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Economic Quotes

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Economic Quotes

“We in the West have arranged our institutions to prevent the concentration of political power. … But we have failed utterly to prevent the concentration of economic power, or take account of how such concentration damages the conditions under which full human flourishing becomes possible (it is never guaranteed).”

Humans Political Economic Conditions Accounts Institutions West Damage Concentration Political Power Flourishing Economic Power

Book:Shop Class as Soulcraft: An Inquiry into the Value of Work

Source: Shop Class as Soulcraft: An Inquiry into the Value of Work

“Today, we have our own concentrations of economic power. Instead of Standard Oil, U.S. Steel, the Union Pacific Railroad, and J. P. Morgan and Company, we have Amazon, Google, Apple, Facebook, and Microsoft.”

Today Company Economic Standards Unions Oil Apples Concentration Google Steel Microsoft Pacific Amazon Railroads Economic Power Standard Oil

Author:George Packer

“Democracy can hardly be expected to flourish in societies where political and economic power is being progressively concentrated and centralized. But the progress of technology has led and is still leading to just such a concentration and centralization of power.”

Stills Political Technology Power Democracy Progress Economic Capitalism Expected Novelists Concentration Flourishing Economic Power Centralization

Book:Complete Essays: 1956-1963, and supplement, 1920-1948

Source: Complete Essays: 1956-1963, and supplement, 1920-1948

“The concentration of wealth is a natural result of this concentration of ability, and regularly recurs in history. The rate of concentration varies (other factors being equal) with the economic freedom permitted by morals and laws.”

Law Politics Natural Wealth Ability Results Moral Economy Economic Equal Rate Factors Liberalism Concentration Vary Economic Freedom Being Equal Concentration Of Wealth

Book:The Lessons of History

Source: The Lessons of History

“Worldwide, the twentieth century has seen the rise of extraordinary concentrations of economic and political power - evoking the people as the source of power while simultaneously privatizing its most meaningful exercise. Democracy always seems to be at least slightly elusive under such conditions.”

People Seems Political Democracy Economic Conditions Century Source Exercise Extraordinary Meaningful Concentration Twentieth Century Elusive Political Power Most Meaningful

Author:Thomas L. Dumm

“For out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital - all undreamed of by the Fathers - the whole structure of modern life was impressed into this royal service.”

Source: The Essential Franklin Delano Roosevelt

“In Egypt the neoliberal programs have meant statistical growth, like right before the Arab Spring, Egypt was a kind of poster child for the World Bank and the IMF [International Monetary Fund:] the marvelous economic management and great reform. The only problem was for most of the population it was a kind of like a blow in the solar plexus: wages going down, benefits being eliminated, subsidized food gone and meanwhile, high concentration of wealth and a huge amount of corruption.”