarmament negotiations and to shift budgets away from weapons production, war-mongering, surveillance of private persons and devote available resources to address global challenges including humanitarian relief, environmental protection, climate change mitigation and adaptation, prevention of pandemics, and the development of a green economy.”

Alfred de Zayas (1947) American United Nations official

United Nations expert urges states to cut military spending and invest more in human development http://www.unog.ch/80256EDD006B9C2E/(httpNewsByYear_en)/D5D061E9891363C1C1257CB7003055E0?OpenDocument.
2014

War , World , Faith , Change

“Centuries of growth in advanced economies have left little carbon space for the developing world, challenging their growth. The thin lines of balancing economic development and protection of the environment will remain a great challenge in future development policy-setting. It is therefore critical that developed countries honour their commitments and compensate damage to the environment, on the basis of common but differentiated responsibilities.”

Mahinda Rajapaksa (1945) Prime Minister of Sri Lanka

United Nations, Sri "Lanka urges UN to study global inequality, failure to lift millions out of poverty" http://www.un.org/apps/news/story.asp/html/story.asp?NewsID=45978&Cr=general+assembly&Cr1=, 24 September 2013.

World , Future , Country

“All American and Israeli goods and products should be boycotted in a way that undermines American and Israeli interests so as to act as deterrence to their war against Muslims and Islam that is being waged under the pretense of fighting terrorism. This boycott should become an overwhelming trend that makes these two states feel that their economies are in a real and actual danger.”

Mohammad Hussein Fadlallah (1935–2010) Lebanese faqih

Muslim News June 28, 2002 http://archive.muslimnews.co.uk/paper/index.php?article=697

War , Way , Feeling , Fight

“The state has an active role to play in ensuring that there is equilibrium between the constituent parts of the economy, the consumers and the producers.”

Pierre Trudeau (1919–2000) 15th Prime Minister of Canada

Part 3, 1974 - 1979 Victory And Defeat, p. 189
Memoirs (1993)

Parting

“America needs a president who can fix the economy because he understands the economy, and I do and I will.”

Mitt Romney (1947) American businessman and politician

[2012-02-05, Nevada Caucus 2012 Full Victory Speech: Mitt Romney Targets President Obama's Economic Policies, ABC News, YouTube, http://www.youtube.com/watch?v=lALG8hwQ_iw]
2012

Understanding

“Barack Obama has failed America. When he took office, the economy was in recession. He made it worse. And he made it last longer. Three years later, over 16 million Americans are out of work or have just quit looking. Millions more are underemployed. Three years later, unemployment is still above 8%, a figure he said his stimulus would keep from happening. Three years later, foreclosures are still at record levels. Three years later the prices of homes continue to fall. Three years later, our national debt has grown nearly as large as our entire economy. Families are buried under higher prices for food and higher prices for gasoline. It breaks my heart to see what's happening in this country. These failing hopes make up President Obama's own misery index. It's never been higher.”

Mitt Romney (1947) American businessman and politician

Mitt Romney 2012 Presidential Campaign Announcement Speech http://blog.4president.org/2012/2011/06/mitt-romney-2012-presidential-campaign-announcement-speech-june-2-2011-stratham-new-hampshire-remark.html
2011

Family , Food , Hope , Home

“Following the financial crisis of September 2008 when the American investment bank Lehman Brothers collapsed, threatening to engulf the entire banking system, the British economist John Maynard Keynes returned to center stage. In the popular press and in the writings of many economists, Keynes featured prominently as governments around the world urgently sought ways to avoid economic collapse. (…) After only a brief delay, critics of Keynes’s ideas also began to appear; but the emergence of such critics only served to emphasize the fact of his return, for only a few years earlier Keynes’s name would not even have appeared in public debate about economic policy: his ideas were seen as having so little relevance that it did not even seem necessary to mention his name when discussing the performance of the economy.”

Roger Backhouse (economist) (1951) British economist

Roger E. Backhouse and Bradley W. Bateman, ch.1 "Keynes Returns, but Which Keynes?" Capitalist revolutionary : John Maynard Keynes (2011).

World , Way , Idea , Appearance

“In my message last year I emphasized the necessity for further legislation with a view to expediting the consolidation of our rail ways into larger systems. The principle of Government control of rates and profits, now thoroughly embedded in our governmental attitude toward natural monopolies such as the railways, at once eliminates the need of competition by small units as a method of rate adjustment. Competition must be preserved as a stimulus to service, but this will exist and can be increased tinder enlarged systems. Consequently the consolidation of the railways into larger units for the purpose of securing the substantial values to the public which will come from larger operation has been the logical conclusion of Congress in its previous enactments, and is also supported by the best opinion in the country. Such consolidation will assure not only a greater element of competition as to service, but it will afford economy in operation, greater stability in railway earnings, and more economical financing. It opens large possibilities of better equalization of rates between different classes of traffic so as to relieve undue burdens upon agricultural products and raw materials generally, which are now not possible without ruin to small units owing to the lack of diversity of traffic. It would also tend to equalize earnings in such fashion as to reduce the importance of section 15A, at which criticism, often misapplied, has been directed. A smaller number of units would offer less difficulties in labor adjustments and would contribute much to the, solution of terminal difficulties.”

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

1920s, Second State of the Union Address (1924)

Way , Fashion , Support , Nature

“Unlawful revenue which, after being conveniently cleaned, is then reinvested within the legal economy: polluting it, corrupting it, forging it, killing it. Whether it’s reinvested in the London property market, in Parisian restaurants, or in hostels on the; to have profited from the crisis, to have fed on the crisis, to have contributed to the crisis. And it’s in the crisis that it finds its satellite activities, such as usury, gambling, counterfeiting. But the most important – and most alarming – aspect of this issue is that it’s exactly in times of crisis that criminal organisations find their safe haven in banks.”

Roberto Saviano (1979) Italian journalist, writer and essayist

Dirty Money in London event (2016)

Time

“One of my heroes, almost necessarily from what I'm saying, of course, is Borges, who is a supreme master of doing thing -- being a data bank -- and the beauty of this economy is that he could have written War and Peace in three or four pages; who knows, it might have been a better book.”

Peter Greenaway (1942) British film director

From an interview in Art and Design, no. 49
Interviews

War , Books , Peace , Beauty

“This sensitivity to the phenomena of recession and inflation is a symptom of an increased public awareness of both the need for and the attainability of economic progress. It is precisely because so much of current industrial and governmental practice can be better in the future that our meetings this year are focused on the broad problem of improving the performance of the American economy. However, as we go about the task of appraisal and criticism, it will be well to discipline our impatience for reform. In the measure that we avoid exaggerating our nation's failures or understating its successes, we shall make it easier for ourselves as well as for economists in other countries to see current needs and developments in a just perspective.”

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

Source: "Progress Towards Economic Stability", 1969, p. 101-2

Failure , Problem , Success , Future

“If the terriers and barriffs are torn down, this economy will grow.”

George W. Bush (1946) 43rd President of the United States

Campaign speech http://www.youtube.com/watch?v=EfRoesb33ic (7 January 2000), Rochester, New York.
2000s, 2000

“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

“We have strong economic relationships with the rest of the UK. With our EU partners. And with large and small nations across the world. And I would contend that the basis of that framework is not Scotland's relationship with the other nations of the UK - strong and enduring though that will be. Rather, the reality is that our fundamental economic role is as a member of the world's largest single market - the European Union. And it is this relationship which does most to shape the rules and the terms of our global commercial ties. Nonetheless it remains for many an article of faith that a positive future for Scotland's economy depends squarely on our continuing membership of the United Kingdom. … I for one was not convinced!”

Alex Salmond (1954) Scottish National Party politician and former First Minister of Scotland

Scotland in the World Forum (February 4, 2008)

World , Faith , Reality , Strong

“If running a productive, Western-style economy were simply a matter of culture, it should be possible for African and Middle Eastern countries to import Western institutions and business methods, just as East Asian countries have done. But this is evidently not a straightforward task. Though it was justifiable at first to blame the evils of colonialism, two generations or more have now passed since most foreign powers withdrew from Africa and the Middle East, and the strength of this explanation has to some extent faded.”

Nicholas Wade (1942) British writer

A Troublesome Inheritance: Genes, Race and Human History (2014)

Business , Evil , Country

“With deregulation, one sector of the economy after another is "liberated" to capital's unmonitored authority. The very notion that there is a public interest is contested.”

Herbert Schiller (1919–2000) American media critic

Source: Living In The Number One Country (2000), Chapter Three, Communication Today: What's New?, p. 92

“I dream of India becoming one of four most powerful economies of the world. I believe this dream can be made a reality within our life times.”

Mukesh Ambani (1957) Indian business magnate

Quoted in page=30
Mukesh Dhirajlal Ambani, Anil Dhirajlal Ambani

Life , World , Dreams , Reality

“The third dimension of three-dimensional economics, change, suggests that studying economics also means studying history. The process of change in society cannot be understood without considering the past and how it changed, eventually becoming the present. Change in political economy may be contrasted with the static approach of conventional economics that freezes time at a moment.”

Samuel Bowles (1939) American economist

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 57

History , Study , Change , Time

“Probably the greatest single weakness of the Sino-Soviet bloc is her shaky economy. Here is a soft spot where peaceful pressures could be devastating. No amount of Soviet propaganda can cover up the obvious collapse of the Chinese communes and the sluggish inefficiency of the Soviet collectivized farms. Every single Soviet satellite is languishing in a depression. Even Pravda has openly criticized the lack of bare essentials and the shoddy quality of Russian-made goods. These factors of austerity and deprivation add to the hatred and misery of the people which constantly feed the flames of potential revolt. Terrorist tactics have been used by the Red leaders to suppress uprisings. In spite of the virtual "state of siege" which exists throughout the Soviet empire, there are many outbreaks of violent protest. All of this explains why the Soviet leaders are constantly pleading for "free trade," "long-term loans," "increased availability of material goods from the West." Economically, Communism is collapsing but the West has not had the good sense to exploit it. Instead, the United States, Great Britain and 37 other Western powers are shipping vast quantities of goods to the Sino-Soviet bloc. Some business leaders have had the temerity to suggest that trade with the Reds helps the cause of peace. They suggest that "you never fight the people you trade with." Apparently they cannot even remember as far back as the late Thirties when this exact type of thinking resulted in the sale of scrap iron and oil to the Japanese just before World War II. After the attack on Pearl Harbor it became tragically clear that while trade with friends may promote peace, trade with a threatening enemy is an act of self-destruction. Have we forgotten that fatal lesson so soon?”

W. Cleon Skousen book The Naked Communist

The Naked Communist (1958)

War , People , World , Peace

“In pursuance of my business and professional studies, I use the naked model.A number of my women pupils have for economy studied from each others' figures, and of these some have obtained from time to time my criticism on their work. I have frequently used as models for myself my male pupils: very rarely female pupils and then only with the knowledge and consent of their mothers.One of the women pupils some years ago gave to her lover who communicated it to Mr. Frank Stephens a list of these pupils as far as she knew them, and since that time Mr. Frank Stephens has boasted to witnesses of the power which this knowledge gave him to turn me out of the Academy, the Philadelphia Sketch Club, & the Academy Art Club, and of his intention to drive me from the city.”

Thomas Eakins (1844–1916) American painter

Letter to Emily Sartain (1886-03-25). Frank Stephens was Eakins' brother-in-law.

Women , Art , Communication , Lovers

“For the early Church, "church" and "world" were visibly distinct yet affirmed in faith to have one and the same lord. This pair of affirmations is what the so-called Constantinian transformation changes (I here use the name of Constantine merely as a label for this transformation, which began before AD200 and took over 200 years; the use of his name does not mean an evaluation of his person or work). The most pertinent fact about the new state of things after Constantine and Augustine is not that Christians were no longer persecuted and began to be privileged, nor that emperors built churches and presided over ecumenical deliberations about the Trinity; what matters is that the two visible realities, church and world, were fused. There is no longer anything to call "world"; state, economy, art, rhetoric, superstition, and war have all been baptized.”

John Howard Yoder (1927–1997) 20th century American Mennonite theologian

"The Otherness of the Church" (1961) in A Reader in Ecclesiology (2012), p. 200

War , World , Faith , Art

“Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.”

Edmund Burke A Letter to a Noble Lord

A Letter to a Noble Lord (1796)

Parting

“What has become clear is that Britain cannot trust the Conservatives to run the economy. Everyone knows that I'm all in favour of apprenticeships, but let me tell you this is no time for a novice.”

Gordon Brown (1951) British Labour Party politician

Speech at the Labour Party conference http://www.labour.org.uk/gordon_brown_conference, 23 September 2008.
Prime Minister

Time

“Over the years and against conventional wisdom, utopians sustained a vision of life beyond the market. … Georg Lukács set forth a theory of the “old and new culture” in which he argued that the socialist economy was not the goal; it was simply a precondition for humanity to advance to a new and humane culture. Most radicals do not understand that political power and economic reorganization is not the end-all, stated Lukács. The goal is not a new economic order, but freedom from an obsession with economics.”

Russell Jacoby (1945) American historian

Source: The End of Utopia (1999), p. 27

Life , Wisdom , Understanding , Freedom

“I believe that thrift is essential to well-ordered living and that economy is a prime requisite of a sound financial structure, whether in government, business or personal affairs.”

John D. Rockefeller, Jr. (1874–1960) American financier and philanthropist

I Believe

Business , Personality

“As you may have heard in my last campaign, I am called by many names. “Protectionist” is one of the nicer ones; but it is inexact. I am an economic nationalist. To me, the country comes before the economy; and the economy exists for the people. I believe in free markets, but I do not worship them. In the proper hierarchy of things, it is the market that must be harnessed to work for man – and not the other way around.”

Patrick Buchanan (1938) American politician and commentator

Speech: Chicago Council on Foreign Relations (November 1998)
1990s

People , Way , Country

“Fay: Have you known him long?
Hal: We shared the same cradle.
Fay: Was that economy or malpractice?
Hal: We were too young then to practice and economics still defeat us.”

Joe Orton (1933–1967) English playwright and author

Loot (1965), Act I

“I think if you look at the overall record and millions of jobs have been created, et cetera, et cetera, you could make an argument that there's been great progress economically over that period of time. But that's no comfort. That's no comfort to families now that are facing these tremendous economic challenges. But let me just add, Peter, the fundamentals of America's economy are strong.”

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

Interview with Peter Cook on Bloomberg TV http://www.realclearpolitics.com/articles/2008/04/john_mccain_on_bloomberg_tv.html regarding economic progress during the Bush administration, 17 April 2008
2000s, 2008

Family , Thinking , Strong , Time

“The progressive historical role of capitalism may be summed up in two brief propositions: increase in the productive forces of social labour, and the socialisation of that labour. But both these facts manifest themselves in extremely diverse processes in different branches of the national economy.”

Vladimir Lenin book The Development of Capitalism in Russia

Source: The Development of Capitalism in Russia (1899), Chapter Eight

“The market theory is, there should be international mobility of capital. I said, why not international movement of labour? Marketing theory only envisages mobility of all factors of production. That means their medicines can come, but our doctors cannot go. Their engineering goods can come, our engineers cannot go. Secondly, they want the developing countries to open up but deny them access to technology. Certainly, our economies have been too protected. But that has to go gradually.”

V. P. Singh (1931–2008) Indian politician

We are ruled by an upper caste Hindu raj

Country

“Increasing-returns economics has roots that go back 70 years or more, but its application to the economy as a whole is largely new.”

W. Brian Arthur (1946) American economist

Source: Increasing Returns and Path Dependence in the Economy, (1994), p. 1: Chapter 1. Positive feedback in economics

“Structural reforms and respecting European treaties are the two pre-requisites to reduce deficits in the long-term and boost the economy’s potential growth rate which, at around 1%, is much lower than the government estimates (close to 4%). It is the French economy’s ‘corsets’ that are to blame for the country’s weak growth (both potential and recorded) which itself generates the deficits and not the austerity policies made necessary by galloping deficits as partisans of the so-called demand- led policy think. The French economy is primarily ill because of its public finances.”

Éric Pichet (1960) economist

Le programme de stabilité et le pacte de responsabilité : la trajectoire des finances publiques de 2014 à 2017 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2499496 Article in Revue de Droit Fiscal n31-35 (2014).
Structural reforms, The French Economy corsets

Thinking , Country

“I see the expression of… economy clearly in the gradual reduction of the statical laws of machines to a single one, viz., the principle of virtual work: in the replacement of Kepler's laws by Newton's single law… and in the [subsequent] reduction, simplification and clarification of the laws of dynamics. I see clearly the biological-economical adaptation of ideas, which takes place by the principles of continuity (permanence) and of adequate definition and splits the concept 'heat' into the two concepts of 'temperature' and 'quantity of heat'; and I see how the concept 'quantity of heat' leads on to 'latent heat', and to the concepts of 'energy' and 'entropy.”

Ernst Mach (1838–1916) Austrian physicist and university educator

Mach (1910) "Die Leitgedanken meiner naturwissenschaftlichcn Erkennenislehre und ihr Aufnahme durch die Zeitgenossen", Physikalische Zeitschrift. 1, 1910, 599-606 Eng. trans. as "The Guiding Principles of my Scientific Theory of Knowledge and its Reception by my Contemporaries", in S. Toulmin ed., Physical Reality, New York : Harper, 1970. pp.28-43. Cited in: K. Mulligan & B. Smith (1988) " Mach and Ehrenfels: Foundations of Gestalt Theory http://ontology.buffalo.edu/smith/articles/mach/mach.pdf"
20th century

Law , Idea

“Government is doing the exact opposite of what really needs to be done. George Bush and Barack Obama have pumped trillions more in counterfeit currency and credit into an economy already deathly ill from such treatment. If it goes on, we stand to suffer hyperinflation (all inflation consists of, no matter what they told you in Economics 101, is government generation of phony money) followed by another, very possibly terminal depression. Before it's over, the country — if not the whole world — will be locked down under brutal military rule, and our species likely will never again know freedom, progress, or prosperity.”

L. Neil Smith (1946) American writer

"The Unnecessary Depression," http://www.ncc-1776.org/tle2009/tle504-20090201-02.html 1 February 2009.

Money , World , Freedom , Suffering

“Business-cycle theorists concerned themselves with why the economy naturally generated fluctuations in employment and output, [while the rest of the profession] continued to operate on the assumption that full employment was the natural, equilibrium position for the economy.”

Robert Aaron Gordon (1908–1978) American economist

Source: Business Fluctuations (1952), p. 340; as cited in: Thomas Cate (2013), An Encyclopedia of Keynesian Economics, Second edition. p. 347

Business , Nature

“But the capitalist idea of profitability actually becomes an economic nonsense in the branches of our economy that today rule everything, in the banking and stock-exchange system. The fact of the ruling position of the banks proves most strikingly the economic senselessness of the capitalist idea. With the ‘productions’ of the banks and stock-exchanges never yet has a child been fed, never yet has a freezing person been clothed, in general never has even the smallest requirement that is necessary for life been supplied.”

Gottfried Feder (1883–1941) German economist and politician

Source: The German State on a National and Socialist Foundation (1923), p. 28

Life , Idea , Personality , Clothes

“American clipper ships opened the British ports to free trade. Half a century of American smuggling and rebellion and costly ineffectual blockades; seven years of war in America, and the loss of the thirteen colonies; and all the sound and sensible arguments of English liberals and economists, could not break down the British planned economy. American clipper ships did it.”

Rose Wilder Lane (1886–1968) American journalist

Source: Discovery of Freedom: Man's Struggle Against Authority (1943), p. 239

https://mises.org/system/tdf/The%20Discovery%20of%20Freedom_2.pdf?file=1&type=document Discovery of Freedom: Man's Struggle Against Authority

War , Loss

“The whole purpose of college is to learn how to deal with difficult situations, not to run away from them. A micro-aggression is exactly that : micro. But in a macro sense, one of the most dangerous places on a college campus is the so-called 'safe space', because it creates a false impression that we can isolate ourselves from those who hold different views. We can't, and we shouldn't try—not in politics or in the workplace. Graduates, in the global economy, and in a democratic society, an open mind is the most valuable asset you can possess.”

Michael Bloomberg (1942) American businessman and politician, former mayor of New York City

Commencement Address given at the Universiy of Michigan, Ann Arbor (30 April 2016), as recorded on Youtube https://www.youtube.com/watch?v=YE0VYRPTUrc
Education

Sense , Learning , Falseness

“I have pursued this intellectual program by building a radical alternative in social theory to Marxism, by recasting legal thought as an instrument of the institutional imagination, by proposing particular institutional alternatives for the organization of the economy and the state, and by developing a philosophical conception of nature and mankind within which history is open, novelty is possible, and the divinization of humanity counts for more than the humanization of society.”

Roberto Mangabeira Unger book The Left Alternative

Source: The Left Alternative (2009), p. 187-8

Imagination , History , Nature

“We have an economy where we steal the future, sell it in the present, and call it GDP [gross domestic product].”

Paul Hawken (1946) American environmentalist

Paul Hawken Top 10 Myths About Sustainability http://www.mindfully.org/Sustainability/2009/Myths-About-Sustainability9mar09.htm at mindfully.org, 2009.

Future

“Undoubtedly, looking back, we nearly all allowed ourselves, for decades, to be frozen into rates of personal taxation which were ludicrously high… That frozen framework has been decisively cracked, not only by the prescripts of Chancellors but in the expectations of the people. It is one of the things for which the Government deserve credit… However, even beneficial revolutions have a strong tendency to breed their own excesses. There is now a real danger of the conventional wisdom about taxation, public expenditure and the duty of the state in relation to the distribution of rewards, swinging much too far in the opposite direction… I put in a strong reservation against the view, gaining ground a little dangerously I think, that the supreme duty of statesmanship is to reduce taxation. There is certainly no virtue in taxation for its own sake… We have been building up, not dissipating, overseas assets. The question is whether, while so doing, we have been neglecting our investment at home and particularly that in the public services. There is no doubt, in my mind at any rate, about the ability of a low taxation market-oriented economy to produce consumer goods, even if an awful lot of them are imported, far better than any planned economy that ever was or probably ever can be invented. However, I am not convinced that such a society and economy, particularly if it is not infused with the civic optimism which was in many ways the true epitome of Victorian values, is equally good at protecting the environment or safeguarding health, schools, universities or Britain's scientific future. And if we are asked which is under greater threat in Britain today—the supply of consumer goods or the nexus of civilised public services—it would be difficult not to answer that it was the latter.”

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

Speech http://hansard.millbanksystems.com/lords/1988/feb/24/opportunity-and-income-social-disparities in the House of Lords (24 February 1988).

Wisdom , People , Health , School

“… a rather different class of applications of the idea of best allocation of scarce resources… usually referred to as the theory of optimal economic growth. In most studies of this kind made in the countries with market economies there is not an identifiable client to whom the findings are submitted as policy recommendations. Nor is there an obvious choice of objective function, such as cost minimization or profit maximization in the studies addressed to individual enterprises. The field has more of a speculative character. The models studied usually contain only a few highly aggregated variables. One considers alternative objective functions that incorporate or emphasize various strands of ethical, political, or social thought. These objectives are then tried out to see what future paths of the economy they imply under equally simplified assumptions of technology or resource availability.”

Tjalling Koopmans (1910–1985) Dutch American economist

Source: Concepts of Optimality and Their Uses, 1975, p. 244

Idea , Optimism , Study , Future

“[In Germany] we have already experienced and passed through a vast variety of political systems and governments: constitutional monarchy, absolute monarchy, presidential democracy, popular democracy, dictatorship, and who knows what else. And we could all plainly see that neither of these systems was worth much. … There have never been so many qualified economists as in our days. Never has world economy been so sophisticated. Yet in spite of this, according to UN reports, more than one-half of humanity never eats its fill. … It isn't the Bible which is out-of-date, but our ideologies. The Bible guides us towards the future. … He knows how to govern. If you want proof of this, visit a home where Jesus is King - for such homes do exist even today - and you will be conscious of a different atmosphere as soon as you have crossed the doorstep.”

Wilhelm Busch (pastor) (1897–1966) German pastor and writer

When will the end come? 1.Jesus is coming back 2.Events preceding Christ's return p. 197 p. 200 p. 202
Jesus Our Destiny

World , Democracy , Home , Future

“The big thing that happened in the early to mid-90s was the last big discussion about political economy. Roughly speaking we went for endogenous growth, for flexible labour markets and the financial sector, and that was considered modern. The book that I wrote at that time was arguing that the German system – which had worker representation on boards, very strong vocational training, regional banks, very strong federal forms of democratic government – was actually better suited to globalisation because it preserved knowledge, trust, institutions, skills … Now, I think the results of our experiment are in and we really got it wrong.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Interview with Independent Labour, 11 November 2011 http://www.independentlabour.org.uk/main/2011/11/11/a-conversation-with-maurice-glasman-part-1/

Books , Knowledge , Thinking , Strong

“These differences in moral vision and map-making bred, In turn, conflicting institutional needs and social policies, within the constraints of an under-developed economy and society in terms of Western standards. Though both were ‘backward-looking’, the hierarchical and theocratic Byzantine ideal with its cultural affinity to Orthodox Tsarism, lent itself to a rural and patriarchal society whose political institutions would be subordinated to the religious controls of the clergy and their supporters among the notables; their suspicions of the West would be compensated by the eastward drive inherent in the Megali Idea and its dream of a restored Byzantine empire in Anatolia and the Aegean. Whereas the Hellenic vision”

Anthony D. Smith (1939–2016) British academic

Source: The Ethnic Origins of Nations (1987), p. 203.

Dreams , Idea , Support

“The capitalist cheapens their wages; they compete with and underbid each other, for employed they must be on any terms. This war of the rich with the poor and the poor with one another, is the morality which political economy inculcates.”

George Fitzhugh (1806–1881) American activist

Source: Sociology For The South: Or The Failure Of A Free Society (1854), pp. 22-23

War

“Does the functioning of the world economy tend to concentrate wealth and power, or does it tend to diffuse it?”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter One, Nature of Political Economy, p. 14

World , Wealth

“We have long supported a carbon tax as the best policy of those being considered. Replacing the hodge-podge of current, largely ineffective regulations with a revenue-neutral carbon tax would ensure a uniform and predictable cost of carbon across the economy. It would allow market forces to drive solutions. It would maximize transparency, reduce administrative complexity, promote global participation and easily adjust to future developments in our understanding of climate science as well as the policy consequences of these actions.”

Rex Tillerson (1952) 69th United States Secretary of State

"The Path Forward in Today’s Energy Environment," http://corporate.exxonmobil.com/en/company/news-and-updates/speeches/the-path-forward-in-todays-energy-environment a speech made as Chairman and CEO of ExxonMobil, at the 37th Annual Oil and Money Conference in London on (19 October 2016).

Understanding , Support , Science , Future

“The essential measure of the success of the economy is not production and consumption at all, but the nature, extent, quality, and complexity of the total capital stock, including in this the state of the human bodies and minds included in the system. In the spaceman economy, what we are primarily concerned with is stock maintenance, and any technological change which results in the maintenance of a given total stock with a lessened throughput (that is, less production and consumption) is clearly a gain. This idea that both production and consumption are bad things rather than good things is very strange to economists, who have been obsessed with tile income-flow concepts to the exclusion, almost, of capital-stock concepts.”

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

Source: 1960s, The Economics of the Coming Spaceship Earth, 1966, p. 9-10 as cited in: Mark W. W. McElroy, J.M.L. M. L. van van Engelen (2012) Corporate Sustainability Management.

Idea , Nature , Change , Success

“I suppose, at the smallest average, for the making of a single rich man, we make a thousand whose life-long is one flood-tide of misery. The charnel-houses of poverty are in the shadow of the palace; and as one is splendid, so is the other dark, poisonous, degraded. How can a man grow rich, except on the spoils of others' labour? His boasted prudence and economy, what is it but the most skilfully availing himself of their necessities, most resolutely closing up his heart against their cries to him for help?”

James Anthony Froude book The Nemesis of Faith

Letter VII
The Nemesis of Faith (1849)

Life , Help , Heart , Housing

“I know that some people in the U. S. associate the Nordic model with some sort of socialism… Therefore, I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy… The Nordic model is an expanded welfare state which provides a high level of security to its citizens, but it is also a successful market economy with much freedom to pursue your dreams and live your life as you wish.”

Lars Løkke Rasmussen (1964) Danish politician

"Nordic Solutions and Challenges: A Danish Perspective" http://www.vox.com/2015/10/31/9650030/denmark-prime-minister-bernie-sanders (October 2015), speech to Harvard's Kennedy School of Government.
2010s, 2015

Life , People , Dreams , Freedom

“The Methods of Industrial Management. — A committee of the American Society of Mechanical Engineers made an extensive canvass in the fall of 1912 to determine what were the new elements in modern management as well as what the committee designated as the regulative principles of industrial management. The committee confirmed Adam Smith's statement made in 1776 in his Wealth of Nations, in which he held that the application of the principle of division of labor was the basis of manufacture. The committee also agreed with Charles Babbage, who in his work entitled Economy of Machinery and Manufacture written in 1832, added another principle, namely the transference of skill.”

Hugo Diemer (1870–1937) American mechanical engineer

(1921, p. 10)
Factory organization and administration, 1910

Wealth

“The e-economy cannot function without workers able to navigate, both technically and in terms of content, this deep sea of information, organizing it, focusing it, and transforming it into specific knowledge, appropriate for the task and purpose of the work process.”

Manuel Castells (1942) Spanish sociologist (b.1942)

Source: The Internet Galaxy - Reflections on the Internet, Business, and Society (2001), Chapter 3, e-Business and the New Economy, p. 90

Knowledge , Sea

“You know that there’s been tremendous turmoil in our financial markets and Wall Street. And it is – it’s – people are frightened by these events. Our economy, I think, still, the fundamentals are – of our economy are strong, but these are very, very difficult times. And I promise you, we will never put America in this position again. We will clean up Wall Street. We will reform government.”

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

Speaking at Jacksonville, Florida the day after the collapse of Lehman Brothers and the sell-off of Merrill Lynch, 15 September 2007 http://news.mywebpal.com/partners/680/public/news925950.html http://www.nydailynews.com/blogs/dc/2008/09/economic-fundamentals-strong.html
2000s, 2008

People , Thinking , Strong , Time

“It has been said, and perhaps with truth, that the conclusions of Political Economy partake more of the certainty of the stricter sciences than those of most of the other branches of human knowledge.”

Thomas Robert Malthus Principles of Political Economy

Book I, Introduction, p. 1
Principles of Political Economy (Second Edition 1836)

Truth , Knowledge , Science

“We have to build an economy that works for everyone, not just those at the top. … How are we going to do it? We're going to do it by having the wealthy pay their fair share and close the corporate loopholes.”

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

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

“More than anything else technology creates our world. It creates our wealth, our economy, our very way of being.”

W. Brian Arthur (1946) American economist

Source: The Nature of Technology: What It Is and How It Evolves. (2009), p. 10

World , Way , Wealth

“My university education had been a shallow and superficial enterprise. The central driving forces of the economy I lived in were either ignored or left vague, to the point of meaningless.”

Herbert Schiller (1919–2000) American media critic

Introduction, One Life, One Century, p. 19
Living In The Number One Country (2000)

Education , Universe

“The size of General Motors is in the service not of monopoly or the economies of scale but of planning.”

John Kenneth Galbraith book The New Industrial State

Source: The New Industrial State (1967), Chapter VII, Section 2, p. 76

“This paper analyzes the relations between knowledge, control and organizational structure both in the market system as a whole and in private organizations. Limitations on the mental capacity of the human mind and the costs of producing and transferring knowledge means that knowledge relevant to all decisions can never be collected in the mind of a single individual or a small body of experts. This means that if the knowledge valuable to a particular decision is to be used in making that decision, there must be a system for partitioning out decision rights to individuals who already have the relevant knowledge and abilities or who can acquire or produce them at the lowest cost. Self interest on the part of individual decision-makers means a control system is required to motivate individuals with the decision rights and the relevant knowledge to use those decision rights appropriately. This control problem is solved in a capitalist economy by a system of alienable property rights.”

Michael Jensen (1939) American economist

Michael C. Jensen and William H. Meckling. "Specific and general knowledge and organizational structure." (1992).

Motivation , Knowledge , Problem , Decision

““What was the Depression?”
“Bad economic times in their pure capitalist nation-state,” Aenea said. “Remember, the economy wasn’t really global then, and it depended upon private money institutions called banks, gold reserves, and the value of physical money—actual coins and pieces of paper that were supposed to be worth something. It was all a consensual hallucination, of course, and in the 1930s, the hallucination turned nightmare.””

Dan Simmons book The Rise of Endymion

Source: The Rise of Endymion (1997), Chapter 2 (p. 34)

Money , Time , Dependency

“The economy was getting so bad, I had to lay myself off.”

Neil Young (1945) Canadian singer-songwriter

Old Ways
Song lyrics, Old Ways (1985)

“The Liberal Party doesn't seem to know in its mind what to do about it—its ostensible view is that the mix of the mixed economy must be left as it is. This seems to be a slightly doubtful proposition…We have to reduce the public sector, the state-run sector, and hand it over to other bodies. The economy is probably unmanageable so long as the state attempts to do so much. The Liberals have not given nearly enough thought to the question of the bureaucracy of the state, what is suitable for the state to run…I personally agree with the SDP line, not with that of the Liberal unilateralists. I want to remain in NATO and I believe that a deterrent is essential and it promotes peace…I would not support unilateral disarmament either on moral or practical grounds.”

Jo Grimond (1913–1993) British soldier, politician and academic

In the Alliance magazine (December/January 1982–3).

Peace , Question , Support , Personality

“After the end of the year election and the set up of the second National Economic Development Advisory Conference, I shall start to improve the economy.”

Chen Shui-bian (1950) Taiwanese politician

November 1, 2005
Pet Phrases, 2005

“I want to mention the British Government's attitude to poorer countries in relation to 1992 and the EEC. There was a delegation here recently led by Mr. Julian Hunte from St. Lucia concerning the implications of the Single European Act for the survival of the Windward Islands. There is a problem because of the likelihood of the closure of markets for bananas and some of the smaller eastern Caribbean countries and the low price that the producers receive for them. It is necessary for the British Government to do something to protect the markets that those islands have traditionally enjoyed. If not, they will become seriously impoverished and further indebted. They will lose out because of Britain's obsession with moving deeper into the Common Market and accepting the Common Market's single economy rather than protecting those who have traditionally supplied goods to this country.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1989/mar/17/overseas-development in the House of Commons (17 March 1989).
1980s

Problem , Country

“Efficiency is not the issue when you go solar. There is so much solar that all you have to do is invest in the non-recurring cost of more dishes to drive a solar-hydrogen economy at whatever efficiency it happens to sit at.”

Derek Abbott (1960) Physicist, engineer

On energy supply and solar power

“I think that that has to be related to the problems within our own country. I was reading in the papers today that there's a grave concern about what our role should be, how it should be handled, and how we should better manage our own domestic economy. And I think that this is becoming a serious issue. And it's gonna have to be addressed by any politicians who wish to be re-elected. They have to see that the issue of our economy and what influences it is better understood and more successfully addressed.”

David Rockefeller (1915–2017) American banker and philanthropist

When asked about the worsening condition of the American economy and currency in an interview with Benjamin Fulford (13 November 2007) http://video.google.com/videoplay?docid=-3704527408635856046

Problem , Thinking , Reading , Country

“The essential feature of a capitalist world-economy… is production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.”

Immanuel Wallerstein (1930–2019) economic historian

Wallerstein (1979) The Capitalist World-Economy. p. 15.

Men , World , Way

“…faced with a choice between an agreement that is to the advantage of the peoples of Europe and one that bolsters their own power within the EU institutions at the expense of Europe’s social economies, the Brussels establishment, and the powerful politicians behind them, will choose the latter every time.”

Yanis Varoufakis (1961) Greek-Australian political economist and author, Greek finance minister

People , Time

Quotes about economy page 4

Quotes about economy
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