Quotes about economy
page 6

“The invocation of social necessity should alert us. It contains the seeds for Marx's critique of political economy as well as for his dissection of capitalism.”

David Harvey (1935) British anthropologist

Source: The Limits To Capital (2006 VERSO Edition), Chapter 1, Commodities, Values And Class Relations, p. 15

“Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G. D. P. is one measure of national income, of how much wealth Americans make, and it’s a deeply foolish indicator of how the economy is doing. It ought to join buggy.”

Eric Zencey (1953–2019) American writer

Eric Zencey, in G.D.P. R.I.P. http://www.nytimes.com/2009/08/10/opinion/10zencey.html?pagewanted=all&_r=0, The New York Times, 9 August 9, 2009

Wealth

“Although the formulations of science now offer the most advanced knowledge of nature, men continue to use obsolete forms of thought long discarded by scientific theory. In so far as these obsolete forms are superfluous for science, the fact that they persist violated the principle of the economy of thought, that characteristic trait of the bourgeois temper.”

Max Horkheimer (1895–1973) German philosopher and sociologist

Source: "The Latest Attack on Metaphysics" (1937), p. 133.

Men, Nature, Knowledge, Science

“There will have to be three objects for farming and farm products. First, we must end over-production. The over-production that is taking place in Europe and the United States is damaging and obscenely wasteful. It is damaging to the environment, and it is obviously obscenely wasteful when products that are the result of over-production are being burnt in an attempt to maintain prices…Secondly, we must end export dumping. Instead, we must promote aid and trade policies that encourage self-reliant production, which is more protective of the local economy and less dependent on the economies of western Europe and of the United States…Thirdly, what happens to the political sovereignty of poor countries that do not have the infrastructure that is available in Europe and north America when they are told that, because of the debt crisis, they must open up their economies to multinational capital to do whatever it will, and when the IMF and the World bank tell them that they must cut social expenditure? They are now told that they must pursue free trade policies for farm products. Those policies add up to disaster for poor countries.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1990/nov/23/general-agreement-on-tariffs-and-trade-1 in the House of Commons (23 November 1990). 1990s

World, Dependency, Country

“Virtually, Finnish woods are stripped so bare, so sold out and first and foremost, so long way off from genuine diverse natural forest, that the resources of language will not permit excessive words. Finnish forest economy has been compared to the ravaging of rain forests. Nevertheless, the noteworthy difference is that there is a half or two thirds left from rain forests, but from Finnish forests there is left - excluding arctic Lapland - 0,6 per cent.”

Pentti Linkola (1932) Finnish ecologist

The Forest Covering Must Be Restored In Finland (1995)

Way, Nature

“We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.”

James Callaghan (1912–2005) Prime Minister of the United Kingdom; 1976-1979

Labour Party Annual Conference Report 1976, page 188.
Speech at the Labour Party Conference, 28 September 1976. This part of his speech was written by his son-in-law, future BBC Economics correspondent Peter Jay.
Prime Minister

War, Way, Thinking

“In traditional economic writings dealing with the economy as a whole, it is usually assumed that prices are highly flexible and that economic adjustment is brought about through price changes. We are going to examine inflexible prices.”

Gardiner C. Means (1896–1988) American economist

Gardiner C. Means, "Price inflexibility and the requirements of a stabilizing monetary policy." Journal of the American Statistical Association 30.190 (1935): 401-413.

Change

“Historians now debate whether Britain had a ‘managed economy’ by 1939, the very term—die gelenkte wirtschaft—adopted by German economists in the 1930s to describe the Nazi economy.”

Richard Overy (1947) British historian

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

“While many of the conflicting claims can be reconciled in terms of the short-run and long-run orientation of Keynesians and monetarists, respectively, and in terms of their contrasting philosophical orientations, neither vision takes into account the workings or failings of the market mechanisms within the investment aggregate.Austrian macroeconomics is set apart from both Keynesianism and monetarism by its attention to the differential effects of interest rate changes within the investment sector, or—using the Austrian terminology—within the economy's structure of production.”

Roger Garrison (1944) American economist

Page 136.
"Is Milton Friedman a Keynesian?" (1992)

Change

“The future strength of our rural economies and communities will depend upon the availability of a sufficient and appropriate supply of housing.”

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

Sabhal Mòr Ostaig Lecture (December 19, 2007)

Communication, Future, Housing, Dependency

“On a second front, a powerful new technology platform is developing out of the bowels of the Second Industrial Revolution, speeding the central contradiction of capitalist ideology to the end game mentioned above. The coming together of the Communications Internet with the fledgling Energy Internet and Logistics Internet in a seamless twenty-first-century intelligent infrastructure—the Internet of Things (IoT)—is giving rise to a Third Industrial Revolution. The Internet of Things is already boosting productivity to the point where the marginal cost of producing many goods and services is nearly zero, making them practically free. The result is corporate profits are beginning to dry up, property rights are weakening, and an economy based on scarcity is slowly giving way to an economy of abundance.”

Jeremy Rifkin (1945) American economist

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

Way, Game, Intelligence, Communication

“Over a wide field of our economy it is still the better course to rely on the nineteenth century's "hidden hand" than to thrust clumsy bureaucratic fingers into its sensitive mechanism. In particular, we cannot afford to damage its mainspring, freedom of competitive enterprise.”

John James Cowperthwaite (1915–2006) British colonial administrator

March 30, 1962, page 133.
Official Report of Proceedings of the Hong Kong Legislative Council

Freedom

“The major challenges of climate change, the major challenge of the economy and manufacturing, the major challenges in education, and how do we turbo-charge our national education system to create the knowledge base for the future of the Australian economy. These are the sorts of areas that you're going to see detailed policy plans from us in the weeks and months ahead…”

Kevin Rudd (1957) Australian politician, 26th Prime Minister of Australia

Rudd's new vision for the nation, 5 December 2006, 13 February 2008, ABC Local Radio http://www.abc.net.au/am/content/2006/s1804299.htm, 2006

Education, Knowledge, Change, Future

“Why do economists persist in modelling the economy with static tools when dynamic ones exist; why do they treat as stationery an entity which is forever changing?”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 8, Let's Do The Time Warp Again, p. 177

Change

“Over a period of 500 years the City has supported deregulation at every turn. The consequences of this are massive. You had fraudulent products – the cause of the crash – debt being repackaged as an asset and then being used as leverage. The assets they held and credit they generated were on a ratio of 50-1. There was no effective regulation of this, no effective oversight. They have been exposed by the bailout. They have refused more than ten years of requests from us [London Citizens UK organisation] and suddenly they agree to meet. I think they are concerned that the political parties will move to a more manufacturing, less financially-based economy.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Red Pepper magazine, 22 November 2009 http://www.redpepper.org.uk/confronting-the-city/

Support, Thinking

“Despite a relative control over expenditure in 2013, the persistence of a very high public deficit (4.3%) was mainly due to an unprecedented and unexpected drop in tax revenue which confirms the existence of a tax tolerance threshold, specific to each country, and which may have been reached in France. Above this threshold, any tax increase has a counterproductive effect as compulsory taxes stifle activity by further weakening the economy’s growth potential.”

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). Tax policy, The Tax tolerance Threshold

Country

“This president is a miserable failure on foreign policy and on the economy and he's got to be replaced.”

Dick Gephardt (1941) American politician

In a presidential debate on September 4, 2003

Failure

“Before I came into the department, your Excellency was obliged often to stand Quarter-master. However capable the principal was of doing his duty, he was hardly ever with you. The line and the staff were at war with each other. The country had been plundered in a way that would now breed a kind of civil war between the staff and the inhabitants. The manner of my engaging in this business, and your Excellency's declaration to the Committee of Congress, that you would stand Quarter-master no longer, are circumstances which I wish may not be forgotten; as I may have occasion, at some future day, to appeal to your Excellency for my own justification. One thing I can say, with truth and sincerity, that I have conducted the business with as much prudence and economy, as if my private fortune had been answerable for the disbursements. And I believe your Excellency will do me the justice to say, the department has cooperated with your measures as far as circumstances were to be governed by me; and this you had reason to apprehend would not have been the case had I not taken direction of the business. And here, in justice to my colleagues, I shall mention that I think them entitled to your Excellency's personal esteem, from the warmth of their wishes, and a desire to promote your ease and convenience.”

Nathanael Greene (1742–1786) American general in the American Revolutionary War

Letter to George Washington (24 April 1779)

War, Truth, Justice, Way

“One of the first things they teach stockbrokers is to stay out of the stock market. Brokers make their pile from selling advice, and from commissions on stock transactions. They can't predict the market, and few risk their own money. They, at least, only affect their clients' fortunes. Economists, though, can ruin the lot of us with their advice — yet if no science can predict a relatively closed system like the stock market, how the devil are you going to 'fine tune' something a large as the American economy? I'd think it arrogant to try; as arrogant as the man with three illiterate drug-addicted spoiled brats writing a book on parenting.”

Jerry Pournelle (1933–2017) American science fiction writer and journalist

"The Voodoo Sciences" http://www.jerrypournelle.com/science/voodoo.html, 1988 Assorted

Money, Books, Thinking, Parent

“Britain, as a relatively large economy which exports more to non-EU than to EU markets, would be better off trading freely with the single market than belonging to it.”

Daniel Hannan (1971) British politician

http://www.conservativehome.com/thecolumnists/2016/09/daniel-hannan-repeat-after-me-single-market-membership-and-single-market-access-are-not-the-same-thing.html 2010s

“However, we must not lose sight of the fact that the fundamentals of the economy are still good.”

Brian Cowen (1960) Irish politician

The wise words of Brian Cowen, Irish Independent, 6 December 2007 http://www.independent.ie/national-news/budget2008/the-wise-words--of-brian-cowen-1239048.html, 2007

“In short, I believe the future is ours to shape. Our economies are booming. Our political influence is growing. And our ability has never been stronger. Our populations are youthful and energetic. Our thinkers, researchers and scientists are globally renowned. Our culture is internationally acclaimed. Our private sector companies are some of the world’s largest and most profitable. We can only achieve [these] goals, if we work together… because our success, is dependent on our neighbour's success; economic stagnation in one part of our region, dampens prosperity in another; instability in one member state, causes insecurity for us all.”

Mohamed Nasheed (1967) Maldivian politician, 4th president of the Maldives

President Nasheed stressed that the time has come for South Asia, which he said was earlier considered a sideshow in the theatre of global politics, to shine as it currently occupies the centre stage in global politics, quoted on HaveeruOnline, 'Time has come to shine', President Nasheed tells SAARC leaders http://www.haveeru.com.mv/news/38638, November 11, 2011.

Youth, World, Success, Future

“And comparing what happened in England—after all, in England the Parliament in Westminster was making laws for the West Indies. The West Indians didn't have any representation in the Parliament. The laws were made for them, and they had to go along with it. There was no such power within the Federal government to interfere with slavery, except by limiting the expansion of slavery. And it was Lincoln’s belief—and I think the best economic analysis that we have of the American economy in the antebellum United States indicates—that if the expansion of slavery had been ended, and if it was no longer possible for surplus slaves to be sold from the old states to new territories, that the pressure within the states to adopt programs of emancipation would become great enough to do that.”

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

2000s, The Real Abraham Lincoln: A Debate (2002), Q&A

Law, Thinking

“Reaganites learned it is POLICY change that changes economic trajectory. Reagan’s successes were built on establishing a fiscal framework that invigorated our entire economy, revitalized growth and investment while decreasing spending, tax rates, over-reaching regulations, unemployment, and favoritism via individual subsidies. We need Reaganites in the new Administration. However well meaning, burdensome federal government imposition is never the solution. Never. Not in our homes, not in our schools, not in churches, not in businesses.”

Sarah Palin (1964) American politician

2016, But… Wait… The Good Guys Won’t Win With More Crony Capitalism (December 2, 2016)

School, Home, Business, Learning

“Born in 1883 and dying in 1946, the bulk of Keynes's professional life was framed by two world wars. At the beginning, he was an Edwardian optimist, convinced that automatic progress was steadily enlarging opportunities for more and more people to live the 'good life', as identified by his mentor, G. E. Moore, and his friends of the Bloomsbury Group. He ended his life bequeathing the world a theory, policies and two international institutions (the International Monetary Fund and the International Bank for Reconstruction and Development) designed to strengthen the foundations of free economy, so as to make it possible again for people to indulge the hopes with which he had grown up. In between, there was catastrophe and retrogression, starting in Europe and spreading to most of the rest of the world.”

Robert Skidelsky (1939) Economist and author

John Maynard Keynes: 1883-1946: Economist, Philosopher, Statesman (2003), Introduction

Life, War, People, World

“The abolition of the market means not only that the consumers—that is all members of society—are robbed of virtually all choice of consumption and all influence over production; it also means that the information and communication are monopolized by the State, as they too need a vast material base in order to operate. The abolition of the market means, then, that both material and intellectual assets would be totally rationed. To say nothing of the inefficiency of production convincingly demonstrated in the history of communism, this economy requires an omnipotent police state. Briefly: the abolition of the market means a gulag society.”

Leszek Kolakowski (1927–2009) Philosopher, historian of ideas

"The Self-Poisoning of the Open Society"

History, Communication

“Intensive research in recent years into the sources of economic growth among both developing and developed nations generally point to a number of important factors: the state of knowledge and skill of a population; the degree of control over indigenous natural resources; the quality of a country's legal system, particularly a strong commitment to a rule of law and protection of property rights; and yes, the extent of a country's openness to trade with the rest of the world. For the United States, arguably the most important factor is the type of rule of law under which economic activity takes place. When asked abroad why the United States has become the most prosperous large economy in the world, I respond, with only mild exaggeration, that our forefathers wrote a constitution and set in motion a system of laws that protects individual rights, especially the right to own property. Nonetheless, the degree of state protection is sometimes in dispute. But by and large, secure property rights are almost universally accepted by Americans as a critical pillar of our economy. While the right of property in the abstract is generally uncontested in all societies embracing democratic market capitalism, different degrees of property protection do apparently foster different economic incentives and outcomes.”

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

Alan Greenspan (2004) The critical role of education in the nation's economy.
2000s

World, Law, Nature, Knowledge

“The Soviet Union and its empire disappeared in large part because its smokestack economy could no longer keep up with the technological progress of the world's major economic powers.”

John Mearsheimer book The Tragedy of Great Power Politics

Source: The Tragedy of Great Power Politics (2001), Chapter 6, Great Powers in Action, p. 202

World, Parting

“[Obama White House] rescued the economy from the worst recession.”

Rahm Emanuel (1959) politician, investment banker, White House Chief of Staff

Obama goes prime-time to pitch healthcare http://www.upi.com/Top_News/2009/07/22/Obama-goes-prime-time-to-pitch-healthcare/UPI-38611248259706/, UPI, July 22, 2009.

Housing

“Ultimately, all addictions are the same. What distinguishes one from the other is only that some are visible and socially unacceptable, whereas others fall into cultural blind spots and get applauded. The latter are the addictions society seems to need in order to keep the system and economy going.”

Herb Goldberg (1937–2019) American psychologist

The Personal Journey of Masculinity: From Externalization to Disconnection to Oblivion, pp. 27–28
What Men Still Don't Know About Women, Relationships, and Love (2007)

“The Republican Party recognizes the right of the majority to govern, and their power to enforce that right against all attempts at disunion, come from what quarter they may. It is based upon the great fundamental principle upon which the National Government rests, that the Constitution, and all laws made in pursuance thereof, are to be faithfully observed and enforced, and it demands economy and a rigid accountability on the part of all public officers.”

Elbridge G. Spaulding (1809–1897) American politician

Remarks on the Republican platform (1860)

Law, Parting

“America is so big that it cries for work. In Germany, if you tried to find work, you couldn't. In America, it was a strange economy which caused unemployment. German unemployment was due to the boycott of German goods. Not an official boycott. The world market refused to accept German goods. France, England, and America refused. Germany had no colonies and she had to export manufactured goods for grain. We had nothing to speak of. We managed to live during the war by rations. We all lived on a strict ration - even ministers in the government like myself - and we lived on things from the conquered countries, including Africa and Russia.”

Fritz Sauckel (1894–1946) German general

To Leon Goldensohn, February 9, 1946, from "The Nuremberg Interviews" by Leon Goldensohn, Robert Gellately - History -

War, World, Country

“In fact, the only person to rival Friedman for policy influence in the twentieth century is John Maynard Keynes, who had a strikingly different view of the role of government. Keynes was influential because he advocated more government intervention into what he perceived as poorly functioning private economies caught up in the Great Depression. In contrast to Keynes, Friedman put the main blame for the Depression on government failures, especially of monetary policy. Hence, the Depression did not make Friedman a fan of big government. He also found in the Federal Reserve’s failure to prevent deflation an argument in favor of monetary rules. As the world evolved— with low inflation becoming the major mission of central banks and free markets and secure property rights becoming the main policies to promote economic growth—Friedman surely won the intellectual battle.”

Robert Barro (1944) American classical macroeconomist

Source: Nothing Is Sacred (2002), p. 2

World, Failure, Personality

“Development cannot be left to complete improvisation. It is necessary to plan the construction of the new society. Planning is one of the laws of socialism, and without it, socialism would not exist. Without correct planning there can be no adequate guarantee that all the various sectors of a country's economy will combine harmoniously to take the leaps forward that our epoch demands.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Afro-Asian Conference (1965)

Law, Country

“The path away from economic freedom is, as Hayek long ago demonstrated, the road to serfdom. The road may be a long one: the pace may be swift or slow: but the destination cannot be changed. State ownership, state monopolies, state regulation and state planning, through the centralisation of economic power, inevitably lead to economic failure. They inevitably increase both the temptation and the scope for abuses of political power until freedom itself is threatened. The planned economies, the controlled societies which socialism requires, pervert what are truly economic decisions for the market into political decisions for the politician or the bureaucrat. The fruits of centralised economics are corruption, poverty and servility—and in the socialist society the only medicine which may be prescribed is heavier doses of the same socialist poison.”

Norman Tebbit (1931) English politician

The 1985 Disraeli Lecture (13 November, 1985).

Failure, Decision, Freedom, Change

“The right hon. Gentleman should be aware that, two weeks ago, I had an interesting meeting with an environmental campaigning group from the Soviet Union who openly admitted that the industrial policies followed in the past by the Soviet Union and many countries in central and eastern Europe had done a great deal of environmental damage. The difference is that those people felt that they had the power to change the policies to stop the destruction of their own environment. The policies of free-market economies which the right hon. Gentleman propounds have led to the pollution of the North sea and the Irish sea, the destruction of the rain forests in Brazil and Malaysia and long-term serious environmental damage by multinational companies all over the southern countries of this planet.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1989/dec/15/future-of-socialism in the House of Commons (15 December 1989). 1980s

People, Change, Past, Sea

“Efforts that promote hard work and personal responsibility over government dependency make America strong. When the economy is growing and Americans are working, everyone involved has a shared sense of achievement, not to mention the basic sense of pride that comes with the paycheck they earn.”

Mitt Romney (1947) American businessman and politician

2012-09-19
http://www.usatoday.com/news/opinion/story/2012-09-18/Romney-47-recovery-dependency/57804214/1?fb_comment_id=fbc_417363074994653_4053230_417413701656257#f2c857185c
Column: Romney's answer to editorial
USA Today
2012

Sense, Effort, Strong, Dependency

“The way out of this recession, the way to create jobs, is to grow the economy by encouraging investment in factories and equipment, and by speeding up tax relief so people have more money to spend. For the sake of American workers, let's pass a stimulus package.”

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

2000s, 2002, State of the Union address (January 2002)

Money, People, Way, Speed

“All that this country can achieve depends on developing our nation as a high growth, vibrant economy. In the modern global economy, even the greatest political ambition is doomed to failure without an economy driving employment, investment, research and development and rewarding success.”

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

Principles and Priorities : Programme for Government (September 5, 2007)

Failure, Success, Dependency, Country

“Although I wrote as an anthropologist rather than as a professional historian, I think history matters. It is also important to understand how an why these systems develop and extend their sway over people, and I located the rationale in the ways power and the economy sustain and drive each other on.”

Eric Wolf (1923–1999) American anthropologist

Preface (1997), p. ix.
Europe and the People Without History, 1982

People, Way, History, Understanding

“[George W. ] Bush explained that he wasn't willing to take the steps outlined in the Kyoto accords - steps that both the scientific world and the international political community had agreed, with a stunning degree of unanimity, were necessary for the future viability of the earth - because he wasn't willing to jeopardize the rate of growth of the American economy. In what sense is this a rational position?”

Linda McQuaig (1951) journalist and author

All You Can Eat: Greed, Lust and the New Capitalism (2001)

World, Communication, Sense, Future

“Finns live in smaller homes than Americans and consume a lot less. They spend relatively little on national defense, though they still have universal male conscription, and it is popular. Their per capita national income is about 30 percent lower than ours. Private consumption of goods and services represents about 52 percent of Finland's economy, and 71 percent of the United States'. Finns pay considerably higher taxes — nearly half their income — while Americans pay about 30 percent on average to federal, state and local governments.”

Robert G. Kaiser (1943) American journalist

2000s, "Why can't we be more like Finland?" (2005)

Home, Universe

“The English themselves hardly conceived that their mind was either economical, sharp, or direct; but the defect that most struck an American was its enormous waste in eccentricity. Americans needed and used their whole energy, and applied it with close economy; but English society was eccentric by law and for sake of the eccentricity itself.The commonest phrase overheard at an English club or dinner-table was that So-and-So "is quite mad." It was no offence to So-and-So; it hardly distinguished him from his fellows; and when applied to a public man, like Gladstone, it was qualified by epithets much more forcible. Eccentricity was so general as to become hereditary distinction. It made the chief charm of English society as well as its chief terror.”

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

The Education of Henry Adams (1907)

Law, Madness

“History’ and ‘Political Economy’ have not been differentiated on the basis of systematic reflection; rather, they have been quite different in origin and conceptual structure. Only on further development of both disciplines are they set closer together and merged into a single science, namely ‘Sociology’, which for about a hundred years past has been assimilating other fields of science.”

Otto Neurath (1882–1945) austrian economist, philosopher and sociologist

Source: 1930s, "Empirical Sociology" (1931), p. 319; Lead paragraph

History, Science, Past

“Borders are always dictated by the strong, never by the weak.… We simply consider it as a legitimate right and interest of the Serb nation to live in one state. This is the beginning and the end.… If we have to fight, by God we are going to fight. I hope that they will not be so crazy as to fight against us. If we do not know how to work properly or run an economy, at least we know how to fight properly.”

Slobodan Milošević (1941–2006) Yugoslavian and Serbian politician

Remarks at a meeting with Serb leaders (16 March 1991), as quoted in Doder and Branson (1999) Milosevic: Portrait of a Tyrant

God, Hope, Strong, Fight

“The university is being called upon to educate previously unimagined numbers of students; to respond to the expanding claims of national service; to merge its activities with industry as never before. Characteristic of this transformation is the growth of the knowledge industry, which is coming to permeate government and business, and to draw into it more and more people raised to higher and higher levels of skill. The production, distribution and consumption of knowledge is said to account for 29 percent of gross national product, and knowledge production is growing at about twice the rate of the rest of the economy. What the railroads did for the second half of the last century, and the automobile for the first half of this century, may be done for the second half of this century by the knowledge industry; and that is, to serve as the focal point for national growth.”

Clark Kerr (1911–2003) American academic

David Lance Goines, 1993, The Free Speech Movement: Coming of Age in the 1960's, Ten Speed Press, p. 49.

People, Education, Business, Knowledge

“Isn't it really, really offensive that our president is simply not telling us the truth about what's happening in Iraq? For me, that was one of the most offensive things about the entire convention. There was no truth-telling there. It was all a complete masquerade. Both about Iraq and about the domestic economy… The problem is not that the people think the Democratic Party is not sufficiently hawkish; it's the problem that they are not sufficiently bold and sufficiently visionary. They need to go back to Bobby Kennedy and 1968. That was the last time that a Democrat truly inspired red states and blue states and everybody and the millions of people out there.”

Arianna Huffington (1950) Greek-American author and syndicated columnist

Regarding the 2004 Republican National Convention and the problems facing the Democratic Party
Real Time with Bill Maher, 3 September 2004

People, Truth, Problem, Thinking

“Political economy has only become a science since it has been confined to the results of inductive investigation.”

Jean-Baptiste Say (1767–1832) French economist and businessman

Source: A Treatise On Political Economy (Fourth Edition) (1832), Introduction, p. xxvi

Science

“We had to dispel the notion that the way to economic success lies through a sort of fiscal levitation. That was the abiding post-war delusion—that governments could spend and borrow their way to prosperity, and fine-tune the performance of the economy through something known pretentiously as demand management…It used to be an establishment nostrum that you need a budget deficit to get economic growth. That was the belief which lay behind the notorious letter by 364 economists in March 1981. We have given the lie to that, decisively. There can no longer be any argument about it. Everyone—or almost everyone—now accepts that the proper role of macro-economic policy is to keep downward pressure on inflation and to maintain a stable framework in which the private sector can expand.”

Nigel Lawson (1932) British Conservative politician and journalist

Nigel Lawson, Tax Reform: The Government's Record (Conservative Political Centre, June 1988).

War, Lie, Way, Decision

“I strongly support Donald Trump for President. I think only Trump has the financial independence to take on the special interests. Trump doesn't need the lobbyists or the special interest money with the strings attached. He is the only one who can fix a broken system. Trump's pro-growth tax reform plan will supercharge the economy. Trump can actually cut waste because he is not beholden to the special pleaders. Trump will get in Hillary's face and confront her with her lies. Jeb gave Hillary a medal. The Bush and Clinton families profiteer off public service together. Is it civility or shared criminality? Only Trump can make America great again!”

Roger Stone (1952) American lobbyist

Wikinews interviews three figures from Donald Trump's political past (October 2015)

Money, Family, Support, Thinking

“In the entire world, there is not a single establishment of the security industry that is not based on monopoly or on communism. […] Political economy has disapproved equally of monopoly and communism in the various branches of human activity, wherever it has found them. Is it not then strange and unreasonable that it accepts them in the security industry?”

Gustave de Molinari (1819–1912) Belgian political economist and classical liberal theorist

Source: The Production of Security (1849), p. 27–28

World, Communication

“Three-fourths of the Italian economy, industrial and agricultural, is in the hands of the state. And if I dare to introduce to Italy state capitalism or state socialism, which is the reverse side of the medal, I will have the necessary subjective and objective conditions to do it.”

Benito Mussolini (1883–1945) Duce and President of the Council of Ministers of Italy. Leader of the National Fascist Party and subsequen…

The Oxford Handbook of the Italian Economy Since Unification, by Gianni Toniolo, editor, Oxford University Press (2013) p. 59. Mussolini’s speech to the Chamber of Deputies on May 26, 1934.
1930s

“Our first priority must always be the security of our nation, and that will be reflected in the budget I send to Congress. My budget supports three great goals for America: We will win this war; we'll protect our homeland; and we will revive our economy.”

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

2000s, 2002, State of the Union address (January 2002)

War, Support

“Too often, training and retraining doesn’t work as it should. If you don’t have a four-year degree, if you haven’t really had the chance to upgrade your skills over the years, it’s hard to just make a course correction. We need to have apprenticeships and community college and technical programs, starting in high school and moving all the way up to older workers. Whether you’re trying to start your career or you’ve spent decades contributing to our economy, you deserve better.”

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

Presidential campaign (April 12, 2015 – 2016), Speech in Orlando, Florida (September 21, 2016)

School, Way, Communication, Chance

“Without the parallel development of systems of monetary - and credit-based exchange there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.”

Peter Dicken (1938) British geographer

Source: Global Shift (2003) (Fourth Edition), Chapter 13, The Financial Services Industries, p. 437

“In a poetic sense the prime goal of the new economy is to undo – company by company, industry by industry – the industrial economy.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

Sense

“The change in consciousness will not take place automatically, just as it doesn't take place automatically in the economy. The alterations are slow and are not harmonious; there are periods of acceleration, pauses and even retrogressions.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Man and Socialism in Cuba (1965)

Change

“The fact is, people work hard and rely on Food Stamps—or SNAP Program—to be able to feed their families. When they work full-time they still live in poverty. That's wrong in our nation. Students who are losing hope because of the difficulty of finding jobs in this tough economy. What we need to do, what is best for America, is to raise wages, create jobs, and then we will move forward. Hard-working people are trying their best, but those who hold on to capital are not sharing the wealth, and there is the problem.”

Simone Campbell (1945) American Roman Catholic Religious Sister and activist

Simone Campbell, interviewed by Al Sharpton, " Nun Responds To Hannity's 'Communist' Comparison: 'Name Calling Is About All That Exists On That Side' http://www.mediamatters.org/video/2014/04/21/nun-responds-to-hannitys-communist-comparison-n/198961," Media Matters for America video, 4:12, April 21, 2014.

People, Family, Food, Hope

“Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on. We do need to intervene, to improve political and economic conditions inside countries that have bad governments, where people are suffering.
One way of doing this, without violating sovereignty, is through constructive actions — reinforcements and incentives for countries that are moving in the right direction, toward an open society, a market economy, et cetera. That is what I'm advocating. I'm advocating preventive action of a constructive nature. And I would use military force only as the very last resort, when nothing else works.”

George Soros (1930) Hungarian-American business magnate, investor, and philanthropist

BuzzFlash interview (2004)

People, World, Way, Democracy

“…it is the natural tendency of market economies to lower prices that makes them so successful.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

Nature, Success

“Ensour: The region’s political instability is expected to persist through 2015 and possibly escalate in coming years. Unsurprisingly, Jordan has been affected by the crisis and it remains a major challenge facing the economy. Since the conflict in Syria began five years ago, over 1.4m Syrians refugees have fled to Jordan and now account for about 20% of the kingdom’s population. Demand for services like health, education and electricity are soaring. For example, since the beginning of the crisis there has been a 20% increase in water consumption at the national level and a 40% jump in the north. Jordan is the second-most-water-scarce country in the world, so the economic implications of this burden are certain to weigh on foreign investors’ calculations. The global community must share this burden and more tangible support is needed to enhance Jordan’s resilience and maintain its position as the safe haven of the region.”

Abdullah Ensour (1939) prime minister of Jordan

Interview with Prime Minister Abdullah Ensour http://www.oxfordbusinessgroup.com/interview/acting-clear-vision-obg-talks-prime-minister-abdullah-ensour-0, Oxford Business Group.

Health, World, Education, Communication

“In brief, on net balance, machines, technological improvements, economies and efficiency do not throw men out of work.”

Henry Hazlitt book Economics in One Lesson

Economics in One Lesson (1946), The Curse of Machinery (ch. 7)

Men

“I think it is fair to say that 2007 represents a turning point for the Irish economy.”

Brian Cowen (1960) Irish politician

Tansey, Paul and Beesley, Arthur, Tough Budget on way as growth slows down", The Irish Times, 19 October 2007, 2008-05-07 http://www.irishtimes.com/newspaper/frontpage/2007/1019/1192737567227.html, 2007

Thinking

“Observers in earlier epochs might have found it equally preposterous to suppose that the world economy would one day be doubling several times within a single lifespan. Yet that is the extraordinary condition we now take to be ordinary.”

Nick Bostrom book Superintelligence: Paths, Dangers, Strategies

Source: Superintelligence: Paths, Dangers, Strategies (2014), Ch. 1

World, Time

“The Chancellor of the Exchequer should boldly uphold economy in detail; and it is the mark of a chicken-hearted Chancellor when he shrinks from upholding economy in detail, when because it is a question of only two or three thousand pounds, he says it is no matter. He is ridiculed, no doubt, for what is called candle-ends and cheese-parings, but he is not worth his salt if he is not ready to save what are meant by candle-ends and cheese-parings in the cause of the country. No Chancellor of the Exchequer is worth his salt who makes his own popularity either his consideration, or any consideration at all, in administering the public purse. In my opinion, the Chancellor of the Exchequer is the trusted and confidential steward of the public. He is under a sacred obligation with regard to all that he consents to spend.”

William Ewart Gladstone (1809–1898) British Liberal politician and prime minister of the United Kingdom

Speech in Edinburgh (29 November 1879), quoted in Gladstone as Financier and Economist (1931) by F. W. Hirst, p. 243
1870s

Question, Heart, Country

“In this consists the difference between the character of a miser and that of a person of exact economy and assiduity. The one is anxious about small matters for their own sake; the other attends to them only in consequence of the scheme of life which he has laid down to himself.”

Adam Smith book The Theory of Moral Sentiments

Chap. VI.
The Theory of Moral Sentiments (1759), Part III

Life, Personality

“James Carville used to remind Clinton during the '92 campaign that "its the economy, stupid". I say that on the subject of Global Warming: "its the SUN, stupid".”

Anthony Watts (1958) American television meteorologist

It's the Sun, stupid http://wattsupwiththat.com/2007/04/06/its-the-sun-stupid/, wattsupwiththat.com, April 6, 2007. 2007

Stupidity, Sun

“I believe they point to a fundamental truth about our economy. It can seem like a zero sum, when you are competing for a job, a promotion, or a contract if someone wins and someone loses, but that is not the full picture. If you step back, you’ll see we’re all in this together. If we can grow together, we can all rise together. Because, you know what I like to say, we are stronger together, and that’s why the fourth question is key.”

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

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

Truth, Question

“To many Americans, whose only knowledge of the North Star State is that it is intensely cold and populated by Swedes and Holsteins, it will come as a surprise to wake up one morning in 2004 and read in the newspaper, "Half of U. S. Economy Now in Hands of Minnesota."”

Garrison Keillor (1942) American radio host and writer

"Minnesota's Sensible Plan, TIME (11 September 1995) http://prairiehome.publicradio.org/features/deskofgk/950911_time.shtml

Star, Knowledge, Reading

“But the stakes for America are never small. If our country does not lead the cause of freedom, it will not be led. If we do not turn the hearts of children toward knowledge and character, we will lose their gifts and undermine their idealism. If we permit our economy to drift and decline, the vulnerable will suffer most.”

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

2000s, 2001, First inaugural address (January 2001)

Children, Knowledge, Freedom, Suffering

“No serious challenge on the Left exists to Third Way thinking anywhere in the world. This is hardly surprising as globalisation punishes hard any country that tries to run its economy by ignoring the realities of the market or prudent public finances. In this strictly narrow sense, and in the urgent need to remove rigidities and incorporate flexibility in capital, product and labour markets, we are all "Thatcherite" now.”

Peter Mandelson (1953) British Labour politician

"There's plenty of life in the 'new' Third Way yet", The Times, 10 June 2002, p. 16.

World, Way, Thinking, Reality

“We have a crisis in higher education today. Too many of our young people cannot afford a college education and those who are leaving college are faced with crushing debt. It is a national disgrace that hundreds of thousands of young Americans today do not go to college, not because they are unqualified, but because they cannot afford it. This is absolutely counterproductive to our efforts to create a strong competitive economy and a vibrant middle class. This disgrace has got to end. In a global economy, when our young people are competing with workers from around the world, we have got to have the best educated workforce possible. And, that means that we have got to make college affordable. We have got to make sure that every qualified American in this country who wants to go to college can go to college -- regardless of income. Further, it is unacceptable that 40 million Americans are drowning in more than $1.2 trillion in student loan debt. It is unacceptable that millions of college graduates cannot afford to buy their first home or their first new car because of the high interest rates they are paying on student debt. It is unacceptable that, in many instances, interest rates on student loans are two to three times higher than on auto loans.”

Bernie Sanders (1941) American politician, senator for Vermont

Bernie Sanders Statement by Senator Bernard Sanders on the College for All Act http://www.sanders.senate.gov/download/051915-highered/?inline=file (19 May 2015) 2010s, 2015

People, World, Education, Cars

“The central economic imperative of the new economy is to amplify relationships.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

“…the white man is being systematically indoctrinated into believing that he is guilty of enslaving and abusing the Negro. Granted that some Negroes were mistreated as slaves, the fact still remains that nowhere in all history or in the world today has the Negro been better off. The life expectancy of the Negro increased when he was transported to America. He was not taken from freedom into slavery, but from a vicious slavery to degenerate chiefs to a generally benevolent slavery in the United States. There is not the slightest evidence that any American Negro had ever lived in a "free society" in Africa; even the idea did not exist in Africa. The move from Africa to America was a vast increase of freedom for the Negro, materially and spiritually as well as personally. The Negroes were sold from a harsh slavery into a milder one. Slavery was basic to the African way of life, to the point that slaves were the actual money of the African economy. Elsewhere, gold and silver served as money; in Africa, it was slaves…”

Rousas John Rushdoony (1916–2001) American theologian

Source: Writings, Politics of Guilt and Pity (1978), pp. 3-4

Life, Money, World, Way

“It should be illegal to yell 'Y2K' in a crowded economy.”

Larry Wall (1954) American computer programmer and author, creator of Perl

[199811242326.PAA28495@wall.org, 1998]
Usenet postings, 1998

“The Founding Fathers, those who wrote the Constitution and founded the American Republic, they understood the benefits of sound money and the evils of paper money. They’ve put America on a gold standard from the very birth of the republic and we should heed their wise - they were very learned men. I think they were much more educated and understanding about economics then the people who lead the U. S. today. So, to try to suggest that we will have less robust economy if we went back to gold standard - mostly, that’s propaganda from Central Bankers and politicians, who want to scare us from going back to something that works, because when you go back to free market, the politicians and bankers will lose their power, and they want to maintain their power by scaring people into thinking that if we just go back to freedom and market forces, that’s somehow is going to be bad and we have to surrender our freedoms to politicians and bankers because they know much better than the market. They can define the proper rate of interest and they can manage the money supplier, centrally planning the economy, and it’s going to be more effective than free market capitalism - and that is just not the case.”

Peter D. Schiff (1963) American entrepreneur, economist and author

http://blogcritics.org/politics/article/peter-schiff-for-us-senate/http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/
Economic Views

Men, Money, People, Education

“In the network economy the more plentiful things become, the more valuable they become.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

“It is my firm belief that the only satisfactory test of economics is the ability to predict, and in crucial predictive situations such as reconversion after World War II, the settlement of the Korean War, the settlement of the Vietnam War, the abrupt economic policy switch of the Nixon Administration in August 1972, the oil shock of 1973 (forecast of a world-wide succession by LINK), the recession of 1990. In these crucial periods, econometric models outperformed other approaches, yet there is considerable room for improvement, and that is precisely what is being examined in development of high-frequency models that aim to forecast the economy, every week, every fortnight, or every month, depending on the degree of fineness of the information flow.”

Lawrence Klein (1920–2013) American economist

War, World, Success, Dependency

“…the totalitarian states, whether of the fascist or the communist persuasion, are more than superficially alike as dictatorships, in the suppression of dissent, and in operating planned and directed economies. They are profoundly alike.”

Walter Lippmann (1889–1974) American journalist

Quote in The Good Society by Walter Lippmann, Transaction Publications (2005) p. 89. First published in 1937.

“Government, management and unions…have now…jointly embarked for the first time in Britain, on the path of working out together how to create and share the nation's wealth for the benefit of all the people. It is an offer to employers and unions to share fully with the Government the benefits and the obligations involved in running the national economy.”

Edward Heath (1916–2005) Prime Minister of the United Kingdom (1970–1974)

Speech to Conservative Party Conference in Blackpool (14 October 1972), quoted in John Campbell, Edward Heath (London: Jonathan Cape, 1993), pp. 473-474.
Prime Minister

People, Time, Wealth

“It was obvious there would be no return to "normality." The economy wouldn't be coming back. Globalism was over. The politicians and generals were failing to pull things together at the center. We would not be returning to Boston. The computer industry, in which so many hopes had been vested, was fading into history.”

James Howard Kunstler book World Made By Hand

Source: World Made By Hand (2008), Chapter 4, p. 24

Hope, History

“By dissolving nationalities, the liberal economic system had done its best to universalise enmity, to transform mankind into a horde of ravenous beasts (for what else are competitors?) who devour one another just because each has identical interests with all the others – after this preparatory[work there remained but one step to take before the goal was reached, the dissolution of the family. To accomplish this, economy’s own beautiful invention, the factory system, came to its aid.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

Nachdem die liberale Ökonomie ihr Bestes getan hatte, um durch die Auflösung der Nationalitäten die Feindschaft zu verallgemeinern, die Menschheit in eine Horde reißender Tiere - und was sind Konkurrenten anders?
zu verwandeln, die einander ebendeshalb auffressen, WEIL jeder mit allen andern gleiches Interesse hat, nach dieser Vorarbeit blieb ihr nur noch ein Schritt zum Ziele übrig, die Auflösung der Familie. Um diese durchzusetzen, kam ihr eine eigene schöne Erfindung, das Fabriksystem, zu Hülfe.
Outlines of a Critique of Political Economy (1844)

Family, Beauty

“Protocols:
Number 10, paras. 6,7
A scheme of government should come ready made from one brain, because it will never be clinched firmly if it is allowed to split into fractional parts in the minds of many. It is allowable, therefore, for us to have cognizance of the scheme of action but not to discuss it lest we disturb its artfulness, and interdependence of its component parts, the practical force of the secret meaning of each clause. To discuss and make alteration in a labor of this kind by means of numerous votings is to impress upon it the stamp of all ratiocinations and misunderstandings which have failed to penetrate the depth and nexus of its plottings….
These schemes will not turn existing institutions upside down just yet, They will only effect changes in their economy and consequently in the whole combined movement of their progress, which will thus be directed along the paths laid down in our schemes.”

Will Eisner (1917–2005) American cartoonist

The Plot: The Secret Story of the Protocols of the Elders of Zion (10/2/2005)

Secret, Art, Change, Parting

“The encouragement of light-mindedness about traditional philosophical topics serves the same purposes as does the encouragement of light-mindedness about traditional theological topics. Like the rise of large market economies, the increase in literacy, the proliferation of artistic genres, and the insouciant pluralism of contemporary culture, such philosophical superficiality and light-mindedness helps along the disenchantment of the world. It helps make the world’s inhabitants more pragmatic, more tolerant, more liberal, more receptive to the appeal of instrumental rationality.”

Richard Rorty (1931–2007) American philosopher

"The priority of democracy to philosophy"

World, Light, Help

“I am glad that my hon. Friend has raised the problems of the Kurdish people in Iraq, and I am sure that they will be grateful for that. Although the Government may not allow the export of military hardware to Iraq, is it not just as beneficial to the Iraqi Government to be given banking facilities, credits and increased trade? They have exactly the same effect of propping up the Iraqi economy, which is used to finance the war machine that is practising genocide against the Kurdish people.”

Jeremy Corbyn (1949) British Labour Party politician

Question http://hansard.millbanksystems.com/commons/1989/jul/14/foreign-affairs in the House of Commons (14 July 1989). 1980s

War, People, Problem

“Whether the influence of increasing returns on trade and geography is rising or falling, one thing is clear: much was learned from the intellectual revolution that brought increasing returns into the heart of how we think about the world economy. It wasn't just that economists could make sense of previously puzzling data, we found ourselves able to see things that had previously been in an intellectual blind spot. Many people contributed to this process of enlightenment; I'm proud to have been a part of the journey.”

Paul Krugman (1953) American economist

"The Increasing Returns Revolution in Trade and Geography", The American Economic Review (Jun., 2009)

People, World, Thinking, Sense

“Well I'm not sure which ones you're talking about, but I can tell you the people who have looked at the charges that the Obama campaign comes out with, which is that somehow we outsourced jobs, they've said that those were false and misleading. That the ads are inaccurate. Some have given it multiple Pinocchios. The president keeps on trying to divert any attention he can from his failure to turn around the American economy, and that's what this campaign's about. But the president keeps on trying to find something about Bain which is simply not true. And I left Bain in February of 1999. People can point out how - I was in Salt Lake City for three straight years. I don't recall even coming back once to go to a Bain or management meeting. We were, I was out there running the Olympics and it was a full time job, I can tell you that.”

Mitt Romney (1947) American businessman and politician

2012-07-13
http://www.cbsnews.com/8301-250_162-57472298/romney-interview-with-cbs-news-full-transcript/
Romney interview with CBS News: Full transcript
CBS News
2012

People, Failure, Time, Falseness

“Economists’ instincts are that uncertainty about current prices, future prices, and the real meaning of nominal trade-offs between the present and the future; distortions introduced by the failure of government finance to be inflation-neutral; windfall redistributions; and the focusing of attention not on preferences, factors of production, and technologies but on predicting the future evolution of nominal magnitudes must degrade the functioning of the price system and reduce the effectiveness of the market economy at providing consumer utility. The cumulative jump in the price level as a result of the inflation of the 1970s may have been very expensive to the United States in terms of the associated reduction in human welfare.”

J. Bradford DeLong (1960) American economist

Ch. 6 : "America’s Peacetime Inflation: The 1970s" in Reducing Inflation: Motivation and Strategy (1997) edited by Christina D. Romer and David H. Romer

Failure, Future

“It offended his sense of proportion and economy to throw away a ninety-percent serviceable string of lights. It offended his sense of himself, because he was an individual from an age of individuals, and a string of lights was, like him, an individual thing. No matter how little the thing had cost, to throw it away was to deny its value and, by extension, the value of individuals generally: to willfully designate as trash an object that you knew wasn't trash.”

Jonathan Franzen book The Corrections

The Corrections (2001)

Age, Sense, Light

“Let me say it here and now. For all Hunter's mindless self-indulgence, which is legendary and crude, he always impressed me with his blind, selfless urge to cut out the crony bestiality of modern society and the political economy that scarred the era.”

Ralph Steadman book The Joke's Over

Fear And Loathing, p. 67
The Joke's Over (2006)

“The revelation that systems organize on their own sat poorly with the apostles of social sciences—especially political scientists who base their theories on imposing external controls to achieve selected political goals. They are accustomed to thinking about government-produced certainties, not ambiguous probabilities. In their linear calculations, humanity must be physically forced to follow the guiding light of political leaders or flavor-of-the-month ideologies. The economy and human actions must march in step with legislative or dictated law, no matter what the outcome. Yet natural systems do not operate this way.”

L. K. Samuels (1951) American writer

Source: In Defense of Chaos: The Chaology of Politics, Economics and Human Action, (2013), p. 10-11

Law, Way, Nature, Thinking

“What does it matter if China’s economy grows when there are no basic protections for its citizens?”

Ai Weiwei (1957) Chinese concept artist

2000-09, An Artist’s Ordeal. 2009

“[N]either the Civil War nor Reconstruction fit neatly into traditional Marxist frameworks. Both the Civil War and Reconstruction belong to a chapter in American history in which the United States was still an overwhelmingly agricultural economy, and the contest that was waged between 1861 and 1865 was largely an argument (in economic terms) between the free-labor family farm and the slave-labor cotton plantation.”

Allen C. Guelzo (1953) American historian

2010s, Interview with Sara Gabbard (2018)

War, Family, History

“The proletariat needs state power, a centralized organisation of force, an organisation of violence, both to crush the resistance of the exploiters and to lead the enormous mass of the population - the peasants, the petty bourgeoisie, and semi-proletarians - in the work of organising a socialist economy.”

Vladimir Lenin book The State and Revolution

1.1, The Lenin Anthology
The State and Revolution (1917)

“The short step then required to complete the stride consists in recognition of the fact that a contre-relief is an architectonic structure, but the slightest deviation from the plumb-line of economy leads into a blind alley. The same fate must also overtake the architecture of cubist contre-relief... By taking these elements FROM THEM for itself it wants to become equally entitled to take its place alongside them as a new creation. The reference is to the narrow technical discoveries for example the submarine, the aeroplane, the motors and dynamos of every kind of motive power in each part of a battle-ship. Contre-relief is instinctively aware of their legitimate origin their economy of form and their realism of treatment.”

El Lissitsky (1890–1941) Soviet artist, designer, photographer, teacher, typographer and architect

1915 - 1925, Suprematism' in World Reconstruction (1920)

Fate, Motivation, Parting

“The focus of all life is its economy, the mode through which every living creature produces its material existence. I know no other criterion for the evaluation of social life except that of social economy. In society, just like anywhere else, the mode of production is the focus around which revolve all the modes of life: in the historical life of conscious beings, it is also the focus of all modes of consciousness.”

Moses Hess (1812–1875) German philosopher

Hess to Herzen, March 1850, Briefwechsel p. 253
Hess' Diary

Life

“The entire thrust of neoclassical thought is to argue that the free market economy is an efficient system that will optimize utility for all mankind, if only government will get out of the way. It therefore departs from classical economists such as Adam Smith, who recognized the importance of governments for regulating markets and preventing monopolies.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 9, Square Versus Oblong, p. 284

Way, Optimism

“There are three kinds of writing in economics: Greek-letter, up-and-down, and airport. Greek-letter writing formal, theoretical, mathematical is how professors communicate. Like any academic field, economics has its fair share of hacks and phonies, who use complicated language to hide the banality of their ideas; it also contains profound thinkers, who use the specialized language of the discipline as an efficient way to express deep insights. […] Up-and-down economics is what one encounters on the business pages of newspapers, or for that matter on TV. It is preoccupied with the latest news and the latest numbers, hence its name. […] Finally, airport economics is the language of economics bestsellers. These books are most prominently displayed at airport bookstores, where the delayed business traveler is likely to buy them. Most of these books predict disaster: a new great depression, the evisceration of our economy by Japanese multinationals, the collapse of our money. A minority have the opposite view, a boundless optimism: new technology or supply-side economics is about to lead us into an era of unprecedented economic progress. Whether pessimistic or optimistic, airport economics is usually fun, rarely well informed, and never serious.”

Paul Krugman (1953) American economist

Preface
The Age of Diminished Expectations (1990; 1994; 1997)

Money, Books, Way, Travel

“Mathripala Sirisena: The main thing in the 2nd year is the country's economy, because poverty is still prevalent. 22% of the population of this country is malnourished, and 15-17% of the population suffers from diabetes. 7-8% of the population is disabled, disabled by war, natural disaster or other causes. Therefore we must take all these into account. Priority has been given to eradicate poverty, to strengthen people's financial position, to strengthen the national economy.”

Maithripala Sirisena (1951) Sri Lankan politician, 7th President of Sri Lanka

Talk to Al Jazeera - Sri Lankan president: No allegations of war crimes https://www.youtube.com/watch?v=udGmG-eqJ6o

War, People, Nature, Suffering

“We must actively engage in regional economic integration, as Taiwan is an island with few natural resources and a relatively small economy. Taiwan had signed very few free-trade agreements in the past. How can we not be in a hurry to catch up?”

Ma Ying-jeou (1950) Taiwanese politician, president of the Republic of China

Ma Ying-jeou (2014) cited in: " President seeks support for liberalization policies http://www.taipeitimes.com/News/front/archives/2014/01/02/2003580319" in Taipei Times, 2 January 2014. Statement made during 2014 New Year's Day address in commenting Taiwan's fallen economic performance behind many other countries, 1 January 2014. Other topics

Nature, Past

Quotes about economy page 6

Quotes about economy
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