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Quote by Jim Stanford

“We know that investment causes growth. But it is also true that growth causes investment.”

Quote by Jim Stanford

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

Work

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

This book provides a clear and accessible introduction to the fundamental aspects of capitalism, covering topics such as market dynamics, supply and demand, and the role of government in economic policy. more

Author

Jim Stanford is an economist born on March 3, 1961. He has made significant contributions to the field of economics, particularly in labor economics and macroeconomic policy. more

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“This relationship is the foundation for the argument, made by some trade unionists and labour advocates, that high wages can actually be "good for business". The precedent set by Henry Ford in 1914, who offered workers $5.00 per day (a very high wage at the time) so they could afford to buy the same cars they made, is often invoked.”

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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

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

“Try this: say the words "global, global, global" aloud several times, as fast as you can. You'll find yourself sounding like a turkey ("gobble, gobble, gobble").”

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“The problem is not scarcity; the problem is power.”

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

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

“The only factor that poses a genuine challenge to the current order is the willingness of human beings to reject the injustice and irrationality of this economy, and stand up for something better. Capitalism will not fall-rather, it must be pushed.”

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“Dig your well before you're thirsty.”

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“It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.”

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Book:Crash Proof 2.0: How to Profit From the Economic Collapse

Source: Crash Proof 2.0: How to Profit From the Economic Collapse

“Mutual funds are an overrated investment heavily promoted by Wall Street.”

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Book:Crash Proof 2.0: How to Profit From the Economic Collapse

Source: Crash Proof 2.0: How to Profit From the Economic Collapse

“There are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.”

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“When private industry makes a mistake, it gets corrected and goes away. As governments make mistakes, it gets bigger, bigger and bigger and they make more, more and more because as they run out of money, they just ask for more and so they get rewarded for making mistakes. In the meantime that is exactly what we are doing by subsidizing companies which are failing, we have a reverse Darwinism, we've got survival of the unfittest, the companies and people that have made terrible mistakes are being rewarded and other people are being punished and being taxed.”

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