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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).”

“The Fascist State lays claim to rule in the economic field no less than in others; it makes its action felt throughout the length and breadth of the country by means of its corporate, social, and educational institutions, and all the political, economic, and spiritual forces of the nation, organised in their respective associations, circulate within the State.”

“It is therefore our business to restore economic freedom through the restoration of the only institution under which it flourishes, which institution is Property. The problem before us is, how to restore Property so that it shall be, as it was not so long ago, a general institution.”

“Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.”

“But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.”

“Free trade holds much of the blame for continued international conflict. Markets are said to possess wisdom that is somehow superior to man. Those of us in business who travel in the developing world see the results of such western wisdom and have a rumbling disquiet about much of what our economic institutions have bought into.”

“Anarchism is a definite intellectual current in the life of our times, whose adherents advocate the abolition of economic monopolies and of all political and social coercive institutions within society. In place of the present capitalistic economic order Anarchists would have a free association of all productive forces based upon co-operative labour, which would have as its sole purpose the satisfying of the necessary requirements of every member of society, and would no longer have in view the special interest of privileged minorities within the social union.”

“All economic and political institutions are contrivances that should serve the interests of the people. When they fail to do so, they should be replaced by something more responsive, more just, and more democratic. Marx said this, and so did Jefferson. It is a revolutionary doctrine, and very much an American one.”

“The Congressional Budget Office is a reactionary socialist institution which does not believe in economic growth, does not believe in innovation, and does not believe in data that it has not internally generated.”

“The faith of a church or of a nation is an adequate faith only when it inspires and enables people to give of their time and energy to shape the various institutions - social, economic, and political - of the common life.”

“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.”

“Schools, the institutions traditionally called upon to correct social inequality, are unsuited to the task; without economic opportunity to follow educational opportunity, the myth of equality can never become real. Far more than a hollow promise of future opportunity for their children, parents need jobs, income, and services. And children whose backgrounds have stunted their sense of the future need to be taught by example that they are good for more than they dared dream.”

“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.”

“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.”

“The World Trade Organization, The World Bank, The International Monetary Fund and other financial institutions virtually write economic policy and parliamentary legislation. With a deadly combination of arrogance and ruthlessness, they take their sledgehammers to fragile, interdependent, historically complex societies and devastate them, all under the fluttering banner of 'reform'.”

“I am here because libraries and museums are singular and important institutions with unique contributions to make to our nation. But more importantly, I am here as an advocate for children and families, for healthy communities, for economic development, for scholars and researchers, for individuals who seek educational and informational resources throughout their lives.”