Quotes about market (1646 quotes, page 11)

“There are two kinds of micropower. One is co-gen and combined heat and power. That was about two-thirds of the new capacity and three-quarters of the new electricity last year. The rest was distributed or decentralized renewables, which was a $38 billion U. S. global market last year for selling equipment. That's wind, solar, geothermal, small hydro and biomass…. Micropower surpassed nuclear power in worldwide installed capacity in 2002, and surpassed nuclear in electricity generated per year just in the last few months.”

Amory B. Lovins (1947) American physicist

An interview with Amory Lovins re: Nuclear Power http://a4nr.org/news-and-events/10.22.2006-torontostar

“The number one rule of today's marketing – the key secret of those who seek to control your beliefs and habits in order to take your money, your votes, your time or whatever else it is they desire from you – is to always keep in mind that nobody really believes they can be manipulated.”

Brian Vaszily (1970)

"The One Real Reason You Are Stressed Out, Overweight, Depressed or Angry" http://www.sixwise.com/newsletters/06/04/05/the_one_real_reason_you_are_stressed_out_overweight_depressed_or_angry.htm, SixWise.com, undated (accessed 2006-06-23)

Money , Secret , Time

“Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for common risk factors in returns.”

Eugene Fama (1939) American economist and Nobel laureate in Economics

Source: Common risk factors in the returns on stocks and bonds, 1993, p. 7

Books

“Nothing works all the time and in all kinds of markets.”

George Goodman (1930–2014) American author and economics commentator

Source: The Money Game (1968), Chapter 9, Mr Smith Admits His Biases, p. 104

Time

“[Several] companies holds market share in excess of 50 percent in its prime market. All of them have been able to establish strongholds in the early majority segment, if not beyond, and to look forward from that position to continued growth, wondrously strong profit margins, and increasingly preferred relationships as suppliers to their customers. To be sure, some like Oracle and, more dramatically, Netscape have fallen on hard times, but even then customers often bend over backward to give market share leaders second and third chances, bringing cries of anguish from their competitors who would never be granted such grace.”

Geoffrey Moore book Crossing the Chasm

Source: Crossing the Chasm, 1991, p. 14

Strong , Chance , Time

“All my adult life I have seen British governments driven off their virtuous pursuit of low inflation by market problems or political pressures. I was under no illusions when I took Britain into the ERM. I said at the time that membership was no soft option. The soft option, the devaluer's option, the inflationary option, that would in my opinion be a betrayal of Britain's future.”

John Major (1943) Former Prime Minister of the United Kingdom

Robin Oakley, "Major rejects devaluation as betrayal of the future", The Times, 11 September 1992.
Speech to the Scottish CBI, 10 September 1992, six days before Black Wednesday when the Pound was forced out of the ERM.
1990s, 1992

Life , Problem , Betrayal , Time

“In Daniel 7, Daniel had a vision where “the four winds of the heavens strove upon the great sea. And four beasts came up from the sea, diverse one from another” (vv. 2-3). In the vision, Daniel saw a lion with eagle’s wings, a bear with three ribs in its mouth, a leopard with four wings, and a terrible beast with iron teeth and ten horns (v. 7). Bible scholars have speculated on the meaning of this passage for centuries. Some think the four beasts in this chapter represent a rehash of the first four empires from Babylon to the Roman Empire; while others think it is all yet in the future. I’m no scholar but here is my opinion: I (and many Bible scholars) think the four beasts are four world powers that will “strive” for world power (domination?) at the end of time before the one with ten horns finally becomes dominant. I think the four beasts are interpreted as follows: The lion sometimes standing like a man with eagle’s wings (v. 4) represents England (whose symbol as always been the lion) and America (whose symbol is the eagle) united, as one of four major end-time powers. The eagle’s wings “were plucked” and “it was lifted up from the earth, and made to stand upon the feet as a man, and a man’s heart was given to it” (v. 4). My best guess is that America will soon cease to be a world power (wings plucked) but there will still be enough of a godly influence that the English/American alliance will have some “heart” or compassion and maybe even be able to finally “take a stand” for God in the wicked world. I think the bear (v. 5) is Russia (whose symbol is the bear) and the three ribs in its mouth represent three countries it has dominated or “eaten,” such as Latvia, Lithuania, and Estonia, or perhaps Ukraine, Belarus, and Georgia. The leopard with four wings (v. 6) could be some sort of oriental alliance between China, Japan, Korea, and a Southeast Asia alliance (Vietnam, Laos, Cambodia, Indonesia, Malaysia, India, etc.). Verse 6 says, “dominion was given to it.” Many certainly feel that China is soon to be the major economic (and military) power in the world. If they could get a military or economic alliance with some of the other oriental nations mentioned, they would indeed be a force to be reckoned with! No animal is named for the fourth beast. It is only described as being dreadful, terrible, strong exceedingly, having great iron teeth, different from all other beasts and having ten horns. As I said earlier there are three options from what I can see for this beast. It is either (A) the European Common Market or a future similar alliance; or (B) 10 world regions and (C) some sort of alliance of Muslim nations around the Middle East or the world. I tend to go with option (C)”

Kent Hovind (1953) American young Earth creationist

Source: What On Earth Is About To Happen… For Heaven’s Sake? (2013), p. 94-95

Sea , Thinking , Feeling , Time

“Norms guide market-oriented behaviors within organizations. More specifically, we focus on market orientation as the concrete object of these norms. If, for example, the members of an organization share the value of openness of internal communication, a specific norm related to that value is the openness of market-related internal communication. As another example, the norm of market-related responsibility of employees is a specification of the more general shared value of responsibility of the employees… The difference between values and norms is that norms guide behaviors in a specific context, whereas values represent general guidelines.”

Christian Homburg (1962) German academic

Source: "A multiple-layer model of market-oriented organizational culture", 2000, p. 451

Behavior , Communication

“The question is: why are there markets of food at all?”

Raj Patel (1972) British academic

About global food economy http://www.youtube.com/watch?v=RU5zT1r5Fk8 Marquette University (Retrieved on February 11, 2010.)

Food , Question

“In order to save the forty million inhabitants of the United Kingdom from a bloody civil war, our colonial statesmen must acquire new lands for settling the surplus population of this country, to provide new markets… The Empire, as I have always said, is a bread and butter question.”

Cecil Rhodes (1853–1902) British businessman, mining magnate and politician in South Africa

Quoted in Vladimir Ilyich Lenin, Imperialism, the Highest Stage of Capitalism https://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch06.htm#bkV22P257F01.
[William Simpson, Martin Desmond Jones, Europe, 1783-1914. p. 237, http://books.google.co.uk/books?id=AGxlZbfJdy8C&pg=PA237&lpg=PA237&dq=million, 2000, Europe, 1783-1914, Routledge, 2009-06-13]

War , Question , Country

““The first way lies in the individualism of the market. The second way lies in the hierarchies of the state. A Third Way can be found in the mutualism of network organisations. It is the coming way.””

Mark Latham (1961) Australian politician

Unsourced

Way

“Sir Timothy was a fluent speaker, and when there was nothing to be said was possessed of a great plenty of words. And he was gifted with that peculiar power which enables a man to have the last word in every encounter, — a power which we are apt to call repartee, which is in truth the readiness which comes from continual practice. You shall meet two men of whom you shall know the one to be endowed with the brilliancy of true genius, and the other to be possessed of but moderate parts, and shall find the former never able to hold his own against the latter. In a debate, the man of moderate parts will seem to be greater than the man of genius. But this skill of tongue, this glibness of speech is hardly an affair of intellect at all. It is, — as is style to the writer, — not the wares which he has to take to market, but the vehicle in which they may be carried. Of what avail to you is it to have filled granaries with corn if you cannot get your corn to the consumer? Now Sir Timothy was a great vehicle, but he had not in truth much corn to send.”

Anthony Trollope book The Duke's Children

Source: The Duke's Children (1879), Ch. 26

Men , Truth , Parting

“…protection of the home market? That has made mass production possible.”

Stanley Baldwin (1867–1947) Former Prime Minister of the United Kingdom

Conversation with Thomas Jones (30 April 1936), quoted in Thomas Jones, A Diary with Letters. 1931-1950 (Oxford University Press, 1954), p. 192
1936

Home

“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”

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

As quoted in "Great Money Minds" by Chris Stallman at TeenAnalyst.com (5 May 2005) http://www.teenanalyst.com/general/topmoneyminds.html

Money

“In the Treatise we are shown the bond-market as it exists in real life: a speculative market where a price, with an identity and a momentary stability, can only exist if there are two camps of dealers holding opposite views of the impending movement of bond prices.”

G. L. S. Shackle (1903–1992) British economist

Source: Epistemics and Economics. (1972), p. 162

Life

“But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour.”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 5, The Rate of Interest, p. 46

Business

“Banks are unprofitable because they make too many bad loans and their good loans have little profit in them. They also have the dubious advantage of an awful set of accounting conventions—“a rolling loan gathers no loss”—that permits them to mask their mistakes and hold assets without marking their value to market. Spreads are narrow, costs are high and there is too much reliance on insured deposits, with the accompanying incentive to take risks with someone else's money.”

Eugene Rotberg (1930)

“Speech on Banking Systems for the New York Times and Glass Steagall." http://www.generotberg.com/speeches/1990s/Banking%20System%20article%201990s.pdf. (1990)

Money , Loss

“It is my contention that limited government is a floating abstraction which has never been concretized by anyone; that a limited government must either initiate force or cease being a government; that the very concept of limited government is an unsuccessful attempt to integrate two mutually contradictory elements: statism and voluntarism. Hence, if this can be shown, epistemological clarity and moral consistency demands the rejection of the institution of government totally, resulting in free market anarchism, or a purely voluntary society.”

Roy A. Childs, Jr. (1949–1992) American libertarian essayist and critic

“Objectivism and the State: An Open Letter to Ayn Rand,” 1969

“Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.”

Nicholas Barr (1943) British economist

Source: Economics Of The Welfare State (Fourth Edition), Chapter 4, State Intervention, p. 73

Perfection

“The notion that human interaction could spontaneously and autonomously achieve a stable, orderly, self-sustaining form of equilibrium in the absence of government intervention—what François Quesnay and the first school of économistes dubbed un ordre naturel in the late 1750s—has facilitated a conception of the market as a self-regulating system that could only prosper by purging itself of the prejudicial meddling of governments and politics. In the face of this new conception of an orderly market, governance would be relegated outside that autonomous space, charged with the responsibility of policing and punishing those who deviate—those who do not see the natural laws or, in more technical jargon, who bypass the market.”

Bernard Harcourt (1963) American academic

Source: The Illusion of Free Markets: Punishment and the Myth of Natural Order (2011), p. 241

School , Law , Nature

“During the ’thirties the danger of being a marginal worker became increased by social legislation intended to improve conditions on the labor market. The dilemma, as viewed from the Negro angle is this: on the one hand, Negroes constitute a disproportionately large number of the workers in the nation who work under imperfect safety rules, in unclean and unhealthy shops, for long hours, and for sweatshop wages; on the other hand, it has largely been the availability of such jobs which has given Negroes any employment at all. As exploitative working conditions are gradually being abolished, this, of course, must benefit Negro workers most, as they have been exploited most—but only if they are allowed to keep their employment. But it has mainly been their willingness to accept low labor standards which has been their protection. When government steps in to regulate labor conditions and to enforce minimum standards, it takes away nearly all that is left of the old labor monopoly in the “Negro jobs.”
As low wages and sub-standard labor conditions are most prevalent in the South, this danger is mainly restricted to Negro labor in that region. When the jobs are made better, the employer becomes less eager to hire Negroes, and white workers become more eager to take the jobs from the Negroes.”

Gunnar Myrdal book An American Dilemma

Source: An American Dilemma (1944), p. 397

“Reg NMS was intended to create equality of opportunity in the U. S. stock market. Instead it institutionalized a more pernicious inequality. A small class of insiders with the resources to create speed were now allowed to preview the market and trade on what they had seen.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 98

Speed

“A wide market awaited the manufacturer of food products who would set purity and quality above everything else in their preparation.”

Henry J. Heinz (1844–1919) American businessman

Attributed to Henry J. Heinz in: J. N. Garfunkel (1910), The American Pure Food and Health Journal. Vol. 2 p. xxxviii

Food

“There is no such thing as a gas market prices, because there is no such thing as gas market. What they are doing to Ukraine is obvious price discrimination.”

Andrey Illarionov (1961) Russian politician

In response to the question: The Kremlin says it just charges market prices.
"Q&A: Putin's Critical Adviser," 2005

“Perhaps more striking is the accuracy of many of Marx’s best-known qualitative predictions about the tendencies of capitalist development: capitalism continues to conquer the globe; its effect is the gradual erasure of cultural and regional identities; growing economic inequality is the norm in the advanced capitalist societies; where capitalism triumphs, market norms gradually dominate all spheres of life, public and private; class position continues to be the defining determinant of political outlook; the dominant class dominates the political process which, in turn, does its bidding; and so on.”

Brian Leiter (1963) American philosopher and legal scholar

"The Hermeneutics of Suspicion: Recovering Marx, Nietzsche, and Freud"

Life

“Didn't this used to be our dining-room table back at Sutherland Street, Frank?' said Kathleen.
'Yep. Four dollars at the Anchorage, remember? That was when I cornered the market in cane chairs, too.'
'Come off it! We only had three.'
'Yes, but the price had doubled by the following Saturday.”

Helen Garner (1942) Australian author

Page 26.
Honour (1980)

“It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 15, 'Imperfect Competition' Revisited, p. 167

“Inflation, being a fraudulent invasion of property, could not take place on the free market.”

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

What Has Government Done to Our Money? (1980)

“A breakdown of management into its basic functions — development, production and marketing — revealed that the character of the functions, their chronological sequence, the closeness with which they had to be integrated and their relative importance to the success and survival of the business, all depended upon the system of techniques in the firm concerned.”

Joan Woodward (1916–1971) British sociologist

Source: Management and technology, Problems of Progress Industry, 1958, p. 21-22

Business , Success , Dependency

“Property rights, governance structures and rules of exchange are arenas in which modern states establish rules for economic actors. States provide stable and reliable conditions under which firms organize, compete, cooperate and exchange. The enforcement of the laws affects what conceptions of control can produce stable markets. There are political contests over the content of laws, their applicability to given firms and markets, and the extent and direction of state intervention into economy. Such laws are never neutral. They favor certain groups of firms.”

Neil Fligstein (1951) American sociologist

Source: Markets as politics: A political-cultural approach to market institutions, 1996, p. 657

Law

“I'm looking for a market for wisdom.”

Leó Szilárd (1898–1964) Physicist and biologist

As quoted in "Close-up : I'm looking for a market for wisdom. : Leo Szilard, scientist" in LIFE‎ magazine, Vol. 51, no. 9 (1 September 1961), p. 75

Wisdom

“Let the corporations do as they please - pillage the environment, falsify their advertising, rig the securities markets - and it is none of the federal government's business to interfere with the will of heaven.”

Lewis H. Lapham (1935) American journalist

Washington Rain Dance, p. 17
Waiting For The Barbarians (1997)

Business

“Prostitution is sexual violence that results in massive economic profit for some of its perpetrators. The sex industry, like other global enterprises, has domestic and international sectors, marketing sectors, a range of physical locations out of which it operates in each community, is controlled by many different owners and managers, and is constantly expanding as technology, law, and public opinion permit.”

Melissa Farley (1942) American psychologist

Prostitution, Trafficking, and Cultural Amnesia (2006)

Law , Sex , Communication

“If you hear yourself saying “I could never give up ice cream” (or something else), realize that you may just be short on vegucation. There are lots of rich, luscious nondairy ice creams on the market … If you have the necessary information and you're still saying “I could never give up…,” listen to yourself. You're affirming weakness. … You're bigger than that. You can eat plants and save lives. You can give your life exponentially more meaning by living in a way that decreases suffering just because you got up and chose a kind breakfast.”

Victoria Moran (1950) American writer

Source: The Good Karma Diet (2015), Ch. 2: The Good Karma Diet

Life , Way , Suffering

“North Koreans can frequent black markets and still consider themselves good citizens, as was impossible in the communist East Bloc. So the situation now is more like Japan or Germany in 1944, say, than like East Germany in the 1980s. Widespread government corruption? Check. An entire population of economic criminals? Check. Constant griping about the state, the party, even some joking about the leader? Check. Even good Nazis had their Hitler jokes. A general readiness to fight for the state? Well, there’s certainly more readiness in the North than in the South.”

Brian Reynolds Myers (1963) American professor of international studies

2010s, Interview with Joshua Stanton (August 2017)

Fight

“Hypercompetition is an environment of intense change, in which flexible, aggressive, innovative competitors move into markets easily and rapidly, eroding the advantages of the large and established players.”

Richard D’Aveni (1953) American economist

Source: Hypercompetitive rivalries, 1994, p. ix

Change

“During late Autumn 1956, in connection with a marketing study, I forecast the imminence of a major U. S. economic recession, triggered by the over-stretching of a post-1954 credit-bubble centered in financing of automobiles, housing, and analogous consumer goods. This recession broke out in February 1957 statistics, and was generally, if reluctantly acknowledged to have occurred several months later. The recession-spiral lasted into mid-1958, and was followed by a prolonged stagnation until an upturn appeared under the Kennedy administration.”

Lyndon LaRouche (1922–2019) American political activist and founder of the LaRouche movement

"The Coming Disintegration of Financial Markets" (June 1994) http://spanish.larouchepac.com/static/about-larouche.html.

Autumn , Study , Appearance , Housing

“The virtue of female slaves is wholly at the mercy of irresponsible tyrants, and women are bought and sold in our slave markets, to gratify the brutal lust of those who bear the name of Christians.”

Sarah Grimké (1792–1873) American abolitionist

Letter 8.
Letters on the Equality of the Sexes and the Condition of Woman (1837)

Women

“Hitler was ‘an enemy of free-market economics’ and a ‘reluctant dirigiste.”

Richard Overy (1947) British historian

Source: War and Economy in the Third Reich (1994), pp. 1–2

“The investor has the benefit of the stock market's daily and changing appraisal of his holdings, for whatever that appraisal may be worth, and, second, that the investor is able to increase or decrease his investment at the market's daily figure—if he chooses. Thus the existence of a quoted market gives the investor certain options which he does not have if his security is unquoted. But it does not impose the current quotation on an investor who prefers to take his idea of value from some other source.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 41

Quotes , Idea , Change

“Post-war Labour ideology in Britain has reached the end of the road. We tried the state (1945), we tried the market (1997), then we tried them both together (2007) and Britain is still not generating value in anything other than financial services and high end university teaching and research. Paradoxically, both sectors are protected by the two most ancient, and most democratic self-governing institutions left in the country. Cambridge University on the one side and the City of London Corporation on the other. It is time for our socialist tradition to rediscover the social.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Blue Labour, The Profundity of Defeat http://www.bluelabour.org/2013/10/30/285/

War , Universe , Time , Country

“Some institutions within the market are associated with exchange and contracts in an elemental sense (such as the legal system and the customs which govern the contract)… These would be present even if a formal market did not exist. Other institutions are specifically to do with the development of a market and the coordination of a large number of exchanges in an organized manner.”

Geoffrey Hodgson (1946) British economist

Source: Economics and Institutions, 1988, p. 174

Sense

“No doubt markets transmit information in the way that Hayek claimed. But what reason is there to believe that – unlike any other social institution – they have a built-in capacity to correct their mistakes? History hardly supports the supposition. Moods of irrational exuberance and panic can, and often do, swamp the price-discovery functions of markets.”

John Gray (1948) British philosopher

The Friedrich Hayek I knew, and what he got right - and wrong (2015)

Way , History , Mood , Support

“A basic income paid for out of taxes on the market economy gives people the chance to build positions in the non-market economy. It allows them to volunteer, set up co-ops, edit Wikipedia, learn how to use 3D design software, or just exist. It allows them to space out periods of work; make a late entry or early exit from working life; switch more easily into and out of high-intensity, stressful jobs. Its fiscal cost would be high: that’s why all attempts to enact the measure separately from an overall transition project are likely to fail, despite the growing number of academic papers and global congresses dedicated to it.”

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

PostCapitalism: A Guide to our Future (2015)

Life , People , Learning , Chance

“To Xeniades, who had purchased Diogenes at the slave market, he said, "Come, see that you obey orders."”

Diogenes of Sinope (-404–-322 BC) ancient Greek philosopher, one of the founders of the Cynic philosophy

Diogenes Laërtius, vi. 36
Quoted by Diogenes Laërtius

“Here was a strange but true fact: The closer you were to the market, the harder it was to perceive its folly.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Three, " How Can A Guy Who Can't Speak English Lie?", p. 91

“Man is the animal with a soul who thinks and builds; his penetrating insights into the laws of nature are there for any child to learn, and his impressive mastery of the materials of the earth stands ready to be imitated by anyone, but the home he has built for his own kind is still a lonely and impoverished place for many people. There is nothing about that loneliness that wisdom cannot change; there is nothing in that poverty that strength cannot overcome. Separated from each other, the thinker is a stranger in his own house, and the builder is a beggar at his own door. Together, they can bring the warmth of love and the helpfulness of power into the daily market place of living, taking a human position that is eternal and without compromise. In the midst of the obvious and the commonplace, and only in this birthplace of human contentment and happiness, the thinker and builder can leave the monastic cell and relinquish barracks mobility to claim the world in the name of human beings. When they do so, man can expect a human harvest equal to his dreams, and measured to the nobility of his posture.”

Paul Rosenfels (1909–1985) American sociologist

Psychoanalysis and Civilization

Love , Wisdom , People , World

“Most of their real innovation comes from the market”

Tom Peters book In Search of Excellence

Source: In Search of Excellence (1982), p. 159.

“Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 8, Democracy and the free market, p. 174

Democracy

“We are on the eve of great changes…We have set an example to the world in all ages; we have given them the representative system. The very rules and regulations of this House have been taken as the model for every representative assembly throughout the whole civilised world; and having besides given them the example of a free press and civil and religious freedom, and every institution that belongs to freedom and civilisation, we are now about giving a still greater example; we are going to set the example of making industry free—to set the example of giving the whole world every advantage of clime, and latitude, and situation, relying ourselves on the freedom of our industry. Yes, we are going to teach the world that other lesson. Don't think there is anything selfish in this, or anything at all discordant with Christian principles. I can prove that we advocate nothing but what is agreeable to the highest behests of Christianity. To buy in the cheapest market, and sell in the dearest. What is the meaning of the maxim? It means that you take the article which you have in the greatest abundance, and with it obtain from others that of which they have the most to spare; so giving to mankind the means of enjoying the fullest abundance of earth's goods, and in doing so, carrying out to the fullest extent the Christian doctrine of 'Doing to all men as ye would they should do unto you.”

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

Speech in the House of Commons (27 February 1846), quoted in John Bright and J. E. Thorold Rogers (eds.), Speeches on Questions of Public Policy by Richard Cobden, M.P. Volume I (London: T. Fisher Unwin, 1908), p. 198.
1840s

Men , Age , World , Thinking

“The village of Market Blandings is one of those sleepy hamlets which modern progress has failed to touch… The church is Norman, and the intelligence of the majority of the natives palaeozoic.”

P.G. Wodehouse book Something Fresh

Something Fresh (1915)

Intelligence

“Xiaomi, founded in Beijing in 2010 by Lei Jun, a computer scientist and charismatic serial entrepreneur now in his mid-forties, has accomplished a lot in half a decade. Even just looking at its sales figures, the superlatives pile up. In its short life, it has gone from a startup focused on making a new mobile phone interface to beating Samsung as the number one phone vendor in the largest market in the world in 2014. Its products are so popular in China that it has become the third largest ecommerce firm there just selling its own products, after the general marketplace sites Alibaba and JD. com, and ahead of Amazon. cn.”

Clay Shirky (1964) American technology writer

Little Rice: Smartphones, Xiaomi, and the Chinese Dream (2015)

Life , World

“In the 1950s, industrial workers had become the largest single group in every developed country, and unionized industrial workers in mass-production industry (which was then dominant everywhere) had attained upper-middle-class income levels. They had extensive job security, pensions, long paid vacations, and comprehensive unemployment insurance or "lifetime employment." Above all, they had achieved political power… Thirty-five years later, in 1990, industrial workers and their unions were in retreat. They had become marginal in numbers. Whereas industrial workers who make or move things had accounted for two fifths of the American work force in the 1950s, they accounted for less than one fifth in the early 1990s--that is, for no more than they had accounted for in 1900, when their meteoric rise began… By the year 2000 or 2010, in every developed free-market country, industrial workers will account for no more than an eighth of the work force. Union power has been declining just as fast… By the year 2000 or 2010, in every developed free-market country, industrial workers will account for no more than an eighth of the work force. Union power has been declining just as fast.”

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

About the rise and fall of the blue-collar worker
1990s and later, "The Age of Social Transformation." 1994

Country

“The market had reasserted itself as an impersonal force beyond the power of any person to control, and, while this is the way markets are supposed to be, it was horrible.”

John Kenneth Galbraith book The Great Crash, 1929

Chapter VI https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929, Things Become More Serious, Section II, p 111
The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929)

Way , Personality

“I think it is only because capitalism has proved so enormously more efficient than alternative methods that it has survived at all. (…) I'm not sure capitalism is the right word. There is a sense in which every society is capitalist. The Soviet Union was capitalist, but it was state capitalism. Latin American societies in the past have been capitalist, but it has been oligarchic capitalism. So what we really need to talk about is not capitalism but free market or competitive capitalism which is the system that we would like to have adopted, not just capitalism.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Interview with Parker in Randall E. Parker(ed.), Reflection on the Great Depression (2002)

Thinking , Sense , Past

“The fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism.”

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

Interview with Nathan Gardels, The Huffington Post, September 16th 2008 http://www.huffingtonpost.com/nathan-gardels/stiglitz-the-fall-of-wall_b_126911.html?show_comment_id=15934161

Communication

“The vast number of titles which are published each year—all of them are to the good, even if some of them may annoy or even repel us for a time. For none of us would trade freedom of expression and of ideas for the narrowness of the public censor. America is a free market for people who have something to say, and need not fear to say it.”

Hubert H. Humphrey (1911–1978) Vice-President of the USA under Lyndon B. Johnson

Address to the National Book Awards ceremony in New York City (March 8, 1967), reported in The New York Times (March 9, 1967), p. 42.

People , Fear , Idea , Freedom

“I wanted to explore the new Wall Street. When I was writing Scarface in Miami, there was so much coke around and so many lunatics, and I met so many kids from Wall Street who were millionaires. I thought older men were rich, but here were these kids, 25 or 28 or 35 years old, with millions of dollars playing the markets all over the world around the clock. My father would have been shocked by the new electronics that allowed it…. Dad was a stockbroker on Wall Street when there was more integrity and class.”

Oliver Stone (1946) American film director, screenwriter, and producer

Wall Street DVD Director’s Commentary (2000)

Men , World

“What strip-mining is to nature, the art market has become to culture.”

Robert Hughes (1938–2012) Australian critic, historian, writer

"Introduction: The Decline of the City of Mahagonny"
Nothing If Not Critical (1991)

Art , Nature

“The desktop computer industry is dead. Innovation has virtually ceased. Microsoft dominates with very little innovation. That's over. Apple lost. The desktop market has entered the dark ages, and it's going to be in the dark ages for the next 10 years, or certainly for the rest of this decade.”

Steve Jobs (1955–2011) American entrepreneur and co-founder of Apple Inc.

As quoted in "Steve Jobs: The Next Insanely Great Thing" in WIRED magazine (February 1996) http://www.wired.com/wired/archive/4.02/jobs_pr.html
1990s

Age , Dead

“Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.”

John Kenneth Galbraith book The New Industrial State

Source: The New Industrial State (1967), Chapter X, Section 5, p. 122 (Mr. Galbraith was originally an agricultural economist...)

Study

“It would seem to follow that the ‘invisible hand’ is not much help when it comes to practical legislation. There are too many areas of life where we cannot be relied upon to advance our collective interests merely by doing what we think is best for each of us. Today, when the market and the free play of private interests so obviously do not come together to collective advantage, we need to know when to intervene.”

Tony Judt (1948–2010) British historian

Ill Fares the Land (2010), Ch. 6 : The Shape of Things to Come

Life , Thinking , Help

“If there is no more market for ancient Greek, there should be no more ancient Greek. If there are no jobs for historians, there should be no history. If there is no money in brains, there should be no brains - except for the brains that make money.”

Laura Penny (1975) Canadian journalist

Source: More Money than Brains (2010), Chapter Four, Screw U or Hate My Professors, p. 131

Money , History

“Creating demand is hard. Filling demand is easier. Don't create a product, then seek someone to sell it to. Find a market - define your customers - then find or develop a product for them.”

Timothy Ferriss book The 4-Hour Workweek

The 4-Hour Workweek (2007)

“Other job markets may lay claim to the title, but astronomy is actually the world's oldest profession.”

Philip Plait (1964) astronomer, skeptic

Source: Death from the Skies! (2008), p. 2

World

“Driven by this basic profit-above-all-else directive, corporations are mandated, in effect, to “grow or die,” a rule also called “the growth imperative.” Of course, a food maker is no different from any other corporation operating in a free economy. However, food companies face special challenges when it comes to obeying the market's growth imperative: because there's a limit—in theory, anyway—to the number of calories humans can consume, competition is especially fierce among food makers for the finite pool of money that consumers can spend.”

Michele Simon (1965) public health lawyer

Source: Appetite for Profit (2006), p. 5

Money , Food

“The Coolidge Bull market was a remarkable phenomenon. The ruthlessness of its liquidation was, in its own way, equally remarkable.”

John Kenneth Galbraith book The Great Crash, 1929

Chapter VI https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929, Things Become More Serious, Section I, p 109
The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929)

Way

“[I]t seems pretty clear why this class of product [Apple Watch] is languishing. … But, with products like the LG Watch Sport the market may finally be coming around to a winner.”

Rob Enderle (1954) American financial analyst

Why the Smartwatch May Finally Take Off; or Not http://techspective.net/2017/02/24/smartwatch-may-finally-take-off-not in TechSpective (24 February 2017)

Sport

“The main problem with current neo-liberal globalisation is that it detaches economic and political power from locality, tradition and interpersonal relationships. That’s because it makes a fundamental assumption about human nature: that we are essentially selfish, greedy, isolated individuals who seem to maximise our own individual happiness or short-term pleasure. Purely individual interests ultimately clash. This conflict is then supposedly resolved by the ‘invisible hand’ of the market and the visible hand of the state. In consequence we are left with an increasing centralisation of power, a growing concentration of wealth and an ever-more atomised society.”

Jon Cruddas (1962) British politician

The Common Good in an Age of Austerity Lecture, 9 July 2014 http://joncruddas.org.uk/sites/joncruddas.org.uk/files/ebor%20a.pdf

Pleasure , Nature , Problem , Selfishness

“If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.”

John Maynard Keynes (1883–1946) British economist

Attributed by [Will, Hutton, http://www.guardian.co.uk/commentisfree/2008/nov/02/economics-economy-john-keynes, Will the real Keynes stand up, not this sad caricature?, Guardian, November 2, 2008, 2009-02-05]
Actual quote: "the Stock Exchange revalues many investments every day and the revaluations give a frequent opportunity to the individual (though not to the community as a whole) to revise his commitments. It is as though a farmer, having tapped his barometer after breakfast, could decide to remove his capital from the farming business between 10 and 11 in the morning and reconsider whether he should return to it later in the week."
The General Theory of Employment, Interest and Money (1935), Ch. 12 http://www.marxists.org/reference/subject/economics/keynes/general-theory/ch12.htm
Attributed

Sun

“In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1997 Chairman's Letter http://www.berkshirehathaway.com/letters/1997.html
Letters to Shareholders (1957 - 2012)

World , Error , Thinking

“Just the other day, I was in my neighborhood Starbucks, waiting for the post office to open. I was enjoying a chocolatey cafe mocha when it occurred to me that to drink a mocha is to gulp down the entire history of the New World. From the Spanish exportation of Aztec cacao, and the Dutch invention of the chemical process for making cocoa, on down to the capitalist empire of Hershey, PA, and the lifestyle marketing of Seattle's Starbucks, the modern mocha is a bittersweet concoction of imperialism, genocide, invention, and consumerism served with whipped cream on top. No wonder it costs so much.”

Sarah Vowell book The Partly Cloudy Patriot

The Partly Cloudy Patriot (2003)

World , History , Drink , Waiting

“Markets are social constructs that reflect the unique political-cultural construction of their business enterprises and nations.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 39

Business

“If we want to save the planet earth, to save life and humanity, we have a duty to put an end to the capitalist system. Unless we put an end to the capitalist system, it is impossible to imagine that there will be equality and justice on this planet earth. This is why I believe that it is important to put an end to the exploitation of human beings and to the pillage of natural resources, to put an end to destructive wars for markets and raw materials, to the plundering of energy, particularly fossil fuels, to the excessive consumption of goods and to the accumulation of waste. The capitalist system only allows us to heap up waste. I would like to propose that the trillions of money earmarked for war should be channelled to make good the damage to the environment, to make reparations to the earth.”

Evo Morales (1959) Bolivian politician

http://www.worldsocialism.org/spgb/socialist-standard/2000s/2008/no-1246-june-2008/material-world-evo-moralesa-call-socialism

Life , Money , War , Justice

“The right to have children should be a marketable commodity, bought and traded by individuals but absolutely limited by the state.”

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

Kenneth Boulding, quoted in Dixy Lee Ray (1990). "Trashing the Planet", p. 168. Regnery Publishing, Inc. ISBN 978-0895265449.
1990s and attributed

Children

“Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts… We have a subprime financial system, not a subprime mortgage market.”

Nouriel Roubini (1958) American economist

Quoted in Stephen Mihm, "Dr. Doom," http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&oref=slogin The New York Times (2008-08-15).

People , Home , Problem

“I do think that climate change is occurring, that it is man-caused. One of the proposals that I think is a very libertarian proposal, and I'm just open to this, is taxing carbon emission that may have the result of being self-regulating. … The market will take care of it. I mean, when you look at it from the standpoint of better results, and actually less money to achieve those results, that's what is being professed by a carbon tax. … Coal is a great free market example right now. You and I do not want carbon emission. We don't want it. right now. Natural gas costs less than coal. So there are no new coal plants that are going to be built, given the price of natural gas. And that's something that you and I desire. So it's happening. I'm afraid that coal, from a free market standpoint, has been done in.”

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

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

Money , Nature , Thinking , Change

“Growing up with violence, with inescapable expertly choreographed brutality in every home builds not only a kind of desensitization for it, but it also creates a market for violent entertainment by people for whom even what they see on television is not enough, is not graphic enough, is not explicit enough, and some movie productions, some big productions really cash in on that market. What is peculiar about this is that as time goes on, a greater dosage is necessary to satisfy this need.”

George Gerbner (1919–2005) American writer, freelancer and sociologist

The Killing Screens: Media and the Culture of Violence

People , Home , Time

“Here, in India, the problem is peculiar. Our trade tends steadily to expand and it is possible to demonstrate by means of statistics the increasing prosperity of the country generally. On the other hand, we in India know that the ancient handicrafts are decaying, that the fabrics for which India was renowned in the past are supplanted by the products of Western looms, and that our industries are not displaying that renewed vitality which will enable them to compete successfully in the home or the foreign market. The cutivator on the margin of subsistence remains a starveling cultivator, the educated man seeks Government employment or the readily available profession of a lawyer, while the belated artisan works on the lines marked out for him by his forefathers for a return that barely keeps body and soul together. It is said that India is dependent on agriculture and must always remain so. That may be so; but there can, I venture to think, be little doubt that the solution of the ever recurring famine problem is to be found not merely in the improvement of agriculture, the cheapening of loans, or the more equitable distribution of taxation, but still more in the removal from the land to industrial pursuits of a great portion of those, who, at the best, gain but a miserable subsistence, and on the slightest failure of the season are thrown on public charity. It is time for us in India to be up and doing; new markets must be found, new methods adopted and new handicrafts developed, whilst the educated unemployed, no less than the skilled and unskilled labourers, all those, in fact, whose precarious means of livelihood is a standing menace to the well-being of the State must find employment in reorganised and progressive industries It seems to me that what we want is more outside light and assistance from those interested in industries. Our schools should not be left entirely to officials who are either fully occupied with their other duties or whose ideas are prone, in the nature of things, to run in official grooves. I should like to see all those who "think" and “know" giving us their active assistance and not merely their criticism of our results. It is not Governments or forms of Government that have made the great industrial nations, but the spirit of the people and the energy of one and all working to a common end.”

Krishna Raja Wadiyar IV (1884–1940) King of Mysore

On the occasion of the opening of Industrial and Arts Exhibition on 26 December 1903 in Madras (now known as Chennai) Modern_Mysore, Dr. B. R. Ambedkar Open University, 26 November 2013, archive.org, 203 http://archive.org/stream/modernmysore035292mbp/modernmysore035292mbp_djvu.txt,
As ruler of the state

People , Education , School , Home

“The motives for conceiving modern systems engineering are to be found, at least in part, in past disasters. Arthur D. Hall III [1989] cites: the chemical plant leakage in Bhopal (1986); the explosion of the NASA Challenger space shuttle (1986) and the Apollo fire (1967); the sinking of the Titanic (1912); the nuclear explosion in Chernobyl (1986) and the disaster at Three Mile Island power plant (1979). He cites, too, the capture of markets by Japan from the U. S., the decline in US productivity and the failure of the US secondary school system. He identifies the millions of people dying of starvation every year while other nations stockpile surplus food, medical disasters such as heart disease, while governments subsidize grains used to produce high cholesterol meat, milk and eggs; and many more. One implication is clear: systems engineering faces challenges well beyond the sphere of engineering.”

Derek Hitchins (1935) British systems engineer

Source: Advanced Systems Thinking, Engineering and Management (2003), p. 75-76

People , Disease , School , Food

“The widespread assumption that big business and big government are fundamentally at odds, and that big business supports a free market, serves to maintain the ruling partnership in power; indeed, ‘vulgar liberalism’ and ‘vulgar libertarianism’ (in Carson’s sense) represent the dominant ideologies of the establishment left and establishment right, respectively. The establishment left disguises its government intervention on behalf of the rich as government intervention on behalf of the poor, while the right disguises its government intervention on behalf of the rich as an opposition to government intervention per se – and each side has an interest in maintaining the myth propagated by its nominal opponent. For those who are repelled by the realities of corporate capitalism are lured into becoming opponents of the free market and foot soldiers for the left wing of the ruling class, while those who are attracted by free-market ideals are lured into becoming defenders of corporate capitalism and foot soldiers for the right wing of the ruling class. Either way, the partnership as a whole has its power reinforced.”

Roderick Long (1964) American philosopher

Source: "Left-libertarianism, market anarchism, class conflict and historical theories of distributive justice" (2012), p. 422

Way , Business , Support , Reality

“In most cases the favorable price performance will be accompanied by a well-defined improvement in the average earnings, in the dividend, and in the balance-sheet position. Thus in the long run the market test and the ordinary business test of a successful equity commitment tend to be largely identical.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 25

Business , Success

“I still cannot understand how a party that is supposed to defend free markets supports a small cartel that artificially increases the price of milk, chicken and eggs for millions of Canadian consumers.”

Maxime Bernier (1963) Canadian politician

Understanding , Support

“Plainly, the most powerful exception to the notion of a voluntary excahnge in a market economy is the labor market. The existence of a market for labor is one of the distinguishing features of a market economy: workers compete to sell their labor at the most favorable price—meaning, in practice, the highest possible wage. At the same time, however, it is clear that the market for labor is qualitatively different from the market for goods, because workers need to sell their labor to survive.”

Mimi Abramovitz (1941) non-fiction writer

Joel Blau and Mimi Abramovitz, The Dynamics of Social Welfare Policy (Oxford University Press: 2010) p. 68

Time

“We like our model, as we are evolving it. In every category Apple competes, it's the low-volume player, except in tablets. In the PC market, obviously the advantage of diversity has mattered since 90-something percent of PCs that get sold are Windows PCs. We'll see what winds up mattering in tablets.”

Steve Ballmer (1956) American businessman who was the chief executive officer of Microsoft

Ballmer's New Mission for Microsoft, 29 October 2012, 2014-02-28, The Wall Street Journal http://online.wsj.com/news/articles/SB10001424052970204789304578087112202063912,
2010s

“The major difference between the left and the right when it comes to any movement dedicated to overthrowing the free-market order—corporatist, authoritarian, etc.—is which groups will be the winners and which groups will be the losers. A left-wing system might empower labor leaders, government bureaucrats, progressive intellectuals, universities, certain minority groups, and one set of industries. A right-wing system might reward a different set of industries as well as traditional religious groups and their leaders, an ethnic majority, aristocrats, or perhaps rural interests. But both systems would be reactionary in the sense that they rejected the legacy of the Lockean revolution…”

Jonah Goldberg (1969) American political writer and pundit

2010s, 2018, Socialism is So Hot Right Now (2018)

Sense , Universe

“An earlier version of this volume was originally contracted for and produced as a monograph by Warner Modular Communications, Inc., a subsidiary member of the Warner communications and entertainment conglomerate. The publishing house had run a relatively independent operation up to the time of the controversy over this document. The editors and publisher were enthusiastic about the monograph and committed themselves to put it out quickly and to promote it with vigor. But just prior to publication, in the fall of 1973, officials of the parent company got wind of it, looked at it, and were horrified by its “unpatriotic” contents. Mr. William Sarnoff, a high officer of the parent company, for example, was deeply pained by our statement on page 7 of the original that the “leadership in the United States, as a result of its dominant position and wide-ranging counter-revolutionary efforts, has been the single most important instigator, administrator, and moral and material sustainer of serious bloodbaths in the years that followed World War II.” So pained were Sarnoff and his business associates, in fact, that they were quite prepared to violate a contractual obligation in order to assure that no such material would see the light of day. […] they decided to close down the publishing house […]. The history of the suppressed monograph is an authentic instance of private censorship of ideas per se. The uniqueness of the episode lies only in the manner of suppression. Usually, private intervention in the book market is anticipatory, with regrets that the manuscript is unacceptable, perhaps “unmarketable.””

Edward S. Herman (1925–2017) American journalist

Sometimes the latter contention is only an excuse for unwillingness to market, although it may sometimes reflect an accurate assessment of how the media and journals will receive books that are strongly critical of the established order.
Source: The Washington Connection and Third World Fascism, with Noam Chomsky, 1979, pp. xiv-xvii.

Pain , War , Books , World

“Libertarians are often baffled at how those who appear so sensitive to constraints on choice, and to differences in bargaining power, when these derive from market factors, become so amazingly oblivious to the constraint on choice, and differential bargaining power, represented by the armed might of the state, empowered to enforce its demands by legalized violence.”

Roderick Long (1964) American philosopher

"Equality: the Unknown Ideal" (2001)

Appearance

“I think I’m starting to resolve a puzzle that’s been bugging me for awhile.
Pop economists (or, at least, pop micro-economists) are often making one of two arguments:1. People are rational and respond to incentives. Behavior that looks irrational is actually completely rational once you think like an economist.
2. People are irrational and they need economists, with their open minds, to show them how to be rational and efficient.
Argument 1 is associated with “why do they do that?” sorts of puzzles. Why do they charge so much for candy at the movie theater, why are airline ticket prices such a mess, why are people drug addicts, etc. The usual answer is that there’s some rational reason for what seems like silly or self-destructive behavior.
Argument 2 is associated with “we can do better” claims such as why we should fire 80% of public-schools teachers or Moneyball-style stories about how some clever entrepreneur has made a zillion dollars by exploiting some inefficiency in the market.
The trick is knowing whether you’re gonna get 1 or 2 above. They’re complete opposites!”

Andrew Gelman (1965) American mathematician

“One of the easiest ways to differentiate an economist from almost anyone else in society” http://andrewgelman.com/2011/07/19/one_of_the_easi/ (19 July 2011)

People , School , Behavior , Thinking

“Legally Blonde 2 should never have been made. It is a cinematic abomination — a source of embarrassment for everyone involved. There have been worse films this year, but none has been marketed as this fun-loving and upbeat. Worthwhile moments are few and far between, and Reese Witherspoon's incandescent charm, which was one of the original Legally Blonde's saving graces, is so bright that it creates a glare. There's such a thing as being too perky.”

James Berardinelli (1967) American film critic

Review http://www.reelviews.net/php_review_template.php?identifier=1321 of Legally Blonde 2: Red, White & Blonde (2003).
One-star reviews

Love

“[Tablets] have not risen to expectations. Apple, the lead market maker in the category, has recently flipped from an emerging market strategy to a cash cow strategy with its latest reduced-price iPad offering, suggesting it now believes that tablets are on life support.”

Rob Enderle (1954) American financial analyst

Why Fake News on PC and Printer Death Is Dangerous http://www.itbusinessedge.com/blogs/unfiltered-opinion/why-fake-news-on-pc-and-printer-death-is-dangerous.html in IT Business Edge (6 April 2017)

Life , Support

“The mark of a capitalistic society is that resources are owned and allocated by such nongovernmental organizations as firms, households, and markets. Resource owners increase productivity through cooperative specialization and this leads to the demand for economic organizations which facilitate cooperation. When a lumber mill employs a cabinetmaker, cooperation between specialists is achieved within a firm, and when a cabinetmaker purchases wood from a lumberman, the cooperation takes place across markets (or between firms). Two important problems face a theory of economic organization—to explain the conditions that determine whether the gains from specialization and cooperative production can better be obtained within an organization like the firm, or across markets, and to explain the structure of the organization.”

Harold Demsetz (1930–2019) American economist

Source: Production, information costs, and economic organization. 1972, p. 777, Lead paragraph

Problem

“Excessive acreages of unused buildings, commercial and residential were created. The need for such construction, given the space demands of modern business bureaucracy, was believed to be without limit. In later consequence, the solvency of numerous banks, including that of some of the nation's largest and most prestigious institutions, was either fatally impaired or placed in doubt. The lending of both those that failed or were endangered and others was subject, by fear and example to curtailment. The construction industry was severely constrained and its workers left unemployed. A general recession ensued. Any early warning as to what was happening would have been exceptionally ill received, seen as yet another invasion of the benign rule of laissez faire and a specific interference with the market. However in keeping with the exceptions to this rule, there would be eventual salvation in a government bailout of the banks. Insurance of bank deposits — a far from slight contribution to contentment — was permissible, as well as assurance that were a bank large enough, it would not be allowed to fail. A preventive role by government was not allowed; eventual government rescue was highly acceptable.”

John Kenneth Galbraith book The Culture of Contentment

Source: The Culture of Contentment (1992), Ch. 5

Fear , Business

“The great error of the last 50 years is that conservatives think that they should unthinkingly endorse laissez -faire economics, but as presently conceived the free market destroys most of the things conservatives value; it destroys traditions, family life, societies, cultures, and established ways of doing things. The market place, as understood by contemporary neo-liberalism, is something no genuine conservative should support or endorse.”

Phillip Blond (1966) British philosopher

Source: Den 11. time, Third season, programme 96, 3 March 2008, DR2
Source: Interview with Philip Blond http://www.dr.dk/Forms/Published/PlaylistGen.aspx?qid=616842&odp=true&bitrate=low&location=Lyngby&uri=http://www.dr.dk/Forms/Published/PlaylistGen.aspx, Den 11. time, DR2, 3 March 2008, Windows Media file, 28 min. (in English with Danish subtitles)

Life , Family , Way , Error

“Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.”

Alfred de Zayas (1947) American United Nations official

Interim report of the Independent Expert on the promotion of a democratic and equitable international order, Alfred Maurice de Zayas http://www.ohchr.org/Documents/Issues/IntOrder/A.67.277_en.pdf.
2012

Family , Justice

“The fate of the soil system depends on society's willingness to intervene in the market place, and to forego some of the short-term benefits that accrue from 'mining' the soil so that soil quality and fertility can be maintained over the longer term.”

Eugene P. Odum (1913–2002) mathematician, ecologist, natural philosopher, and systems ecologist

Eugene Odum (1993) Ecology and our endangered life-support systems. p. 143

Fate , Dependency

“Except for Marxian theories, nearly all modern theories of the business cycle have essential elements that trace back to Knut Wicksell's turn-of-the-century writings on interest and prices. Austrians, New Classicists, Monetarists, and even Keynesians can legitimately claim a kinship on this basis. Accordingly, the recognition, that both the Austrians and the New Classicists have a Swedish ancestry does not translate into a meaningful claim that the two schools are essentially similar. To the contrary, identifying their particular relationships to Wicksellian ideas, like comparing the two formally similar business-cycle theories themselves, reveals more differences than similarities. … [T]o establish the essential difference between the Austrians and the New Classicists, it needs to be added that the focus of the Austrian theory is on the actual market process that translates the monetary cause into the real phenomena and hence on the institutional setting in which this process plays itself out.The New Classicists deliberately abstract from institutional considerations and specifically deny, on the basis of empirical evidence, that the interest rate plays a significant role in cyclical fluctuations (Lucas 1981, p. 237 151–1). Thus, Wicksell's Interest and Prices is at best only half relevant to EBCT. … Taking the Wicksellian metaphor as their cue, the New Classicists are led away from the pre-eminent Austrian concern about the actual market process that transforms cause into effect and towards the belief that a full specification of the economy's structure, which is possible only in the context of an artificial economy, can shed light on an effect whose nature is fundamentally independent of the cause.”

Roger Garrison (1944) American economist

Pages 98–99.
"New Classical and Old Austrian Economics", 1991

School , Idea , Business , Nature

“In doing so, socialist, labor, and social democratic parties contributed to -- though they were not the sole authors of -- the development of the mixed economies that exist in advanced countries today. If these mixed economies are a far cry from the centralized systems that were created in Eastern Europe under Leninist rulers, they are also very far from the classical liberal model of a self-regulating market economy. If we look to the most advanced economies for guidance, then we should not allow ourselves to be misled by dogma about "free markets."”

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

After the Revolution? (1970; 1990), Ch. 3 : Democracy and Markets

Cry , Country

“By elevating the dictum of the market to the role of the sole criterion of rationality and efficiency, economics denies even all "respectability" to the distinction between essential and non-essential consumption, between productive and unproductive labor, between actual and potential surplus.”

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

Source: The Political Economy Of Growth (1957), Chapter Two, The Concept Of the Economic Surplus, p. 25

“Let me say again that I am not impugning the motives of the men in Wall Street. They may think that that is the best way to create prosperity for the country. When you have got the market in your hand, does honesty oblige you to turn the palm upside down and empty it? If you have got the market in your hand and believe that you understand the interest of the country better than anybody else, is it patriotic to let it go? I can imagine them using this argument to themselves.
The dominating danger in this land is not the existence of great individual combinations, — that is dangerous enough in all conscience, — but the combination of the combinations, — of the railways, the manufacturing enterprises, the great mining projects, the great enterprises for the development of the natural water-powers of the country, threaded together in the personnel of a series of boards of directors into a "community of interest" more formidable than any conceivable single combination that dare appear in the open.”

Woodrow Wilson (1856–1924) American politician, 28th president of the United States (in office from 1913 to 1921)

Section VIII: “Monopoly, Or Opportunity?”, p. 186 http://books.google.com/books?id=MW8SAAAAIAAJ&pg=PA186&dq=%22Let+me+say+again%22
1910s, The New Freedom (1913)

Men , Way , Imagination , Communication

Quotes about market page 11

Quotes about market
page 11