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Economic Quotes

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Economic Quotes

“We do not have many women leaders in the world. But if you look at the current examples, most of those few female leaders that we have today lead their countries under the pressure of difficult political and economic circumstances. They all posses strong personalities and have real political influence on the domestic and international scene.”

“The royalists of the economic order have conceded that political freedom was the business of the government, but they have maintained that economic slavery was nobody's business. They granted that the government could protect the citizen in his right to vote, but they denied that the government could do anything to protect the citizen in his right to work and his right to live. Today we stand committed to the proposition that freedom is no half-and-half affair. If the average citizen is guaranteed equal opportunity in the polling place, he must have equal opportunity in the market place.”

“If the self-discipline of the free cannot match the iron discipline of the mailed fist, in economic, political, scientific, and all the other kinds of struggles, as well as the military, then the peril to freedom will continue to rise.”

“I am not interested in dry economic socialism. We are fighting against misery, but we are also fighting against alienation. One of the fundamental objectives of Marxism is to remove interest, the factor of individual interest, and gain, from people's psychological motivations. Marx was preoccupied both with economic factors and with their repercussions on the spirit. If communism isn't interested in this too, it may be a method of distributing goods, but it will never be a revolutionary way of life.”

“The great multinationals are unwilling to face the moral and economic contradictions of their own behavior - producing in low-wage dictatorships and selling to high-wage democracies. Indeed, the striking quality about global enterprises is how easily free-market capitalism puts aside its supposed values in order to do business. The conditions of human freedom do not matter to them so long as the market demand is robust. The absence of freedom, if anything, lends order and efficiency to their operations.”

“Many of us regard ourselves as mildly liberal or centrist politically, voice fairly pleasant sentiments about our poor children, contribute money to send poor kids to summer camp, feel benevolent. We're not nazis; we're nice people. We read sophisticated books. We go to church. We go to synagogue. Meanwhile, we put other people's children into an economic and environmental death zone. We make it hard for them to get out. We strip the place bare of amenities. And we sit back and say to ourselves, "Well, I hope that they don't kill each other off. But if they do, it's not my fault.”

“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.”

“In times of economic distress, it's only natural for people - and Americans have done this for many years - to look for a scapegoat. Depending on where you live in this country, the scapegoats are either, frankly, Mexicans or Muslims. So, you know, God save you if you happened to be a Mexican Muslim in America right now.”

“Music was not always my fan. Sometimes there were lean years, years where I was uncertain if I was doing the right or wrong thing. And years where there wasn't the acceptance, years of economic hardships, and failures. That's when you get to know either who you are, what you're made of, or what's inside of you. If you don't probe deeper, you'll never know, and you can't go on.”

“If democracy is control by the people, as it is supposed to be, it is the right form of government. I believe in a complete democracy - individual, political, social, economic. If we really had that, which we don't now, it would be in harmony with divine purpose.”

“Everybody complains about pork, but members of Congress keep spending because voters do not throw them out of office for doing so. The rotten system in Congress will change only when the American people change their beliefs about the proper role of government in our society. Too many members of Congress believe they can solve all economic problems, cure all social ills, and bring about worldwide peace and prosperity simply by creating new federal programs. We must reject unlimited government and reassert the constitutional rule of law if we hope to halt the spending orgy.”

“Everyone has an equal and absolute right to sovereignty over his own body, his own property, and his own life, and to pursue his own happiness in any way that he chooses. No one has the authority to grant rights to anyone else, because human beings already possess all natural rights at birth. These rights include both personal and economic freedoms, and the only way they can be lost is if someone takes them away by force. The only right that an individual does not naturally possess is the right to violate someone else's liberty.”

“Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, `What would I do if I were a horse?' '”

“For the moment a lot of attention is given to economic concerns, and these problems at hand easily eclipse all others. But the remedies proposed for these problems all come out of outmoded ways of thinking... The remedy? Compassion. The logical feeling that we find in ourselves if we search deeply enough that has to be exercised toward all other living creatures.”

“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.”

“There's only one thing different about Barack Obama when it comes to being a Democratic presidential candidate. He's half African-American. Whether that will make any difference, I don't know. I haven't heard him have a strong crackdown on economic exploitation in the ghettos. Payday loans, predatory lending, asbestos, lead. What's keeping him from doing that? Is it because he wants to talk white? He doesn't want to appear like Jesse Jackson? We'll see all that play out in the next few months and if he gets elected afterwards.”

“If I were a German today, I would be proud, proud but also worried. I would be proud of the magnificent achievement of rebuilding my country, entrenching democracy and assuming the undoubtedly preponderant position in Europe. But a united Germany can't and won't subordinate its national interests in economic or in foreign policy to those of the Community indefinitely. Germany's new pre-eminence is a fact - and its power is a problem - as much for Germans as for the rest of Europe.”

“The free market exists to promote prosperity and human life, and that is what it has accomplished, splendidly, with breathtaking brilliance. In the industrialized world, the average person today enjoys a standard of living superior to that of kings and emperors of the past. The whole world's population is capable of enjoying the same marvelous results, if it adopts economic freedom.”

“If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.”

“The rules in this new 'post-partisan' era are pretty simple: If the Democratic Party wants it, it's 'stimulus.' If the Republican Party opposes it, it's 'politics' - as in headlines like this: 'Obama Urges GOP To Keep Politics To A Minimum On Stimulus.' These are serious times: As the president says, it's the worst economic crisis since the Thirties. So politicians need to put politics behind them and immediately lavish $4.19 billion on his community-organizing pals at the highly inventive 'voter registration' group ACORN for 'neighborhood stabilization activities.”

“If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.”

“When Obama's economic advisers - a greater group of schlemiels would be hard to find - warn that failure to raise the limit will trigger default and horrific consequences for the global economy, Republicans should reply that if this is so, tell it to your president and get him to approve the spending cuts along with the debt-limit increase.”

“Beware leverage in all its forms. Borrowers - individual, corporate, or government - should always match fund their liabilities against the duration of their assets. Borrowers must always remember that capital markets can be extremely fickle, and that it is never safe to assume a maturing loan can be rolled over. Even if you are unleveraged, the leverage employed by others can drive dramatic price and valuation swings; sudden unavailability of leverage in the economy may trigger an economic downturn.”

“If you start from a belief that the most knowledgeable person on earth does not have even one percent of the total knowledge on earth, that shoots down social engineering, economic central planning, judicial activism, and innumerable other ambitious notions favored by the political left.”

“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.”

“A delicate balance is required to combat violence perpetrated in the name of a religion, an ideology or an economic system, while also safeguarding religious freedom, intellectual freedom and individual freedoms. But there is another temptation which we must especially guard against: the simplistic reductionism which sees only good or evil; or, if you will, the righteous and sinners.”

“Tom Walls' buddies remain an isolated minority, except during times of economic or social stress, when a mass following develops to blame cranky sociopaths for the problems besetting society. If it weren't for brown-nosing evil firebrands, he would have no friends. The ideas backing up his rejoinders are extremely superficial and sex-crazed.”

“No one can predict whether the earth will be cooler or hotter next year, let alone do anything to change it. If you're afraid of global warming, turn off the lights when you leave the room - but don't participate in the corruption of science, don't scare our kids with unproven cataclysmic theories, and don't try to ban economic energy sources that people living on this planet depend upon today. And don't try to stop progress; it's the only hope the earth has of seeing clean industry, short of exterminating mankind.”

“The struggle to create a nation and world of economic and social justice and environmental sanity is not an easy one. The struggle to try and create a more peaceful world will be extremely difficult. But this I know: despair is not an option if we care about our kids and grandchildren. Giving up is not an option if we want to prevent irreparable harm to our planet.”

“If a legislator is safe from competition, or if he represents groups with the same economic and political beliefs, he does not have to change his ideas or respond to the needs of the broader population. He can rest content with a mediocre, absentee performance knowing he will be returned to office. And as he is returned year after year the seniority system gives him immense control over people from other parts of the country whose views he need not heed at all.”

“One of the factors a country's economy depends on is human capital. If you don't provide women with adequate access to healthcare, education and employment, you lose at least half of your potential. So, gender equality and women's empowerment bring huge economic benefits.”

“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.”

“Don't ever let anyone tell you that history doesn't repeat. For 70 years, liberals have been spinning the yarn that FDR's New Deal, despite all the evidence that it exacerbated and prolonged the Great Depression, quickened our economic recovery. Indeed, I remember scratching my head when one of my college history professors in the 1970s tried to convince us of that theory and its corollary - an even better howler - that FDR was actually a conservative, because if he hadn't implemented his socialist programs, the republic would have died right there.”