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Jim Stanford

Jim Stanford Quotes

Economist

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“With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.”

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Book:Economics for everyone: a short guide to the economics of capitalism
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“Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.”

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Book:Economics for everyone: a short guide to the economics of capitalism
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“Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ... In developed capitalist economies, private consumption spending accounts for half or more of GDP.”

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Book:Economics for everyone: a short guide to the economics of capitalism
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“One of the glaring failures of capitalism is the continuing widespread existence of poverty - often extreme poverty. Even in the advanced economies, many millions of people endure terrible economic and social deprivation, despite the incredible wealth all around them.”

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Book:Economics for everyone: a short guide to the economics of capitalism
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“The total dividend income declared in 1995 by the bottom 9.7 million Canadian tax-filers (47% of all those submitting tax returns) was $310 million. The estimated dividend income received by the Thomson family in 1995 from its 72% ownership share of the Thomson Corporation and its 22% ownership share of the Hudson's Bay Company was $310 million.”

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Author:Jim Stanford
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“Growth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment.”

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Book:Economics for everyone: a short guide to the economics of capitalism
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