“The farmer and the farm, like "the environment," are looked upon, for example, as means to offset trade deficits. The farm is a place where we can externalize costs. The cost of pesticides to the farmer and the cost of the pesticides to the soil and groundwater are regarded similarly by the public: "a serious problem that something ought to be done about." But the problem is more fundamental than this glib statement would indicate, for soil pollution is an expense of production. So are pesticides and nitrates in our farm wells. So is the loss of farmers from the land.” WellsMeanDoneProblemLossEnvironmentLandExampleSeriousOughtCostFundamentalsTradeProductionsStatementsSoilExpensesFarmsFarmersPollutionDeficitPesticidesGroundwater Author:Wes Jackson
“Someone in the society has to deal with the reality that there are finite resources and we're making trade-offs, and be explicit about that. When the car companies were found to have a memo that actually said, "This safety feature costs X and saved Y lives," the very existence of that memo was considered damning. Or when you made it reimbursable for a doctor to ask, "Do you want heroic care at the end-of-life," that was a death panel. No, it wasn't a death panel! It was asking somebody to make a decision.” WantMadeSaidEndsRealityCareAsksFoundDecisionDealsExistenceCompanyCarCostResourcesDoctorsAskingSafetyTradeSavedMade ItFeaturesHeroicFiniteEnd Of LifeExplicitTrade OffsMemos Author:Bill Gates
“All life produces waste. The act of living produces costs, hazards and disposal questions, and so the (Environment) Ministry has found itself in the center of all life, mitigating, guiding and policing the detritus of the average person along with investigating the infractions of the greedy and short-sighted, the ones who wish to make quick profits and trade on others' lives for it.” PersonsFoundWishEnvironmentProduceCostWasteTradeAverageProfitMinistryGreedyHazardsAverage PersonInvestigatingShort Sighted Book:The Windup Girl Source: The Windup Girl
“In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.” SocialCostAdvantageTradePatternsAdjustmentComparative Advantage Book:The Political Economy of International Relations Source: The Political Economy of International Relations
“So the only environment the artist needs is whatever peace, whatever solitude, and whatever pleasure he can get at not too high a cost. All the wrong environment will do is run his blood pressure up; he will spend more time being frustrated or outraged. My own experience has been that the tools I need for my trade are paper, tobacco, food, and a little whiskey.” NeedsLittlesHas BeensRunningArtistMy OwnPleasureEnvironmentBloodCostSolitudePaperToolsPressureTradeMore TimeFrustratedTobaccoWhiskeyOutragedBlood PressureBeing Frustrated Author:William Faulkner
“For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.” WantAbleEconomyPolicyCostAbsolutesIndependentTradeUnionsProfitZoneCurrencyReapMonetaryTransactionsEuroCentral BanksMonetary PolicyFrankfurt Author:Dalia Grybauskaite
“It wouldn't cost too much to change the rules of trade so that poor countries can work their way out of poverty. But the world's leaders won't act unless they hear enough people telling them. And every day they fail to act, thousands of people die because they can't afford the basics of survival.” PeopleWorldWayCountryEnoughDiesPoorLeaderPovertyToo MuchFailingCostSurvivalTradeBasicsEnding PovertyPoor Countries Author:Edward de Bono
“J.P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The friend asked, 'What should I do about my stocks?' Morgan replied, 'Sell down to your sleeping point' Every investor must decide the trade-off he or she is willing to make between eating well and sleeping well. High investment rewards can only be achieved at the cost of substantial risk-taking. So what is your sleeping point? Finding the answer to this question is one of the most important investment steps you must take.” ShouldWellsImportantNightSleepAnswersStepsRiskWillingCostFindingsEatingTradeSellsInvestmentRewardsWorriedInvestorsShould IRisk-takingTrade OffsEating Well Author:Burton Malkiel
“One of the most basic and pervasive social processes is the sorting and labeling of things, activities, and people... Sorting and labeling processes involve a trade-off of costs and benefits. In general, the more finely the sorting is done, the greater the benefits - and the costs... Sorting and labeling, whether of people or of things, is a sorting and labeling of probabilities rather than of certainties.” PeopleDoneSocialProcessGreaterCostActivityBenefitsTradeCertaintyProbabilityLabelingSortingTrade Offs Author:Thomas Sowell
“The TPP is another corporate-backed agreement that is the latest in a series of trade policies which have cost us millions of decent-paying jobs, pushed down wages for American workers and led to the decline of our middle class. We want American companies to create decent-paying jobs in America, not just low-wage countries like Vietnam, Malaysia or China. The TPP must be defeated.” WantCountryJobsAmericaCompanyClassMillionsMiddlePolicyCostLowsTradeSeriesWorkersChinaCorporateDecentMiddle ClassAgreementVietnamDeclineDefeatedWagesMalaysiaAmerican WorkersJobs In America Author:Bernie Sanders
“My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, "Let's digitize it and have one vault." Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before.” GivingSaidFatherCostTradeSettlingGrandfatherRunnersCertificatesVaultsStockbrokersFathers And Grandfathers Author:Jamie Dimon
“We're going to build a wall and Mexico is going to pay. And the reason they're going to pay and the way they're going to pay, Bob, is this. We have a trade deficit now with Mexico of $58 billion a year. The wall is going to cost $10 billion a year. That's what it's going to cost. It's going to be a powerful wall. It's going to cost $10 billion.” WayYearsReasonPowerfulPayWallCostTradeBillionsMexicoBobDeficit Author:Donald Trump
“NAFTA, supported by the Secretary cost, us 800,000 jobs nationwide, tens of thousands of jobs in the Midwest. Permanent normal trade relations with China cost us millions of jobs. Look, I was on a picket line in early 1990's against NFATA because you didn't need a PhD in economics to understand that American workers should not be forced to compete against people in Mexico making 25 cents an hour.” PeopleNeedsShouldLooksJobsHoursLinesMillionsCostNormalEconomicsRelationTradeWorkersChinaPermanentMexicoCentsSecretaryMidwestAmerican WorkersPhdsNafta Author:Bernie Sanders
“People can buy the kind of things they consider as normal and take for granted because of globalization and trade and use of supply chains and the reduction of the cost base of the manufacturing of some products.” PeopleKindUseProductsCostNormalTradeChainsGrantedGlobalizationManufacturingReductionSupply Chain Author:Christine Lagarde
“The Republican Party cannot be anti-trade, anti-immigrant, not out there practicing the politics of people, you know, the issues surrounding drug addiction and mental illness and the cost of prescription drugs and healthcare and student debt and all of these things are very personal to people now.” PeopleKnowsPartyIssuesStudentsRepublicanCostDrugTradeAddictionIllnessDebtMental IllnessImmigrantsHealthcareRepublican PartyPrescriptionsDrug AddictionDrug AddictPrescription Drugs Author:John Kasich
“When you look at a company like Amazon, one of the reasons that Amazon is one of the most powerful companies in the world is because we want to buy cheap stuff. If Donald Trump were to change trade laws, we couldn't buy the cheap stuff or in our Wal-Marts, they would cost a whole lot more.” IfsWorldWantLooksReasonWholeLawStuffPowerfulCompanyTrumpCostTradeMost PowerfulAmazon Author:Stephanie Ruhle
“You have the refugee crisis triggered by Syria. That's got a lot of costs associated with it. Domestically, budgets are incredibly tight because the economy's not generating the growth that makes for easy trade-offs.” EasyGrowthEconomyCostCrisisTradeBudgetsSyriaRefugeeRefugee CrisisTrade Offs Author:Bill Gates
“Thirty-five states have Canada as their largest export market. Let's say we get into a trade war with the United States - hopefully not, but let's say. Many states in the union are going to have trouble and more costs getting their stuff up to Canada. If we make the border a little thicker in terms of tariffs, and hit back, that will start to impact the states, in particular large business interests that are in Canada. And that starts to put indirect pressure on the White House.” IfsLittlesWarStatesHouseStuffTermInterestWhiteUnitedUnited StatesFiveTroubleParticularCostPressureTradeImpactUnionsHopefullyBordersThirtyCanadaWhite HouseIndirectTariffsHopefully Not Author:Michael Kergin
“With the Health Impact Fund, the innovation is paid for separately, through publicly funded health impact rewards, and the product is sold at the cost of production to all. Here, the cruel injustice of preventing the poor from buying at cost - evidenced by today's suppression of the trade in generic versions of patented medicines - would no longer be needed.” TodayPoorProductsNeededCostPaidInnovationTradeImpactMedicineRewardsInjusticeProductionsVersionsBuyingFundPreventingSuppressionGeneric Author:Thomas Pogge
“I talked to a lot of employers who just are, are fearful of what's coming next out of Washington. It's all the spending, it's all the debt. It's their national energy tax, they want to call it cap and trade - more mandates, higher costs, more taxes. Their healthcare bill - more mandates, higher costs, higher taxes.” WantNextEnergyHigherCostTaxesTradeBillsDebtSpendingFearfulHealthcareEmployersCapsMandates Author:John Boehner