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Economic Quotes

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Economic Quotes

“Inevitably, people tell me that poor folks are lazy or unintelligent, that they are somehow deserving of their poverty. However, if you begin to look at the sociological literature on poverty, a more complex picture emerges. Poverty and unemployment are part and parcel of our economic order. Without them, capitalism would cease to function effectively, and in order to continue to function, the system itself must produce poverty and an army of underemployed or unemployed people.”

PeopleIfsLooksOrderLiteraturePoorPovertyEconomicProduceCapitalismFunctionArmyComplexesFolksCeaseLazyUnemploymentDeservingUnemployedParcelSociologicalUnintelligentEconomic OrderUnderemployed
Author:Bob Torres
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“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.”

ImportantHalfEconomyEconomicAccountsFunctionProductionsSpendingCapitalistHouseholdConsumptionGdpCapitalist Economy
Book:Economics for everyone: a short guide to the economics of capitalism
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“Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically.”

LongMovingGrowthTermSimpleProgressEconomicStageModelsLogicFunctionIncreaseLong TermTrendsDeclineVariablesContainingHegelEconomic Models
Book:Break-Out from the Crystal Palace: The Anarcho-Psychological Critique: Stirner, Nietzsche, Dostoevsky
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“There are certain functions that the family performs. In the first place the family provides society with an orderly means of reproduction, while at the same time the norms of marriage control the potentially disruptive forces of sexuality. Second, the family provides physical and economic support for the child during the early years of dependence. The child receives its primary socialization in the family, learning the essential ideas and values required for adult life.”

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Author:Adrian Wilson
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“Capitalism had arisen through the misuse and exaggeration of certain rights, notably the right of property - the basis of economic freedom - and the right of contract, which is one of the main functions of economic freedom. Therefore, even under Capitalism, so long as the old principles were remembered it was possible to recall the principles whereby Society had once been sane and well ordered.”

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Author:Hilaire Belloc
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“Under the old social philosophy which had governed the Middle Ages, temporal, and therefore all economic, activities were referred to an eternal standard. The production of wealth, it distribution and exchange were regulated with a view to securing the Christian life of Christian men. In two points especially was this felt: First in securing the independence of the family, which can only be done by the wide distribution of property, in others words the prevention of the growth of a proletariat; secondly, in the close connection between wealth and public function.”

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Author:Hilaire Belloc
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“Competitive skills are desperately needed by poor children in America, and realistic recognition of the economic roles that they may someday have an opportunity to fill is obviously important, too. But there is more to life, and there ought to be much more to childhood, than readiness for economic functions.”

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Author:Jonathan Kozol
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“As the worldly philosophers of the past affirmed, the goal of economics is to improve the way society functions. In The New Financial Order, Robert Shiller joins this proud tradition by directing his brilliant economic skills toward the creation of financial institutions designed to reduce the risks an unknown future visits on most members of our society and others. Shiller's imaginative and compelling analysis will appeal to all readers who share his passion for initiating not only a richer, but a better, century.”

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Author:Peter L. Bernstein
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“We must remove government's smothering hand from where it does harm; we must seek to revitalize the proper functions of government. We do these things to set loose again the energy and the ingenuity of the American people. We do these things to reinvigorate those social and economic institutions which serve as a buffer and a bridge between the individual and the state - and which remain the real source of our progress as a people.”

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Book:Speaking my mind: selected speeches
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“If one writing contributed more than any other to the framework in which this work Sowell's Knowledge and Decisions developed, it would be an essay entitled 'The Use of Knowledge in Society,' published in the American Economic Review of September 1945, and written by F. A. Hayek . . In this plain and apparently simple essay was a deeply penetrating insight into the way societies function and malfunction, and clues as to why they are so often and so profoundly misunderstood.”

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Author:Thomas Sowell
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