Quotessence
Home / Quotes / Quote by Norm Coleman

Quote by Norm Coleman

“It is intellectually dishonest to look backwards with all the facts and judge the decisions that were made with almost none of the facts, or the facts that existed hidden in the normal cloud of endless speculation of what might happen.”

Quote by Norm Coleman

Create image

Author

Norm Coleman
Norm Coleman

Norm Coleman is a former United States Senator from Minnesota, born on August 17, 1949. He has a rich political background and served as a U.S. Senator, representing the state of Minnesota in the federal government and making contributions in various fields. more

You May Also Like

“We are developing in the United States a huge underclass of unwanted people, many of them the descendants of the exploitation of the South American and Latin American countries by American piratical capitalism. Not all capitalism is piratical, but some of it certainly is. And we have a fantastic gap beginning to exist between rich and poor.”

PeopleCountryStatesPoorUnitedUnited StatesRichHugeCapitalismSouthFantasticDevelopingLatinGapsExploitationRich And PoorLatin AmericaDescendantsUnwantedLatin American
Author:Benedict Groeschel
Create image

“Technological society leads to increasing numbers of people who cannot adapt to the inhuman rhythm of modern life with its emphasis on specialization. A class of people is growing up who are unexploitable because they are not worth employing even for the minimum wage. Technological progress makes whole categories of people useless without making it possible to support them with the wealth produced by the progress.”

PeopleWholeWealthNumbersClassSupportGrowing UpGrowingProgressModernCapitalismRhythmUselessCategoriesMinimumTechnologicalEmphasisModern LifeMinimum WageInhumanEmployingSpecializationTechnological Progress
Author:Jacques Ellul
Create image

“Then came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled.”

NeedsMindSaidStillsDoneEyeLeftInterestSimpleKnownPrinciplesCreationDiscoveryCapitalismOriginalsCreditElsewhereHer EyesBeing DoneDepositsAmsterdamBorrowers
Author:John Kenneth Galbraith
Create image

“A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment.”

GivingLittlesRealInterestWealthCompanyTerribleCapitalismTasksInvestmentFinancialPursuitIncomeSavingExpensiveEnterpriseInvestorsOwnershipSignalsSavingsDividendsOptimalFinancial SystemReceiptsAllocation
Author:Doug Henwood
Create image

“No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. Otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. Only heavy unemployment will then temper this upward thrust. Not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.”

WayGivingDoeChoicesWishStruggleEconomyDemocracyModernPoliticianCapitalismPraiseUnionsHeavyIncomeEmploymentCorporationsTemperStableConsumptionUnemploymentInflationThrustFacilitateCombining
Author:John Kenneth Galbraith
Create image

“Growth is the mantra of our society because the economy can't remain healthy without growth.Impregnable monopolies aside (and these are few), profits are both the hallmark of capitalism and its Achilles heel, for no business can permanently maintain its prices much above its costs. There is only one way in which profits can be perpetuated; a business-or an entire economy-must grow.”

WayGrowsGrowthEconomyHealthyCostCapitalismProfitOne WayOur SocietyHeelsMonopolyMantrasHallmarkAchillesAchilles Heel
Author:Robert Heilbroner
Create image