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Economic Quotes

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Economic Quotes

“Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ... In developed capitalist economies, private consumption spending accounts for half or more of GDP.”

Important Half Economy Economic Accounts Function Productions Spending Capitalist Household Consumption Gdp Capitalist Economy

Book:Economics for everyone: a short guide to the economics of capitalism

Source: Economics for everyone: a short guide to the economics of capitalism

“But public works, economic protectionism, cheap money, "deficit-financed government spending," and "the animal spirits of the spendthrift in the service of boosting "consumption demand"... Doesn't Keynesianism simply appeal to the worst in human nature?”

Humans Government Spirit Animal Economic Worst Human Nature Demand Spending Appeals Consumption Deficit Government Spending Protectionism Spendthrift Animal Spirits Keynesianism

Author:Ilana Mercer

“Unless we do change our whole way of thought about work, I do not think we shall ever escape from the appalling squirrel-cage of economic confusion in which we have been madly turning for the last three centuries or so, the cage in which we landed ourselves by acquiescing in a social system based upon Envy and Avarice. A society in which consumption has to be artificially stimulated in order to keep production going is a society founded on trash and waste.”

Thinking Way Has Beens Whole Lasts Order Three Social Work Economic Century Waste Economics Productions Envy Confusion Consumption Cages Trash Avarice Squirrels Social Systems

Author:Dorothy L. Sayers

“All I am asking is that we follow the golden rule: "Do unto others as you would have them do unto you." This is fundamentally a moral issue, not an economic issue. Given what we know now, it is simply unethical to impose risk of grave damage on future generations just so that we can have a few more consumer products today.”

“One of the big take-aways from a lot of economic theory is that people should engage in consumption smoothing.”

People Should Bigs Economic Theory Consumption Economic Theory

Author:Emily Oster

“To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature.”

Wells Mean Faces Law Levels Plans Economic Higher Economics Increase Productions Consumption Laws Of Nature Higher Level

Author:Calvin Coolidge

“The process of consumption is the final act in the economic drama.”

Process Economic Drama Finals Consumption

Author:Kenneth E. Boulding

“Although population and consumption are societal issues, technology is the business of business. If economic activity must increase tenfold over what it is today to support a population nearly double its current size, then technology will have to reduce its impact twenty-fold merely to keep the planet at its current levels of environmental impact. For example, to stabilize the climate we may have to reduce real carbon emissions by as much as 80 percent, while simultaneously growing the world economy by an order of magnitude.”

Source: Capitalism at the Crossroads: Next Generation Business Strategies for a Post-Crisis World

“The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.”

Country Interest Struggle Economic Europe Performances Rate Burden Wide Germany Divided Ireland Consumption Spain Housing Belts Interest Rate Creditors Debtors Divergence Reunification

Author:George Soros

“The effect of the post-Enlightenment project for human society is that all human activity is absorbed into labor. It becomes an unending cycle of production for the sake of consumption. The modern concept of "built-in obsolescence" makes this clear. The cycle of production and consumption has to be kept going, and the work of the artist or craftsman who aims to create something enduring becomes marginal to the economic order.”

“I shall argue that it is the capital stock from which we derive satisfaction, not from the additions to it (production) or the subtractions from it (consumption): that consumption, far from being a desideratum, is a deplorable property of the capital stock which necessitates the equally deplorable activity of production: and that the objective of economic policy should not be to maximize consumption or production, but rather to minimize it, i.e. to enable us to maintain our capital stock with as little consumption or production as possible.”

Should Littles Economic Policy Activity Property Satisfaction Productions Arguing Objectives Consumption Economic Policy Subtraction

Author:Kenneth E. Boulding

“Inappropriate macro economic policies in some economies, characterised by [a] low savings rate and high consumption [and] failure of financial supervision and regulation to keep up with innovation which allowed financial derivatives to spread.”

Economy Economic Policy Lows Innovation Rate Financial Spread Saving Regulation Consumption Savings Inappropriate Derivatives Economic Policy Supervision Macro

Author:Wen Jiabao

“Every society clings to a myth by which it lives. Ours is the myth of economic growth...”

Growth Economic Myth Consumption Economic Growth

Author:Tim Jackson

“I think we have reached a stage now where we need to find solutions to economic injustice in the same place and in the same ways that we find solutions to sustainability. Sustainability on environmental grounds and justice in terms of everyone having a place in the production and consumption system - these are two aspects of the same issue. They have been artificially separated and have to be put back again in the Western way of thinking.”