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Economic Quotes

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Economic Quotes

“Government by the people for the people becomes meaningless unless it includes major economic decision-making by the people for the people. This is not simply an economic matter. In essence it is an ethical and moral question, for whoever takes the important economic decisions in society ipso facto determines the social priorities of that society.”

“The economy has settled into a sustainable, self-reinforcing growth path, .. All major categories of the economy have contributed to economic growth. Now that businesses have begun to add to payrolls, the current expansion is self-reinforcing. Only external shocks, such as terrorist attacks or a surge in oil prices, could derail the recovery.”

“In the past the intrinsic pleasures of parenthood for most American families were increased by the extrinsic economic return thatchildren brought. Today, parents have children despite their economic cost. This is a major, indeed a revolutionary, change.”

“I don't think you can pump carbon dioxide into the atmosphere indefinitely and not have a reaction. But there are great scientists such as Freeman Dyson, one of the greatest physicists of the last hundred years, who has studied the question, who believes quite the opposite. The reason transnational action is so difficult is because the major problem with climate change is, A, that there is no consensus, and, B, that the economic cost is simply staggering. Reversing it completely might mean undoing the modern industrial economy.”

“The major impediment to experiencing the sacred depths of ordinary moments is the speed and distraction of contemporary life that moves to the imperatives of the global economic order.In addition, we increasingly live in a virtual world in which our reality is filtered through media and information technology.”

“Until the 1930s, the Constitution served as a major constraint on federal economic interventionism. The government's powers were understood to be just as the framers intended: few and explicitly enumerated in our founding document and its amendments. Search the Constitution as long as you like, and you will find no specific authority conveyed for the government to spend money on global-warming research, urban mass transit, food stamps, unemployment insurance, Medicaid, or countless other items in the stimulus package and, even without it, in the regular federal budget.”

“The future of private enterprise capitalism is also the future of a free society. There is no possibility of having a politically free society unless the major part of its economic resources are operated under a capitalistic private enterprise system.”

“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.”

“The nature of the state is one thing, but there are other major challenges - what it will take to tackle the issues of social corruption, for example, social justice, and the economic system - and what are the future challenges when it comes to equality between the citizens, in particular in the field of the job market and equal opportunity for men and for women? This is at the centre of the question that is the Arab Awakening.”