Quotes about market (1646 quotes, page 13)

“Adrian Slywotzky believes the Internet will overturn the inefficient push model of supplier-customer interaction. He predicts that in all sorts of markets, customers will use choiceboards—interactive, on-line systems that let people design their own products by choosing from a menu of attributes, prices, and delivery options. And he explores how the shifting role of the customer—from passive recipient to active designer—will change the way companies compete.”

Adrian Slywotzky (1951) American economist

Adrian J. Slywotzky, Clayton M. Christensen, Richard S. Tedlow, Nicholas G. Carr (2000) "The future of commerce." Harvard Business Review Vol 78.1. p. 39-53. ( abstract http://hbr.org/product/future-of-commerce-hbr-onpoint-enhanced-edition/an/4681-PDF-ENG).

People , Way , Change

“You take a change… Calculate the odds, research the international market properly, establish the Southern Africans' taste, style, appetite and enjoyment, aim at giving them a good time at the best quality that they can afford - then go for it!”

Sol Kerzner (1935) South African businessman

Sunday Times interview (1980s)

Change , Time

“Rothbard is surely right in thinking that what we now call free-market libertarianism was originally a left-wing position. The great liberal economist Frédéric Bastiat sat on the left side of the French national assembly, with the anarcho-socialist Proudhon. Many of the causes we now think of as paradigmatically left-wing—feminism, antiracism, antimilitarism, the defense of laborers and consumers against big business—were traditionally embraced and promoted specifically by free-market radicals. … I like calling the free market a left-wing idea—in fact, I like calling libertarianism the proletarian revolution.”

Roderick Long (1964) American philosopher

"Rothbard's 'Left and Right': Forty Years Later," http://bastiat.mises.org/library/rothbards-left-and-right-forty-years-later Rothbard Memorial Lecture, Austrian Scholars Conference (2006).

Idea , Business , Thinking

“There is no salvation for Britain unless the special privileges granted to the trade unions in 1906 are revoked. The average level of real wages of British workers would undoubtedly be higher, and their chances of finding employment better, if the wages of different occupations were again determined by the market and all limitations on the work an individual is allowed to do were removed.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

"Trade Unions — The Biggest Obstacle", Economic Affairs (October 1980)
1980s and later

Chance

“In the new environment and markets it is not enough to only promote the export of Finland. We need the political view where the countries are developing and political abilities to contribute the direction of development, e. g. in the human rights and security issues.”

Pekka Haavisto (1958) Finnish politician

Source: Pekka Haavisto: Moninapaista arvokeskustelua http://www.ulkopolitiikka.fi/article/910/pekka_haavisto_moninapaista_arvokeskustelua/ Ulkopolitiikka 4/2011” ”Uusissa toimintaympäristöissä ja uusilla markkinoilla ei riitä, että edistetään Suomen vientiä. Pitää olla myös poliittinen näkemys siitä, mihin maat ja alueet ovat kehittymässä, sekä poliittisia valmiuksia vaikuttaa kehityksen suuntaan, esimerkiksi ihmisoikeus- ja turvallisuuskysymyksiin.”

Country

“You talk about making this article cheaper by reducing its price in the market from 8 d. to 6 d. But suppose, in so doing, you have rendered your country weaker against a foreign foe; suppose you have demoralized thousands of your fellow-countrymen, and have sown discontent between one class of society and another, your article is tolerably dear, I take it, after all.”

Samuel Taylor Coleridge (1772–1834) English poet, literary critic and philosopher

17 March 1833
Table Talk (1821–1834)

Country

“I started out with $600, a second hand Volkswagen, and a wife. One was an asset and one was a liability. I will let you figure out which was which. I liquidated both, and still had the $600. I worked long hours, and spent weekends reading about markets. I simply love it. You have to love what you do, whether it be gardening, hairdressing, etc. When you love it, then the money follows. Even if it doesn’t, you will still be happy. Being happy and poor is better than being unhappy and poor.”

Jim Rogers (1942) American writer

Interview, February 2005

Love , Money , Reading , Happiness

“The worst of failure in this kind is that it spoils the market for more competent performers.”

James Agate (1877–1947) British diarist and critic

Ego 7 (1945), p. 153, July 21, 1944.
On von Stauffenberg's bomb plot.

Failure

“I think President Obama is the most radical president this nation's ever seen. And in particular, I think he is a true believer in government control of the economy and of our everyday lives. In my judgment, we are facing what I consider to be the epic battle of our generation, quite literally the battle over whether we remain a free market nation.”

Ted Cruz (1970) American politician

Interview with Caroline May of the The Daily Caller, after his announcement to run for U.S. Senate for the first time; in Caroline May, " Partier for Senate http://dailycaller.com/2011/06/06/ted-cruz-cuban-ivy-league-tea-partier-for-senate/", The Daily Caller (June 6, 2011).
2010s

Thinking

“The market can quickly seize up. Prices don't adjust in a smooth continuous fashion, but instead abruptly reconfigure themselves, like the earth's crust during an earthquake.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 6, At Rest Versus In Motion, p. 195

Fashion

“Paul Lawrence and Jay Lorsch (1967), who coined the label “contingency theory,” argue that different environments place differing requirements on organizations: specifically, environments characterized by uncertainty and rapid rates of change in market conditions or technologies present different challenges—both constraints and opportunities—to organizations than do placid and stable environments”

W. Richard Scott (1932) American sociologist

Source: Institutions and Organizations., 1995, p. 89 (2001: 103)

Change

“Do not be fooled by those who see you as just another consumer in a market of undifferentiated possibilities, where choice itself becomes the good, novelty usurps beauty, and subjective experience displaces truth.”

Pope Benedict XVI (1927) 265th Pope of the Catholic Church

2008, Papal Welcome (17 July 2008)

Truth , Beauty , Fools

“You have to see where the market is going. I always believe there is no sunset business. It’s all in the mindset because if you give up, then you die.”

Sukanto Tanoto (1949) Indonesian businessman

On film and Eastman Kodak, Globe Asia Interview, Sep, 2015. http://www.inside-rge.com/Sukanto-Tanoto-Resource-King-GlobeAsia
2015

Business

“In theory, everybody buys the best and cheapest commodities offered to him on the market. In practice, if every one went around pricing, and chemically testing before purchasing, the dozens of soaps or fabrics or brands of bread which are for sale, economic life would become hopelessly jammed.”

Edward Bernays book Propaganda

Source: Propaganda (1928), p. 39

Life

“So, if consumers are like roaches, then marketers must forever be dreaming up new concoctions for industrial-strength Raid.”

Naomi Klein (1970) Canadian author and activist

Source: No Logo: Taking Aim at the Brand Bullies 1999, Chapter One, "No Space"

Dreams

“Apple is repeating the mistakes it made in China. It is relying on its brand recognition to build a market and failing to understand the needs of its customers. By marketing inferior products, it may also be insulting Indian consumers.”

Vivek Wadhwa American academic

Why Apple is destined to fail in India http://wadhwa.com/2017/03/16/apple-destined-fail-india in Vivek Wadhwa (16 March 2017)

Understanding

“Carl Friedrich Gauss, often rated the greatest mathematician of all time, played the market. On a salary of 1,000 thalers a year, Euler left an estate of 170,587 thalers in cash and securities. Nothing is known of Gauss's investment methods.”

William Poundstone (1955) American writer

Part Three, Arbitrage, This Is Not the Time To Buy Stocks, p. 132
Fortune's Formula (2005)

Time

“Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.”

Jeffrey Tucker (1963) American writer

Education , Food , Way , Beer

“Gutenberg’s press flooded the market. In the early 1500s John Tetzel, the head pardoner for German territories, would sweep into a town with a collection of already printed indulgences, hawking them with a phrase usually translated as “When a coin a coffer rings / A soul for heaven springs.” The nakedly commercial aspects of indulgences, among other things, enraged Martin Luther, who in 1517 launched an attack on the Church in the form of his famous Ninety-five Theses. He first nailed the theses to a church door in Wittenberg, but copies were soon printed up and disseminated widely. Luther’s critique, along with the spread of Bibles translated into local languages, drove the Protestant Reformation, plunging the Church (and Europe) into crisis. The tool that looked like it would strengthen the social structure of the age instead upended it. From the vantage point of 1450, the new technology seemed to do nothing more than offer the existing society a faster and cheaper way to do what it was already doing. By 1550 it had become apparent that the volume of indulgences had debauched their value, creating “indulgence inflation”—further evidence that abundance can be harder for a society to deal with than scarcity. Similarly, the spread of Bibles wasn’t a case of more of the same, but rather of more is different—the number of Bibles produced increased the range of Bibles produced, with cheap Bibles translated into local languages undermining the interpretative monopoly of the clergy, since churchgoers could now hear what the Bible said in their own language, and literate citizens could read it for themselves, with no priest anywhere near. By the middle of the century, Luther’s Protestant Reformation had taken hold, and the Church’s role as the pan-European economic, cultural, intellectual, and religious force was ending.”

Clay Shirky (1964) American technology writer

Cognitive Surplus : Creativity and Generosity in a Connected Age (2010)

Age , Way , Soul , Spring

“Market exchange requires a combination of both state and customary institutions. For any developed system of commodity exchange there must be a legal system inscribing and protecting rights to individual or corporate property. There must be a body of contract law with criteria for distinguishing between voluntary and involuntary transfers of goods and services, and courts to adjudicate in such matters. However, the evolution of law is not simply a matter of legislative construction; a great deal of law grows out of custom and precedent. Property and contract law are not exceptions. Consequently, the existence of property and exchange is tied up with a number of legal and other institutions, e. g. government, political system, and common societal values.”

Geoffrey Hodgson (1946) British economist

Source: Economics and Institutions, 1988, p. 150

Law

“In a startup, founders define the product vision and then use customer discovery to find customers and a market for that vision.”

Steve Blank (1953) American businessman

Source: The Startup Owner’s Manual (2012), p. 25.

““The Industrial Age was characterised by the aggregation of economics and governance. This was the era of massification and standardisation -- big industrial corporations, big government departments and big interest groups. The Information Age is turning these principles on their head. It is an era of disaggregation and demassification, hence the stunning growth of small businesses and niche markets.””

Mark Latham (1961) Australian politician

Unsourced

Age , Business

“Whether a bank lent one million, ten million, or a hundred millions, they would not permanently alter the market rate of interest; they would alter only the value of the money they issued.”

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

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXVII, Currency and Banks, p. 246

Money

“In the formulas of 'personnel experts', men and women are to be shaped into the 'well rounded, acceptable, effective personality.' Just like small proprietors, they cannot higgle over prices, which are fixed, or 'judge the market' and accordingly buy wisely.”

C. Wright Mills book White Collar: The American Middle Classes

White Collar: The American Middle Classes (1951)

Women , Men , Personality

“It is a wive's occupation to wynowe all manner of cornes, to make malte, to washe and wrynge, to make heye, shere corne, and, in time of nede, to helpe her husbande to fyll the muckewayne or dounge carte, drive the ploughe, to loade heye, corne, and suche other. And to go or ride to the market, to sel butter, chese, mylke, egges, chekyns, capons, hennes, pygges, gese, and all manner of cornes.”

Anthony Fitzherbert (1470–1538) English judge, scholar and legal author

Source: The book of the husbandry. (1523/1882), p. 95-98: On the general duties of a wife.

Time , Help

“For years I gave the press really ugly pictures of myself which would make me cringe…And I didn't exist!…They can't market you, so you don't appear to the public, so you don't have a voice.”

Kristen Hersh (1966) American rock singer

quoted in Evans, Liz (1994). Women, Sex and Rock 'n' Roll: In Their Own Words, p. 217. London, Pandora.

Appearance

“Repealing drug laws would remove the risks involved with producing and distributing drugs, bringing 'street prices' crashing down (it's estimated that a 'spoon' of heroin would cost about a quarter in the free market), thereby eradicating any incentive that criminals might have to compete with legitimate businesses, and greatly reducing — if not eliminating altogether — any economic reason to 'push' drugs on children.”

L. Neil Smith (1946) American writer

"Some Random Thoughts About the War On Drugs".

Children , Law , Business

“David Brody: Radical Islam: to Evangelicals, this is a bread and butter issue. You said there's a Muslim problem in this country. What do you mean by that exactly?
Donald Trump: Bill O'Reilly asked me is there a Muslim problem? And I said absolutely, yes. In fact I went a step further. I said I didn't see Swedish people knocking down the World Trade Center. It was very interesting. I thought that was going to be a controversial statement and somebody, I think it was Dennis Miller introduced me, he was doing like an analysis of me, he said, I love it. The guy said what the truth is. He didn't mince his words. He didn't say, 'Oh, gee, no there's not a Muslim problem, everybody's wonderful.' And by the way, many, many, most Muslims are wonderful people, but is there a Muslim problem? Look what's happening. Look what happened right here in my city with the World Trade Center and lots of other places. So I said it and I thought it was going to be very controversial but actually it was very well received. I think people want the truth. I think they're tired of politicians. They're tired of politically correct stuff. I mean I could have said, 'Oh absolutely not Bill, there's no Muslim problem, everything is wonderful, just forget about the World Trade Center.' But you have to speak the truth. We're so politically correct that this country is falling apart.
Brody: With some evangelicals there are some problems with the teachings of the Koran. Do you have concerns about the Koran?
Trump: Well, I'll tell you what. The Koran is very interesting. A lot of people say it teaches love and there is a very big group of people who really understand the Koran far better than I do. I'm certainly not an expert, to put it mildly. But there's something there that teaches some very negative vibe. I mean things are happening, when you look at people blowing up all over the streets that are in some of the countries over in the Middle East, just blowing up a super market with not even soldiers, just people, when 250 people die in a super market that are shopping, where people die in a store or in a street. There's a lot of hatred there that's some place. Now I don't know if that's from the Koran. I don't know if that's from some place else. But there's tremendous hatred out there that I've never seen anything like it. So, you have two views. You have the view that the Koran is all about love and then you have the view that the Koran is, that there's a lot of hate in the Koran.”

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

On CBN News' "The Brody File" (12 April 2011) ( video https://www.youtube.com/watch?v=fWzDAvemJG8) ( transcript http://blogs.cbn.com/thebrodyfile/archive/2011/04/12/brody-file-exclusive-donald-trump-says-something-in-koran-teaches.aspx)
2010s, 2011

Love , Hate , People , Truth

“It is important to realize that the market economy, though it is associated historically with the rise of modern private capitalism, is as a mechanism not necessarily limited to that system.”

Daniel Bell book The Cultural Contradictions of Capitalism

Source: The Cultural Contradictions of Capitalism (1976), Chapter 6, The Public Household, p. 223

“[In] economics… you can disguise charlatanism under the weight of equations and nobody can catch you since there is no such thing as a controlled experiment. Now the spirit of such methods, called scientism by its detractors, continued into the discipline of finance as a few technicians thought their mathematical knowledge could lead them to understand markets. The practice of financial engineering came along with massive doses of pseudoscience.”

Nassim Nicholas Taleb book Fooled by Randomness

page 115
Fooled by Randomness (2001)

Mathematics , Understanding , Knowledge

“It may be true that one can reach more microcomputer users with advertising. If this is really so, a business which advertises the service of copying and mailing GNU for a fee ought to be successful enough to pay for its advertising and more. This way, only the users who benefit from the advertising pay for it.
On the other hand, if many people get GNU from their friends, and such companies don't succeed, this will show that advertising was not really necessary to spread GNU. Why is it that free market advocates don't want to let the free market decide this?”

Richard Stallman (1953) American software freedom activist, short story writer and computer programmer, founder of the GNU project

1980s, GNU Manifesto (1985)

People , Way , Business , Success

“Is marketing management an art or a science? Some marketing observers maintain that good marketing is more of an art and does not lend itself to rigorous analysis and deliberation. Others strongly disagree and contend that marketing management is a highly disciplined enterprise that has much in common with other business disciplines.”

Kevin Lane Keller (1956) American business theorist

Philip Kotler, Kevin Lane Keller, Mairead Brady, Malcolm Goodman & Torben Hansen. (2009). Marketing Management. p. 819

Art , Business , Science

“When I say this game is hard, I mean hard like nipples-on-a-blind-lesbian-in-a-fish-market hard.”

Maddox (1978) American internet writer

The Best Page in the Universe

Game , Fish

“Capitalism in the twentieth century was dominated by finance, with the exception of that half of the century that was taken up by its world wars, the Great Depression and its Keynesian aftermath. Even before, in the nineteenth century, finance seduced industrial capitalism by offering a vision of capitalist reproduction expanded by the resources generated by financial inflation, ostensibly held in check by controls on the issue of paper money. The extensive and negative reaction of English political economy to Adam Smith’s views on usury was symptomatic of the expansion of financial markets and their growing confidence in their ability to contribute to commerce and industry. From Veblen through Keynes to Minsky, a series of critics of finance argued that economies do not operate in the benign way in which it appears in equilibrium economics. These critics can be divided into those like Veblen, Hawtrey, Kalecki, Steindl and Minsky, who took a general view of finance; those like Smith, Fisher and Breit, who saw the financial system as essentially a banking system; and those like Keynes, Kindleberger and Galbraith, who have identified the pathology of modern capitalism in its capital markets.”

Jan Toporowski (1950)

Theories of Financial Disturbance (2005), Ch. 15. Conclusion: the disturbance of economists by finance

Money , War , World , Way

“what is called the flexibility of the labor market means that no job is secure. There is no longer a clear division but rather a large gray area in which all workers hover precariously between employment and unemployment. Second there is no "reserve" in the sense that no labor power is outside the process of social production. The poor, the unemployed, and the underemployed in our societies are in fact active in social production even when they do not have a waged position.”

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

131
Multitude: War and Democracy in the Age of Empire

Sense

“Markets are social organizations, structured and regulated by more or less well-defined social rule systems.”

Tom R. Burns (1937) American sociologist

Source: The shaping of social organization (1987), p. 125.

“Free market capitalism is the best path to prosperity!”

Lawrence Kudlow (1947) American economist

Kudlow's Money Politics blog http://kudlowsmoneypolitics.blogspot.com/2007/09/free-market-hall-of-fame.html, September 14, 2007. (known as the "Kudlow Creed" on the Kudlow & Company show)

“We're all grossly ignorant about most things that we use and encounter in our daily lives, but each of us is knowledgeable about tiny, relatively inconsequential things. For example, a baker might be the best baker in town, but he's grossly ignorant about virtually all the inputs that allow him to be the best baker. What is he likely to know about what goes into the processing of the natural gas that fuels his oven? For that matter, what does he know about oven manufacture? Then, there are all the ingredients he uses -- flour, sugar, yeast, vanilla and milk. Is he likely to know how to grow wheat and sugar and how to protect the crop from diseases and pests? What is he likely to know about vanilla extraction and yeast production? Just as important is the question of how all the people who produce and deliver all these items know what he needs and when he needs them. There are literally millions of people cooperating with one another to ensure that the baker has all the necessary inputs. It's the miracle of the market and prices that gets the job done so efficiently. What's called the market is simply a collection of millions upon millions of independent decision makers not only in America but around the world. Who or what coordinates the activities all of these people? Rest assuredly it's not a bakery czar.”

Walter E. Williams (1936) American economist, commentator, and academic

1970s, Economics for the Citizen (1978)

People , World , Disease , Question

“The spontaneous individual optimization that drives the theories with which I began is important, but it is not enough by itself. If spontaneous Coase‐style bargains, whether through laissez-faire or political bargaining and government, eliminated socially wasteful predation and obtained the institutions that are needed for a thriving market economy, then there would not be so many grossly inefficient and poverty-stricken societies.”

Mancur Olson (1932–1998) American economist

"Big Bills Left on the Sidewalk: Why Some Nations Are Rich, and Others Poor"

Optimism

“Capitalist development requires, as a precondition, that the state foster a general sociopolitical and legal framework conducive to market relationships. An environment of security of property and predictability is basic to encourage investment; in turn, this requires political stability and a minimum degree of social harmony.”

Richard Sandbrook (1946–2005) environmentalist

Source: The State and Economic Stagnation in Tropical Africa, p. 320

“The fatal conceit of Obamacare is that we’re just gonna make everybody buy our health insurance at the federal-government level, young and healthy people are going to go into the market and pay for the older, sicker people. So, the young healthy person is going to be made to buy health care, and they’re going to pay for the person, you know, gets breast cancer in her 40s or who gets heart disease in his 50s. […] The whole idea of Obamacare is … the people who are healthy pay for the people who are sick. It’s not working, and that’s why it’s in a death spiral.”

Paul Ryan (1970) American politician

Presentation for Capital Hill reporters, MSNBC "Paul Ryan flubs the basic idea behind insurance" http://www.msnbc.com/rachel-maddow-show/paul-ryan-flubs-the-basic-idea-behind-insurance 9 March 2017

Death , People , Health , Disease

“Thomas Friedman dismissed the protesters in Quebec City as members of the "Coalition to Keep Poor People Poor." …The Coalition to Keep Poor People Poor might as well disband; its apparent goal is being accomplished in spades by pro-market forces. If the prospects of the world's poor improving their lot is one that supposedly upsets anti-capitalist protestors, they can confidently put their gas masks and get back to the shopping mall - global capitalism can be trusted to keep the poor in check without any help.”

Linda McQuaig (1951) journalist and author

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

People , World , Confidence , Help

“Market power and externalities are examples of a general phenomenon called market failure—the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important.”

N. Gregory Mankiw (1958) American economist

Source: Principles of Economics (1998-), Ch. 7. Consumers, Producers, and the Efficiency of Markets; p. 150

Failure , Problem , Effort , Study

“The misconception that costs determined prices prevented economists for a long time from recognizing that it was prices which operated as the indispensable signals telling producers what costs it was worth expending on the production of the various commodities and services, and not the other way around. It was the costs which they had expended which determined the prices of things produced.It was this crucial insight which finally broke through and established itself about a hundred years ago through the so-called marginal revolution in economics.The chief insight gained by modern economists is that the market is essentially an ordering mechanism, growing up without anybody wholly understanding it, that enables us to utilize widely dispersed information about the significance of circumstances of which we are mostly ignorant. However, the various planners (and not only the planners in the socialist camp) and dirigists have still not yet grasped this.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

1980s and later, Knowledge, Evolution and Society (1983), "Coping with Ignorance"
Source: http://imprimis.hillsdale.edu/coping-with-ignorance/

Understanding , Time , Way

“It would appear that the Keynesian faithful have foisted on free-market capitalists an unfalsifiable theory. Evidence that contradicts it, Keynesian kooks enlist as evidence for the correctness of their theory.”

Ilana Mercer South African writer

"John Maynard Keynes: Where’s The Genius?! (Part 2) http://www.economicpolicyjournal.com/2013/08/john-maynard-keynes-wheres-genius-part-2.html Economic Policy Journal, August 23, 2013.
2010s, 2013

Faith , Appearance

“Alexander Gardner who later became the Colonel of Artillery in the service of Maharaja Ranjit Singh, had travelled extensively in Central Asia from 1819 to 1823 C. E. He saw a lot of slave-catching in Kafiristan, a province of Afghanistan, which was largely inhabited by infields at that time. He found that the area had been reduced to “the lowest state of poverty and wretchedness” as a result of raids by the Muslim king of Kunduz for securing slaves and supplying them to the slave markets in Balkh and Bukhara. He writes:
“All this misery was caused by the oppression of the Kunduz chief, who not content with plundering his wretched subjects, made an annual raid into the country south of Oxus, and by chappaos (night attacks) carried off all the inhabitants on whom his troops could lay their hands. These, after the best had been selected by the chief and his courtiers, were publicly sold in the bazaars of Turkestan. The principal providers of this species of merchandise were the Khan of Khiva, the king of Bokhara (the great hero of the Mohammedan faith), and the robber beg of Kunduz.
“In the regular slave markets, or in transactions between dealers, it is the custom to pay for slaves in money; the usual medium being either Bokharan gold tillahs (in value about 5 or 51/2 Company rupees each), or in gold bars or gold grain. In Yarkand, or on the Chinese frontier, the medium is the silver khurup with the Chinese stamp, the value of which varies from 150 to 200 rupees each. The price of a male slave varies according to circumstances from 5 to 500 rupees. The price of the females also necessarily varies much, 2 tillahs to 10,000 rupees. Even the double the latter sum has been known to have been given.
“However, a vast deal of business is also done by barter, of which we had proof at the holy shrine of Pir-i-Nimcha, where we exchanged two slaves for a few lambs’ skins! Sanctity and slave dealing may be considered somewhat akin in the Turkestan region, and the more holy the person the more extensive are generally his transactions in flesh and blood.””

Alexander Gardner (soldier)

Alexander Gardner subsequently found a Muslim fruit merchant at Multan “who was proved by his own ledger to have exchanged a female slave girl for three ponies and seven long-haired, red-eyed cats, all of which he disposed of, no doubt to advantage, to the English gentlemen at this station.”
Memoirs of Alexander Gardner, edited by Major Hugh Pearce, first published in 1898, reprint published from Patiala in 1970, quoted from Lal, K. S. (1994). Muslim slave system in medieval India. New Delhi: Aditya Prakashan. Chapter 1

Money , Faith , Travel , Girl

“Except for specialists such as market analysts and the like, economists as a professional group have had surprisingly little influence on businessman.”

Robert Aaron Gordon (1908–1978) American economist

Source: Business Leadership in the Large Corporation (1945), p. 259, footnote 26

“All I knew was that I’d flunked the third grade twice because I couldn’t learn to read, had a terrible time all through grammar school and high school. Then after ten years of writing, I was finally able to sell my first book to a leading mass-market paperback publisher in New York.”

Victor Villaseñor (1940) American writer

Burro Genius: A Memoir (2004)

Books , School , Learning , Time

“I think there is a world market for maybe five computers.”

Tom Watson (1874–1956) American businessman

Often dated to 1943. Thorough research of Watson's writings and statements have produced no example of him saying this. It appears to be a corruption of a remark by Howard Aiken that four or five computers could meet all of the United Kingdom's computing needs. See Ralph Keyes (2006), The Quote Verifier.
Misattributed

World , Thinking

“Economic life should be definancialised. We should learn not to use markets as storehouses of value: they do not harbour the certainties that normal citizens require. Citizens should experience anxiety about their own businesses (which they control), not their investments”

Nassim Nicholas Taleb (1960) Lebanese-American essayist, scholar, statistician, former trader and risk analyst

which they do not control
Ten principles for a Black Swan-proof world http://www.ft.com/cms/s/0/5d5aa24e-23a4-11de-996a-00144feabdc0.html?nclick_check=1, Financial Times, 2009-04-07.
Ten principles for a Black Swan-proof world (2009)

Life , Business , Learning

“Culture jamming is enjoying a resurgence, in part because of technological advancements but also more pertinently, because of the good old rules of supply and demand. Something not far from the surfaces of the public psyche is delighted to see the icons of corporate power subverted and mocked. There is, in short, a market for it. With commercialism able to overpower the traditional authority of religion, politics and schools, corporations have emerged a the natural targets for all sorts of free-floating rage and rebellion. The new ethos that culture jamming taps into is go-for-the-corporate-jugular.”

Naomi Klein (1970) Canadian author and activist

Source: No Logo: Taking Aim at the Brand Bullies 1999, Chapter Twelve, "Culture Jamming"

School , Religion , Nature , Rage

“At a time when our nation is suffering from an epidemic of diet-related health problems, we cannot allow whitewashing by the industry to continue. The assumption that eating dairy is essential to the diet has obstructed our ability to criticize federal government support for unhealthy forms of dairy. The large and powerful players in the dairy industry are the masters of spin. For decades, lobbyists and marketers have promoted milk as “nature’s perfect food.” But consumption patterns have shifted away from plain fluid milk to highly processed forms of dairy that are little more than vessels for salt, sugar, and fat.”

Michele Simon (1965) public health lawyer

Whitewashed (2014)

Health , Food , Support , Nature

“…new nuclear plants are simply unfinanceable in the private capital market, and the technology will continue to die of an incurable attack of market forces—all the faster in competitive markets. This is true not just in the U. S., where the last order was in 1978 and all orders since 1973 were cancelled, but globally.”

Amory B. Lovins (1947) American physicist

Winning the Oil Endgame http://www.oilendgame.com/, p. 258

“Exit and voice, that is, market and non market forces, that is, economic and political mechanisms, have been introduced as two principal actors of strictly equal rank and importance.”

Albert O. Hirschman (1915–2012) German-American economist; member of the French Resistance

Exit, Voice, and Loyalty (1970), Ch. 1. Introduction and Doctrinal Background.

“[Ike] was presiding over a situation in which history was turning into demography, in which judgment—and Ike possessed judgment with a capital J—was being drained out of every powerful situation, and marketing considerations were being pumped in.”

George W. S. Trow (1943–2006) American writer

My Pilgrim’s Progress (1999)

History

“Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables investors’ to indulge their suicidal instincts. No, the fund industry was hardly an innocent bystander in the market boom and the subsequent carnage. "We have met the enemy and he is us"… all of us.”

John Bogle (1929–2019)

Speech to Financial Analysts of Philadelphia, February 15, 2001 ( http://www.vanguard.com/bogle_site/sp20010215.html)

Suicide

“The order owes nothing to the housing needs of the British people. It is not designed to do so. It is just another example of the Tory Government slaughtering the housing needs and hopes of millions of people on the altar of the market economy, with all its gobbledegook about market forces and who will set and pay rents. I shall not say that this is a landlord's charter; it is worse than that. It is a profiteering landlord's charter. The rent officer will no longer be an independent objective person who ensures that a fair rent once fixed is adhered to and to whom one can appeal if a landlord tries to increase such a rent. People, particularly in London, will be harassed out of protected tenancies by con merchants and thrown on to the streets so that the private rented sector, the free market, can allow the level of rent to rise to its natural level—the highest that can be obtained…The effect of their deregulation has been to force up private sector rents, to have people thrown out on the streets, and there will be greater homelessness and profiteering by landlords…Most of those people who tonight are sleeping on the streets around Waterloo station, the National Theatre and along the South Bank, who are begging at the main stations of this city, who are sleeping over the grilles of tube stations on Charing Cross road, not long ago had somewhere to live. Those people are the victims of market forces, the victims of what this Government are doing and believe should be done to poor people, who cannot afford the landlords' rent.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1989/mar/21/rent-officers in the House of Commons (21 March 1989).
1980s

People , Hope , Nature , Sleep

“If women with the same skills as men were getting only 78 cents for every dollar a man earns, men would have long-since priced themselves out of the market.”

Ilana Mercer South African writer

"Barack Against the Boys," http://www.ilanamercer.com/phprunner/public_article_list_view.php?editid1=489 WorldNetDaily.com, March 13, 2009.
2000s, 2009

Women , Men

“The most serious criticism of EMU is that by abandoning exchange rate adjustments it transfers to the labor market the task of adjusting for competitiveness and relative prices… losses in output and employment (and pressure on the European central bank to inflate) will predominate.”

Rudiger Dornbusch (1942–2002) German economist

Euro fantasies, 1996

Loss

“In spite of such limitations, the New Institutional Economics research programme, given its willingness to acknowledge the central role played by information in the economic process, constitutes a marked advance over what is on offer from the neoclassical orthodoxy. There, information retains the status of the luminiferous ether of classical physics before Einstein: a ubiquitous medium that admitted of a mechanical account of action at a distance and kept the world conveniently Newtonian.
Institutional economics, however, needs a more explicit and dynamic theory of information flows if it is to make more than a dent in the neoclassical defences. Having established that there exists credible institutional alternatives to markets, it needs to show how information production and exchange underpins them all, shaping their internal evolution as well as how they collaborate and compete. In effect, what is needed is a theory of social learning that extends beyond the individual or the organization to encompass more complex institutional settings. Such as theory, I believe, is foreshadowed in Douglas North’s historical studies of institutions. It now needs further development.”

Max Boisot (1943–2011) British academic and educator

Source: Information Space, 1995, p. 290; As cited in: Ortiz et al. (2006)

World , Study , Learning

“An emerging market is a country where politics matters at least as much as economics to the market.”

Ian Bremmer (1969) American political scientist

"Managing Risk in an Unstable World," http://custom.hbsp.com/b01/en/implicit/product.jhtml?login=BREM060105&password=BREM060105&pid=1126 Harvard Business Review (June 2005).

Country

“The problem is not that we were once in charge, but that we are not in charge any more… Consider Uganda, pearl of Africa, as an example of the British record. … the British planted coffee and cotton and tobacco, and they were broadly right… If left to their own devices, the natives would rely on nothing but the instant carbohydrate gratification of the plantain. You never saw a place so abounding in bananas: great green barrel-sized bunches, off to be turned into matooke. Though this dish (basically fried banana) was greatly relished by Idi Amin, the colonists correctly saw that the export market was limited… The best fate for Africa would be if the old colonial powers, or their citizens, scrambled once again in her direction; on the understanding that this time they will not be asked to feel guilty.”

Boris Johnson (1964) British politician, historian and journalist

Discussing his views on Africans and "Instant Carbohydrate Gratification" The Spectator 2 February 2002
2000s, 2002

Fate , Feeling , Coffee , Understanding

“[Edward Heath], who sold out Britain's interests to the Common Market and gave our sovereignty away without our consent—with support of Mr Thorpe and the Liberals—is not entitled to wave the Union Jack to get himself out of the mess.”

Tony Benn (1925–2014) British Labour Party politician

Speech in Bristol (30 November, 1973), quoted in ' 'Democracy in danger' warning by Mr Benn', The Times (1 December, 1973), pp. 1-2
1970s

Support

“We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.”

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

1992 Chairman's Letter http://www.berkshirehathaway.com/letters/1992.html
Letters to Shareholders (1957 - 2012)

Children

“The 2008 financial meltdown is the result of under-regulated markets built on an ideology of free market capitalism and unlimited economic growth. The fundamental problem is that the underlying assumptions of this ideology are not consistent with what we now know about the real state of the world. The financial world is, in essence, a set of markers for goods, services, and risks in the real world and when those markers are allowed to deviate too far from reality, “adjustments” must ultimately follow and crisis and panic can ensue. To solve this and future financial crisis requires that we reconnect the markers with reality. What are our real assets and how valuable are they? To do this requires both a new vision of what the economy is and what it is for, proper and comprehensive accounting of real assets, and new institutions that use the market in its proper role of servant rather than master.”

Robert Costanza (1950) American economist

Source: Toward a New Sustainable Economy, 2008, p. 40

World , Problem , Reality , Future

“The situation in a number of countries reminds one that it's still a risky world out there in the emerging markets.”

Lawrence H. Summers (1954) Former US Secretary of the Treasury

Michael M. Phillips, The Wall Street Journal (April 16, 1999) "Global Economic Crisis In Its Last Days", Pittsburgh Post-Gazette, p. C-1.
1990s

World , Country

“The document normally kicks off with a lengthy description of current industry conditions and the competitive situation. Next is a discussion of how to increase market share, capture new segments, or cut costs, followed by an outline of numerous goals and initiatives. A full budget is almost invariably attached, as are lavish graphs and a surfeit of spreadsheets. The process usually culminates in the preparation of a large document culled from a mishmash of data provided by people from various parts of the organization who often have conflicting agendas… Executives are paralyzed by the muddle. Few employees deep down in the company even know what the strategy is.”

W. Chan Kim book Blue Ocean Strategy

Description of how an average strategic plan is being created. Kim further explains, that "... a closer look reveals that most plans don’t contain a strategy at all but rather a smorgasbord of tactics that individually make sense but collectively don’t add up to a unified, clear direction that sets a company apart—let alone makes the competition irrelevant. [p. 84]"
Source: Blue Ocean Strategy, 2005, p. 83-84 (2016 extended edition) As cited in: Paul R. Niven (2010). Balanced Scorecard Step-by-Step. p. 99

People , Parting

“Santo Domingo is fertile, and upon its soil may be grown just those tropical products of which the United States use so much, and which are produced or prepared for market now by slave labor almost exclusively, namely, sugar, coffee, dyewoods, mahogany, tropical fruits, tobacco, etc. About 75 per cent of the exports of Cuba are consumed in the United States. A large percentage of the exports of Brazil also find the same market. These are paid for almost exclusively in coin, legislation, particularly in Cuba, being unfavorable to a mutual exchange of the products of each country.”

Ulysses S. Grant (1822–1885) 18th President of the United States

1870s, Eighth State of the Union Address (1876)

Coffee , Country

“Since the 1980s, the American business cycle has been based on financial and credit bubbles, and therefore on the enrichment, through the capital markets, of a very small number of people in a very few places. Truly we have become a 'trickle-down economy' — as we were not before. A rising tide may lift all boats, but recent business cycles have been more like waves, whereby certain sectors and areas ride the peaks before crashing to the shore. This is a sign, surely, not of the social evil of inequality per se but of the instability of bubble economies, closely associated with inequality of income, wealth, and power, for which we now pay a fearsome price.”

James K. Galbraith (1952) economist

James K. Galbraith (2012), Inequality and Instability: A Study of the World Economy. p. 148; Cite in: " Muddling Towards the Next Crisis: James Kenneth Galbraith in conversation with The Straddler http://www.thestraddler.com/201310/piece2.php" at thestraddler.com, Winter 2013.

People , Business , Evil , Wealth

“The inhuman character of Stalinism was demonstrated by the repressions of prisoners of war who survived fascist camps and then were thrown into Stalinist camps, the anti-worker "decrees," the criminal exile of entire peoples condemned to slow death, the unenlightened zoological kind of anti-Semitism that was characteristic of Stalin bureaucracy and the NKVD (and Stalin personally), the Ukrainophobia characteristic of Stalin, and the draconian laws for the protection of socialist property (five years' imprisonment for stealing some grain from the fields and so forth) that served mainly as a means of fulfilling the demands of the "slave market."”

Andrei Sakharov (1921–1989) Soviet nuclear physicist and human rights activist

Progress, Coexistence and Intellectual Freedom (1968), Dangers, Police Dictatorships

Death , War , People , Law

“What can he do who lacks the necessary work, if he comes to be unemployed? He has nothing but to let himself die of hunger. Then a few phrases of pity will thrown on his cadaver. That's what I decided to leave to others. I preferred to make myself a black-marketer, forger, thief, murderer and assassin. I could have begged: it's degrading and cowardly and even punished by your laws that make a crime of poverty. If all those in need, instead of waiting, took wherever there was enough to be taken and by any means whatever, the satisfied would perhaps understand quicker that there is danger in trying to consecrate the current social condition, where worry is permanent and life threatened at every instant.”

Ravachol (1859–1892) French anarchist

Que peut-il faire celui qui manque du nécessaire en travaillant, s'il vient à chômer ? Il n'a qu'à se laisser mourir de faim. Alors on jettera quelques paroles de pitié sur son cadavre. C'est ce que j'ai voulu laisser à d'autres. J'ai préféré me faire contrebandier, faux-monnayeur, voleur, meurtrier et assassin. J'aurais pu mendier : c'est dégradant et lâche et même puni par vos lois qui font un délit de la misère. Si tous les nécessiteux, au lieu d'attendre, prenaient où il y a et par n'importe quel moyen, les satisfaits comprendraient peut-être plus vite qu'il y a danger à vouloir consacrer l'état social actuel, où l'inquiétude est permanente et la vie menacée à chaque instant.
Trial statement

Life , Hunger , Law , Understanding

“On a purely intellectual level, how does allowing China to constantly rig trade in its favor advance the core conservative goal of making markets more efficient? Markets do not run better when manufacturing shifts to China largely because of the actions of its government. Nor do they become more efficient when Chinese companies are given special privileges in global markets, while American companies must struggle to compete with unfairly traded goods.”

Robert Lighthizer (1947) US Trade Representative

LIGHTHIZER: Donald Trump is no liberal on trade http://www.washingtontimes.com/news/2011/may/9/donald-trump-is-no-liberal-on-trade/ (May 9, 2011)

“The acquisition of San Domingo is an adherence to the 'Monroe doctrine'; it is a measure of national protection; it is asserting our just claim to a controlling influence over the great commercial traffic soon to flow from west to east by way of the Isthmus of Darien; it is to build up our merchant marine; it is to furnish new markets for the products of our farms, shops, and manufactories; it is to make slavery insupportable in Cuba and Porto Rico at once, and ultimately so in Brazil; it is to settle the unhappy condition of Cuba and end an exterminating conflict; it is to provide honest means of paying our honest debts without overtaxing the people; it is to furnish our citizens with the necessaries of everyday life at cheaper rates than ever before; and it is, in fine, a rapid stride toward that greatness which the intelligence, industry, and enterprise of the citizens of the United States entitle this country to assume among nations.”

Ulysses S. Grant (1822–1885) 18th President of the United States

1870s, Second State of the Union Address (1870)

Life , People , Way , Intelligence

“Idiotic statements like “porn degrades women” or “pornography is the subordination of women” are only credible if you never look at pornography. Preachers, senators and feminist zealots carry on about material they have no direct contact with. They usually rely on a few selectively culled inflammatory examples that bear little resemblance to the porn market as a whole. Most pornography shows women in as many dominant as subordinate positions, with the latter usually steamily consensual.”

Camille Paglia (1947) American writer

Source: Vamps and Tramps (1994), "No Law in the Arena: A Pagan Theory of Sexuality", p. 65

Women

“The comics medium is a very specialized area of the Arts, home to many rare and talented blooms and flowering imaginations and it breaks my heart to see so many of our best and brightest bowing down to the same market pressures which drive lowest-common-denominator blockbuster movies and television cop shows. Let's see if we can call time on this trend by demanding and creating big, wild comics which stretch our imaginations. Let's make living breathing, sprawling adventures filled with mind-blowing images of things unseen on Earth. Let's make artefacts that are not faux-games or movies but something other, something so rare and strange it might as well be a window into another universe because that's what it is.”

Grant Morrison (1960) writer

2004
https://web.archive.org/web/20040803000924/http://www.popimage.com/content/grant20041.html Popimage interview
On comics

Art , Home , Imagination , Game

“Making the rich poorer does not make the poor richer, but it does make the state stronger—and it does increase the power of officials and politicians, power more menacing, more permanent and less useful than market power within the rule of law. Inequality of income can only be eliminated at the cost of freedom. The pursuit of income equality will turn this country into a totalitarian slum.”

Keith Joseph (1918–1994) British barrister and politician

Keith Joseph, Stranded on the Middle Ground? Reflections on Circumstances and Policies (Centre for Policy Studies, 1976).
1970s

Law , Freedom , Country

“The total effective demand for commodities in the market is limited to the number of units of money of account that dealers are prepared to offer, and the number they are prepared to offer over any period of time is limited according to the number they hope to receive.”

Ralph George Hawtrey (1879–1975) British economist

Source: Currency and Credit (1919), p. 3

Money , Hope , Time

“Valentine's Day is being marketed as a Date Movie. I think it's more of a First-Date Movie. If your date likes it, do not date that person again. And if you like it, there may not be a second date.”

Roger Ebert (1942–2013) American film critic, author, journalist, and TV presenter

Review http://www.rogerebert.com/reviews/valentines-day-2010 of Valentine's Day (10 February 2010)
Reviews, Two star reviews

Thinking , Personality

“Someone out there was using the fact that stock market orders arrived at different times at different exchanges to front-run orders from one market to another.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 50

Time

“Aside from anarcho-libertarianism, there are two contending ideas of libertarianism. In its broad sense, libertarianism is equated with civil liberties and political rights—what we usually mean by democracy. Sweden, Japan, and the United States would thus be almost equally libertarian. In its narrow sense, libertarianism is equivalent to classical liberal democracy, adding to democracy the requirement of a free market. India would then be less libertarian than Japan; Israel less libertarian than West Germany. Theoretically, liberal democracies should have significantly less violence than socialist democracies, but both should have significantly less than nondemocracies.”

Rudolph Rummel (1932–2014) American academic

“Libertarian Propositions on Violence Within and Between Nations: A Test Against Published Research Results," The Journal of Conflict Resolution, 29, Sage Publications, (September, 1985): pp. 419-455. https://www.hawaii.edu/powerkills/DP85.HTM

Democracy , Idea , Sense

“Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.”

Paul Ormerod book The Death of Economics

Part II, Chapter 7, Attractor Points, p. 140
The Death of Economics (1994)

Failure

“Like any internationalist, I embrace Scotland's interdependence and the advantages that such interdependence confers. But in international relations - perhaps even more than the economic sphere - there are major advantages to pursuing an independent policy that promotes Scotland's global interests. Indeed it precisely because we live in an interdependent world - one where markets are integrating and information flow is unstoppable - a world where the reality of climate change acts as a daily reminder of our reliance on each other - that independence matters. Interdependence is a welcome fact of modern global politics. What matters in the Scottish national interest - above all else - are the terms on which Scotland engages. The equality of esteem, of authority between nations matters more now than it has ever done.”

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

Scotland in the World Forum (February 4, 2008)

World , Reality , Change

“Previous research addressing market orientation from a cultural perspective typically has used behavioral measures of this construct. Drawing on literature in the fields of organizational theory and marketing, the authors develop a multilayer model of market-oriented organizational culture. They draw an explicit distinction among values that support market orientation, norms for market orientation, artifacts indicating high and low market orientation, and market-oriented behaviors. On the basis Of qualitative research and a subsequent survey, the authors develop scales for measuring the different layers of market-oriented culture and analyze relationships among the different components of market-oriented culture. Findings indicate that artifacts play a crucial role in determining behavior within organizations. Results also indicate that a market-oriented culture influences financial performance indirectly through market performance and that this relationship is stronger in highly dynamic markets.”

Christian Homburg (1962) German academic

Source: "A multiple-layer model of market-oriented organizational culture", 2000, p. 449 ; Abstract

Behavior , Literature , Support , Drawing

“I shall always regard this aspect of my dispute with Keynes as the greatest mistake of my professional career, and the book, The Great Depression, which I subsequently wrote, partly in justification of this attitude, as something which I would willingly see be forgotten. […] Now I still think that there is much in this theory as an explanation of a possible generation of boom and crisis. But, as an explanation of what was going on in the early ’30s, I now think it was misleading. Whatever the genetic factors of the pre-1929 boom, their sequelae, in the sense of inappropriate investments fostered by wrong expectations, were completely swamped by vast deflationary forces sweeping away all those elements of constancy in the situation which otherwise might have provided a framework for an explanation in my terms. The theory was inadequate to the facts. Nor was this approach any more adequate as a guide to policy. Confronted with the freezing deflation of those days, the idea that the prime essential was the writing down of mistaken investments and the easing of capital markets by fostering the disposition to save and reducing the pressure on consumption was completely inappropriate. To treat what developed subsequently in the way which I then thought valid was as unsuitable as denying blankets and stimulants to a drunk who has fallen into an icy pond, on the ground that his original trouble was overheating.”

Lionel Robbins (1898–1984) British economist

Autobiography of an Economist (1971), p. 154.

Books , Way , Idea , Thinking

“The absurdity of monetary system which robs people first of their fair share in the "free market economy" and then - through some of the most inefficient procedures imaginable - returns some of this money in the form of welfare payments to the same people, has rarely been exposed by the "experts" nor been discussed in public.”

Margrit Kennedy (1939–2013) German architect

Source: Interest and Inflation Free Money (1995), Chapter Three, Who Would Profit From a New Monetary System?, p. 71

Money , People , Imagination

“The popes … noted that when they led the little sheep to books, their junk market did not prosper and people wanted to know what is godly or ungodly, right or wrong.”

Andreas Karlstadt (1486–1541) German theologian

Source: On the Removal of Images (1522), p. 107

People , Books

“There are more idealized definitions of capitalism, but I refer to the real capitalism—the kind we are living with. This capitalism is grounded in an elitist ideology of individualism supported by an institutional system devoted to the concentration and abuse of wealth for the exclusive benefit of a private ruling oligarchy. It is the capitalism that claims to champion democracy and markets even as it destroys them. The capitalism that claims to bring universal prosperity even wile denying it to all but its most favored servants. The capitalism that destroys life to make money and organizes as a suicide economy that destroys the foundations of its own existence—and ours.”

David Korten book When Corporations Rule the World

Source: When Corporations Rule the World (1995,2015), pp. 20-21

Life , Money , Democracy , Support

“Our achievement…has been to show that you can build far greater, and far more lasting, prosperity by letting people co-operate in the freedom of the market place than by making them submit to the coercion of Government regulations and state bureaucracy. If you look around the world today, East and West, even in Soviet Russia and Communist China, you will see that lesson being taken to heart…The truth is that a prosperous world based on free and open markets is a world of co-operation and interdependence between the people of all nations. By contrast, a world of closed, State controlled economies is a world disposed towards confrontation and conflict.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Conservative Party Conference (13 October, 1988).

People , Truth , World , Freedom

“The next level of causal texturing we have called the disturbed reactive environment. It may be compared with Ashby's ultra-stable system or the economists' oligopolic market.”

Fred Emery (1925–1997) Australian psychologist

Source: The Causal Texture of Organizational Environments (1963), p. 29.

“It seems to me that today, if the artist wishes to be serious — to cut out a little original niche for himself, or at least preserve his own innocence of personality — he must once more sink himself in solitude. There is too much talk and gossip; pictures are apparently made, like stock-market prices, by competition of people eager for profit; in order to do anything at all we need (so to speak) the wit and ideas of our neighbors as much as the businessmen need the funds of others to win on the market. All this traffic sharpens our intelligence and falsifies our judgment.”

Edgar Degas (1834–1917) French artist

Quote from Degas' Notebook entry c. 1860's; as quoted in Artists on Art: From the XIV to the XX Century, ed. Robert Goldwater (Pantheon, 1945)
1855 - 1875

People , Intelligence , Idea , Solitude

“What’s odd about Friedman’s absolutism on the virtues of markets and the vices of government is that in his work as an economist’s economist he was actually a model of restraint. As I pointed out earlier, he made great contributions to economic theory by emphasizing the role of individual rationality—but unlike some of his colleagues, he knew where to stop. Why didn’t he exhibit the same restraint in his role as a public intellectual?
The answer, I suspect, is that he got caught up in an essentially political role. Milton Friedman the great economist could and did acknowledge ambiguity. But Milton Friedman the great champion of free markets was expected to preach the true faith, not give voice to doubts. And he ended up playing the role his followers expected. As a result, over time the refreshing iconoclasm of his early career hardened into a rigid defense of what had become the new orthodoxy.
In the long run, great men are remembered for their strengths, not their weaknesses, and Milton Friedman was a very great man indeed—a man of intellectual courage who was one of the most important economic thinkers of all time, and possibly the most brilliant communicator of economic ideas to the general public that ever lived. But there’s a good case for arguing that Friedmanism, in the end, went too far, both as a doctrine and in its practical applications. When Friedman was beginning his career as a public intellectual, the times were ripe for a counterreformation against Keynesianism and all that went with it. But what the world needs now, I’d argue, is a counter-counterreformation.”

Paul Krugman (1953) American economist

"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

Men , World , Faith , Communication

“I have already informed my readers, that bull-baiting, or worrying of bulls with dogs, was one of the spectacles exhibited by the jugglers and their successors. It is also necessary to observe, that this cruel pastime was not confined to the boundaries of the bear-gardens; but was universally practiced on various occasions, in almost every town or village throughout the kingdom, and especially in market towns, where we find it was sanctioned by the law; and in some of them, I believe, the bull-rings, to which the unfortunate animals were fastened, are remaining to the present hour. It may seem strange, that the legislature should have permitted the exercise of such a barbarous diversion, which was frequently productive of much mischief by drawing together a large concourse of idle and dissipated persons, and affording them an opportunity of committing many grross disorders with impunity. Indeed a public bull-baiting rarely ended without some riot and confusion.”

Joseph Strutt (1749–1802) British engraver, artist, antiquary and writer

pg. 277
The Sports and Pastimes of the People of England (1801), Public entertainment

Law , Dogs , Exercises , Universe

“When we approach the study of business cycle with the intention of carrying through an analysis that is truly dynamic and determinate in the above sense, we are naturally led to distinguish between two types of analyses: the micro-dynamic and the macro-dynamic types. The micro-dynamic analysis is an analysis by which we try to explain in some detail the behaviour of a certain section of the huge economic mechanism, taking for granted that certain general parameters are given. Obviously it may well be that we obtain more or less cyclical fluctuations in such sub-systems, even though the general parameters are given. The essence of this type of analysis is to show the details of the evolution of a given specific market, the behaviour of a given type of consumers, and so on.”

Ragnar Frisch Propagation problems and impulse problems in dynamic economics

Source: 1930s, Propagation problems and impulse problems in dynamic economics, 1933, p. 2

Business , Nature , Sense , Study

“Truly Conservative policies [are] freeing markets, freeing the economy, giving the economy buoyancy, moving to liberty and the desirable goal of freeing payments and trade.”

Rab Butler (1902–1982) British politician

Speech at the Conservative Party conference of 1954, quoted in Ralph Harris, Politics Without Prejudice. A Political Appreciation of The Rt. Hon. Richard Austen Butler C.H., M.P. (London: Staples Press, 1956), p. 159.