Quotes about unemployment

A collection of quotes on the topic of unemployment, economics, people, work.

Quotes about unemployment

“Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. If government spending is financed by borrowing from the commercial banks, it means credit expansion and inflation. If in the course of such an inflation the rise in commodity prices exceeds the rise in nominal wage rates, unemployment will drop. But what makes unemployment shrink is precisely the fact that real wage rates are falling.”

Ludwig von Mises book Socialism

Socialism (1922), Epilogue (1947)

“Unemployment insurance is a pre-paid vacation for freeloaders.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

As quoted in Sacramento Bee (28 April 1966)
1960s

“Welcome baby,
It's your turn to live,
They lie in wait for you, chicken pox, whooping cough, smallpox,
Malaria, TB, heart disease, cancer, and so on.
Unemployment, hunger, and so on.
Train wrecks, bus accidents, plane crashes, work accidents,
Earthquakes, floods, droughts, and so on.
Heartbreak, alcoholism, and so on.
Nightsticks, prison doors, and so on.
They lie in wait for you, the atom bomb, and so on.
Welcome baby,
It's your turn to live.
They lie in wait for you, socialism, communism, and so on.”

Nâzım Hikmet (1902–1963) Turkish poet

From Welcome (10 September 1961)

Hunger, Alcohol, Lie, Disease

“Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.”

Ludwig von Mises book Socialism

Part V : The Economics of a Socialist Community, § V : Destructionism, Ch. 33 : The Motive Powers of Destructionism, p. 440 http://www.econlib.org/library/Mises/msS12.html#V.34.35,Ch.33 Socialism (1922)

People, Training

“In terms of the unemployed… don't feel particularly bad for many of these people. They don't feel bad about it themselves, as long as they're receiving generous social assistance and unemployment insurance.”

Stephen Harper (1959) 22nd Prime Minister of Canada

1990s, Speech to the Council for National Policy (1997)

People, Feeling

“No one thought about what kind of society we were building with such stupid decisions. People who could afford to educate their children in private schools were glad to see the government finally stop wasting their tax money, educating other people’s children. They seemed to think they lived on Mars. They imagined that a country filled with poor, uneducated, unemployable people somehow wouldn’t hurt them!”

Octavia E. Butler book Parable of the Talents

Source: Parable of the Talents (1998), Chapter 20 (p. 404)

Money, Children, People, Stupidity

“The Soviet Union in Europe and Asia stands today a continuing challenge to the tottering capitalism of the western world. While trade depression and slump and unemployment and repeated crises paralyse capitalism, and the old order gasps for breath, the Soviet Union is a land full of hope and energy and enthusiasm, feverishly building away and establishing the socialist order. And this abounding youth and life, and the success the Soviet Union has already achieved, are impressing and attracting thinking people all over the world.”

Jawaharlal Nehru book Glimpses of World History

Glimpses of World History (1949)

Life, People, Youth, World

“Japan had come to terms with Russia because of her difficulties, but this did not mean approval of communism. Communism meant the end of emperor-worship, and feudalism and the exploitation of the masses by the ruling class, and indeed almost everything that the existing order stood for… But communism is the outcome of widespread misery due to social conditions, and unless these conditions are improved, mere repression can be no remedy. There is a terrible misery in Japan at present. The peasantry, as in China and India, are crushed under a tremendous burden of debt. Taxation, especially because of heavy military expenditure and war needs, is very heavy. Reports come of starving peasants trying to live on grass and roots, and of selling even their children. The middle classes are also in a bad way owing to unemployment and suicides have increased.”

Jawaharlal Nehru book Glimpses of World History

Glimpses of World History (1949)

War, Bad luck, Children, Way

“Many people today see genes as a reason for aberrant behavior, but the major influences have been shown to be environmental... What is considered appropriate behavior today may be considered un-sane in the future...Better values, ideals, and behavior cannot be fully realized while there is still hunger, unemployment, deprivation, war, and poverty.”

Jacque Fresco (1916–2017) American futurist and self-described social engineer

Source: Designing the Future (2007), p. 19

Hunger, War, People, Behavior

“Since we are developing a lot of small and medium-sized enterprises, we are trying to make all these industries free by the private sector to increase productivity nationwide to make things for domestic use and export, and at the same time create jobs so that there is no unemployment.”

Syngman Rhee (1875–1965) first president of South Korea (1875-1965)

Source: Inaugural address (15 August 1956)

Time

“Unemployment is capitalism's way of getting you to plant a garden.”

Orson Scott Card (1951) American science fiction novelist

Way

“Poor people wait a lot. Welfare, unemployment lines, laundromats, phone booths, emergency rooms, jails, etc.”

Lucia Berlin (1936–2004) American writer

Source: A Manual for Cleaning Women: Selected Stories

People, Waiting

“Can you ever "solve" poverty? Can you ever "solve" crime? Can you ever "solve" disease, unemployment, war, or any other societal herpes? Hell no.”

Max Brooks book World War Z

Source: World War Z: An Oral History of the Zombie War

War, Disease, Hell

“…on youth unemployment — governments should ensure that one out of three of jobs in the public sector are opened up to the youth and that at least one person in every household should have access to a job.”

Tawakkol Karman (1979) Yemeni journalist, politician, human rights activist, and Nobel Peace Prize recipient

2000s, Youth Q&A on the U.N. High-Level Panel on the Post-2015 Agenda Report (2009)

Youth, Personality

“For those who labor, I propose to improve unemployment insurance, to expand minimum wage benefits, and by the repeal of section 14(b) of the Taft-Hartley Act to make the labor laws in all our states equal to the laws of the 31 states which do not have tonight right-to-work measures. And I also intend to ask the Congress to consider measures which, without improperly invading state and local authority, will enable us effectively to deal with strikes which threaten irreparable damage to the national interest. The third path is the path of liberation. It is to use our success for the fulfillment of our lives. A great nation is one which breeds a great people. A great people flower not from wealth and power, but from a society which spurs them to the fullness of their genius. That alone is a Great Society. Yet, slowly, painfully, on the edge of victory, has come the knowledge that shared prosperity is not enough. In the midst of abundance modern man walks oppressed by forces which menace and confine the quality of his life, and which individual abundance alone will not overcome. We can subdue and we can master these forces—bring increased meaning to our lives—if all of us, government and citizens, are bold enough to change old ways, daring enough to assault new dangers, and if the dream is dear enough to call forth the limitless capacities of this great people.”

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

1960s, State of the Union Address (1966)

Life, People, Law, Dreams

“It's just, like, a total catastrophe, the unemployment rates, everything is bad — no health care, no education, no anything, no anything. And poverty is unbelievable. Then, I said, ‘Hey, wait a minute, vote for me. What have you got to lose? You can't do worse, you can't do any worse than what these people have been doing and I will do better.”

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

About African Americans in the United States, interview with Fox News Jeanine Pirro. https://www.youtube.com/watch?v=jBmp7z9BR1w (August 21, 2016) 2010s, 2016, August

People, Health, Education, Waiting

“Colander: What’s your view of the New Keynesian approach?
Tobin: I’m not sure what that means. If it means people like Greg Mankiw, I don’t regard them as Keynesians. I don’t think they have involuntary unemployment or absence of market clearing. It is a misnomer to call Mankiw any form of Keynesian.
Colander: How about real-business-cycle theorists?
Tobin: Well, that’s just the enemy.”

David Colander (1947) American economist

David Colander, "Conversations with James Tobin and Robert J. Shiller on the “Yale Tradition” in Macroeconomics", Macroeconomic Dynamics (1999), later published in Inside the economist’s mind: conversations with eminent economists (2007) edited by Paul A. Samuelson and William A. Barnett.
1990s

People, Business, Thinking

“Now most serious thinkers acknowledge that dislocations in the market operation of our economy and the prevalence of discrimination thrust people into idleness and bind them in constant or frequent unemployment against their will. The poor are less often dismissed from our conscience today by being branded as inferior and incompetent. We also know that no matter how dynamically the economy develops and expands, it does not eliminate all poverty.”

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

1960s, Address to Local 815, Teamsters and the Allied Trades Council (1967)

People

“Three grossly different types of stigma may be mentioned. First there are abominations of the body - the various physical deformities. Next there are blemishes of individual character perceived as weak will, domineering or unnatural passions, treacherous and rigid beliefs, and dishonesty, these being inferred from a known record of, for example, mental disorder, imprisonment, addiction, alcoholism, homosexuality, unemployment, suicidal attempts, and radical political behaviour. Finally there are the tribal stigma of race, nation, and religion, these being stigma that can be transmitted through lineages and equally contaminate all members of a family.”

Erving Goffman book Stigma

Source: 1950s-1960s, Stigma, 1963, p. 13

Alcohol, Family, Religion, Suicide

“There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists… Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.”

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

Autobiographical Essay (2001)

“Wherever we look the dreadful disintegration of the bridges of life, the capillaries and the bodies they have created, is evident, which has been caused by the mechanical and mindless work of man, who has torn away the soul from the Earth's blood - water. The more the engineer endeavors to channel water, of whose spirit and nature he is today still ignorant, by the shortest and straightest route to the sea, the more the flow of water weighs into the bends, the longer its path and the worse the water will become. The spreading of the most terrible disease of all, of cancer, is the necessary consequence of such unnatural regulatory works. These mistaken activities - our work - must legitimately lead to increasingly widespread unemployment, because our present methods of working, which have a purely mechanical basis, are already destroying not only all of wise Nature's formative processes, but first and foremost the growth of the vegetation itself, which is being destroyed even as it grows. The drying up of mountain springs, the change in the whole pattern of motion of the groundwater, and the disturbance in the blood circulation of the organism - Earth - is the direct result of modern forestry practices. The pulse-beat of the Earth was factually arrested by the modern timber production industry. Every economic death of a people is always preceded by the death of its forests. The forest is the habitat of water and as such the habitat of life processes too, whose quality declines as the organic development of the forest is disturbed. Ultimately, due to a law which functions with awesome constancy, it will slowly but surely come around to our turn. Our accustomed way of thinking in many ways, and perhaps even without exception, is opposed to the true workings of Nature. Our work is the embodiment of our will. The spiritual manifestation of this work is its effect. When such work is carried out correctly, it brings happiness, but when carried out incorrectly, it assuredly brings misery.”

Viktor Schauberger (1885–1958) austrian philosopher and inventor

Viktor Schauberger: Our Senseless Toil (1934)

Life, Death, Happiness, People

“These coups did not bolster indigenous rights as claimed by its perpetrators instead they left us a legacy of a shattered economy, lost opportunities, racial rivalries and tensions, political divisiveness, unprecedented levels of poverty and unemployment and so on - yes that is exactly what the three coups have reduced our nation to.”

Mahendra Chaudhry (1942) Fijian politician

Address to the conference of the Fiji Labour Party, Lautoka, 31 July 2005

“The country has great and imperative obligations to the weak, the sick, the unfortunate. It must give to them all the sustenance and support it can. We look forward to social and unemployment insurances, to improved health services, to a wiser control of our economy to avert if possible all booms and slumps which tend to convert labour into a commodity, to a better distribution of wealth, to a keener sense of social justice and social responsibility. We not only look forward to these things, we shall demand and obtain them.”

Robert Menzies (1894–1978) Australian politician, 12th Prime Minister of Australia

Freedom from Want radio talk, July 10, 1942 (the fifth of "The Forgotten People" series)
Wilderness Years (1941-1949)
Source: http://menziesvirtualmuseum.org.au/transcripts/the-forgotten-people/63-chapter-5-freedom-from-want

Health, Justice, Support, Sense

“Poets serious about making careers in institutions understand that the criteria for success are primarily quantitative. They must publish as much as possible as quickly as possible. The slow maturation of genuine creativity looks like laziness to a committee. Wallace Stevens was forty-three when his first book appeared. Robert Frost was thirty-nine. Today these sluggards would be unemployable.”

Dana Gioia (1950) American writer

Essays, Can Poetry Matter? (1991)

Books, Understanding, Appearance, Success

“Trade unions and strikes cannot help in times of crisis when there is no demand for this “commodity”, they cannot change the conditions which, convert labour-power into a commodity and which doom the masses of working people to dire need and unemployment. To change these conditions, a revolutionary struggle against the whole existing social and political system is necessary; the industrial crisis will convince very many workers of the justice of this statement.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Collected Works, Vol. 5, pp. 25–30.
Collected Works

People, Justice, Change, Time

“10 per cent inflation is not heaven and the factors are all still there to push it up much further next year. Nor has the Government any policy adequate to deal with unemployment. It is not capitalism that is in crisis. It is Socialism that is in collapse. The faith has vanished. The principles are shattered. It won't do for Liberals merely to say they will put on the brakes. Even if you slow down the Gadarene swine, they will go over the precipice eventually.”

Jo Grimond (1913–1993) British soldier, politician and academic

In The Spectator (21 January, 1978).

Faith, Swine

“And so it is, seven years nearly after the War, that we yet see this prolonged and intensified depression, and this horrible figure of unemployment…We stand to-day at a point where, roughly speaking, one out of every ten of the insured population is out of work…But there is no direct remedy from the State alone. There can be no direct remedy by private men alone. Nothing can be done unless we can all pull together with a will. And I am—and I speak seriously—quite profoundly thankful that the Labour Party have been in office, and for this reason: that they now know that they, no more than any other Government, have been able to produce a panacea that would remedy unemployment. And in their hearts they must admit that they have no remedy which can be guaranteed to cure this disease and at the same time maintain unimpaired the international position and power of the British Empire.”

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

Speech in Birmingham (5 March 1925), quoted in On England, and Other Addresses (1926), pp 30-31.
1925

Men, War, Disease, Time

“Ever since the Industrial Revolution, Western society has benefited from science, logic, and reductionism over intuition and holism. Psychologically and politically we would much rather assume that the cause of a problem is “out there,” rather than “in here.” It’s almost irresistible to blame something or someone else, to shift responsibility away from ourselves, and to look for the control knob, the product, the pill, the technical fix that will make a problem go away.
Serious problems have been solved by focusing on external agents — preventing smallpox, increasing food production, moving large weights and many people rapidly over long distances. Because they are embedded in larger systems, however, some of our “solutions” have created further problems. And some problems, those most rooted in the internal structure of complex systems, the real messes, have refused to go away.
Hunger, poverty, environmental degradation, economic instability, unemployment, chronic disease, drug addiction, and war, for example, persist in spite of the analytical ability and technical brilliance that have been directed toward eradicating them. No one deliberately creates those problems, no one wants them to persist, but they persist nonetheless.
That is because they are intrinsically systems problems-undesirable behaviors characteristic of the system structures that produce them. They will yield only as we reclaim our intuition, stop casting blame, see the system as the source of its own problems, and find the courage and wisdom to restructure it.”

Donella Meadows (1941–2001) American environmental scientist, teacher, and writer

Pages 3-4.
Thinking in systems: A Primer (2008)

Wisdom, Hunger, War, People

“We are in a country that's in deep crisis at this particular juncture; all indicators are bad, not only in terms of terrorism and security. There is high unemployment; marginalised people; poor social.”

Raid Jahid Fahmi (1950) Iraqi politician

Interview with Al Jazeera (25 May 2018)

People, Country

“In this country over the last five years pay has doubled, whereas output has slightly fallen. That is totally different from the position with many of our competitors. Pay in those countries has gone up hand in hand with productivity. Consequently, they have the jobs and we have a larger proportion of the unemployment.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Prime Minister's Questions (2 June 1981) http://www.margaretthatcher.org/document/104659 First term as Prime Minister

Country

“I have… instituted systematic, voluntary measures of cooperation with the business institutions and with State and municipal authorities to make certain that fundamental businesses of the country shall continue as usual, that wages and therefore consuming power shall not be reduced, and that a special effort shall be made to expand construction work in order to assist in equalizing other deficits in employment… I am convinced that through these measures we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented. Agricultural prices have reflected the returning confidence. The measures taken must be vigorously pursued until normal conditions are restored.”

Herbert Hoover (1874–1964) 31st President of the United States of America

State of the Union Address (3 December 1929)

Confidence, Business, Effort, Suffering

“High taxes, over-regulation, and an anti-business attitude are clearly the cause of our economic problems. Our economy is floundering, and too many Marylanders have been struggling, just to get by. 40 consecutive tax hikes have taken an additional $10 billion out of the pockets of struggling Maryland families and small businesses. We've lost more than 8,000 businesses, and Maryland's unemployment nearly doubled.”

Larry Hogan (1956) American politician

" State of the State Address: A New Direction for Maryland http://governor.maryland.gov/2015/02/04/state-of-the-state-address/" (4 February 2015)

Family, Business, Problem

“We all, or nearly all, consent If wages rise by ten per cent It puts a choice before the nation Of unemployment or inflation.”

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

Kenneth Boulding (1951) in: The impact of the Union: eight economic theorists evaluate the labor union movement. John Maurice Clark & David McCord Wright eds.
1950s

“My interest in economics had the following roots. Like many of my generation I considered the heavy unemployment in the United Kingdom in the inter-war period as both stupid and wicked. Moreover, I knew the cure for this evil, because I had become a disciple of the monetary crank, Major C. H. Douglas, to whose works I had been introduced by a much loved but somewhat eccentric maiden aunt. But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.”

James Meade (1907–1995) British economist

"James E. Meade - Biographical," 1977

Love, War, Stupidity, Study

“I find it amazing now that my first economics class, taught by Alan Sweezy, used John Maynard Keynes’s General Theory of Income and Employment as the textbook. Although this book is one of the most influential works of the twentieth century, it makes a really lousy textbook. Moreover, since I now regard Keynes’s analysis as seriously flawed, it is surprising that I enjoyed the course so much. As a student, I appreciated the simple way that the Keynesian model explained the workings and failings of the overall economy. Especially appealing were the clever policy remedies, such as increased government spending and tax cuts, that Keynes recommended to combat unemployment. Too bad that I discovered later that the model was theoretically and empirically deficient!”

Robert Barro (1944) American classical macroeconomist

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

Books, Way

“The poverty and unemployment which we came into existence to fight have been largely conquered”

Barbara Castle (1910–2002) British politician

Source: 1959, Nicholas Timmins: The five giants: a biography of the welfare state. HarperCollins, 1995. Pp 254-255

Fight

“Barack Obama has failed America. When he took office, the economy was in recession. He made it worse. And he made it last longer. Three years later, over 16 million Americans are out of work or have just quit looking. Millions more are underemployed. Three years later, unemployment is still above 8%, a figure he said his stimulus would keep from happening. Three years later, foreclosures are still at record levels. Three years later the prices of homes continue to fall. Three years later, our national debt has grown nearly as large as our entire economy. Families are buried under higher prices for food and higher prices for gasoline. It breaks my heart to see what's happening in this country. These failing hopes make up President Obama's own misery index. It's never been higher.”

Mitt Romney (1947) American businessman and politician

Mitt Romney 2012 Presidential Campaign Announcement Speech http://blog.4president.org/2012/2011/06/mitt-romney-2012-presidential-campaign-announcement-speech-june-2-2011-stratham-new-hampshire-remark.html 2011

Family, Food, Hope, Home

“In the course of some ninety years, the wheel has certainly turned full circle. The Protectionist case, which seemed to most of our fathers and grandfathers so outrageous, even so wicked, has been re-stated and carried to victory. Free Trade, which was almost like a sacred dogma, is in its turn rejected and despised… many acute and energetic minds in the ’forties “looked to the end.” They foresaw what seemed beyond the vision of their rivals— that after the period of expansion would come the period of over-production… [Disraeli] perceived only too clearly the danger of sacrificing everything to speed. Had he lived now, he would not have been surprised. The development of the world on competitive rather than on complementary lines; the growth of economic nationalism; the problems involved in the increasing productivity of labour, both industrial and agricultural; the absence of any new and rapidly developing area offering sufficient attractive opportunities for investment; finally, the heavy ensuing burden of unemployment, in every part of the world— all these phenomena, so constantly in our minds as part of the conditions of crisis, would have seemed to the men of Manchester nothing but a hideous nightmare. Disraeli would have understood them. I think he would have expected them.”

Harold Macmillan (1894–1986) British politician

‘Preface’ to Derek Walker-Smith, The Protectionist Case in the 1840s (Oxford: Basil Blackwell, 1933), pp. vii-viii.
1920s-1950s

Men, World, Problem, Thinking

“Science has made great progress in this world. Where we used to engage a thousand men to work, now a bulldozer does the work in seconds. But that makes a thousand people useless and unemployed. While unemployment is increasing in the world, people have lost their peace of mind. The reason for this is because man has ceased to work. Due to this inaction, all kind of pains and sicknesses are increasing in the world. I want you to take the energy of the machines into yourself and work like machines!”

Haidakhan Babaji teacher in northern India

Karma yoga
Source: The Teachings of Babaji, 20 November 1983.

Men, Pain, People, World

“The role of expectations is not limited to monetary policy but is crucial in many areas of economics, as Bob showed in his later research on investment, unemployment, taxation, public debt management, and asset pricing. In all of these situations, the appropriate evaluation of policy takes account of the way that expectations would be rationally formed.”

Robert Barro (1944) American classical macroeconomist

Source: Nothing Is Sacred (2002), p. 29

Way

“Four spectres haunt the Poor — Old Age, Accident, Sickness and Unemployment. We are going to exorcise them. We are going to drive hunger from the hearth. We mean to banish the workhouse from the horizon of every workman in the land.”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

Speech in Reading (1 January 1910)
Chancellor of the Exchequer

Hunger, Age

“Fragments of information, indicative of a widespread poverty, fall under the following heads: Pauperism, the general distress, the number of evictions, the pauper burials; the overcrowding and insanitation due to improper housing; the death rate from tuberculosis; the amount of unemployment; and the number of accidents in certain trades. By means of such data as we have concerning these conditions, a partial, but of course a most imperfect, comparison can be made between the poverty of England and that of the United States.”

Robert Hunter (author) (1874–1942) American sociologist, author, golf course architect

Source: Poverty (1912), p. 20

Death, Housing

“One interesting footnote: although Friedman made great strides in macroeconomics by applying the concept of individual rationality, he also knew where to stop. In the 1970s, some economists pushed Friedman’s analysis of inflation even further, arguing that there is no usable trade-off between inflation and unemployment even in the short run, because people will anticipate government actions and build that anticipation, as well as past experience, into their price-setting and wage-bargaining. This doctrine, known as “rational expectations,” swept through much of academic economics. But Friedman never went there.”

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

People, Past

“Economics is a subject that really relates to core aspects of human well-being, and there’s a methodology for thinking about these things. This was a very appealing combination to me. Market systems are capable of massive breakdowns that can result in long, devastating periods of high unemployment. And I felt that economists had really learned something about how to address that.”

Janet Yellen (1946) American economist and professor

The Hand on the Lever (2014)

Thinking, Learning

“Poverty and inequality like this should cause Europeans to cringe in horror, especially since (we have it on good authority) there is no safety net in America, no unemployment benefits, no retirement, no assistance for the destitute--not the slightest bit of social solidarity. In the U. S. "only the most fortunate have the right to medical care and to grow old with dignity," as one writer recently put it in Libération. University courses are reserved only for those who can pay, which partly explains the "low level of education" in the benighted US.”

Jean-François Revel (1924–2006) French writer and philosopher

2000s, Europe's Anti-American Obsession (2003)

Education, Universe

“We had for our guide the wish of the founder [of the Pilgrim Trust] that we should devote ourselves specially to the conservation of the heritage of Britain, and we knew that this meant not only its material heritage of institutions and buildings and places of beauty and historical association, but also the nation's spiritual and intellectual heritage in the character and well-being of the people, then passing through the ordeal of widespread unemployment and distress, with all the accompanying risks of deterioration. So we regarded ourselves, as it were, as a salvage corps, and decided to divide our assistance between these two types of objects.”

Hugh Macmillan, Baron Macmillan (1873–1952) British judge

Source: A Man of Law's Tale (1952), In London, p. 286-7

People, Beauty

“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of colonists to get power to issue their own money permanently out of the hands of George the III and the international bankers was the PRIME reason for the Revolutionary War.”

Benjamin Franklin (1706–1790) American author, printer, political theorist, politician, postmaster, scientist, inventor, civic activist, …

Widely quoted statement on the reasons for the American War of Independence sometimes cited as being from Franklin's autobiography, but this statement was never in any edition.
Variants from various small publications from the 1940s:
The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution.
The refusal of King George to allow the Colonies to operate on an honest Colonial system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution.
The refusal of King George to allow the colonies to operate on an honest, colonial money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution.
Some of the statement might be derived from those made during his examination by the British Parliament in February 1766, published in "The Examination of Benjamin Franklin" in The Parliamentary History of England from the Earliest Period to the Year 1803‎ (1813); when questioned why Parliament had lost respect among the people of the Colonies, he answered: "To a concurrence of causes: the restraints lately laid on their trade, by which the bringing of foreign gold and silver into the Colonies was prevented; the prohibition of making paper money among themselves, and then demanding a new and heavy tax by stamps; taking away, at the same time, trials by juries, and refusing to receive and hear their humble petitions".
Misattributed
Variant: The colonies would gladly have borne the little tax on tea and other matters had it not been that England and the Rothschild's Bank took away from the colonies their money which created unemployment, dissatisfaction and debt.

Money, War, Tea

“I felt I wanted to talk about the Fed’s mission, and I wanted to do so in understandable terms, and to emphasize that unemployment is part of our mission. The recession has taken a particularly heavy toll on those who have less education and income—middle-income and low-income families—and the Fed’s concern with the job market is a theme I’ve wanted to get across. Why are we doing all these things that are in the newspapers all the time? I was trying to explain that we’re doing this to help American families who are struggling in the aftermath of the Great Recession.”

Janet Yellen (1946) American economist and professor

The Hand on the Lever (2014)

Education, Family, Understanding, Time

“Black unemployment is terrible. The black frame of mind is terrible, they're depressed, they're down — Obama's not doing anything for 'em. How is that hoax and change workin' for ya? They're all livid. I mean, they thought there were gonna be an exact 180-degree economic reversal and it's done nothing but get bad for everybody, but they're especially upset about it because they look at him as one of them, and now they feel abandoned. And I'm sure Tiger Woods' choice of females not helping 'em out with their attitudes there either.”

Rush Limbaugh (1951) U.S. radio talk show host, Commentator, author, and television personality

On the Black state of mind, The Rush Limbaugh Show, December 8, 2009 http://mediamatters.org/mmtv/200912080019

Feeling, Change, Help

“The skills and productivity of American Workers, not to mention the taxes they pay, are the greatest economic resource our country has. To condemn large numbers of them to unemployment, to deprive the Treasury of their tax contributions and to force them to live on unemployment at public expense is the most expensive luxury any society ever chose to buy.”

Lane Kirkland (1922–1999) American labor leader

Cited in The AFL-CIO American Federationist, Vols. 84-86 (1977), p. 4.

Country

“I look back with pride to the great measures of social reform—Unemployment Insurance, Labour Exchanges, Safety in the Coalmines, bringing Old Age Pensions down from seventy to sixty-five years of age, the Widows' and Orphans' Pensions—for which I have been responsible both as a Liberal and a Conservative Minister. I find comfort in the broad harmony of thought which prevails between the modern Tory democracy and the doctrines of the famous Liberal leaders of the past. I am sure that in accord with their speeches and writings, men like Asquith, Morley and Grey, whom I knew so well in my youth, would have regarded the establishment of a Socialist State and the enforcement of the collectivist theory as one of the worst evils that could befall Britain and her slowly-evolved, long-cherished way of life.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

Speech at Huddersfield Town Hall (15 October 1951), quoted in Winston Churchill, Stemming the Tide: Speeches 1951 and 1952 (London: Cassell & Co, 1953), p. 149
Post-war years (1945–1955)

Life, Men, Youth, Age

“American corporations often say human resources are their most important asset. In our national discourse, everyone talks about jobs. Yet as a society we somehow tolerate persistent high unemployment, 30 years of stagnating wages and growing wage inequality, two decades of declining job satisfaction and loss of pension and retirement benefits, and continuous challenges from the consequences of unemployment on family life. If we really valued work and human resources, we would address these problems with the vigor required to solve them.”

Thomas A. Kochan (1947) American academic

Thomas A. Kochan in: "An interview with Thomas A. Kochan," in: Harvard Magazine, Sept. 2012. online at harvardmagazine.com.

Life, Family, Problem, Loss

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

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

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

Success

“After listening to the debate on unemployment I can see a danger that Liberals lose to the Tories their claim to have new and sensible ideas and are left saying "Me too" to a Socialist conventional wisdom which is failing…The salient need of this country—to produce more and much more efficiently—hardly figured on the agenda.”

Jo Grimond (1913–1993) British soldier, politician and academic

The Sunday Times (19 September, 1976).

Wisdom, Idea, Country

“There is little doubt that the observation that quality may depend on price (productivity on wages; default probability on interest rates) has provided a rich mine for economic theorists: A simple modification of the basic assumptions results in a profound alteration of many of the basic conclusions of the standard paradigm. The Law of Supply and Demand has been repealed. The Law of the Single Price has been repealed. The Fundamental Theorem of Welfare Economics has been shown not to be valid.
More than that, the theories that we describe here provide the basis of progress toward a unification of macroeconomics and microeconomics. They pro vide an explanation of unemployment and credit rationing, derived from basic microeconomic principles. It is a theory in which the extensive idleness that periodically confronts society's resources, human and capital, is seen as but the most obvious example of market failures that prevasively and persistently distort the allocation of resources.”

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

"The Causes and Consequences of The Dependence of Quality on Price", Journal of Economic Literature, Vol. 25, No. 1 (Mar., 1987)

Law, Failure, Dependency

“Technological progress — and it is a pity more do not appreciate it — is the one sound approach to increased employment and higher wages. There is no other way. Irrespective of what is being said to the contrary, new industries can be created, present industries can be expanded, unemployment can be eliminated in a practical way”

Alfred P. Sloan (1875–1966) American businessman

Source: Adventures of a White-Collar Man. 1941, p. 10; Published earlier in: Drugs, Oils & Paints, (1939). Vol. 54-55, p. 335

Way

“Well, here we are, the Irish in America. The Irish have been coming to America for years, going back to the great famine when the Irish were on the run from starvation and a British Government that couldn't care less. Right up to today, you know, there are more Irish immigrants here in America today than ever — some illegal, some legal. A lot of them are just running from high unemployment, some run from the Troubles in Northern Ireland, from the hatred of the H Blocks, torture. Others from wild acts of terrorism like we had today in a town called Enniskillen, where eleven people lie dead, and many more injured, on a Sunday Bloody Sunday.”

Bono (1960) Irish rock musician, singer of U2

Statements made before a live performance of Sunday Bloody Sunday, a song first recorded on the U2 album War (1983)
Rattle and Hum (1987)

People, Lie, Dead

“Though he died in 1946, Keynes still dominated economics at Cambridge in the mid-1960s. It wasn't just that all the leading figures among the faculty, Richard Kahn, Joan Robinson, Brian Reddaway, David Champernowne, Nicholas Kaldor, and James Meade, had been his pupils and/or collaborators. It was the tone of the place. The study of economics, theoretical or empirical, was driven by the desire to improve the conduct of economic policy. This did not mean that pure theory was neglected. Indeed, in those years Robinson was fighting a stirring battle in the realms of high theory with Paul Samuelson and Robert Solow from the Massachusetts Institute of Technology. Nor was Cambridge innocent of the cutting edge of econometric technique. Richard Stone, who, following Keynes's suggestions, had created the first modern national income accounts, was still director of the Department of Applied Economics where much of modern econometrics was pioneered. Nonetheless, we were taught that theory and technique should serve the higher cause of rational economic policies, and to use our newly learned econometric expertise to write essays on unemployment, or inflation, or the balance of trade, or some other topic at the top of the current political agenda.”

John Eatwell, Baron Eatwell (1945) British economist

"Citizen Keynes", 1994

Study, Learning, Fight

“Before you cut me off, Raven, the reason I hate you, the reason in my heart of hearts why I hate you, is I did not know any better when I was a little kid. When my dad came home smelling like beer. I thought it was a hard day’s work he was doing. I did not realize he was out at a bar. I did not realize ‘work’ meant ‘unemployment office.’ I did not think it was strange for someone to come home and take an Old Style up into the shower. I did not think it was strange for somebody to pass out. I thought an Old Style, a pack a day, was the norm. Raven, my father is exactly like you. Since day one of Ring of Honor, where fighting spirit is supposed to be revered, things are not supposed to be this way! I’d shake your hand like a normal man, but the thing is, I don’t respect you! I hate you! I hate you for everything you have pissed away! Everything I have scrapped and clawed for that I haven’t even earned yet! That you got handed to you and you flushed down the toilet! For what? For pills? For booze? For alcohol? For women? I’m born of your poison society. So, on the seventeenth of July, I will become a monster to fight the monsters of the world! Your time in Ring of Honor will be done. That is a promise. This is true! This is real! This is straight edge!”

Phil Brooks (1978) American professional wrestler and mixed martial artist

Ring of Honor: WrestleRave '03. June 28th, 2003.
Promo aimed at Raven after a tag team match with Colt Cabana against Raven and Christopher Daniels
Ring of Honor

Women, Hate, Alcohol, World

“Unemployment is the problem of problems which has made our youths naxalites. Educated youth are deprived of all deserving comforts and their growing discontent has given scope for the sppedy growth of naxalism.”

V. V. Giri (1894–1980) Indian politician and 4th president of India

Saleem Shaikh in: Business Environment, 2/E http://books.google.co.in/books?id=sfOH_n1vseUC&pg=PA287, Pearson Education India, 1 September 2010

Youth, Education, Problem

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

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

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

War, Way, Thinking

“Decades of record immigration have produced lower wages and higher unemployment for our citizens, especially for African-American and Latino workers. We are going to have an immigration system that works, but one that works for the American people.”

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

2010s, 2016, July, (21 July 2016)

People

“When we reject unemployment as an economic instrument — as we do — and when we reject also superficial remedies, as socialists must, then we must ask ourselves unflinchingly what is the cause of high unemployment. Quite simply and unequivocally, it is caused by paying ourselves more than the value of what we produce. There are no scapegoats.”

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

Labour Party Annual Conference Report 1976, p. 188.
Speech at the Labour Party Conference, 28 September 1976.
Prime Minister

“.. and Dr. Isaiah Williams, whose body was recovered from a ravine near San Pablo. Inquiries are being hampered by what an Army spokesman termed the obstinate attitude of the local people. “They won’t admit they know their left hands from their right,” he asserted. Here at home Senator Richard Howell (Rep., Col.) today launched a fierce attack on the quote chlorophyll addicts unquote who, he claims, are hamstringing American business, already staggering under the load of high unemployment and recession, by insisting that our manufacturers comply with regulations ignored by foreign competition. In Southern Italy rioting continues in many small towns formerly dependent on fishing. Meantime, dust storms in the Camargue...”

John Brunner book The Sheep Look Up

.
January “AND IT GOES ON”
The Sheep Look Up (1972)

People, Quotes, Home, Business

“The problems of hunger and food, unemployment, a growing and crushing price rise in the commodities needed for one’s day-to-day subsistence have naturally found angry expressions, sometimes violent expression in many parts of the country. Corruption and falling standard in administration and public life have added to their dimension.”

V. V. Giri (1894–1980) Indian politician and 4th president of India

Source: Presidents of India, 1950-2003, P.83

Life, Hunger, Food, Nature

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

Sarah Palin (1964) American politician

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

School, Home, Business, Learning

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

Fritz Sauckel (1894–1946) German general

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

War, World, Country

“Unemployment to a man is the psychological equivalent of rape to a woman.”

Warren Farrell book The Myth of Male Power

Source: The Myth of Male Power (1993), Part II: The Glass Cellars of the disposable sex, p. 172.

“If you start adding it up, our real unemployment rate is 42%.”

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

2015-08-20 Donald Trump Explains All TIME http://time.com/4003734/donald-trump-interview-transcript/. For a discussion of this figure, see "The Real Jobless Rate Is 42 Percent? Donald Trump Has a Point, Sort Of" http://www.nytimes.com/2016/02/11/upshot/the-real-jobless-rate-is-42-percent-donald-trump-has-a-point-sort-of.html?_r=0 by Neil Irwin, The New York Times (10 February 2016). 2010s, 2015

“Microeconomics, including the study of individual choice and of group choice in market and nonmarket processes, has generally been considered a field science as distinct from an experimental science. Hence microeconomics has sometimes been classified as "non-experimental" and closer methodologically to meteorology and astronomy than to physics and experimental psychology (Marschak, 1950, p. 3; Samuelson, 1973, p. 7). But the question of using experimental or nonexperimental techniques is largely a matter of cost, and generally the cost of conducting the most ambitious and informative experiments in astronomy, meteorology, and economics varies from prohibitive down to considerable. The cost of experimenting with different solar system planetary arrangements, different atmospheric conditions, and different national unemployment rates, each under suitable controls, must be regarded as prohibitive.”

Vernon L. Smith (1927) American economist

Source: "Relevance of laboratory experiments to testing resource allocation theory," 1980, p. 345.

Question, Study, Science

“To politicians, solved problems represent a dire threat — of unemployment and poverty. That's why no problem ever tackled by the government has ever been solved. What they want is lots of problems they can promise to solve, so that we'll keep electing them — or letting them keep their jobs in a bureaucracy metastasizing like cancer.”

L. Neil Smith (1946) American writer

"Of Pharaohs and Firearms" http://www.jpfo.org/smith/smith-pharaohs.htm.

Problem

“Make a list of all the environmental and social problems that today afflict us and our poor battered planet. – not just the extinction of species and animals and plants, that fifty years ago was the first signs of impending global disaster, but traffic congestion, oil prices, pressure on the health service, the growth of mega-cities, migration patterns, immigration policies, unemployment, the loss of arable land, desertification, famine, increasingly violent weather, the acidification of the oceans, the collapse of fish stocks, rising sea temperatures, the loss of rain forest. The list goes on and on. But they all share an underlying cause. Every one of these global problems, environmental as well as social becomes more difficult – and ultimately impossible - to solve with ever more people.”

David Attenborough (1926) British broadcaster and naturalist

How Many People Can Live on Planet Earth? (BBC Horizon, 2009)

People, Health, Problem, Fish

“What happens in Syria, for example, there's some thought about this. When you have drought, when people can't grow their crops, they're going to migrate into cities and when people migrate into cities and when they don't have jobs, there's going to be a lot more instability, a lot more unemployment and people will be subject to the types of propaganda that Al Qaeda and ISIS are using right now and so where you have discontent you have instability, that's where problems arise and certainly without a doubt, a climate change will lead to that.”

Bernie Sanders (1941) American politician, senator for Vermont

"Bernie Sanders doubles down on link between climate change and terrorism" http://www.cbsnews.com/videos/bernie-sanders-doubles-down-on-link-between-climate-change-and-terrorism/, CBS News (15 November 2015), when asked how drought connect with ISIS attacks in Paris. 2010s, 2015

People, Problem, Change

“I thank the Foreign Secretary for giving way. I assure him that at least 60 Labour Members voted against the Bill on Second Reading and I am sure that they will vote against the Maastricht treaty again tonight, primarily because it takes away from national Parliaments the power to set economic policy and hands it over to an unelected set of bankers who will impose the economic policies of price stability, deflation and high unemployment throughout the European Community.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1993/may/20/european-communities-amendment-bill in the House of Commons (20 May 1993). 1990s

Way, Communication, Reading

“Sraffa’s criticisms of the concept of capital also amount – at least in principle –to a deadly blow to the foundations of the so-called ‘neo-classical synthesis’. Combining Keynes’ thesis on the possibility of fighting unemployment by adopting adequate fiscal and monetary policies with the marginalist tradition of simultaneous determination of equilibrium quantities and prices as a method to study any economic problem, this approach has in the last few decades come to constitute the dominant doctrine in textbooks the whole world over. It is only thanks to increasing specialisation in the various fields of economics, often invoked as the inevitable response to otherwise insoluble difficulties, that the theoreticians of general equilibrium are able to construct their models without considering the problem of relations with the real world that economists are supposed to be interpreting, and that the macroeconomists can pretend that their ‘one commodity models’ constitute an acceptable tool for analysis. For those who believe that the true task facing economists, hard as it may be, is to seek to interpret the world they live in, Sraffa’s ‘cultural revolution’ still marks out a path for research that may not (as yet) have yielded all it was hoped to, but is certainly worth pursuing.”

Alessandro Roncaglia (1947) Italian economist

Source: Piero Sraffa: His life, thought and cultural heritage (2000), Ch. 1. Piero Sraffa

World, Hope, Problem, Study

“That austerity is a counterproductive economic policy in a situation of economic recession can be seen, rightly, as a “Keynesian critique.” Keynes did argue—and persuasively—that to cut public expenditure when an economy has unused productive capacity as well as unemployment owing to a deficiency of effective demand would tend to have the effect of slowing down the economy further and increasing—rather than decreasing—unemployment. Keynes certainly deserves much credit for making that rather basic point clear even to policymakers, irrespective of their politics, and he also provided what I would call a sketch of a theory of explaining how all this can be nicely captured within a general understanding of economic interdependences between different activities… I am certainly supportive of this Keynesian argument, and also of Paul Krugman’s efforts in cogently developing and propagating this important perspective, and in questioning the policy of massive austerity in Europe.
But I would also argue that the unsuitability of the policy of austerity is only partly due to Keynesian reasons. Where we have to go well beyond Keynes is in asking what public expenditure is for—other than for just strengthening effective demand, no matter what its content. As it happens, European resistance to savage cuts in public services and to indiscriminate austerity is not based only, or primarily, on Keynesian reasoning. The resistance is based also on a constructive point about the importance of public services—a perspective that is of great economic as well as political interest in Europe.”

Amartya Sen (1933) Indian economist

Amartya Sen, "What Happened to Europe?", New Republic (August 2, 2012)
2010s

Understanding, Question, Support, Effort

“Such cultural homosexuality is an alienation more or less forced upon certain groups of Auden’s society by the form of their education and the nature of their social and financial conditions. Where the members of a class and a sex are taught, in a prolonged narcissistic isolation, to hero-worship themselves—class and sex; where—to a different class—unemployment is normal, where one’s pay is inadequate or impossible for more than one; where children are expensive liabilities instead of assets; where women are business competitors; where most social relationships have become as abstract, individualistic, and mobile as the relations of the labor market, homosexuality is a welcome asset to the state, one of the cheapest and least dangerous forms of revolution.”

Randall Jarrell (1914–1965) poet, critic, novelist, essayist

“Changes of Attitude and Rhetoric in Auden’s Poetry”, pp. 127–128
The Third Book of Criticism (1969)

Women, Children, Education, Sex

“The Good Economist Hayek is the thinker who has mind-blowing insights into just why the competitive market system is such a marvelous societal device for coordinating our by now 7.2 billion-wide global division of labor. Few other economists imagined that Lenin’s centrally-planned economy behind the Iron Curtain was doomed to settle at a level of productivity 1/5 that of the capitalist industrial market economies outside. Hayek did so imagine. And Hayek had dazzling insights as to why. Explaining the thought of this Hayek requires not sociology or history of thought but rather appreciation, admiration, and respect for pure genius.The Bad Economist Hayek is the thinker who was certain that Keynes had to be wrong, and that the mass unemployment of the Great Depression had to have in some mysterious way been the fault of some excessively-profligate government entity (or perhaps of those people excessively clever with money–fractional-reserve bankers, and those who claim not the natural increase of flocks but rather the interest on barren gold). Why Hayek could not see with everybody else–including Milton Friedman–that the Great Depression proved that Say’s Law was false in theory, and that aggregate demand needed to be properly and delicately managed in order to make Say’s Law true in practice is largely a mystery. Nearly everyone else did: the Lionel Robbinses and the Arthur Burnses quickly marked their beliefs to market after the Great Depression and figured out how to translate what they thought into acceptable post-World War II Keynesian language. Hayek never did.
My hypothesis is that the explanation is theology: For Hayek, the market could never fail. For Hayek, the market could only be failed. And the only way it could be failed was if its apostles were not pure enough.”

J. Bradford DeLong (1960) American economist

Making Sense of Friedrich A. von Hayek: Focus/The Honest Broker for the Week of August 9, 2014 http://equitablegrowth.org/making-sense-friedrich-von-hayek-focusthe-honest-broker-week-august-9-2014/ (2014)

Money, War, People, World

“A key element in all Keynesian models is a ‘trade-off between inflation and real output: the higher is the inflation rate; the higher is output (or equivalently, the lower is the rate of unemployment).”

Robert Lucas Jr. (1937) American economist

"After Keynesian macroeconomics" 1978

“During the relatively brief period in the late 1960s when economists were pondering the possible obsolescence of business cycles, the scholarly discipline of macroeconomics showed signs of becoming fragmented into speciality areas devoted to components of the then popular large-scale econometric models-for example, consumption, investment, money demand, and the Phillips curve. But more recently the revival of severe real world business cycles, together with the revolutions associated with Milton Friedman's monetarism and Lucas's classical equilibrium models, has brought about a revival of interest in economic analysis that focuses on a few broad aggregates summarizing activity in the economy as a whole-nominal and real income, the inflation rate, and the unemployment rate.”

Robert J. Gordon (1940) American economist

Source: The American Business Cycle, 1986, p. 2

Money, World, Business

“We will cut in half unemployment and the number of foreigners living in Germany.”

Helmut Kohl (1930–2017) former chancellor of West Germany (1982-1990) and then the united Germany (1990-1998)

Wir werden die Arbeitslosigkeit und die Zahl der in Deutschland lebenden Ausländer um die Hälfte reduzieren.
Taz (June 10, 1998), during the 1982 election campaign

“We are now faced with massive unemployment, on a scale certainly at the level of the 1930s and to become greater. The improvement in housing, education and the standard of living has stopped. To all of us, that is a matter of the greatest possible regret…One of our intentions after the 1930s was to ensure that the Conservative Party was never again considered to be the party of unemployment. I ask my hon. Friends to think seriously about that in our present circumstances.”

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

Speech in the House of Commons (27 November 1980) http://hansard.millbanksystems.com/commons/1980/nov/27/industry-and-the-economy Post-Prime Ministerial

Education, Thinking, Housing

“Our country is wallowing in a miasma of political and class conflict, of greed and special interest, with regard to budget deficits, inflation and rising unemployment, the threats of both a bloody war and a devastating recession. How did we get into this mess? Because the press, during the 1980s committed one of the greatest crimes of the 20th century. The media took a dive, caved in, and did not tell the American people the price they would eventually pay for Reaganomics.”

Carl Rowan (1925–2000) American journalist

while accepting the Allen H. Neuharth Award for Excellence in Journalism from the University of South Dakota in 1990.
Quoington Star article entitled "Has President Nixon Gone Crazy?"

War, People, Country

“We are in a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.”

Indra Nooyi (1955) Indian-born, naturalized American, business executive

Top 15 quotes from PepsiCo CEO Indra Nooyi

Box

“The time has come to speak out. Britain is now locked in a vicious spiralling interest rates…The net result of completing the vicious circle is that prices have increased, the rate of inflation has gone up, the money supply has increased, unemployment has gone up, the rate of bankruptcies has increased, the industrial base has been further eroded, the Government's borrowing requirement has increased and as a result there is more pressure to raise interest rates yet again, to be followed inevitably by the same vicious circle. It is this that must be broken.”

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

Speech to the Federation of Conservative Students in Manchester (6 October 1981), quoted in The Times (7 October 1981), p. 6.
Post-Prime Ministerial

Money, Time

“Loss of market begets unemployment. Emphasis has been on short-term profit, to the undernourishment of plans that might generate new product and service that would keep the company alive and provide jobs and more jobs. It is no longer socially acceptable performance to lose market and to dump hourly workers on to the heap of unemployed.
The basic sickness of American industry and resulting unemployment is failure of top management to manage. Loss of market, and unemployment, are not foreordained. They are not inevitable. They are not acceptable. The day is past when people in management need not know anything about management by which I mean to include problems of production, supervision, training.”

W. Edwards Deming (1900–1993) American professor, author, and consultant

Source: Quality, Productivity and Competitive Position, (1982), p. i; Preface

People, Failure, Problem, Loss

“It seems to me that the German people can - pointedly - tolerate 5 percent price increase better than 5 percent unemployment.”

Helmut Schmidt (1918–2015) Chancellor of West Germany 1974-1982

Interview with Helmut Schmidt on the 27. July 1972 in Bonn, partly printed in the Süddeutsche Zeitung of 28. July 1972 (nr. 171), p. 8

People

“Of all the aspects of social misery nothing is so heartbreaking as unemployment …”

Jane Addams (1860–1935) pioneer settlement social worker

Source: Twenty Years at Hull-House (1910), Ch. 10

Heartbreaking

“Overconsumption by US citizens, US buy-outs of foreign companies and dollars the Pentagon spends abroad all end up in foreign central banks. These governments face a hard choice: either recycle the dollars back to America by buying US Treasury bonds or let the “free market” force up their currencies relative to the dollar – thereby pricing their exports out of world markets, creating domestic unemployment and business failures. US-style free markets hook them into a system that forces them to accept unlimited dollars. Now they want out. … The US is the world’s largest debtor, yet has avoided the pain of “structural adjustments” imposed on other debtor nations. US interest rate and tax reductions in the face of exploding trade and budget deficits are seen as the height of hypocrisy in view of the austerity programmes that Washington has forced on other countries via the International Monetary Fund and other vehicles.”

Michael Hudson (economist) (1939) American economist

Washington cannot call all the shots http://michael-hudson.com/2009/06/washington-cannot-call-all-the-shots/ (June 14, 2009) Michael-Hudson.com, 1998-

Pain, World, Failure, Business

“Stock markets are never better performing than during a hyperinflation. Interest rates are rock bottom, but only through artificial means. Gross Private Domestic Investment is still falling off a cliff, having already completely erased ten years of investment from the record of history. Here is a fundamental factor that suggests that terrible things are still to come our way. And I guess I'll have to put this in italics because the point seems to be lost in the shuffle: unemployment is still rising, even soaring straight to double digits!
The sociology of this intrigues me to no end. Unemployment is one of the human elements that journalists are supposed to glom onto. Oh, look at poor Bob and Jane and how they lost their jobs and have nowhere to go, etc., etc. Talk about human interest! Where are the weepy stories about the plight of people wandering around with no work? Instead, we get happy clappy stories about how things are not nearly as bad as they might be had the great and powerful Obama of Oz not appeared to save the day. There is also the remarkable spin that things are getting worse, yes, but at a slower pace than before – an observation that might be most commonly heard in Hell.”

Lew Rockwell (1944) American libertarian author and editor

6 August 2009 "Obama and the Economy" http://www.lewrockwell.com/rockwell/obama-economy125.html 2000s

Happiness, People, Way, History

“I urge everybody to stay inside the Labour Party and fight to ensure that nothing like this ever happens again. There must now be a serious question over whether Frank can hope to beat Steven Norris on May 4 when Londoners will widely perceive the Labour nomination to have been stolen. The lesson of Wales is that our voters will not be taken for granted. A Labour campaign that was dead in the water from day one will limp on to polling day and never allow us to get on to the real issues that matter to Londoners, such as transport, unemployment and crime. In the interests of uniting the Labour party, I hope Frank Dobson will consider his position over the next few days. He must decide whether he is willing to accept this tainted result or stand down in the interests of Labour and London. Over the last six months Londoners have had to listen to politicians. Now it is time for politicians to listen to Londoners, and I shall be saying nothing further until I have had a chance to listen to Londoners.”

Ken Livingstone (1945) Mayor of London between 2000 and 2008

Statement following the London Labour Party ballot for a Mayoral candidate, in which Livingstone was defeated by Frank Dobson due to the electoral system chosen by the party, as quoted in "Winner is challenged to refuse `tainted' victory" in The Guardian (21 February 2000), p. 2.

Hope, Question, Water, Chance

“"We must have a distinct vision of what employment and unemployment are. A person who is training or educating themselves is working for their country. That is what we have discovered in this recession, that training, education and innovation are fundamental.", Oslo Forum, September 2010.”

José Luis Rodríguez Zapatero (1960) Former Prime Minister of Spain

As President, 2008

Education, Personality, Training, Country

“I leave you with a complaint. Now, the country is in a terrible state, and you've blamed it on a number of things: Unemployment rate, the value of the pound and all that… well, it's because the national anthem is boring.”

Billy Connolly (1942) British comedian

An Audience With Billy - 1985

Country

“Without question, the causes, which produce on the one hand long hours and overemployment, result on the other hand in short periods of work, underemployment, or unemployment.”

Robert Hunter (author) (1874–1942) American sociologist, author, golf course architect

Source: Poverty (1912), p. 28

Question

“England totally disarmed and an easy prey to hostile forces! Can you think of anything more likely to excite cupidity and hostile intention? We should sink to the level of a fifth rate Power, our Colonies would be stripped from us, our commerce would decline, famine and unemployment would stalk the land. … I share your longing for peace. God forbid that it should be again disturbed! The constant and undivided effort of the Government is for its preservation. But I have yet to learn that the cause of peace can be served by rendering our country impotent.”

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

Letter to Arthur Ponsonby (16 December 1927); published in Semi-detached Idealists: The British Peace Movement and International Relations, 1854-1945 (2000) by Martin Ceadel, p. 271
1927

God, Hostility, Peace, Thinking

“In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also, unfortunately, when there is just enough.”

John Kenneth Galbraith book The New Industrial State

Source: The New Industrial State (1967), Chapter XXII, Section 4, p. 255

“My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.”

Robert C. Merton (1944) American economist

Robert C. Merton, " Robert C. Merton - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1997/merton-bio.html," at Nobelprize.org, 1997

Mathematics, Business, Decision, Parting

“Class, conservatives insist, is not really about money or birth or even occupation. It is primarily a matter of authenticity, that most valuable cultural commodity. Class is about what one drives and where one shops and how one prays, and only secondarily about the work one does or the income one makes. What makes one a member of the noble proletariat is not work per se, but unpretentiousness, humility, and the rest of the qualities that our punditry claims to spy in the red states that voted for George W. Bush. The nation’s producers don’t care about unemployment or a dead-end life or a boss who makes five hundred times as much as they do. No. In red land both workers and their bosses are supposed to be united in disgust with those affected college boys at the next table, prattling on about French cheese and villas in Tuscany and the big ideas for running things that they read in books.This sounds like a complicated maneuver, but it should be quite familiar after all these years. We see it in its most ordinary, run-of-the-mill variety every time we hear a conservative pundit or politician deplore "class warfare"”

Thomas Frank book What's the Matter with Kansas?

meaning any talk about the failures of free-market capitalism — and then, seconds later, hear them rail against the "media elite" or the haughty, Volvo driving "eastern establishment."
Part II: The Fury Which Passeth All Understanding, Chapter Six: Persecuted, Powerless, and Blind (pp. 113-114).
What's the Matter with Kansas? (2004)

Life, Money, Boy, Idea

“Inevitably, people tell me that poor folks are lazy or unintelligent, that they are somehow deserving of their poverty. However, if you begin to look at the sociological literature on poverty, a more complex picture emerges. Poverty and unemployment are part and parcel of our economic order. Without them, capitalism would cease to function effectively, and in order to continue to function, the system itself must produce poverty and an army of underemployed or unemployed people.”

Bob Torres American podcaster

Source: Making a Killing: The Political Economy of Animal Rights (2007), p. 7

People, Literature, Parting

“The alternative to getting help from the IMF would be economic policies so savage I think they would produce riots in the streets, an immediate fall in living standards and unemployment of three million.”

Denis Healey (1917–2015) British Labour Party politician and Life peer

On ITN's News at Ten (29 September 1976).
1970s

Thinking, Help