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Economic Quotes

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Economic Quotes

“We must look at what immigration to America involves. To the new arrivals, the change is excruciating. Learning a new language and dealing with strange customs make the first years of life in the new land painful... The economic system of the United States is a mighty engine of persuasion. It motivates people to do what otherwise they never would in return for fulfilling their dreams. In the process, people learn that there is no sharp line between physical well-being and the higher purposes of life. The comfort of owning a house is at once meeting the obligation to care for one”

“If the positive innovations connect exponentially before the massive breakdowns reinforce one another, the system can re-pattern itself to a higher order of consciousness and freedom without the predicted economic, environmental, and social collapse...If the system could go either way, a slight intervention to assist the convergence of the positive can tip the scales of evolution in favor of the enhancement of life on Earth.”

“Political monopoly and economic monopoly are two sides of the same coin, two heads of the same monster. Despite all the claims to the contrary, the essential ideology of Neo-Conservatism is to preserve the status quo, with all of its injustices. Its public relations experts call for "freedom and democracy" without a framework of higher values. They fail to comprehend the need for a paradigm of justice and therefore are blind to what concerns most of the people in the world. This failure is the taproot of terrorism.”

“Freedom is the very essence of life, the impelling force in all intellectual and social development, the creator of every new outlook for the future of mankind. The liberation of man from economic exploitation and from intellectual and political oppression, which finds its finest expression in the world-philosophy of Anarchism, is the first prerequisite for the evolution of a higher social culture and a new humanity.”

“Relationships are at the core of any political system and economic system - any family - and I think we drifted away from understanding that in our country. The people-to-people level is critical. It is ironic, though - we can text with anybody in the world, we can have a videoconference with anybody in the world, but [there should be] an even higher premium on showing up and getting to know someone.”

“People tend to be clueless about prices. Contrary to economic theory, we don't really decide between A and B by consulting our invisible price tags and purchasing the one that yields the higher utility, he says. We make do with guesstimates and a vague recollection of what things are “supposed to cost.””

“The philanthropic tradition is older than democracy, older than Christianity, and older than higher education. It gives form and purpose to personal and social life that cannot be provided by the self-interest of economic enterprise or required by the mandate of political institutions.”

“If you look at a farmer and his daily expenditure on existing energy services, it is much higher on an incremental delta basis. And then there is an emotional cost of not providing their kids with the right to educate. If you calculate these costs in economic terms and create a financing mechanism for them to buy it, the emotional delta cost is much higher compared to their household.”

“In Mexico, a poor country, higher education is of quite good quality -- and is free. Ten years ago the government tried to impose small fees. There was a national student strike and the government backed down. High tuition is not an economic necessity, as is easy to show, but a debt trap is a good technique of indoctrination and control. And resisting this makes good sense.”

“If, on the other hand, conservationists are willing to insist on having the best food, produced in the best way, as close to their homes as possible, and if they are willing to learn to judge the quality of food and food production, then they are going to give economic support to an entirely different kind of land use in an entirely different landscape. This landscape will have a higher ratio of caretakers to acres, of care to use. It will be at once more domestic and more wild than the industrial landscape.”

“The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.”

“In every major war we have fought in the 19th and 20th centuries. Americans have been asked to pay higher taxes - and nonessential programs have been cut - to support the military effort. Yet during this Iraq war, taxes have been lowered and domestic spending has climbed. In contrast to World War I, World War II, the Korean War and Vietnam, for most Americans this conflict has entailed no economic sacrifice. The only people really sacrificing for this war are the troops and their families.”

“According to the management expert Peter F. Drucker, the term "entrepreneur" (from the French, meaning "one who takes into hand") was introduced two centuries ago by the French economist Jean-Baptiste Say to characterize a special economic actor-not someone who simply opens a business, but someone who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." The twentieth-century growth economist Joseph A. Schumpeter characterized the entrepreneur as the source of the "creative destruction" necessary for major economic advances.”