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Economic Quotes

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Economic Quotes

“The notion that a society could be regulated entirely by market forces is a utopian fantasy: an impossible dream generated by imagining what the world would be like if everyone's behavior was utterly consistent with some abstract moral ideal-in this case, economic theories that assume all human action is based on calculating, systematic, (but scrupulously law-abiding), greed.”

“I think that the environmental movement is wisely moving away from a largely emotion-based argument for the spiritual or intrinsic value of Nature with a capital "N" and evolving toward a very hard-nosed case for the economic value of natural capital, ecosystem services, biodiversity, etc.”

“The "environmental movement" is becoming an economic movement, is joining the social justice movement, is becoming a sustainability movement. It's leaving behind the "People's Needs versus Nature's Needs" conflict in favor of making the case for environmental health as the essential underpinning of prosperous and stable human civilization.”

“It's important that we recognize how extreme the Republicans are in almost every case and how against our self-interest it is to vote for them whether or not we are disappointed with the current crew. At least they believe in the Constitution. At least they have an idea of economic justice. The Republicans are devoted to creating more rich folks.”

“There is an unbroken chain of opposition to the introduction of economic freedom and to the capitalist autonomy of the economic sphere... In every case the opposition could only be overcome - peacefully or by force - because of the promise of capitalism to establish equality... That this promise was an illusion we all know.”

“Under fascism, citizens retain the responsibilities of owning property, without freedom to act and without any of the advantages of ownership. Under socialism, government officials acquire all the advantages of ownership, without any of the responsibilities, since they do not hold title to the property, but merely the right to use it -- at least until the next purge. In either case, the government officials hold the economic, political and legal power of life or death over the citizens.”

“The raw fact is that every successful example of economic development this past century – every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living – has taken place via globalization, that is, by producing for the world market rather than trying for self-sufficiency.”

“In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people: in our case, with the President and the Congress. If these two follow economic policies inimical to the general welfare, they are accountable to the people for their actions on election day. With Federal Reserve independence, however, a body of men exist who control one of the most powerful levers moving the economy and who are responsible to no one.”

“It requires something more than personal experience to gain a philosophy or point of view from any specific event. It is the quality of our response to the event and our capacity to enter into the lives of others that help us to make their lives and experiences our own. In my own case my convictions have derived and developed from events in the lives of others as well as from my own experience. What I have seen meted out to others by authority and repression, economic and political, transcends anything I myself may have endured.”

“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,--if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”

“If in the earlier part of the century, middle-class children suffered from overattentive mothers, from being "mother's only accomplishment," today's children may suffer from an underestimation of their needs. Our idea of what a child needs in each case reflects what parents need. The child's needs are thus a cultural football in an economic and marital game.”

“Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.”

“Throughout the twentieth century and into the beginning of the twenty-first, the United States repeatedly used its military power, and that of its clandestine services, to overthrow governments that refused to protect American interests. Each time, it cloaked its intervention in the rhetoric of national security and liberation. In most cases, however, it acted mainly for economic reasons-specifically to establish, promote and defend the right of Americans to do business around the world without interference.”

“The larger the government, the more our livings standards are reduced. We are fortunate as a civilization that the progress of free enterprise generally outpaces the regress of government growth, for, if that were not the case, we would be poorer each year - not just in relative terms, but absolutely poorer too. The market is smart and the government is dumb, and to these attributes do we owe the whole of our economic well-being.”

“Now, part of the problem with the climate debate is that so much gas board language like that [the IPCC's language] has been used and there's been too little plain, scientific, and economic thinking. And so, the entire political class has been captured by an idea, which as always with the best bad ideas has a grain of truth in it, which is then exaggerated beyond all reason. This has happened before - one thinks of the Dreyfus case, for instance.”

“For decades, I thought that scientific truth, solid economic case studies, and common sense were enough to bring about change on the environmental front. After all, the data is so compelling! I thought that if people just understood the severity of today's environmental threats and knew about available solutions, those solutions would happen. Not so.”