Quotes about economy
page 5

“…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

“The fact is that I spent twenty-five years in the private sector. And that obviously teaches you something that you don't learn if you haven't spent any time in the private sector. If you were to say to me, tell me what you learned from your schooling that would help you be a President, it's like, well, how do I begin going through a list like that? You learn through life's experience. The President's experience has been exclusively in politics and as a community organizer. Both of those are fine areas of endeavor. But right now we have an economy in trouble, and someone who spent their career in the economy is more suited to help fix the economy than someone who spent his life in politics and as a community organizer.”

Mitt Romney (1947) American businessman and politician

2012-05-23
http://thepage.time.com/2012/05/23/the-complete-romney-interview-transcript/
The Complete Romney Interview Transcript
TIME
2012

Life, School, Communication, Learning

“Only in more production and in new production can the American standard of living be increased and the economy be sound.”

Alfred P. Sloan (1875–1966) American businessman

Alfred P. Sloan, quoted in: Forbes, Forbes Incorporated, (1959), p. 54

“In the preface to the reissue of Risk, Uncertainty and Proﬁt, Frank Knight makes the penetrating observation that under the conditions envisaged above the velocity of circulation would become inﬁnite and so would the price level. This is perhaps an over-dramatic way of saying that nobody would hold money, and it would become a free good to go into the category of shell and other things which once served as money. We should expect too that it would not only pass out of circulation, but it would cease to be used as a conventional numeraire in terms of which prices are expressed. Interest bearing money would emerge. Of course, the above does not happen in real life, precisely because uncertainty, contingency needs, non-synchronization of revenues and outlay, transaction frictions, etc., etc., all are with us. But the abstract special case analyzed above should warn us against the facile assumption that the average levels of the structure of interest rates are determined solely or primarily by these differential factors. At times they are primary, and at other times, such as the twenties in this country, they may not be. As a generalization I should hazard the hypothesis that they are likely to be of great importance in an economy in which there is a “quasi-zero" rate of interest. I think by this hypothesis one can explain many of the anomalies of the United States money market in the thirties.”

Paul A. Samuelson book Foundations of Economic Analysis

Source: 1940s, Foundations of Economic Analysis, 1947, Ch. 5 : Theory of Consumer’s Behavior

Life, Money, Way, Thinking

“The economy is a nonlinear fractal system, where the smallest scales are linked to the largest, and the decisions of the central bank are affected by the gut instincts of the people on the street.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 7, Straight Versus Crooked, p. 229

People, Decision

“In recent weeks, we have taken bold steps to prevent a severe disruption of the American economy, which would have a devastating effect on other economies around the world. We've promoted stability in the markets by preventing the disorderly failure of major companies. The Federal Reserve has injected urgently needed liquidity into the system. And last week, I announced a decisive action by the federal government to address the root cause of much of the instability in our financial markets, by purchasing illiquid assets that are weighing down balance sheets and restricting the flow of credit. I can assure you that my administration and our Congress are working together to quickly pass legislation approving this strategy, and I'm confident we will act in the urgent time frame required.”

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

2000s, 2008, Address to the United Nations General Assembly (September 2008)

World, Confidence, Failure, Decision

“Companies are in the midst of a revolutionary transformation. Industrial age competition is shifting to information age competition. During the industrial age, from 1850 to about 1975, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology mattered, but, ultimately, success accrued to companies that could embed the new technology into physical assets that offered efficient, mass production of standard products.
During the industrial age, financial control systems were developed in companies, such as General Motors, DuPont, Matsushita, and General Electric, to facilitate and monitor efficient allocations of financial and physical capital. A summary financial measure such as return-on-capital employed (ROCE) could both direct a company’s internal capital to its most productive use and monitor the efficiency by which operating divisions used financial and physical capital to create value for shareholders.
The emergence of the information era, however, in the last decades of the twentieth century, made obsolete many of the fundamental assumptions of industrial age competition. No longer could companies gain sustainable competitive advantage by merely deploying new technology into physical assets rapidly, and by excellent management of financial assets and liabilities.”

David P. Norton (1941) American business theorist, business executive and management consultant

Source: The Balanced Scorecard, 1996, p. 2-3

Age, Success

“In the contemporary economy, however, and with the labor relations of post-Fordism, mobility increasingly defines the labor market as a whole, and all categories are tending toward the condition of mobility and cultural mixture common to the migrant. **133”

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

Multitude: War and Democracy in the Age of Empire

“Pro-slavery impulse still governs the Democratic Party, the party of government sinecures. It is the party that wants to use political power to tax us not for any common good, but to eat while we work. Consider the Great Society and its legacy. In the fall of 1964, I was on the speech-writing staff of the Goldwater campaign. In September and October I went on a number of forays to college campuses, where I debated spokesmen for our opponents. My argument always started from here. In 1964 the economy, thanks to the Kennedy tax cuts, was growing at the remarkable annual rate of four percent. But federal revenues were growing at 20 percent; five times as fast. The real issue in the election, I said, was what was to happen to that cornucopia of revenue. Barry Goldwater would use it to reduce the deficit and to further reduce taxes; Lyndon Johnson would use it to start vast new federal programs. At that point I could not say what programs, but I knew that the real purpose of them would be to create a new class of dependents upon the Democratic Party. The ink was hardly dry on the election returns before Johnson invented the war on poverty; and proved my prediction correct. One did not need to be cynical to see that the poor were not a reason for the expansion of bureaucracy; the expansion of bureaucracy was a reason for the poor. Every failure to reduce poverty was always represented as another reason to increase expenditures on the poor. The ultimate beneficiary was the Democratic Party. Every federal bureaucrat became in effect a precinct captain, delivering the votes of his constituents. His job was to enlarge the pool of constituents. But every increase in that pool meant a diminution of our property and our freedom.”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

1990s, The Party of Lincoln vs. The Party of Bureaucrats (1996)

War, Failure, Freedom, Time

“We have not done the things that are necessary to lower emissions because those things fundamentally conflict with deregulated capitalism. … We are stuck because the actions that would give us the best chance of averting catastrophe—and would benefit the vast majority—are extremely threatening to an elite minority that has a stranglehold over our economy, our political process, and most of our major media outlets. … It is our great collective misfortune that the scientific community made its decisive diagnosis of the climate threat at the precise moment when those elites were enjoying more unfettered political, cultural, and intellectual power than at any point since the 1920s.”

Naomi Klein book This Changes Everything

This Changes Everything: Capitalism vs. the Climate (2014), p. 18
This Changes Everything

Communication, Decision, Chance

“Mattei pushed hard for a line of detachment, of critical participation in NATO and even of getting out of NATO and into a neutralist position. Mattei therefore not only annoyed the United States with his oil deals in the Middle East, which broke up the balance of the international oil cartel, and broke up the price equilibrium, but it was Mattei who pushed even harder for Italy's entire policy to take its distance from the United States and to open up toward the Third World countries, which were traveling in a certain way along a road similar to the painful and laborious road which Italy had had to travel. Mattei was very sensitive to these problems, because he had been a witness to this difficult road of Italy's and had had great difficulties at the beginning of his career. So he knew what it meant for a country to free itself from the colonial yoke and find its own way, its own balance, and a way of arranging its own economy which would not be an economy of pure exploitation by the great powers”

Nico Perrone (1935) Italian historian and writer

Source: The Strategic Stakes in Mattei's Flight, p. 23

Pain, World, Way, Travel

“If Americans are the most efficient workers on earth and work longer hours than almost any other advanced nation, why are we getting our clocks cleaned? Answer: While American workers are world-class, our elites are mentally challenged. So rhapsodic are they about the Global Economy they have forgotten their own country. Europeans, Japanese, Canadians and Chinese sell us so much more than they buy from us because they have rigged the rules of world trade.”

Patrick Buchanan (1938) American politician and commentator

"How to Bring Manufacturing Back Home" http://buchanan.org/blog/pjb-how-to-bring-manufacturing-back-home-109 (September 29, 2006), Patrick J. Buchanan 2000s

World, Country

“Liberty once again must become more important to us than the desire for security and material comfort. Personal safety and economic prosperity can only come as the consequence of liberty. They cannot be provided by an authoritarian government… The foundation for a police state has been put in place, and it's urgent we mobilize resistance before it's too late… Central planning is intellectually bankrupt – and it has bankrupted our country and undermined our moral principles. Respect for individual liberty and dignity is the only answer to government force, force that serves the politically and economically powerful. Our planners and rulers are not geniuses, but rather demagogues and would-be dictators -- always performing their tasks with a cover of humanitarian rhetoric… The collapse of the Soviet system came swiftly and dramatically, without a bloody conflict… It came as no surprise, however, to the devotees of freedom who have understood for decades that socialism was doomed to fail… And so too will the welfare/warfare state fail… A free society is based on the key principle that the government, the president, the Congress, the courts, and the bureaucrats are incapable of knowing what is best for each and every one of us… A government as a referee is proper, but a government that uses arbitrary force to direct every aspect of society threatens freedom… The time has come for a modern approach to achieving those values that all civilized societies seek. Only in a free society do individuals have the best chance to seek virtue, strive for excellence, improve their economic well-being, and achieve personal happiness… The worthy goals of civilization can only be achieved by freedom loving individuals. When government uses force, liberty is sacrificed and the goals are lost. It is freedom that is the source of all creative energy. If I am to be your president, these are the goals I would seek. I reject the notion that we need a president to run our lives, plan the economy, or police the world… It is much more important to protect individual liberty and privacy than to make government even more secretive and powerful.”

Ron Paul (1935) American politician and physician

Video Address Announcing 2008 Presidential Exploratory Committee, February 19, 2007 http://blog.4president.org/2008/2007/02/ron_paul_video_.html http://www.youtube.com/watch?v=FPlPT4bncq8 2000s, 2006-2009

Love, Happiness, Secret, World

“Microeconomics and macroeconomics are closely intertwined. Because changes in the overall economy arise from the decisions of millions of individuals, it is impossible to understand macroeconomic developments without considering the associated microeconomic decisions.”

N. Gregory Mankiw (1958) American economist

Source: Principles of Economics (1998-), Ch. 2. Thinking Like an Economist; p. 27

Understanding, Decision, Change

“People vote because they want a job and want the economy expand. Whether it’s energy infrastructure or whether it’s the port or whether it’s ‘I’m willing to work with this president.’ I’m proud. I’m willing to stand up for this president and I’m willing to say ‘I will work with this administration on any single issue that helps Virginia.’ That’s where Ed Gillespie is. That’s where I am. That’s where John Adams is. And guess what? People go: ‘Yeah, I want that for my state. I don’t want that position where the other side is which is nothing.’ So I think that has resonated, and I think it’s working in Virginia and that’s why President Trump got elected—it’s because people are sick and tired of this politics of no.”

Jill Vogel (1970) American politician

GOP Lieutenant Governor Nominee Jill Vogel: Election ‘Beyond Critical,’ Americans ‘Playing for All the Marbles In Virginia’ http://www.breitbart.com/big-government/2017/10/19/exclusive-gop-lieutenant-governor-nominee-jill-vogel-election-beyond-critical-americans-playing-for-all-the-marbles-in-virginia/ (October 19, 2017)

People, Thinking, Help

“The greatest thing to come out of this [the war in Iraq] for the world economy, if you could put it that way, would be $20 a barrel for oil. That's bigger than any tax cut in any country.”

Rupert Murdoch (1931) Australian-American media mogul

Source: Murdoch praises Blair's 'courage' http://www.guardian.co.uk/politics/2003/feb/12/uk.iraqandthemedia

War, World, Way, Country

“Taipei is not only the nation's capital, but also the engine of its economy. Yet, in the past few years the city's economy has shrunk and has been surpassed by New Taipei City.”

Pasuya Yao (1965) Taiwanese politician

Pasuya Yao (2017) cited in " Pasuya Yao throws hat in mayoral ring http://www.taipeitimes.com/News/taiwan/archives/2017/07/24/2003675199" on Taipei Times, 24 July 2017

Past

“The science of political economy is essentially practical, and applicable to the common business of human life. There are few branches of human knowledge where false views may do more harm, or just views more good.”

Thomas Robert Malthus Principles of Political Economy

Book I, Introduction, p. 9
Principles of Political Economy (Second Edition 1836)

Life, Business, Knowledge, Science

“Gaelic language and culture is inseparable from the future success of the Scottish economy.”

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

Sabhal Mòr Ostaig Lecture (December 19, 2007)

Success, Future

“I believe that monetary policy has a chronic defect. It is asymmetric—it works better in restraining an economy than in stimulating an economy.”

Lawrence Klein (1920–2013) American economist

"Keynsianism Again: Interview with Lawrence Klein", Challenge (May-June 2001)

“What we have seen is that while the average person is working longer hours for lower wages, we have seen a huge increase in income and wealth inequality, which is now reaching obscene levels. This is a rigged economy, which works for the rich and the powerful, and is not working for ordinary Americans … You know, this country just does not belong to a handful of billionaires.”

Bernie Sanders (1941) American politician, senator for Vermont

[Staff, Bernie Sanders confirms presidential run and damns America's inequities, http://www.theguardian.com/us-news/2015/apr/30/bernie-sanders-confirms-presidential-run-and-damns-americas-inequities, 29 April 2015, the Guardian, 2 May 2015]
2010s, 2015

Personality, Country, Wealth

“In my view—and that of most contemporary economists, I believe—Schumpeter’s most original and most lastingly significant book was Theory of Economic Development, which appeared in 1911 (and was translated into English in 1934). It was at the University of Czernowitz, not far from the beginning of his career as an economist, that he worked out his conception of the entrepreneur, the maker of “new combinations,” as the driving force and characteristic figure of the fits-and-starts evolution of the capitalist economy. He was explicit that, while technological innovation was in the long run the most important function of the entrepreneur, organizational innovation in governance, finance, and management was comparable in significance.”

Robert Solow (1924) American economist

"Heavy Thinker" (2007)

Books, Universe, Appearance

“It would be more realistic to think of all economic enterprise as a public service. Thought of in this perspective, a private economy is a contradiction in terms. Every economy is a public or social (not socialist) economy.”

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

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

Thinking

“Today the poor are less often dismissed, I hope, from our consciences by being branded as inferior or incompetent. We also know that no matter how dynamically the economy develops and expands, it does not eliminate all poverty.
The problem indicates that our emphasis must be twofold. We must create full employment or we must create incomes. People must be made consumers by one method or the other. Once they are placed in this position we need to be concerned that the potential of the individual is not wasted. New forms of work that enhance the social good will have to be devised for those for whom traditional jobs are not available.”

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

1960s, Where Do We Go from Here: Chaos or Community? (1967)

People, Hope, Problem

“At the center of market fundamentalism lies the general acceptance of the Walrasian general equilibrium model, or the neo-classical paradigm. Although many economists came to doubt the universal validity of such models in view of economies of scope, bounded rationality, asymmetric information, and other types of market imperfections and ventured into institutional analysis, the orthodoxy still remains the one which postulate some type of rationality of atomized individuals and the market which mediate among these atomized individuals and firms to reach some stable equilibrium.”

Eisuke Sakakibara (1941) Japanese economist and critic

The End of Market Fundamentalism (1999)

Universe

“The [Labour] moderates split off and that split of the moderates delayed the realignment of British politics for at least one generation and possibly two, because as a conservative passionately believing in freedom under the law and believing that socialism cannot stand for that, the realignment - you hear me say my job is to stay in long enough so that everyone knows that socialism and the British character do not mix, so socialism has got to go - is to get the fundamental realignment which I think is in keeping with the British character, which is two parties, a free enterprise party, because if you have political freedom under the rule of law you have got to have economic freedom as well. It is to bring about that can only be done really by eventually the Labour Party splitting off the Left and rejecting the Clause 4 and the command economy, and then we really should get a realignment.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Interview for The Standard (13 March 1987) http://www.margaretthatcher.org/document/106595 Second term as Prime Minister

Law, Thinking, Freedom, Passion

“Here's the story: There's a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis. And because somebody hurt their feelings they decide to punish the country. I mean, I would not have imputed that degree of pettiness and hypersensitivity […] But think about this: Somebody hurt my feelings so I will punish the country. I mean, that's hardly plausible. And there are 12 Republican members who were ready to stand up for the economic interests of America but not if anybody insulted them. I'll make an offer: Give me those 12 people's names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are and maybe they'll now think about the country.”

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

Speaking of the defeat of a financial bailout plan in the House
[Foon, Rhee, http://www.boston.com/news/politics/politicalintelligence/2008/09/frank_mocks_gop.html, Frank mocks GOP complaint on bailout, The Boston Globe, September 29, 2008, 2008-11-20]

People, Feeling, Thinking, Hurt

“[The Conservatives' Industry Act contains] the most comprehensive armoury of government control that has ever been assembled for use over private industry, far exceeding all the powers thought necessary by the last Labour government…Heath has performed a very important historical role in preparing for the fundamental and irreversible transfer in the balance of power and wealth which has to take place…The whole nature of the mixed economy operating on market forces has been transformed by this quiet revolution in a way that is not yet fully appreciated.”

Tony Benn (1925–2014) British Labour Party politician

'Heath's spadework for socialism', The Sunday Times (25 March 1973), p. 61
1970s

Way, Nature, Wealth

“There are different views about what's good for our country, our economy, and our leadership in the world. And I think it's important to look at what we need to do to get the economy going again.”

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

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

World, Thinking, Country

“We live, and move, and have our being in a consumer cosmos. The global economy and interconnection of markets and resources means every time we eat a meal, listen to music, put on clothing, or read a book, we are being consumers.”

Skye Jethani

The Divine Commodity: Discovering A Faith Beyond Consumer Christianity (2009, Zondervan)

Books, Music, Time, Reading

“The opposing tendencies of concentration and spread are of little consequence in the liberal model of political economy.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Three, Dynamics Of Political Economy, p. 94

“I was born in the richest, most technologically advanced (and consequently the most powerful) country in the world. We were the leaders in science, so of course we had a better economy, and we had a higher standard of living than anyone else at that time. The rest of the globe sent their best and brightest to enroll in our schools because our students were among the most inventive, innovative and involved. Some of the greatest American scientists were the immigrants who stayed and enabled the United States to achieve more than anyone else had in the history of mankind. That's when our secular government still cared about better education. Sadly, that is not the country I still live in. America was number one, but saying that now reminds me of Aesop's fable where the hare is still resting on its laurels long after the tortoise has passed. In the fifty years since I was born, America's rating in science has fallen from number one to number thirty-seven. We have one of the lowest science scores of all countries in the developed world (or first world). Foreign scholars and foreign scientists don't stay here long after graduation (if they come at all), because what sort of environment do we offer intellectuals now? Our own scientists, our own graduate scholars are leaving as well, moving to Europe or Asia where they're more welcome, although an American going abroad now means that he will have to try to live down new stereotype instead of living up to the old one.”

Aron Ra (1962) Aron Ra is an atheist activist and the host of the Ra-Men Podcast

Youtube, Other, Don't Blame the Atheists https://www.youtube.com/watch?v=_0Ca88xNw_w (October 21, 2012)

World, Education, School, History

“I talk about going to his Inauguration and crying when he took the oath, 'cause I was so afraid he was going to "wreck the economy and muck up the drinking water"… the failure of my pessimistic imagination at that moment boggles my mind now.”

Sarah Vowell (1969) American author, journalist, essayist and social commentator

Referring to George W. Bush on The Daily Show with Jon Stewart http://www.cc.com/video-clips/e88k08/the-daily-show-with-jon-stewart-sarah-vowell (2006-02-21)

Imagination, Failure, Drink, Water

“The whole point of the military-first policy was not so much to whip up support for the military as to de-ideologize the economic sector, to make it possible to dismantle the command economy without dismantling the authority of the whole system.”

Brian Reynolds Myers (1963) American professor of international studies

2010s, Interview with Joshua Stanton (August 2017)

Support

“So let's start telling the truth: competitiveness is a meaningless word when applied to national economies. And the obsession with competitiveness is both wrong and dangerous.”

Paul Krugman (1953) American economist

Pop Internationalism (1996), Competitiveness: A Dangerous Obsession (1994)

Truth

“If due to environment businesses flop then we don’t look at religion involved in it right? We worry about environment; similarly we have to look at the rural economy. So country’s problem is not Modi but a "stagnated perverted mindset". They want to take every issue to that one [communalised] corner.”

Narendra Modi (1950) Prime Minister of India

Source: 2014, "GhoshanaPatra with Narendra Modi", 2014

Religion, Business, Problem, Country

“Well it seems to me absolutely scandalous to try to set wage levels which wipe out jobs. I mean these are people who are not on the dole. They want to work and if you price them out of the market its gonna be a lot worse for them and for the economy.”

Irwin Stelzer (1932) American economist and columnist

Newsnight debate (2010)

People

“I think that this is Schumpeter’s main legacy to economics: the role of technological and organizational innovation in driving and shaping the growth trajectory of capitalist economies.”

Robert Solow (1924) American economist

"Heavy Thinker" (2007)

Thinking

“A form of influence such as advertising sets out intentionally to insulate reactors (mindless consumers) from the more conscious and critical selves (potential abstainers) not by multiplying alternatives (as laisser-faire advocates of the market economy would like to believe) but by provoking dormant and partial desires in a way that circumvents the normal, conscious, rational process.”

Benjamin R. Barber (1939–2017) US political scientist

Source: Forced to be Free (1971), p. 69-70

Way

“The unity of the Middle Ages as a historical period is quite artificial. In reality they fall into three entirely distinct cultural periods—the natural economy of the early Middle Ages; the courtly chivalry of the high Middle Ages; and the urban bourgeois culture of the late Middle Ages. At any rate, the divisions between these three epochs go deeper than those which mark the beginning and the end of the Middle Ages as a whole.”

Arnold Hauser (1892–1978) Hungarian art historian

The Social History of Art, Volume I. From Prehistoric Times to the Middle Ages, 1999, Chapter IV. The Middle Ages

Age, Nature, Reality

“It's our (Council of Labor Affairs) responsibility to take care of financially disadvantaged families. We've seen a better economy and we know there must be changes.”

Wang Ju-hsuan (1961) Taiwanese politician

Wang Ju-hsuan (2011) cited in " Minimum wage to be increased by five percent http://www.chinapost.com.tw/taiwan/national/national-news/2011/07/22/310668/Minimum-wage.htm" on The China Post, 22 July 2011.

Family, Change

“Prose may carry a load of ill-defined matters like a ship. But poetry is the machine which drives it, pruned to a perfect economy.”

William Carlos Williams (1883–1963) American poet

Introduction
The Wedge (1944)

Perfection

“Service is the currency that keeps our economy moving. I serve you in one business, you serve me in another. When either of us improves, the economy gets a little better. When both of us improve, people are sure to take notice. When everyone improves, the whole world grows stronger and closer together.”

Ron Kaufman (1956) American author and consultant

Lift Me UP! Service With A Smile (2005)

People, World, Business

“The claim "I deserve my income," as applied to an individual's pretax income in free market economies, has considerable intuitive force. If true, it suggests a powerful moral claim against taxation for redistributive purposes, on the intuitively plausible supposition that a just economic order ought to ensure that people get what they morally deserve.
But, however intuitive these claims may be, they are unjustified. In two of his important works of political economy, The Constitution of Liberty (see esp. ch. 6), and Law, Legislation, and Liberty (vol. 2), Hayek explained why free market prices cannot, and should not, track claims of individual moral desert.”

Elizabeth S. Anderson (1959) professor of philosophy and womens' studies

How Not to Complain About Taxes (III): "I deserve my pretax income" http://left2right.typepad.com/main/2005/01/how_not_to_comp_1.html (January 26, 2005)

People, Law

“We’re now in the seventh year of a slump brought on by Wall Street excess; the wizardly job of “allocating the economy’s investment resources” consisted, we now know, largely of funneling money into a real estate bubble.”

Paul Krugman (1953) American economist

"Iron Men of Wall Street" http://krugman.blogs.nytimes.com/2014/02/16/iron-men-of-wall-street/, 16 February 2014 The Conscience of a Liberal blog

Money

“In 1934, Mussolini reiterated that capitalism, as an economic system, was no longer viable. Fascist economy was to be based not on individual profit but on collective interest.”

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

Source: The Ideology of Fascism: The Rationale of Totalitarianism, (1969), p. 299

“It would be, however, a fatal mistake to establish an expensive system of education on the model of the advanced countries which would have little relevance to local needs and would be beyond the means of the national economy. It is necessary to evolve a system, through experimentation and trial and success, which would be within the means of the national economy.”

Prasanta Chandra Mahalanobis (1893–1972) Indian scientist

Quote, Prasanta Chandra Mahalanobis in Vigyanprasar

Education, Success, Country

“I would like to use this opportunity to emphasise again the determination of the government to work with the private sectors to improve the economy.”

Chen Shui-bian (1950) Taiwanese politician

During the opening of Longan Season in Nantau, August 30, 2003
Pet Phrases, 2003

“President Obama says that conservatives hate women, that there’s a war on women, and that the only thing that women care about is birth control. Oh, Mr. President bless your heart. Which man in your administration came up with that one? Women aren’t a cheap date. Women want a little more out of life than contraceptives. Just the other day I got a call from a friend back home. She’s 64-years-old. She told me her insurance company contacted her to say that under Obamacare they would pay for contraceptives but not for her blood pressure medication. She told them to put it in writing so she could share it with her congressman. What women want is not free contraceptives. We want opportunity. We want all the potential of the American economy unlocked for us. We want the government to stay out of our way … stay out of our wallets… and stay out of our emails. We want to have choice. Not the type of choice that men in the Democratic Party talk about, but real choice.”

Marsha Blackburn (1952) American politician

Remarks To Freedom Summit, Manchester NH https://www.redstate.com/diary/marshablackburn/2014/04/12/remarks-freedom-summit-manchester-nh/ (April 12, 2014)

Life, Women, Men, Hate

“Regional Banks that are constrained to lend within a particular area are a necessary part of the institutional ecology in that they resist the centralising power of capital, allow a more stable access to credit for regional and smaller businesses and encourage relationships and reciprocity to constrain the demand for higher rates of return that have decimated the mutual bank sector in Britain. They also offer an alternative to usurious lending, one of the great growth areas in our economy. Any serious reflection on ‘employment policies’ must confront the centralisation of capital and the state and seek to constrain both through the endowment of decentralised regional and sectoral institutions that constrain centralisation and preserve and renew traditions of virtue within the economy through resisting the commodification of human beings, nature and knowledge demanded by the maximum return on investment. It allows initiative and enterprise to be oriented towards the future.”

Maurice Glasman, Baron Glasman (1961) British philosopher

The Politics of Employment, 23 May 2013 http://togetherforthecommongood.co.uk/viewpoints/opinion-pieces/articles/maurice-glasman.html

Business, Nature, Knowledge, Future

“Our federal government, which was intended to operate as a very limited constitutional republic, has instead become a virtually socialist leviathan that redistributes trillions of dollars. We can hardly be surprised when countless special interests fight for the money. The only true solution to the campaign money problem is a return to a proper constitutional government that does not control the economy. Big government and big campaign money go hand-in-hand.”

Ron Paul (1935) American politician and physician

Why Is There So Much Money in Politics? http://www.house.gov/paul/tst/tst2002/tst020402.htm (February 4, 2002). 2000s, 2001-2005

Money, Problem, Fight

“I wanted to play it with an economy of words and create this whole feeling through attitude and movement. It was just the kind of character I had envisioned for a long time, keep to the mystery and allude to what happened in the past. It came about after the frustration of doing Rawhide for so long. I felt the less he said the stronger he became and the more he grew in the imagination of the audience.”

Clint Eastwood (1930) actor and director from the United States

On playing the Man With No Name character
Source: Clint: The Life and Legend (1999), p. 133.

Feeling, Imagination, Time, Past

“For starters, the emerging zero marginal cost economy radically changes our notion of the economic process. The old paradigm of owners and workers, and of sellers and consumers, is beginning to break down. Consumers are becoming their own producers, eliminating the distinction. prosumers will increasingly be able to produce, consume, and share their own goods and services with one another on the Collaborative Commons at diminishing marginal costs approaching zero, bringing to the fore new ways of organizing economic life beyond the traditional capitalist market model.”

Jeremy Rifkin (1945) American economist

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

Life, Way, Change

“The landlord, qua landlord, performs no function in the economy of industry or of food production. He is a rent receiver; that, and nothing more. Were the landlord to be abolished, the soil and the people who till it would still remain, and the disappearance of the landowner would pass almost unnoticed. So too with the capitalist.”

Keir Hardie (1856–1915) Scottish socialist and labour leader

Source: From Serfdom to Socialism (1907), p. 11

People, Food

“The outcome [of the Nazi economy] was a command economy, governed by military priorities, but run by a coalition of state officials, soldiers, party hacks and industrial technocrats.”

Richard Overy (1947) British historian

Source: War and Economy in the Third Reich (1994), p. 17

“The economics of Italian Fascism is often ignored or trivialized because so much of it is found in today's world economies.”

L. K. Samuels (1951) American writer

“The Socialist Economics of Italian Fascism,” Library of Economics and Liberty, July 6, 2015 http://www.econlib.org/library/Columns/y2015/Samuelsfascism.html

World

“Conventional economic theory is built is built on the assumption of diminishing returns. Economic actions engender a negative feedback that leads to a predictable equilibrium for prices and market shares. Such feedback tends to stabilize the economy because any major changes will be offset by the very reactions they generate. The high oil prices of the 1970s encouraged energy conservation and increased oil exploration, precipitating a predictable drop in prices by the early 1980s. According to conventional theory, the equilibrium marks the “best” outcome possible under the circumstances: the most efﬁcient use and allocation of resources.”

W. Brian Arthur (1946) American economist

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

Change

“The cumulative development of a medium of exchange on the free market — is the only way money can become established. … government is powerless to create money for the economy; it can only be developed by the processes of the free market.”

Murray N. Rothbard book What Has Government Done to Our Money?

What Has Government Done to Our Money? (1980)

Money, Way

“As the city continues to grow, the costs of congestion – to our health, to our environment, and to our economy – are only going to get worse. The question is not whether we want to pay but how do we want to pay. With an increased asthma rate? With more greenhouse gases? Wasted time? Lost business? And higher prices? Or, do we charge a modest fee to encourage more people to take mass transit?”

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

http://mikebloomberg.com/en/issues/environment_sustainability/mayor_michael_bloomberg_delivers_planyc_a_greener_greater_new_york
Environment

People, Health, Question, Business

“By The middle of The 1920s General Motors had accomplished some things, but apart from survival and reorganization, they were more in the realm of the mind than of reality. We knew, as I have related, the strategy with which we proposed to approach the car business, how we proposed to manage the enterprise financially, and the relationships we wanted to establish among persons in different roles. But by the end of 1924 little of this was reﬂected in Our activities in the automobile market. That our volume of business had increased after the slump of 1921 — and especially in 1923 — could be attributed less to our own wits than to the improvement in the general economy and the rising demand for automobiles. While internally we had made much progress, externally we had marked time. But the time had come to act.”

Alfred P. Sloan (1875–1966) American businessman

Source: My Years with General Motors, 1963, p. 149

Cars, Business, Reality, Time

“The inductive-reasoning system I have described above consists of a multitude of “elements” in the form of belief-models or hypotheses that adapt to the aggregate environment they jointly create. Thus it qualifies as an adaptive complex system. After some initial learning time, the hypotheses or mental models in use are mutually co-adapted. Thus we can think of a consistent set of mental models as a set of hypotheses that work well with each other under some criterion—that have a high degree of mutual adaptedness. Sometimes there is a unique such set, it corresponds to a standard rational expectations equilibrium, and beliefs gravitate into it. More often there is a high, possibly very high, multiplicity of such sets. In this case we might expect inductive reasoning systems in the economy—whether in stock-market speculating, in negotiating, in poker games, in oligopoly pricing, in positioning products in the market—to cycle through or temporarily lock into psychological patterns that may be non-recurrent, path-dependent, and increasingly complicated. The possibilities are rich.”

W. Brian Arthur (1946) American economist

Source: Inductive Reasoning and Bounded Rationality (The El Farol Problem) (1994), p. 8

Game, Thinking, Learning, Time

“Canada is a great country, one of the hopes of the world. We can be a better one – a country of greater equality, justice, and opportunity. We can build a prosperous economy and a society that shares its benefits more fairly. We can look after our seniors. We can offer better futures for our children. We can do our part to save the world’s environment. We can restore our good name in the world. We can do all of these things because we finally have a party system at the national level where there are real choices; where your vote matters; where working for change can actually bring about change. In the months and years to come, New Democrats will put a compelling new alternative to you. My colleagues in our party are an impressive, committed team. Give them a careful hearing; consider the alternatives; and consider that we can be a better, fairer, more equal country by working together. Don’t let them tell you it can’t be done.”

Jack Layton (1950–2011) Leader of the New Democratic Party of Canada

"A letter to Canadians from the Honourable Jack Layton." https://pdf.yt/d/RKyhnDdu-DXG3J6s 20 August 2011. Released upon his death.

Children, World, Justice, Hope

“Germany is our second biggest trade partner after China, but some time ago it was first. China is developing rapidly and has already become the world's largest economy in terms of purchasing power parity. At any rate, as you know, on 8 October China was recognised as such, but naturally the US economy is much bigger overall for the time being.”

Dmitry Medvedev (1965) Russian Prime Minister and former president

cnbc.com http://www.cnbc.com/id/102088768

World, Nature, Time

“A dangerous tendency has shown itself of late among many of our personnel -- an unwillingness to share weal and woe with the masses, a concern for personal fame and gain. This is very bad. One way of overcoming it is to streamline our organizations in the course of our campaign to increase production and practice economy, and to transfer cadres to lower levels so that a considerable number will return to productive work. We must see to it that all our cadres and all our people constantly bear in mind that ours is a large socialist country but an economically backward and poor one, and that this is a very big contradiction. To make China prosperous and strong needs several decades of hard struggle, which means, among other things, pursuing the policy of building up our country through diligence and thrift, that is, practicing strict economy and fighting waste.”

Mao Zedong (1893–1976) Chairman of the Central Committee of the Communist Party of China

On the Correct Handling of Contradictions Among the People
Original: (zh-CN) 在我们的许多工作人员中间，现在滋长着一种不愿意和群众同甘苦，喜欢计较个人名利的危险倾向，这是很不好的。我们在增产节约运动中要求精简机关，下放干部，使相当大的一批干部回到生产中去，就是克服这种危险倾向的一个方法。要使全体干部和全体人民经常想到我国是一个社会主义的大国，但又是一个经济落后的穷国，这是一个很大的矛盾。要使我国富强起来，需要几十年艰苦奋斗的时间，其中包括执行厉行节约、反对浪费这样一个勤俭建国的方针。

People, Way, Strong, Fight

“Now I am a grandfather, I am very content. I can focus on improving the economy in Taiwan now.”

Chen Shui-bian (1950) Taiwanese politician

After his daughter gave birth to his grandson, October 7, 2002
Pet Phrases, 2002

“The great thing about the U. S. economy right now is that we are the smart kids in the stupid-kid class. America has fiscal problems and gridlock issues and polarity and partisanship in Congress -- and yet, compared to Japan and Europe, the U. S. looks great.”

Ian Bremmer (1969) American political scientist

"Capitalism's State of Play," http://online.barrons.com/article/SB127206429298081857.html#articleTabs_panel_article%3D1 Barron's (April 24, 2010).

Stupidity, Problem

“When we study the habits of animals in a truly sympathetic way and become thoroughly acquainted with them and with the work that each one is performing, we shall see that each one has its place in the economy of God's world, that each has its part to play, and that even so far as the animal world is concerned we are all related and inter-related. If we destroy or permit to be destroyed that marvellous balance which the Divine Power has instituted in the Universe, we do it at our own peril. Instead, then, of being the enemies of the animal world, instead of being its persecutors and its destroyers, we should be its friends and helpers.”

Ralph Waldo Trine (1866–1958) American author

Source: Every Living Creature (1899), p. 64

God, World, Way, Study

“It is impossible to have workers' control within a capitalist society. Capitalism, by its very nature, produces contradictions which cannot be resolved until and unless we change the system of society…The unions could only have class collaboration and compromise with the mixed economy, and those who advanced the theory of workers' control in present-day society were putting forward an intellectual, Utopian dream, idealistic, unworkable and unattainable.”

Arthur Scargill (1938) British trade unionist

The Miner (5 December 1977), quoted in Paul Routledge, "Scargill attack on idea of worker directors", The Times (5 December 1977), p. 17

Dreams, Nature, Change

“In my opinion the Government can do more to remedy the economic ills of the people by a system of rigid economy in public expenditure than can be accomplished through any other action. The costs of our national and local governments combined now stand at a sum close to $100 for each inhabitant of the land. A little less than one-third of this is represented by national expenditure, and a little more than two-thirds by local expenditure. It is an ominous fact that only the National Government is reducing its debt. Others are increasing theirs at about $1,000,000,000 each year. The depression that overtook business, the disaster experienced in agriculture, the lack of employment and the terrific shrinkage in all values which our country experienced in a most acute form in 1920, resulted in no small measure from the prohibitive taxes which were then levied on all productive effort. The establishment of a system of drastic economy in public expenditure, which has enabled us to pay off about one-fifth of the national debt since 1919, and almost cut in two the national tax burden since 1921, has been one of the main causes in reestablishing a prosperity which has come to include within its benefits almost every one of our inhabitants. Economy reaches everywhere. It carries a blessing to everybody.”

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)

People, Business, Effort, Country

“There are reasons to believe that the world economy is once again in the throes of a phase change. There are also reasons to believe that this phase change, like the preceding ones, will involve a paradigmatic shift in the organization of people around their work. If this is so, then our perceptions of what has happened in the past decade or more in the world of work may need to be modified; likewise our perceptions of where those changes are leading us”

Fred Emery (1925–1997) Australian psychologist

Fred Emery (1982) " Socio-Technical Foundations for a New Social Order? http://www.moderntimesworkplace.com/archives/ericsess/sessvol2/Soc_Order.pdf" in Human Relations, Vol 35: p. 1095-1122.

People, World, Change, Past

“[The national economy is] a set of powers and ways used by a nation to keep and improve physical existence of its members… Moral good of a nation is a consequence of its education, and its physical good is a result of national economy.”

Fryderyk Skarbek (1792–1866) Polish noble

Source: Dictionary of political economy, 1818, p. 159, as cited in: Zabieglik (2002).

Education, Way

“Sir Michael Spicer: What are the characteristics of old Labour that he dislikes so much?
Tony Blair: I am afraid that the Hon. Gentleman will have to repeat that.
Sir Michael Spicer: What are the characteristics of old Labour that he dislikes so much?
Tony Blair: Basically, that it never won two successive terms of Government and, perhaps, that it never put the Conservative party flat on its back, which is where it is now. Thankfully, we are running an economy with low inflation, low mortgage rates and low unemployment; fortunately, we are doing a darn sight better than the Government of whom the right hon. Gentleman was a Member, who had—I thank him for allowing me to mention this—interest rates at 10 per cent. for four years, 3 million unemployed and two recessions. Whether it is old Labour or new Labour, it is a darn sight better than the Tories.”

Tony Blair (1953) former Prime Minister of the United Kingdom

Hansard http://archive.is/20130707074457/http://www.publications.parliament.uk/pa/cm200405/cmhansrd/cm050126/debtext/50126-03.htm%2350126-03_spnew24, House of Commons, 6th series, vol. 430, col. 302. In the House of Commons, 26 January 2005. 2000s

Success

“In his (Barack Obama's) distorted understanding of economics, when anyone, but especially the rich get a tax break or pay less in taxes, someone else has to pay the difference or the supposed shortfall adds to the debt. His assumption, typical of most Democrats and Republicans, is the government is “owed” a portion of the fruits of our labor. It never occurs to him that perhaps the government has no business taking money from people who earn it in the first place. He never thinks that the solution is to stop government spending and stop robbing Peter to pay Paul.He and other members of the ruling elite can only see the economy as a pie, with only so much to go around. If one person gets “more,” someone has to do with “less.” It never occurs to them that the free market is like a bakery that can produce many pies, and bigger pies, and different kinds of pies so that everyone has their fill.”

R. Lee Wrights (1958–2017) American gubernatorial candidate

2012, " The State of the Union is Still a State of War http://www.libertyforall.net/?p=7189"

Money, People, Understanding, Business

“There is every indication that the period ahead will be an innovative one, one of rapid change in technology, society, economy, and institutions.”

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

Source: 1960s - 1980s, MANAGEMENT: Tasks, Responsibilities, Practices (1973), Part 3, p. 803 (last page)

Change

“My agenda, pre-Trump, is the same agenda post-Trump. I am so glad that we have a president in the White House who wants to accomplish the things that the people of the state of Arizona, and people around this country, want to accomplish, I will be focused on things like border security, stopping illegal immigration, stopping rewarding people who came here illegally, and repealing Obamacare. I will be making sure the tax code is corrected, fair, and stimulates the economy’s growth — as well as making sure that America is energy independent. Those are things I have been fighting for since the first time I ran for the Arizona State Senate, trying to affect those things at the state level, and they are things that have been consistent even in my pre-political life.”

Kelli Ward (1969) American politician

Interview: Dr. Kelli Ward On Her Comments About Replacing John McCain https://bigleaguepolitics.com/interview-dr-kelli-ward-comments-replacing-john-mccain/ (July 21, 2017)

Life, People, Time, Fight

“I agree with you to the letter in all you say about Ireland. There is no doubt that the land question (coupled with the Church Establishment) is at the root of the evil. And here let me say that I go heartily with you in the determination to attack the land monopoly root and branch both here and in Ireland and Scotland…. Wherever the deductions of political economy lead I am prepared to follow. By the way, have you had time to read Bastiat's partly posthumous volume, 'Les Harmonies Economiques'? If not, do so; it will require a studious perusal, but will repay it. He has breathed a soul into the dry bones of political economy, and has vindicated his favourite science from the charge of inhumanity with all the fervour of a religious devotee.”

Richard Cobden (1804–1865) English manufacturer and Radical and Liberal statesman

Letter to John Bright (1 October 1851), quoted in John Morley, The Life of Richard Cobden (London: T. Fisher Unwin, 1905), p. 561.
1850s

Way, Soul, Question, Science

“My interest had been in a broad class of situations, broader than the advanced industrial market economies, including situations in third world countries, and in countries attempting to have some kind of socialist approach to their problems. I have been interested in how one can construct efficient mechanisms that have the decentralization features similar to a market but that do not necessarily resemble a market. For this purpose, I formulated the notion of an informationally-decentralized economy in which perfect competition was just a very special case…”

Leonid Hurwicz (1917–2008) Russian-American economist and mathematician

Source: David Warsh, " The Road to a System that Works (Without Shooting People) http://www.economicprincipals.com/issues/2007.10.21/69.html" at economicprincipals.com, October 21, 2007.

World, Problem, Perfection, Country

“To balance the economy, we need first to balance our priorities, and abandon rigid ideologies.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 10, Good Versus Evil, p. 313

“In 2014, one of the key agendas of the BJP’s election campaign was highlighting the dismal management of the Indian economy, ironically under an ‘economist’ prime minister and a ‘know-it-all’ finance minister. We all knew that the economy was in the doldrums but since we were not in government, we naturally did not have the complete details of the state of the economy. But, what we saw when we formed the government left us shocked! The state of the economy was much worse than expected. Things were terrible. Even the budget figures were suspicious. When all of this came to light, we had two options – to be driven by Rajneeti (political considerations) or be guided by Rashtraneeti (putting the interests of India First)… Rajneeti, or playing politics on the state of the economy in 2014, would have been extremely simple as well as politically advantageous for us. We had just won a historic election, so obviously the frenzy was at a different level. The Congress Party and their allies were in big trouble. Even for the media, it would have made news for months on end. On the other hand, there was Rashtraneeti, where more than politics and one-upmanship, reform was needed. Needless to say, we preferred to think of ‘India First’ instead of putting politics first. We did not want to push the issues under the carpet, but we were more interested in addressing the issue. We focused on reforming, strengthening and transforming the Indian economy. The details about the decay in the Indian economy were unbelievable. It had the potential to cause a crisis all over. In 2014, industry was leaving India. India was in the Fragile Five. Experts believed that the ‘I’ in BRICS would collapse. Public sentiment was that of disappointment and pessimism.”

Narendra Modi (1950) Prime Minister of India

Narendra Modi, Swarajya Interviews Prime Minister Modi, Interview, R Jagannathan- Jul 02, 2018 https://swarajyamag.com/economy/swarajya-interviews-prime-minister-modi-the-state-of-indian-economy 2018

Disappointment, Nature, Thinking, Light

“What is, however, expected of intellect is that it should show a most proper way to achieve its end, be it the hunting of a beast, inventing of an instrument, laying down the foundations of a new system of economy, setting up a new form or government, kindling a war, or making peace. All these activities of man depend upon his intellectual ability. Emotions creeping in will only spoil them.”

Muhammad Qutb (1919–2014) Egyptian Islamist writer and scholar

Source: Islam: the Misunderstood Religion, Chapter 7, p. 146.

War, Peace, Way, Dependency

“Success for a woman means absolute surrender, in whatever direction. Whether she paints a picture, or loves a man, there is no division of labor possible in her economy. To the attainment of any end worth living for, a symmetrical sacrifice of her nature is compulsory upon her.”

Elizabeth Stuart Phelps (1844–1911) American author, intellectual and feminist

The Study of Avis (1877)

Love, Nature, Success, Painting

“My estimate of American character has improved, contrary to my expectations, by this visit…I find myself in love with their intelligence, their sincerity, and the decorous self-respect that actuates all classes. The very genius of activity seems to have found its fit abode in the souls of this restless and energetic race. They have not, ‘tis true, the force of Englishmen in personal weight or strength, but they have compensated for this deficiency by quickening the momentum of their enterprises. All is in favour of celerity of action and the saving of time. Speed, speed, speed, is the motto that is stamped in the form of their ships and steamboats, in the breed of their horses, and the light construction of their wagons and carts: and in the ten thousand contrivances that are met with here, whether for the abridging of the labour of months or minutes, whether a high-pressure engine or a patent boot-jack. All is done in pursuit of one common object, the economy of time.”

Richard Cobden (1804–1865) English manufacturer and Radical and Liberal statesman

Letter to F. Cobden (5 July 1835) during his visit to the United States, quoted in John Morley, The Life of Richard Cobden (London: T. Fisher Unwin, 1905), pp. 39-40.
1830s

Love, Soul, Intelligence, Light

“The relationship that in our time unites us with Money is completely abstract. That’s where our society resembles to the one in the Middle Ages: we fear a symbolic and invisible entity, like men feared God thousands of years ago. The stock exchange changes without our participation. Between the stock and us there’s a theology of money called “economy” that, in general, is in charge of rationally explaining something that doesn’t have more reason than it’s symbolic power.”

Jorge Majfud (1969) Uruguayan-American writer

"Teología del dinero" http://www.bitacora.com.uy/articulos/2002/noviembre/98/98general.htm Bitácora, magazine, La República, Uruguay (13 November 2002)

Men, Money, God, Age

“I say looking at the next 100 years that there are two trends in the world today. The first trend is toward what we call a type one civilization, a planetary civilization… The danger is the transition between type zero and type one and that’s where we are today. We are a type zero civilization. We get our energy from dead plants, oil and coal. But if you get a calculator you can calculate when we will attain type one status. The answer is: in about 100 years we will become planetary. We’ll be able to harness all the energy output of the planet earth. We’ll play with the weather, earthquakes, volcanoes. Anything planetary we will play with. The danger period is now, because we still have the savagery. We still have all the passions. We have all the sectarian, fundamentalist ideas circulating around, but we also have nuclear weapons. …capable of wiping out life on earth. So I see two trends in the world today. The first trend is toward a multicultural, scientific, tolerant society and everywhere I go I see aspects of that birth. For example, what is the Internet? Many people have written about the Internet. Billions and billions of words written about the Internet, but to me as a physicist the Internet is the beginning of a type one telephone system, a planetary telephone system. So we’re privileged to be alive to witness the birth of type one technology… And what is the European Union? The European Union is the beginning of a type one economy. And how come these European countries, which have slaughtered each other ever since the ice melted 10,000 years ago, how come they have banded together, put aside their differences to create the European Union? …so we’re beginning to see the beginning of a type one economy as well…”

Michio Kaku (1947) American theoretical physicist, futurist and author

"Will Mankind Destroy Itself?" http://bigthink.com/videos/will-mankind-destroy-itself (29 September 2010)

Life, People, World, Idea

“To build a genuinely sustainable economy, we need to recognize and embrace the dynamic nature of the world, and free ourselves from the dead holds of static dogma.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 6, At Rest Versus In Motion, p. 200

World, Nature, Dead

“We always support peace… and we will keep supporting peace for all people. In Sri Lanka we also fought thirty years of war against terrorists. So the whole development process, the economy went down. We suffered for thirty years but now we have peace for the last four years. In 2009 we managed to eradicate terrorism. Though we have eradicated terrorism, now we have to face the international community, which is pressurizing us. Now our issue is that some of the countries are criticizing though there are no bombs blasting in our country. Every March or every six months in Geneva we are facing a confrontation with these countries. Some of the Western countries are bringing resolutions in the Human Rights Commission.”

Mahinda Rajapaksa (1945) Prime Minister of Sri Lanka

Quoted in DNA-India, "Sri Lankan president Mahindra Rajpaksa seeks more time to deal with the Tamilian issue" http://www.dnaindia.com/world/report-sri-lankan-president-mahindra-rajpaksa-seeks-more-time-to-deal-with-the-tamilian-issue-1948078, January 9, 2014.

War, People, Peace, Communication

“I stress the strength of our economy because it is essential to the strength of our nation. And what is true in our case is true in the case of other countries. Their strength in the struggle for freedom depends on the strength of their economic and their social progress. We would be badly mistaken to consider their problems in military terms alone. For no amount of arms and armies can help stabilize those governments which are unable or unwilling to achieve social and economic reform and development. Military pacts cannot help nations whose social injustice and economic chaos invite insurgency and penetration and subversion. The most skillful counter-guerrilla efforts cannot succeed where the local population is too caught up in its own misery to be concerned about the advance of communism.”

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

Source: 1961, Speech to Special Joint Session of Congress

Communication, Problem, Effort, Freedom

“The institutional settlement of post-war West Germany has endured because it generated value. They retained pre-modern artisan organisations and turned them into the foundation of their contemporary economic success. They entangled and constrained capital in a myriad form of national, sectoral and localised arrangements and they emerge from the crash, virtually alone, with a productive economy and a functioning democracy, with greater equality than us and more meaningful work.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Blue Labour, An Ancient Polity For A New Economy? http://www.bluelabour.org/2012/06/19/an-ancient-polity-for-a-new-economy/

War, Democracy, Success

“The present estimated margin between public receipts and expenditures for this fiscal year is very small. Perhaps the most important work that this session of the Congress can do is to continue a policy of economy and further reduce the cost of government, in order that we may have a reduction of taxes for the next fiscal year. Nothing is more likely to produce that public confidence which is the forerunner and the mainstay of prosperity, encourage and enlarge business opportunity with ample opportunity for employment at good wages, provide a larger market for agricultural products, and put our country in a stronger position to be able to meet the world competition in trade, than a continuing policy of economy. Of course necessary costs must be met, proper functions of the Government performed, and constant investments for capital account and reproductive effort must be carried on by our various departments. But the people must know that their Government is placing upon them no unnecessary burden.”

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)

People, World, Confidence, Business

“Economism is the view that the economy is the most important part of society and that the other dimensions such as politics and education should serve it. Economism has become the ruling ideology, not because of claims of economists, but because of the decisions of political leaders, financiers, corporate leaders, and the general public.”

John B. Cobb (1925) American theologian

Spiritual Bankruptcy: A Prophetic Call to Action (2010)

Education, Decision, Parting

“One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.”

Peter Dicken (1938) British geographer

Source: Global Shift (2003) (Fourth Edition), Chapter 16, Making a Living in Developed Countries, p. 525

“The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXX, Influence of Demand and Supply, p. 260

Error, Science, Dependency

“We aspire to a new world order, one based on justice, fairness and peace; one that will replace the unjust and unequal system of prevailing today, in which, as the final summit declaration states: "Wealth is concentrated in the hands of a few powers whose wasteful economies are maintained by the exploitation of workers as well as by the transfer and plunder of of the natural and other resources of the peoples of Africa, Latin America, Asia and other regions of the world."”

Fidel Castro (1926–2016) former First Secretary of the Communist Party and President of Cuba

On Behalf of the Movement of Nonaligned Countries (1979)

People, World, Peace, Justice

“We live in a capitalist economy, and I have no particular objection to honorable self-interest. We cannot hope to make the needed, drastic improvement in primary and secondary education without a dramatic restructuring of salaries. In my opinion, you cannot pay a good teacher enough money to recompense the value of talent applied to the education of young children. I teach an hour or two a day to tolerably well-behaved near-adults—and I come home exhausted. By what possible argument are my services worth more in salary than those of a secondary-school teacher with six classes a day, little prestige, less support, massive problems of discipline, and a fundamental role in shaping minds.”

Stephen Jay Gould (1941–2002) American evolutionary biologist

In comparison, I only tinker with intellects already largely formed.
"The Dinosaur Rip-off", pp. 101–102
Bully for Brontosaurus (1991)

Money, Children, Education, School

“Along came the Republicans, trickle-down economics — one of the worst ideas since snake oil — was put back into place. And we ended up with the great recession. President Obama had to rescue the economy. And I don’t think he gets the credit he deserves for doing that.”

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

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)

Idea, Thinking

“Left to its own devices the market is capable of the most miraculous of inventions and the silliest of self-delusions. It is an extreme romantic. It also has a real purpose — the same one it has always had. That is to organize the supply and exchange of goods or to finance the production of goods — thus facilitating and financing the economy. But the market cannot achieve in a regular and lasting manner its own purpose because it is only an unconscious and abstract mechanism. The factor which must be added in order to create the restraint, balance, and consciousness necessary for long-term prosperity is human leadership. That leadership takes the form of effective regulation.”

John Ralston Saul The Doubter's Companion

"Marketplace"
The Doubter's Companion (1994)

“An economy based on information, with its tendency to zero-cost products and weak property rights, cannot be a capitalist economy.”

Paul Mason (journalist) book PostCapitalism: A Guide to our Future

PostCapitalism: A Guide to our Future (2015)

“The world economy diffuses rather than concentrates wealth.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Three, Dynamics Of Political Economy, p. 85

World, Wealth

“29 million people have no health insurance today in America. We pay, by far, the highest prices in the world for prescription drugs. One out of five Americans can't even afford the prescriptions their doctors are writing. Millions of people have high deductibles and co-payments. I don't know what economists Secretary Clinton is talking to, but what I have said, is that the family right in the middle of the economy would pay $500 dollars more in taxes, and get a reduction in their healthcare costs of $5,000 dollars. In my view healthcare is a right of all people, not a privilege, and I will fight for that.”

Bernie Sanders (1941) American politician, senator for Vermont

2010s, 2016, Democratic Presidential Debate in Milwaukee, Wisconsin (11 February 2016)

People, Health, World, Family

“I agree with the libertarianism offered by candidates from former Rep. Ron Paul (R-Texas) to Johnson, and on other issues I do not. For example, I agree with the libertarian opposition to infringement on civil liberties in the Big Brother state that has grown with widespread eavesdropping from big government, and I agree with libertarians on their opposition to what is called the war on drugs, and I believe pot should be legalized (and Jack Daniels should always remain legal!). I do not agree with the degree of laissez-faire advocated by libertarians in an economy that I believe is rigged by big business and their lobbyists and campaign donations.”

Brent Budowsky (1952) American journalist

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

Business

Quotes about economy page 5

Quotes about economy
page 5