Quotes about economy
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“New York has been, and will continue to be, a magnet for people from all over the world. This is where the arts, business, research and technology converge to create the world's foremost urban economy.”

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

http://www.mikebloomberg.com/en/issues/job_creation/mayor_michael_bloombergs_inaugural_speech
New York City

People, World, Art, Business

“Southerners carried out an asymmetrical kind of political warfare that the rest of the country eventually ran out of patience in confronting. We had the West to win, the Pacific Rim to open, a new economy to create, a catastrophic financial panic to overcome, and in the end, dealing with the political insurgencies of disaffected ex-Confederates simply couldn’t compete.”

Allen C. Guelzo (1953) American historian

2010s, Interview with Sara Gabbard (2018)

Patience, Country

“For approximately 500 years [science's] argument for its pre-eminence was that it could create beautiful toys: aircraft, railroads, global economies, television, spacecraft. But that is a fool’s argument for truth! I mean, that’s after all how a medicine show operates, you know: the juggler is so good, the medicine must be even better! This is not an entirely rational way to proceed.”

Terence McKenna (1946–2000) American ethnobotanist

The World and Its Double

Truth, Beauty, Fools, Way

“With Trump neofascism has entered the White House—its aim is a different way of managing the capitalist economy. It is both a break with neoliberalism and at the same time its successor on the right—a sign of the deep crisis of our times. Not only does the administration stand for climate denialism and has declared environmentalist enemies of the people, it is also threatening to undermine liberal democracy, and is attacking the racially oppressed, immigrants, women, LGBTQ people, environmentalists, and workers. The resistance movement to this thus needs to be a defense of humanity itself in all of its aspects.”

John Bellamy Foster (1953) Sociology professor and Marxist writer

Interview with Left Voice, 2017

Women, People, Way, Democracy

“The foreign policy of the US has been one of "empire building" ever since the First World War. The Constitution authorizes government to provide for "national DE-fense", not "international OF-fense". If Americans were really interested in promoting our national safety, they would realize that a policy of constant foreign intervention directly undermines that stated goal. Our country has military forces stationed in 135 countries around the world, and we are influencing their governments and economies either directly or indirectly in every case. That is the political equivalent of poking them in the eye with a sharp stick. It is little wonder then that dozens of countries and millions of people around the world harbor more than a little resentment against us. The recent mutilation of American civilians is just the beginning of the violence that will be directed toward us if we do not bring our troops home where they belong.”

Michael Badnarik (1954) American software engineer

April 2004

War, People, World, Home

“Freedom can run a monetary system as superbly as it runs the rest of the economy. Contrary to many writers, there is nothing special about money that requires extensive governmental dictation.”

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

What Has Government Done to Our Money? (1980)

Money, Freedom

“The country needs strong leadership and a clear sense of direction, to give confidence to investors, to keep the economy moving, and to keep people in work.”

Theresa May (1956) Prime Minister of the United Kingdom

Speech declaring bid for the Conservative Party leadership http://www.independent.co.uk/news/uk/politics/theresa-mays-tory-leadership-launch-statement-full-text-a7111026.html (30 June 2016)

People, Confidence, Sense, Strong

“Let's stop for a second and remember where we were eight years ago. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm. In fact, Donald was one of the people who rooted for the housing crisis. He said, back in 2006, "Gee, I hope it does collapse, because then I can go in and buy some and make some money." Well, it did collapse…. We have come back from that abyss. And it has not been easy. So we're now on the precipice of having a potentially much better economy, but the last thing we need to do is to go back to the policies that failed us in the first place.”

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

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

Money, People, Hope, Parting

“The economy is so bad, instead of paying for heat, people are huddling around exploding Samsung phones just for the warmth!”

Jimmy Fallon (1974) American TV Personality

Hosting The Tonight Show, October 31, 2016
Unsourced

People

“Some see danger in bigness. They fear the concentration of economic power that it brings with it. That is in a degree true. It simply means, however, that industrial management must expand its horizons of responsibility. It must recognize that it can no longer confine its activities to the mere production of goods and services. It must consider the impact of its operation on the economy as a whole in relation to the social and economic welfare of the entire community. For years I have preached this philosophy. Those charged with great industrial responsibility must become industrial statesmen.”

Alfred P. Sloan (1875–1966) American businessman

Source: "The Broadened Responsibilities of Industry's Executive," 1936, p. 358; Also in Sloan & Sparkes (1941, 145); Partly cited in: Roland Marchand (1997, p. 83)

Fear, Communication

“I am more acquainted with Mr. Pettit's mode of doing business than I am with Mr. Cox's; but I think the public under great obligations to the for mer for his method and economy.”

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

Letter to George Washington (24 April 1779)

Business, Thinking

“When you grow up in the Soviet society under the communists you heard about the one man who is especially dangerous, especially crazy, and absolutely mad, and which would destroy all the human beings and the economies and so on, and this man was called Milton Friedman.”

Mart Laar (1960) Estonian politician and historian

Interview with Stephen J. Dubner, for 'Freakonomics Radio' podcast (24 March 2010)

Madness

“Both in England and on the Continent a graduated property tax (l'impôt progressif) has been advocated, on the avowed ground that the state should use the instrument of taxation as a means of mitigating the inequalities of wealth. I am as desirous as any one that means should be taken to diminish those inequalities, but not so as to relieve the prodigal at the expense of the prudent.To tax the larger incomes at a higher percentage than the smaller is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbours. It is not the fortunes which are earned, but those which are unearned, that it is for the public good to place under limitation.”

John Stuart Mill (1806–1873) British philosopher and political economist

Principles of Political Economy http://www.econlib.org/library/Mill/mlP64.html (1848), Book V, Chapter II

People, Penalty, Wealth

“Experts often arrive at different results, both in fundamental matters, and in application Who does not know of at least one case in his family where one doctor recommends a certain operation, another argues against it, while a third suggests an entirely different procedure? Who has not read of the debates about nuclear safety, the of the economy, the effects of pesticides, aerosol sprays, the efficiency of methods of education, the influence of race on intelligence? Two, three, five and even more views arise in such debates, and scientific supporters can be found for all of them. Occasionally one almost feels inclined to say: as many scientists, as many opinions. There are of course areas in which scientists agree- but this cannot raise our confidence. Unanimity is often the result of a political decision: dissenters are suppressed, or remain silent to preserve the reputation of science as a source of trustworthy and almost infallible knowledge. On other occasions, unanimity is the result of shared prejudices: positions are taken without detail examination of the matter under review and are infused with the same authority that proceeds from detailed research.”

Paul Karl Feyerabend book Science in a Free Society

Source: Science in a Free Society (1978), p. 88.

Education, Family, Feeling, Confidence

“What are those lessons? Instead of building more single-family dwellings, we should build multigenerational, multifamily homes in vibrant eco-villages that share facilities, tools, labor and resources. Instead of designing cities for self-driving, single-person cars, design them for walking, biking, and public transportation with lots of places for people to meet and greet, mix and mingle. Instead of growing an economy dependent on global movements of money, people, and goods to maximize profit uncoupled from place, create economies that bring people together to maximize health and well-being in the place where they live.”

David Korten (1937) writer, sustainability advocate

How the Economy Affects Our Mental Health, September 18, 2018 https://www.yesmagazine.org/new-economy/when-profit-drives-us-community-suffers-20180918

Money, People, Health, Family

“It seems that we are revisiting the whole argument about a European central bank. Many of us have the deepest misgivings about the establishment of such a bank, with no accountability to member states and an office life of eight years, in which it can do what it likes, provided that it supports the market economy throughout Europe, despite the social consequences. There is no time limit on the period of office of the political directors, and there is nothing about who they would be or where they would come from. But I ask the quite serious question: what on earth are these political directors to do, where do they come from, to whom are they answerable and how do we get rid of them if we do not like what they do?”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1993/mar/30/treaty-on-european-union in the House of Commons (30 March 1993). 1990s

Life, Question, Support, Time

“It must be remembered that our State is but in its infancy. That its population is small, and its material wealth is very limited. That notwithstanding it embraces within its boundaries a large area of territory, which includes extensive districts of productive lands, valuable mines of coal, iron, and precious metals, vast quantities of timber, broad rivers, innumerable bays, harbors, and inlets, abounding in fish of the choicest kind sufficient to supply the markets of the world, yet its resources are comparatively undeveloped. And that while it possesses all the elements of grandeur and magnificence, its greatness can not be successfully achieved without the benefit of a well regulated government, whose foundation is laid upon the broad principles of honesty, economy, and justice.”

W. W. Thayer (1827–1899) American judge

W. W. Thayer (1880). Governor William W. Thayer - Biennial Message, 1880 http://records.sos.state.or.us/ORSOSWebDrawer/Recordpdf/6777837. Oregon State Archives, Oregon Secretary of State. Source: Messages and Documents, Biennial Message of Gov. William Thayer to the Legislative Assembly, 1880, Salem, Oregon, W.P. Keady, State Printer, 1880.

World, Justice, Fish, Wealth

“The behavioral foundations of capitalism do, of course, continue to engage attention, and the pursuit of self-interest still occupies a central position in theories about the workings and successes of capitalism. But in these recent theories, interests are given a rather different—and much more "positive"—role in promoting efficient allocation of resources through informational economy as well as the smooth working of incentives, rather than the negative role of blocking harmful passions.”

Amartya Sen (1933) Indian economist

1990s, Foreword to The Passions and the Interests (1996)

Behavior, Passion, Success

“Is this a real blue-collar bar or a simulacrum thereof?”
“Both. It started out as a pure simulacrum, a few years ago, before the economy crashed, when it was hip for twentysomethings to move down here and dress in Carhartts and Utilikilts. But they did such a good job of it that actual blue-collar people began to show up. And then the economy did crash, and the hip people discovered that they were, in actual point of fact, blue collar, and probably always would be. So you’ve got guys here who run lathes. But they have colored Mohawks and college degrees, and they program the lathes in computer languages. I was trying to come up with a name for them. Cerulean-collar workers, maybe.”
“Do a lot of people stop by here on their way to the private jet terminal?”
“You’d be surprised.”

Neal Stephenson book Reamde

Day 17, Seattle
Reamde (2011), Part II: American Falls

People, Color, Way, Guy

“If Walter Bagehot was right that “one of the greatest pains to human nature is the pain of a new idea,” Ken caused an extraordinary amount of pain. Both in his economic thinking and in his political activities, he was dedicated to resisting, and where possible overturning, what he famously called “conventional wisdom” (one of his many turns of phrase that have since become commonplace locutions). Rejecting the standard economic theory based on small, anonymous households and firms that autonomously engage in perfectly functioning markets, Ken instead saw an economic stage dominated by large, nameable actors: big business, big labor, big government. Sorting out their roles and respective power was central to his analysis, and the continually shifting tensions in the interplay among them—“countervailing power” in another of his deft phrases—was the real story of how an economy behaved.”

Amartya Sen (1933) Indian economist

Stephen A. Marglin, Richard Parker, Amartya Sen, and Benjamin M. Friedman, “John Kenneth Galbraith”, Harvard Gazette (February 7, 2008)
2000s

Wisdom, Pain, Idea, Business

“Americans are sacrificing. I mean, we are. You know, we pay a lot of taxes. Americans sacrificed when they, you know, when the economy went into the tank. Americans sacrificed when, you know, air travel was disrupted. American taxpayers have paid a lot to help this nation recover. I think Americans have sacrificed.”

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

In response to reporter Brian Williams' question as to whether, after 9/11, the president should have asked all Americans to sacrifice for their country, NBC News interview, August 29, 2006 http://www.youtube.com/watch?v=SNIOmbm3KYg&feature=related 2000s, 2006

Travel, Thinking, Help

“The rate of change in the business world is not going to slow down anytime soon. If anything, competition in most industries will probably speed up over the next few decades. Enterprises everywhere will be presented with even more terrible hazards and wonderful opportunities, driven by the globalization of the economy along with related technological and social trends”

John P. Kotter (1947) author of The heart of Change

Source: The Heart of Change, (2002), p. 130 (in 21013 edition)

World, Business, Change, Speed

“In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

“It really comes down to parsimony, economy of explanation. It is possible that your car engine is driven by psychokinetic energy, but if it looks like a petrol engine, smells like a petrol engine and performs exactly as well as a petrol engine, the sensible working hypothesis is that it is a petrol engine.”

Richard Dawkins (1941) English ethologist, evolutionary biologist and author

The Richard Dimbleby Lecture: Science, Delusion and the Appetite for Wonder (1996)

Cars

“In the network economy, success is self-reinforcing; it obeys the law of increasing returns. The great innovation of Silicon Valley is not the wowie-zowie hardware and software it has invented. Silicon Valley's greatest "product" is the social organisation of its companies, and most important, the tangled web of former jobs, intimate colleagues, information leakage from one firm to the next, rapid company life cycles, and agile e mail culture. This social web, suffused into the warm hardware of jelly bean chips and copper neurons, creates a network 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)

Life, Law, Success

“The blunt truth about the politics of climate change is that no country will want to sacrifice its economy in order to meet this challenge.”

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

Address to the 2005 G8 climate change summit in London, as reported by David Adam, "Blair signals shift over climate change", http://www.theguardian.com/environment/2005/nov/02/greenpolitics.frontpagenews The Guardian, 1 November 2005. 2000s

Truth, Change, Country

“Economy is the art of making the most of life. The love of economy is the root of all virtue.”

George Bernard Shaw (1856–1950) Irish playwright

Source: 1900s, Man and Superman (1903), p. 235

Love, Life, Art

“One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation… The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.”

Tjalling Koopmans (1910–1985) Dutch American economist

Source: Three Essays (1957), p. 53, as cited in: Harold Kincaid, ‎Don Ross (2009) The Oxford Handbook of Philosophy of Economics. p. 128

Optimism, Decision, Loss

“When two-thirds or three-quarters of the C. E. O. s in Silicon Valley are from South Asia or from Asia, I think. . . A country is more than an economy. We’re a civic society.”

Steve Bannon (1953) American media executive and former White House Chief Strategist for Donald Trump

Breitbart News Daily - Donald Trump - November 5, 2015 https://soundcloud.com/breitbart/breitbart-news-daily-donald-trump-november-5-2015#t=16:38

Thinking, Country

“My noble friend Lord Morrison of Lambeth rather suggested that it was a really good Socialist policy to join up with these countries. I do not think that comes into it very much. They are not Socialist countries, and the object, so far as I can see, is to set up an organisation with a tariff against the rest of the world within which there shall be the freest possible competition between, capitalist interests. That might be a kind of common ideal. I daresay that is why it is supported by the Liberal Party. It is not a very good picture for the future…I believe in a planned economy. So far as I can see, we are to a large extent losing our power to plan as we want and submitting not to a Council of Ministers but a collection of international civil servants, able and honest, no doubt, but not necessarily having the best future of this country at heart…I think we are parting, to some extent at all events, with our powers to plan our own country in the way we desire. I quite agree that that plan should fit in, as far as it can, with a world plan. That is a very different thing from submitting our plans to be planned by a body of international civil servants, no doubt excellent men. I may be merely insular, but I have no prejudice in a Britain planned for the British by the British. Therefore, as at present advised, I am quite unconvinced either that it is necessary or that it is even desirable that we should go into the Common Market.”

Clement Attlee (1883–1967) Former Prime Minister of the United Kingdom

Speech http://hansard.millbanksystems.com/lords/1962/aug/02/britain-and-the-common-market in the House of Lords on the British application to join the Common Market (2 August 1962). Later life

Men, World, Way, Support

“The economy is so bad, I saw Matthew McConaughey talking to himself in a Kia! THAT'S how bad it is!”

Jay Leno (1950) American comedian, actor, writer, producer, voice actor and television host

Guest monologue on The Tonight Show http://www.hollywoodreporter.com/live-feed/jay-leno-takes-jimmy-fallons-867267, 3 April, 2017 The Tonight Show

“20 years ago it would not have been possible for the world's economy to be run using a “mark.” Computer chip implants are now common and it is totally possible to eliminate cash, credit cards, checks, debit cards and go to all electronic transactions. Anyone who doesn't “go along to get along” will not be welcome on the planet. Have you seen the commercials where everyone is dancing smoothly through the checkout line buying their food until one idiot wants to pay with CASH? It “messes up the smooth flow” of things for everyone. Those commercials are psychological preparations for people to accept the mark. Watch for many more to be on TV!”

Kent Hovind (1953) American young Earth creationist

Source: What On Earth Is About To Happen… For Heaven’s Sake? (2013), p. 145

People, World, Food, Dance

“He’d gone to Walden in the hope of achievement. There, of course, he failed because in a free economy industrialists consider that freedom is the privilege to be stupid without penalty. In other than free economies, of course, stupidity is held to be the duty of administrators. But Hoddan now believed himself in the fascinating situation of having knowledge and abilities which were needed by people who knew their need.”

Murray Leinster book The Pirates of Zan

Source: The Pirates of Zan (1959), Chapter 10

People, Stupidity, Penalty, Hope

“You go back and you say, hey, guess what, the economy just crashed, I'm going to give you back half. I like debt for me, I don't like debt for the country. I like debt for my company, but I don't like debt for the country. For the country we have $19 trillion in debt, it's going to be very soon $21 trillion, not billion, $21 trillion in debt. And I will tell you we are sitting on a time bomb and Hillary Clinton doesn't have a clue. And President Obama has pretty much doubled the debt since he's been in office and somebody's going to pay a big price. We have to start chopping that debt down. … I wouldn't renegotiate the debt.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, June Source: In an interview with CBS This Morning Norah O'Donnell http://www.dailywire.com/news/6824/trump-yeah-so-ill-declare-america-bankrupt-james-barrett (June 22, 2016)

Time, Country

“… we are approaching a time when, in Moravec's words, 'almost all humans work to amuse other humans.' In rich countries, that time has already arrived. The old industries have been exported to the developing world. At home, new occupations have evolved, replacing those of the industrial era. Many of them satisfy needs that in the past were repressed or disguised. A thriving economy of psychotherapists, designer religions and spiritual boutiques has sprung up. Beyond that, there is an enormous grey economy of illegal industries supplying drugs and sex. The function of this new economy, legal and illegal, is to entertain and distract a population which - though it is busier than ever before - secretly suspects that it is useless. Industrialisation created the working class. Now it has made the working class obsolete. Unless it is cut short by ecological collapse, it will eventually do the same to nearly everyone.”

John Gray book Straw Dogs: Thoughts on Humans and Other Animals

Non-Progress: An Irony of History (p. 160)
Straw Dogs: Thoughts on Humans and Other Animals (2002)

World, Religion, Sex, Home

“And they might even have a black president but he’s useless, Cause he does not control the economy stupid”

Immortal Technique (1978) American rapper and activist

The 3rd World
Albums, The 3rd World (2008)

Stupidity

“With Americans worried about losing their jobs, their savings, their homes and their chance at the American Dream, the New Direction Congress will work in a bipartisan way to lift our economy and help America's middle class.”

Nancy Pelosi (1940) American politician, first female Speaker of the House of Representatives, born 1940

[Pelosi Statement on Fiscally Responsible Recovery Package to Lift Economy and Help the Middle Class, October 15, 2008, http://web.ebscohost.com/ehost/detail?vid=4&hid=112&sid=e9e82631-01bc-425d-b19f-38189788ba53%40sessionmgr107&bdata=JnNpdGU9ZWh, 2008-11-08]
2000s

Dreams, Way, Home, Chance

“Don’t ask from whom the economy hides; it hides from you!”

Fred E. Foldvary (1946) American economist

"Somewhere Hidden Something Goes." The Progress Report http://www.progress.org/2009/fold646.htm (January 3, 2010) The Progress Report

“The driving force in the world economy is fast becoming a global confederation of productive vanguards. The vanguards established in different parts of the world drive one another forward. They trade with one another. They transfer personnel, technology, and organizational practices among themselves. Above all, they emulate one another.”

Roberto Mangabeira Unger (1947) Brazilian philosopher and politician

Source: Democracy Realizedː The Progressive Alternative (1998), p. 32

World, Parting

“If our commitment to remain an open society is one of the pillars of our nationhood, the other is our commitment to remain an open economy. An economy that guarantees the freedom of enterprise, respects individual creativity, and at the same time mobilizes public investment for social infrastructure and the development of human capabilities. Indeed, it would be no exaggeration to suggest that these are the principles to which all countries will increasingly want to adhere. In relating to the world, we must never lose sight of this vital aspect of our Nationhood.”

Manmohan Singh (1932) 13th Prime Minister of India

As quoted in "Speech by Prime Minister Dr. Manmohan Singh at India Today Conclave, New Delhi" http://www.mea.gov.in/Speeches-Statements.htm?dtl/2464/, Ministry of External Affairs (India) (25 February 2005) 2001-2005

World, Freedom, Time, Country

“I think there are things of which I and the people who have worked with me can feel deservedly proud. They include restoring Russia's territorial integrity, strengthening the state, progress towards establishing a multiparty system, strengthening the parliamentary system, restoring the Armed Forces' potential and, of course, developing the economy. As you know, our economy has been growing by 6.9 percent a year on average over this time, and our GDP has increased by 7.7 percent over the first four months of this year alone.
When I began my work in the year 2000, 30 percent of our population was living below the poverty line. There has been a two-fold drop in the number of people living below the poverty line since then and the figure today is around 15 percent. By 2009-2010, we will bring this figure down to 10 percent, and this will bring us in line with the European average.
We had enormous debts, simply catastrophic for our economy, but we have paid them off in full now. Not only have we paid our debts, but we now have the best foreign debt to GDP ratio in Europe. Our gold and currency reserve figures are well known: in 2000, they stood at just $12 billion and we had a debt of more than 100 percent of GDP, but now we have the third-biggest gold and currency reserves in the world and they have increased by $90 billion over the first four months of this year alone.
During the 1990s and even in 2000-2001, we had massive capital flight from Russia with $15 billion, $20 billion or $25 billion leaving the country every year. Last year we reversed this situation for the first time and had capital inflow of $41 billion. We have already had capital inflow of $40 billion over the first four months of this year. Russia's stock market capitalisation showed immense growth last year and increased by more than 50 percent. This is one of the best results in the world, perhaps even the best. Our economy was near the bottom of the list of world economies in terms of size but today it has climbed to ninth place and in some areas has even overtaken some of the other G8 countries' economies. This means that today we are able to tackle social problems. Real incomes are growing by around 12 percent a year. Real income growth over the first four months of this year came to just over 18 percent, while wages rose by 11-12 percent.
Looking at the problems we have yet to resolve, one of the biggest is the huge income gap between the people at the top and the bottom of the scale. Combating poverty is obviously one of our top priorities in the immediate term and we still have to do a lot to improve our pension system too because the correlation between pensions and the average wage is still lower here than in Europe. The gap between incomes at the top and bottom end of the scale is still high here – a 15.6-15.7-fold difference. This is less than in the United States today (they have a figure of 15.9) but more than in the UK or Italy (where they have 13.6-13.7). But this remains a big gap for us and fighting poverty is one of our biggest priorities.”

Vladimir Putin (1952) President of Russia, former Prime Minister

When asked in June 2007 at the interview with G8 journalists about main achievements of his presidency http://web.archive.org/web/20070607221025/http://www.kremlin.ru/eng/speeches/2007/06/04/2149_type82916_132772.shtml.

People, World, Feeling, Problem

“Every time we witness an injustice and do not act, we train our character to be passive in its presence and thereby eventually lose all ability to defend ourselves and those we love. In a modern economy it is impossible to seal oneself off from injustice. If we have brains or courage, then we are blessed and called on not to frit these qualities away, standing agape at the ideas of others, winning pissing contests, improving the efficiencies of the neocorporate state, or immersing ourselves in obscuranta, but rather to prove the vigor of our talents against the strongest opponents of love we can find. If we can only live once, then let it be a daring adventure that draws on all our powers. Let it be with similar types whos hearts and heads we may be proud of. Let our grandchildren delight to find the start of our stories in their ears but the endings all around in their wandering eyes. The whole universe or the structure that perceives it is a worthy opponent, but try as I may I can not escape the sound of suffering. Perhaps as an old man I will take great comfort in pottering around in a lab and gently talking to students in the summer evening and will accept suffering with insouciance. But not now; men in their prime, if they have convictions are tasked to act on them.”

Julian Assange (1971) Australian editor, activist, publisher and journalist

[Witnessing, 2007-01-03, 2012-08-16, http://web.archive.org/web/20071020051936/http://iq.org/#Witnessing]

Love, Men, Idea, Courage

“Seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.”

Joseph E. Stiglitz (1943) American economist and professor, born 1943.

Autobiographical Essay (2001)

Way, Help

“The criticism of the reformers was directed not so much at the weakness or cruelty of those in authority, as at a bad economy of power.”

Michel Foucault book Discipline and Punish

Source: Discipline and Punish (1977), Chapter Two, pp.. 79

“Many Europeans, while admiring the strength and power of the American economy, undoubtedly feel that the system of social values which prevails in the United States, manifested in the acute problems evident in the inner cities and the level of violent crime, for example, leaves much to be desired.”

Paul Ormerod book The Death of Economics

Source: The Death of Economics (1994), Chapter 10, Economics Revisited, p. 206

Feeling, Problem

“One of the most powerful engines of development and prosperity is trade and investment, which create new opportunities for entrepreneurs, and help people rise out of poverty, and reinforce fundamental values like transparency and rule of law. For all these reasons, many in these chambers have conducted free trade agreements at bilateral and regional levels. The most effective step of all would be an agreement that tears down trade barriers at the global level. The recent impasse in the Doha round is disappointing, but that does not have to be the final word. I urge every nation to seize this opportunity to lift up economies around the world and reach a successful Doha agreement as soon as possible. Beyond Doha, our nations must renew our commitment to open economies, and stand firm against economic isolationism. These objectives are being tested by turbulence in the global financial markets. Our economies are more closely connected than ever before, and I know that many of you here are watching how the United States government will address the problems in our financial system.”

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

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

People, World, Law, Disappointment

“Capitalism must be regarded as an economy of unpaid costs, ‘unpaid’ in so far as a substantial portion of the actual costs of production remains unaccounted for in entrepreneurial outlays; instead they are shifted to, and ultimately borne by, third persons or by the community as a whole.”

Karl William Kapp (1910–1976) American economist

Source: Social Costs of Business Enterprise, 1963, p. 231. Cited in: Rania Ghosn (2012) "Where are the Missing Spaces? The Geography of some Uncommon Interests" in the Yale Architectural Journal Perspecta. Perspecta 45.

Communication, Personality

“America is now a socialist economy. The definition of a socialist economy is when 50% or more of your economy is dependent on the federal government.”

Christine O'Donnell (1969) American Tea Party politician and former Republican Party candidate

campaign speech, December 6, 2009
Christine O'Donnell on socialismin America
YouTube
2009-12-06
http://www.youtube.com/watch?v=gFisw16di3w
2010-10-20
2010 Delaware US Senate race

Dependency

“One of these is an increasing awareness of the benefits to our economy, particularly in terms of investment and enterprise, both local and from overseas, of not having the inquisitorial type of tax system inevitably associated with a full income tax. Another is that even I, who have always believed in the vigour of our economy under our present tax regime, have been surprised by the growth of revenue generated at our present tax rates.”

John James Cowperthwaite (1915–2006) British colonial administrator

March 29, 1967, page 248.
Official Report of Proceedings of the Hong Kong Legislative Council

“The belief that a capitalist economy is inherently stabilising is also one for which inhabitants of market economies may pay dearly in the future.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 9, The Sum Of The Parts, p. 213

Future

“We have allowed the worship of Satanism in the U. S. military, most Americans are not aware of that, and we wonder why it takes us ten years to defeat our weak enemies as Moses said in Deuteronomy 28. How is it that in World War II we whipped the world in four years and now we’re bogged down in one lingering war after another that does nothing but rape our economy and kill our young men? Why? Maybe the God of Heaven is not with us. He says when you accept another God, I leave. I’m either the only Lord, or you’re on your own. That means stop voting for pagans and putting them in public office.”

John Hagee (1940) American pastor, theologian and saxophonist

Hagee: U.S. Can't Win Wars Because Of Satan Worship
Right Wing Watch
People for the American Way
2011-07-18
Brian
Tashman
http://www.rightwingwatch.org/content/hagee-us-cant-win-wars-because-satan-worship
2011-08-06

Men, God, War, World

“Executives must have a practical knowledge of how to observe, record, analyze and compare essential facts in relation to… all… that enters into or affects the economy of production, the costs of the product.”

Henry R. Towne (1844–1924) American engineer

Attributed to Henry R. Towne in: William Kent (1914) Investigating an Industry: A Scientific Diagnosis of the Diseases of Management, p. 3
Comment: William Kent mentions the "The Engineer as an Economist," (1886) as the source.

Knowledge

“By the year 2000 we should be able to say that we have learned to live securely, in peace and mutual prosperity among our Asian and Pacific neighbours. We will not be cut off from our British and European cultures and traditions or from those economies. On the contrary, the more engaged we are economically and politically with the region around us, the more value and relevance we bring to those old relationships. Far from putting our identity at risk, our relationships with the region will energise it.”

Paul Keating (1944) Australian politician, 24th Prime Minister of Australia

Election campaign launch, February 14, 1996.

Peace, Learning

“We are going through a crucial historical crisis in which each year poses more acutely the global problem of rationally mastering the new productive forces and creating a new civilization. Yet the international working-class movement, on which depends the prerequisite overthrow of the economic infrastructure of exploitation, has registered only a few partial local successes. Capitalism has invented new forms of struggle (state intervention in the economy, expansion of the consumer sector, fascist governments) while camouflaging class oppositions through various reformist tactics and exploiting the degenerations of working-class leaderships. In this way it has succeeded in maintaining the old social relations in the great majority of the highly countries, but must develop conflicts posing the question of power everywhere.”

Guy Debord (1931–1994) French Marxist theorist, writer, filmmaker and founding member of the Situationist International (SI)

About the Situationist International movement
Report on the Construction of Situations (1957)

Way, Question, Problem, Success

“You marvel at the economy and this choice of words. How many ways can you describe the sky and the moon? After Sylvia Plath, what can you say?”

Toni Morrison (1931–2019) American writer

On British mystery writer Ruth Rendell, The New York Times (6 October 2005)

Way

“To understand the economy then is to comprehend how it is driven by the animal spirits. Just as Adam Smith’s invisible hand is the keynote of classical economics, Keynes’ animal spirits are the keynote to a different view of the economy — a view that explains the underlying instabilities of capitalism.”

Robert J. Shiller book Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism

George Akerlof and Robert Shiller. Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, 2009, Preface

Understanding, Animals

“In a capitalist country foreign trade, like any other trade, is carried on by individual firms, and individual firms cannot be guided in their activities by "global"considerations, by concern with the impact of their operations on the economy as a whole.”

Paul A. Baran (1909–1964) American Marxist economist

Source: The Political Economy Of Growth (1957), Chapter Four, Standstill and Movement Under Monopoly Capitalism, II, p. 110

Country

“Despite the fact that it is quite obvious, EU leaders do not want to admit that they will lose to America and China, superpowers with strong economies in the West and the East, if they do not come together with, or, at least, improve relations with Russia.”

Hannu Salama (1936) Finnish writer

Strong

“This new model of development would be based clearly on the goal of sustainable human well-being. It would use measures of progress that clearly acknowledge this goal. It would acknowledge the importance of ecological sustainability, social fairness, and real economic efficiency. Ecological sustainability implies recognizing that natural and social capital are not infinitely substitutable for built and human capital, and that real biophysical limits exist to the expansion of the market economy.”

Robert Costanza (1950) American economist

Source: Toward a New Sustainable Economy, 2008, p. 45

Nature

“The actual effect of Rawls’s theory is to undercut theoretically any straightforward appeal to egalitarianism. Egalitarianism has the advantage that gross failure to comply with its basic principles is not difficult to monitor, There are, to be sure, well-known and unsettled issues about comparability of resources and about whether resources are really the proper objects for egalitarians to be concerned with, but there can be little doubt that if person A in a fully monetarized society has ten thousand times the monetary resources of person B, then under normal circumstances the two are not for most politically relevant purposes “equal.” Rawls’s theory effectively shifts discussion away from the utilitarian discussion of the consequences of a certain distribution of resources, and also away from an evaluation of distributions from the point of view of strict equality; instead, he focuses attention on a complex counterfactual judgment. The question is not “Does A have grossly more than B?”—a judgment to which within limits it might not be impossible to get a straightforward answer—but rather the virtually unanswerable “Would B have even less if A had less?” One cannot even begin to think about assessing any such claim without making an enormous number of assumptions about scarcity of various resources, the form the particular economy in question had, the preferences, and in particular the incentive structure, of the people who lived in it and unless one had a rather robust and detailed economic theory of a kind that few people will believe any economist today has. In a situation of uncertainty like this, the actual political onus probandi in fact tacitly shifts to the have-nots; the “haves” lack an obvious systematic motivation to argue for redistribution of the excess wealth they own, or indeed to find arguments to that conclusion plausible. They don't in the same way need to prove anything; they, ex hypothesi, “have” the resources in question: “Beati possidentes.””

Raymond Geuss (1946) British philosopher

“Liberalism and its Discontents,” pp. 22-23.
Outside Ethics (2005)

People, Way, Motivation, Failure

“[You know you are in a part of the economy dealing with grants instead of exchange when] A gives B something and B does not give A anything in the way of an economic good.”

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

McCloskey (2013) commented earlier: "Boulding invented what he called, infelicitiously, "grants economics" (he might better have used the anthropologist's term gifts, or even the theologian's term grace... It's an idea about the economy, but draws the attention of economists to exactly what they do not attend to when thinking of exchange alone." Source: 1970s, The Economy of Love and Fear, 1973, p. i as cited in: Deirdre Nansen McCloskey (2013) What Boulding Said Went Wrong with Economics, A Quarter Century On http://www.deirdremccloskey.com/editorials/boulding.php

Way, Parting

“I was informed this afternoon by the distinguished Secretary of the Treasury that his preliminary estimates indicate that our balance of payments deficit has been reduced from $2.8 billion in 1964 to $1.3 billion, or less, in 1965. This achievement has been made possible by the patriotic voluntary cooperation of businessmen and bankers working with your government. We must now work together with increased urgency to wipe out this balance of payments deficit altogether in the next year. And as our economy surges toward new heights we must increase our vigilance against the inflation which raises the cost of living and which lowers the savings of every family in this land. It is essential, to prevent inflation, that we ask both labor and business to exercise price and wage restraint, and I do so again tonight. I believe it desirable, because of increased military expenditures, that you temporarily restore the automobile and certain telephone excise tax reductions made effective only 12 days ago. Without raising taxes—or even increasing the total tax bill paid—we should move to improve our withholding system so that Americans can more realistically pay as they go, speed up the collection of corporate taxes, and make other necessary simplifications of the tax structure at an early date.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

1960s, State of the Union Address (1966)

Family, Exercises, Business, Speed

“Canada was built from its very beginnings on the belief that public leadership in the economy and on social issues would be as effective and cheap as anything done by the private sector.”

John Ralston Saul (1947) Canadian author and essayist

Reflections of a Siamese Twin (1997)

“The superiority of the woman was not a fancy but a fact. Man's business was to fight, or hunt, or feast or make love. The man was also the travelling partner in commerce, commonly absent from home for months together, while the woman carried on the business. The woman ruled the household and the workshop; cared for the economy; supplied the intelligence and dictated the taste. Her ascendancy was secured by her alliance with the Church, into which she sent her most intelligent children; and a priest or clerk, for the most part, counted socially as a woman. Both physically and mentally the woman was robust, as the men often complained, and she did not greatly resent being treated as a man. Sometimes the husband beat her, dragged her about by the hair, locked her up in the house; but he was quite conscious that she always got even with him in the end. As a matter of fact, probably she got more than even. On this point, history, legend, poetry, romance, and especially the popular Fabliaux,— invented to amuse the gross tastes of the coarser class,— are all agreed, and one could give scores of volumes illustrating it.”

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

Mont Saint Michel and Chartres (1904)

Love, Men, Children, Making love

“In an earlier day, the rich lived at the expense of the poor, directly and unequivocally; in a modern economy, unproductive citizens increasingly live at the expense of productive ones—though in an equivocal way, since they are told, and believe, that they are disadvantaged and deserve more still. Today, in fact, a good half of the population of every modern nation is made up of people with little or no income, who are exempt from taxes and live, to a large extent, off the other half of the population, which pays taxes. If such a situation were to be radicalized, it could give rise to massive social conflict. The eminently plausible free-market thesis of exploitation by the unproductive would then have prevailed over the much less promising socialist thesis of the exploitation of labor by capital.”

Peter Sloterdijk (1947) German philosopher

The Grasping Hand (2010)

People, Way

“At issue is not whether the global economy will pass away. It is passing away. Rising populations and debt combined with depletion of freshwater sources and fossil fuel make the status quo untenable. The only question is whether civil society will survive the transition.”

Daniel Suarez book Freedom™

Source: Freedom™ (2010), Chapter 6: Waymeet

Question

“The optimal scale of the economy is smaller, the greater (a) the degree of complementarity between natural and man-made capital; (b) our desire for direct experience of nature; and (c) our estimate of both the intrinsic and instrumental value of other species. The smaller the optimal scale of the economy, the sooner its physical growth becomes uneconomic.”

Herman E. Daly (1938) American economist

Ecological Economics and the Ecology of Economics: Essays. 1999, p. 20.

Optimism, Nature

“The most important task in my term is to improve the economy.”

Chen Shui-bian (1950) Taiwanese politician

During his campaign for re-election, April 12, 2003
Pet Phrases, 2003

“World peace is in the best interests of everyone. Protectionism is not an option in today’s global economy. Nationalism should not outweigh international cooperation.”

Newton Lee American computer scientist

Google It: Total Information Awareness, 2016

World, Peace

“Poverty is a solved problem - all they have to do is abolish taxes and regulations which cripple those intelligent, capable, and responsible men and women and destroy their productive capacity, then stand back and watch the economy boom.”

L. Neil Smith (1946) American writer

"Merchants of Fear".

Women, Men, Intelligence, Problem

“In the new conditions created by the global economy, the information revolution and the growth of smart technologies, it is more necessary than ever for all companies to be guided by their rich spiritual inheritance, as spiritual enterprises.”

Ted Malloch (1952) American businessman

Source: Doing Virtuous Business (Thomas Nelson, 2011), p. 134.

“The establishment of "The Times" newspaper is an example, on a large scale, of a manufactory in which the division of labour, both mental and bodily, is admirably illustrated, and in which also the effect of domestic economy is well exemplified. It is scarcely imagined, by the thousands who read that paper in various quarters of the globe, what a scene of organized activity the factory presents during the whole night, or what a quantity of talent and mechanical skill is put in action for their amusement and information.”

Charles Babbage On the Economy of Machinery and Manufactures

Source: On the Economy of Machinery and Manufactures, 1832/1841, p. 270; Ch. 28 "Proper circumstances for the application of machinery."

Imagination, Time, Reading, Night

“It is accepted fact that the world has been moving from an economy of goods to an economy of knowledge. And knowledge is the single most important resource to any advanced society.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

World, Knowledge

“Economic theory deals with two concepts, Value and Economy. Abstract reasoning regarding these concepts rests ultimately on mathematical concepts of quantity, time and energy. The three are inseparable, for quantity and time are dimensions of energy. The quantity relationships of energy, usually termed "statics," turn on the problem of the relation of the parts to the whole, while the time relationships, usually termed "dynamics," are the relations of a process that connects past, present and future.”

John R. Commons (1862–1945) United States institutional economist and labor historian

Source: Legal foundations of capitalism. 1924, p. 1; Lead paragraph first chapter on Mechanism, Scarcity, Working Rules

Mathematics, Problem, Time, Past

“At some point it will inevitably crash again: as weapons of mass destruction go, unrestricted market economies are among the more subtle but sure.”

Ian McDonald book The Dervish House

Source: The Dervish House (2010), Ch. 4, §7 (p. 140)

“Why, Stephen, if I am right, it means that the Machine is conducting our future for us not only simply in direct answer to our direct questions, but in general answer to the world situation and to human psychology as a whole. And to know that may make us unhappy and may hurt our pride. The Machine cannot, must not, make us unhappy.
"Stephen, how do we know what the ultimate good of Humanity will entail? We haven't at our disposal the infinite factors that the Machine has at its! Perhaps, to give you a not unfamiliar example, our entire technical civilization has created more unhappiness and misery than it has removed. Perhaps an agrarian or pastoral civilization, with less culture and less people would be better. If so, the Machines must move in that direction, preferably without telling us, since in our ignorant prejudices we only know that what we are used to, is good—and we would then fight change. Or perhaps a complete urbanization, or a completely caste-ridden society, or complete anarchy, is the answer. We don't know. Only the Machines know, and they are going there and taking us with them."
"But you are telling me, Susan, that the 'Society for Humanity' is right; and that Mankind has lost its own say in its future."
"It never had any, really. It was always at the mercy of economic and sociological forces it did not understand—at the whims of climate, and the fortunes of war. Now the Machines understand them; and no one can stop them, since the Machines will deal with them as they are dealing with the Society,—having, as they do, the greatest of weapons at their disposal, the absolute control of our economy."
"How horrible!”

Isaac Asimov book I, Robot

"Perhaps how wonderful! Think, that for all time, all conflicts are finally evitable. Only the Machines, from now on, are inevitable!"
“The Evitable Conflict”, p. 192
I, Robot (1950)

War, People, World, Understanding

“In speaking of agricultural management, the French say, I'economie rurale, and the English, rural economy; and yet neither the one nor the other intend thereby to signify the absolute execution of agricultural operations, but only the division and circumstances or appurtenances of agriculture. In Germany, where a Latin or Greek name has lately been thought to give dignity to a science, and has, consequently, been introduced into the title of most of the scientific works, some authors have begun to term, not only the science of agriculture, but agriculture itself, the oekonomie; and the word is used exclusively in this sense by many persons. It is for this reason that those who are supposed to practise the art with the greatest skill and science, are termed oekonomen (economists); and that some of those who are employed in superintending the labourers, even though they frequently have not the least idea of the actual principles of agriculture, chose to be designated by this title.”

Albrecht Thaer (1752–1828) German agronomist and an avid supporter of the humus theory for plant nutrition

Source: The Principles of Agriculture, 1844, Section II. The Economy, Organization and Direction of an Agricultural Enterprise, p. 55.

Art, Idea, Sense, Science

“Then what you find out is, what humans then do is, they create institutions - that's where institutionalism has a tie with Post Keynesianism - they create institutions which limit outcomes, which permit you to control outcomes as long as the society agrees to live by the rules of the game, which are the rules of the institutions. Now, if society rejects those rules, then society breaks down. What are the rules of the game? Well, money is a rule of the economic game. There are lots of human economic arrangements which don't use money. The family unit solves its economic problems, of what and how to produce within the family, without the use of money and without the use of markets. All the 24 hours of the day are either employed or leisure. There's no involuntary unemployment in the family. So you can solve the problem, but it's a different economy. We are talking about a money-using economy, and money is a human institution. You have to ask yourself, why was it created? Why is it so strange? You see, in Lerner, in neoclassical economics, money is a commodity. It's peanuts, with a very high elasticity of production. If people want more money, that creates just as many jobs as if people want goods. Then you have to say to yourself - and this was the question that Milton Friedman asked me in the debate - he says, 'That's nonsense; Davidson says money is not producible. Why are there historical cases where Indians used beads as money? Aren't beads easily producible?”

Paul Davidson (1930) Post Keynesian economist

But not in the Indian economy. They didn't know how to produce them.
quoted in Conversations with Post Keynesians (1995) by J. E. King

Money, People, Family, Game

“2) "the a of différance also recalls that spacing is temporization, the detour and postponement by means of which intuition, perception, consummation - in a word, the relationship to the present, the reference to a present reality, to a being - are always deferred. Deferred by virtue of the very principle of difference which holds that an element functions and signifies, takes on or conveys meaning, only by referring to another past or future element in an economy of traces. This economic aspect of différance, which brings into play a certain not conscious calculation in a field of forces, is inseparable from the more narrowly semiotic aspect of différance.”

Jacques Derrida book Positions

Source: Positions (1982), p. 28

Reality, Past, Future

“Whether communism is partial or complete, political economy is no more tolerant of it than it is of monopoly, of which it is merely an extension.”

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

Source: The Production of Security (1849), p. 32

Communication

“The sense of shame that the Chancellor should have felt is far more personal. It is a sense of shame for having taken over an economy with a £1,000 million surplus and running it to a £2,000 million deficit. It is a sense of shame for having conducted our internal financial affairs with such profligacy that our public accounts are out of balance as never before. It is a sense of shame for having presided over the greatest depreciation of the currency, both at home and abroad, in our history. It is a sense of shame for having left us at a moment of test far weaker than most of our neighbours…There is, I believe, a greater threat to the effective working of our democratic institutions than most of us have seen in our adult lifetimes. I do not believe that it springs primarily from the machinations of subversively-minded men, although no doubt they are there and are anxious to exploit exploitable situations. It comes much more dangerously from a widespread cynicism with the processes of our political system. I believe that the Chancellor contributed to that on Monday. I believe that it poses a serious challenge to us all…None of us should seek salvation through chaos. There is a duty too to recognise that we could slip into a still worse rate of inflation and a world spiral-ling downwards towards slump, unemployment and falling standards, with our selves, temporarily at least, well in the vanguard. What is required is neither an imposed solution nor an open hand at the till. The alternative to reaching a settlement with the miners is paralysis…The task of statesmanship is to reach a settlement but to do it in a way which opens no floodgates for if they were opened, it would not only damage everyone but it would undermine the differential which the miners deserve and which the nation now needs them to have.”

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

Speech http://hansard.millbanksystems.com/commons/1973/dec/19/economic-and-energy-situation in the House of Commons (19 December 1973) 1970s

Men, World, Way, Home

“The closed economy of the future might similarly be called the 'spaceman' economy, in which the earth has become a single spaceship, without unlimited reservoirs of anything, either for extraction or for pollution, and in which, therefore, man must find his place in a cyclical ecological system”

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

Source: 1960s, The Economics of the Coming Spaceship Earth, 1966, p. 8

Future

“Ten per cent of our neighbours survive on charity. 10 per cent of Canadians eat through charity. 10 per cent. Surely if you were prime minister or minister of trade or of industry, you would wake up each day thinking that, for reasons that escape you, the central policy chosen to drive the economy is not working. It is not working because it is not meeting the needs of a democracy in which legitimacy lies with the citizenry.”

John Ralston Saul (1947) Canadian author and essayist

Reflections of a Siamese Twin (1997)

Democracy, Thinking

“By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.”

Paul Krugman (1953) American economist

"Why most economists' predictions are wrong" http://web.archive.org/web/19980610100009/www.redherring.com/mag/issue55/economics.html, The Red Herring, June 1998

“A green economy begins to replace some of the clunking and chugging of ugly machines with the wise effort of beautiful, skilled people. That means more jobs.”

Van Jones book The Green Collar Economy

The Green Collar Economy (2008)

People, Beauty, Effort

“Publicity is usually explained and justified as a competitive medium which ultimately benefits the public (the consumer) and the most efficient manufacturers - and thus the national economy. It is closely related to certain ideas about freedom: freedom of choice for the purchaser: freedom of enterprise for the manufacturer. The great hoardings and the publicity neons of the cities of capitalism are the immediate visible sign of "The Free World." For many in Eastern Europe such images in the West sum up what they in the East lack. Publicity, it is thought, offers a free choice.”

John Berger book Ways of Seeing

Source: Ways of Seeing (1972), p. 130

World, Idea, Freedom

“I hold that if companies are attacked simply because they are big then an attack on efficiency must be a corollary of that attack. If we penalize efficiency, how can we as a nation compete in the economy of the world at large?”

Alfred P. Sloan (1875–1966) American businessman

Source: My Years with General Motors, 1963, p. 514

World

“Keynesian economics — the go - to theory for those who like government at the controls of the economy — is in the forefront of the ongoing debate on fiscal - stimulus packages. For example, in true Keynesian spirit, Agriculture Secretary Tom Vilsack said recently that food stamps were an "economic stimulus" and that "every dollar of benefits generates $1.84 in the economy in terms of economic activity." Many observers may see how this idea—that one can magically get back more than one puts in — conflicts with what I will call "regular economics."”

Robert Barro (1944) American classical macroeconomist

What few know is that there is no meaningful theoretical or empirical support for the Keynesian position.
Robert J. Barro, "Keynesian Economics vs. Regular Economics" Wall Street Journal (2011).

Food, Idea, Support

“Both Rand and Rothbard, overeager to seal the case for expelling the state from the economy that economic arguments alone apparently could not clinch, had to cast themselves as participants in a Manichean struggle against unscrupulous wrongdoers with impure motives. This already betokened a deep complacency about the validity of their own views, such that anyone who disagreed with them must be a deliberate enemy of truth; and it marked the beginning of the anti-intellectualism that continues to disfigure libertarian thought. The virtually unanimous opposition of scholars and intellectuals to a view as self-evidently true as libertarianism seems to be to Rand and Rothbard must, they thought, be a function of the intellectuals’ perversity”

Jeffrey Friedman (political scientist) (1959) American political scientist

rather than of weaknesses of libertarian argument and evidence
Source: “What’s wrong with Libertarianism”, p. 452

Truth, Motivation

“It is a dreadful picture—this picture of Italy under the rule of the oligarchy. There was nothing to bridge over or soften the fatal contrast between the world of the beggars and the world of the rich. The more clearly and painfully this contrast was felt on both sides—the giddier the height to which riches rose, the deeper the abyss of poverty yawned—the more frequently, amidst that changeful world of speculation and playing at hazard, were individuals tossed from the bottom to the top and again from the top to the bottom. The wider the chasm by which the two worlds were externally divided, the more completely they coincided in the like annihilation of family life—which is yet the germ and core of all nationality—in the like laziness and luxury, the like unsubstantial economy, the like unmanly dependence, the like corruption differing only in its tariff, the like criminal demoralization, the like longing to begin the war with property. Riches and misery in close league drove the Italians out of Italy, and filled the peninsula partly with swarms of slaves, partly with awful silence. It is a terrible picture, but not one peculiar to Italy; wherever the government of capitalists in a slave-state has fully developed itself, it has desolated God's fair world in the same way as rivers glisten in different colours, but a common sewer everywhere looks like itself, so the Italy of the Ciceronian epoch resembles substantially the Hellas of Polybius and still more decidedly the Carthage of Hannibal's time, where in exactly similar fashion the all-powerful rule of capital ruined the middle class, raised trade and estate-farming to the highest prosperity, and ultimately led to a— hypocritically whitewashed—moral and political corruption of the nation. All the arrant sins that capital has been guilty of against nation and civilization in the modern world, remain as far inferior to the abominations of the ancient capitalist-states as the free man, be he ever so poor, remains superior to the slave; and not until the dragon-seed of North America ripens, will the world have again similar fruits to reap.”

Theodor Mommsen (1817–1903) German classical scholar, historian, jurist, journalist, politician, archaeologist and writer

Italy under the Oligarchy
The History of Rome - Volume 4: Part 2

Life, God, War, World

“It's a "hits" economy where resources flow to those that show some life. If a new novel, new product, or new service begins to succeed it is fed more; if it falters its left to wither.”

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)

Life

“I do have the toughest, most comprehensive plan to go after Wall Street. And not just the big banks, all the other financial interests that pose a threat to our economy. And I have said no bank is too big to fail and no executive is too powerful to jail, and I will use the powers that have now been passed by the Congress, by President Obama, who, incidentally, took a lot of money from Wall Street, which didn’t stop him from signing into law the toughest regulations on the financial industry since the Great Depression. There are a lot of different powerful interests in Washington. I’ve taken them on. I took on the drug companies. I took on the insurance companies. Before there was something called Obamacare, there was something called Hillarycare, and I worked really hard to get comprehensive health care reform.”

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)

Money, Law

“If this Government cannot get the adjustment, get manufacturing going again, and keep moderate wage outcomes and a sensible economic policy, then Australia is basically done for. We will end up being a third rate economy…a banana republic.”

Paul Keating (1944) Australian politician, 24th Prime Minister of Australia

Speaking to John Laws on Radio 2GB, May 14, 1986.

“The market remained the generator of demand for goods and services, but modern business enterprise took over the functions of coordinating flows of goods and services through existing processes of production and distribution, and of allocating funds and personnel for future production and distribution. As modern business enterprise acquired functions hitherto carried out by the market, it became the most powerful institution in the American economy and its managers the most influential group of economic decision makers. The rise of modern business enterprise in the United States, therefore, brought with it managerial capitalism.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 1.

Business, Decision, Future