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Quote by Philippe Aghion

“It may seem paradoxical that innovation should increase both the share of income of the richest 1 percent (top income inequality) and social mobility. Yet the comparison among different American states suggests that this is indeed the case. For example, if we compare California, currently among the most innovative states in the United States, with Alabama, which is among the least innovative, we find that the share of the state’s total income that goes to the top 1 percent is significantly higher in California than in Alabama. At the same time, social mobility is substantially higher in California than in Alabama.”

Quote by Philippe Aghion

Book:The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations
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The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations

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Philippe Aghion

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“The United States incarnates a more cutthroat form of capitalism, while the Scandinavian countries, and to a lesser extent Germany, are the representatives of a more cuddly capitalism. According to this view, insofar as innovation at the technological frontier relies on strong monetary incentives, the countries that aim for frontier innovation should forgo the goals of insurance and equality: in other words, they should renounce “cuddly capitalism” in favor of a “cutthroat” form of capitalism. As for the countries who choose cuddly capitalism, they would have no alternative but growth by imitation of technologies invented by the frontier countries. The “cuddly” countries provide their citizens with greater equality and insurance, but their growth depends ultimately on the growth of the “cutthroat” countries, which, one might say, work for the benefit of the rest of the world.”

CapitalismInnovationWelfare StateEconomic Inequality
Book:The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations
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“Inequality is much cited for its baleful impacts. In this book, we see inequality as a consequence as much as a cause; if the rich are allowed to enrich themselves through unfair processes that hold down wages, and raise prices, then inequality will certainly rise. But not everyone gets rich that way. Some people invent new tools, drugs, or gadgets, or new ways of doing things, and benefit many, not just themselves. They profit from improving and extending other people’s lives. It is good for great innovators to get rich. Making is not the same as taking. It is not inequality itself that is unfair but rather the process that generates it.”

InnovationSocial JusticeEconomic InequalityPolitical EconomyRent Seeking
Book:Deaths of Despair and the Future of Capitalism
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“David saw the AI Revolution and online stock trading as potential solutions to the economic challenges faced by Black women and Black men. He genuinely believed that the reparations sought by Black people for the injustices of slavery and other crimes against their humanity are waiting patiently to be claimed in one place: Wall Street.”

InvestingFinancial FreedomBlack AuthorsInvesting QuotesReparationsStock MarketFinance QuotesEconomic InequalityWall StreetAi Revolution
Author:David L. Wadley
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“So the smells I associate with the Elders are freshly cut garden flower arrangements- roses, lilac and endless sweet peas and the fougère hints of random greenery lavishly added to the vases, in the Constance Spry style. Also, modest shop-bought flowers, particularly daffodils, tulips and freesias, which are such an economical way to brighten a room for that thrifty generation. My scents for the elders are: Lavender by Yardley Blue Grass by Elizabeth Arden Rose in Wonderland by Atkinsons Femme by Rochas Ostara by Penhaligon's Tweed by Lenthéric (A mention of this elicited a big response at the event; it seemed all the women had worn it at some time and had happy associations with it. I do wish they would re-release it in the original tweed-fabric effect box.) The men in this age group are the last of the true British gentlemen, so especially for them: Old Spice St Johns Bay Rum by St Johns Fragrance Company Royal Mayfair by Creed”

EldersSmellsPerfumesFloral20s30s50s40s
Book:The Scent of You
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“Anger has great strength, but no brains. Greed has many hands, but no heart. Fear has many titles, but no honor. Hatred has many forms, but no soul. Desire has great strength, but no brains. Agony has many hands, but no heart. Shame has many titles, but no honor. Ego has many forms, but no soul. Envy has great strength, but no brains. Malice has many hands, but no heart. Lust has many titles, but no honor. Evil has many forms, but no soul.”

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Author:Matshona Dhliwayo
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“The ignorant learn from none, the simple learn from some, the intelligent learn from many, but enlightened learn from all. The arrogant learn from none, the gracious learn from some, the patient learn from many, but the humble learn from all. The disinterested learn from none, the curious learn from some, the keen learn from many, but the disciplined learn from all.”

Wisdom QuotesMatshona Dhliwayo QuotesWise QuotesGuru QuotesSolomonology QuotesAfrican Philosophy QuotesAfrican Philosopher QuotesAfrican QuotesEducation QuotationsLearning Quotations
Author:Matshona Dhliwayo
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“It's a nice big fat philosophical question, about: how do you get through? Sometimes you don't survive whole, you just survive in part. But the grandeur of life is that attempt. It's not about that solution. It is about being as fearless as one can, and behaving as beautifully as one can, under completely impossible circumstances. It's that, that makes it elegant. Good is just more interesting, more complex, more demanding. Evil is silly, it may be horrible, but at the same time it's not a compelling idea. It's predictable. It needs a tuxedo, it needs a headline, it needs blood, it needs fingernails. It needs all that costume in order to get anybody's attention. But the opposite, which is survival, blossoming, endurance, those things are just more compelling intellectually if not spiritually, and they certainly are spiritually. This is a more fascinating job. We are already born, we are going to die. So you have to do something interesting that you respect in between.”

ExistentialismAfrican Philosophy Quotes
Author:Toni Morrison
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“I am injustice,” said tyranny. “I am lawlessness,” said corruption. “I am inequality,” said bigotry. “I am intolerance,” said racism. “I am destruction,” said immorality. “I am independence,” said freedom. “I am fairness,” said justice. “I am humanity,” said compassion. “I am tolerance,” said understanding. “I am restoration,” said goodness.”

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Author:Matshona Dhliwayo
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