“Not only subjective poverty is never overcome by growth, but absolute poverty is increased by it. ... Absolute misery grows while wealth increases.” GrowsGrowthWealthPovertyEconomicsOvercomingIncreaseAbsolutesMiserySubjective Book:The Second Crisis of Economic Theory: And Other Selected Papers from the American Economic Meeting, December 27-29, 1971 Source: The Second Crisis of Economic Theory: And Other Selected Papers from the American Economic Meeting, December 27-29, 1971
“Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.” NeedsShouldProblemGrowthWealthPayAttentionKnownPovertyCryCapitalismEconomicsShould HaveUniversalPraiseRaisedBottomSolveDisappearEmploymentLiftsPay AttentionBotherEconomistImpressiveReducingShould Have KnownShould Have Known BetterReducing Poverty Book:Contributions to Modern Economics Source: Contributions to Modern Economics
“It's a terrible thing to be a worker exploited in the capitalist system. The only worse thing is to be a worker unable to find anyone to exploit you.” GrowthEconomicTerribleWorkersCapitalistExploitsTerrible ThingsEconomic Growth Author:Joan Robinson
