Quotessence
Home / Quotes / Quote by Andrew Sheng

Quote by Andrew Sheng

“Why should a financial engineer be paid four, four times... to a hundred times more than the, uh... real engineer? A real engineer build bridges, a financial engineer build, build dreams. And when those dream turn out to be nightmares, other people pay for it.”

Quote by Andrew Sheng

Create image

Author

Andrew Sheng
Andrew Sheng

Andrew Sheng, born in 1946, is a prominent scholar and advisor in the field of finance. His research covers macroeconomics, financial stability, and global financial governance. Mr. Sheng has held senior positions in several international financial institutions and has been instrumental in promoting financial reform and openness globally. more

You May Also Like

“The timing & characteristics of state intervention affect not only organizational tactics and strategies, but the content and definition of interest itself... Some scholars have directly stressed that state interventions create corporatist forms... the formation, let alone the political capabilities, of such purely socioeconomic phenomena as interest groups and classes depends in significant measure on the structures and activities of the very states the social actors, in turn, seek to influence.”

StatesPhilosophyFormPoliticalTurnsActorsSocialInterestClassGroupsInfluenceDependsActivityEconomicsStrategyStructureDefinitionsSignificantCharacteristicsCapabilityScholarTimingTacticsInterventionStressedFormationOrganizationalInterest GroupsTactics And Strategy
Author:Theda Skocpol
Create image

“The chief arguments that are urged against an established religion, may be used with equal force against an established charity. The dissenter submits, that no party has a right to compel him to contribute to the support of doctrines, which do not meet his approbation. The rate-payer may as reasonably argue, that no one is justified in forcing him to subscribe towards the maintenance of persons, whom he does not consider deserving of relief.”

MayPersonsDoePhilosophyPoliticalUsedForcePartySupportEqualEconomicsArgumentCharityRateArguingDoctrineChiefsReliefSubmitJustifiedDeservingMaintenance
Book:The Proper Sphere of Government: a Reprint of a Series of Letters, Originally Published in
Create image

“Why, when the economist gives advice to his society, is he so often cooly ignored? He never ceases to preach free trade, and protectionism is growing in the United States. He deplores the perverse effects of minimum wage laws, and the legal minimum is regularly raised each 3 or 5 years. He brands usury laws as a medieval superstition, but no state hurries to repeal its law.”

GivingYearsStatesPhilosophyLawPoliticalUnitedUnited StatesGrowingAdviceEffectsEconomicsTradeRaisedCeaseBrandsSuperstitionsMinimumIgnoredEconomistMedievalMinimum WageFree TradeUsuryProtectionism
Author:George Stigler
Create image

“The real economic cleavage is not... between employers and employed, but between all who do constructive work, from scientist to laborer, on the one hand, and all whose main interest is the preservation of existing proprietary rights upon the other, irrespective of whether they contribute to constructive work or not.”

RealPhilosophyHandsPoliticalInterestRightsEconomicEconomicsScientistPreservationEmployedEmployersConstructiveLaborersCleavage
Book:THE ACQUISITIVE SOCIETY
Create image

“Government should be good for the liberty of the governed, and that is when it governs to the least possible degree. It should be good for the wealth of the nation, and that is when it acts as little as possible upon the labor that produces it and when it consumes as little as possible. It should be good for the public security, and that is when it protects as much as possible, provided that the protection does not cost more than it brings in.... It is in losing their powers of action that governments improve. Each time that the governed gain space there is progress.”

ShouldLittlesDoePhilosophyGovernmentActionPoliticalNationsWealthSpaceLibertyProgressSecurityProduceCostProtectDegreesLosingGainsEconomicsLaborProtectionBe Good
Author:Augustin Thierry
Create image