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Economic Quotes

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Economic Quotes

“Economic activity, especially the activity of a market economy, cannot be conducted in an institutional, juridical or political vacuum. On the contrary, it presupposes sure guarantees of individual freedom and private property, as well as a stable currency and efficient public services.”

Source: The Encyclicals of John Paul II

“What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.”

Economy Economic Capitalism Consumers Sovereignty Critique Market Economy

Author:Ludwig von Mises

“Government means always coercion and compulsion and is by necessity the opposite of liberty. Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of economic freedom. Where there is no market economy, the best-intentioned provisions of constitutions and laws remain a dead letter.”

Source: Economic freedom and interventionism: an anthology of articles and essays

“We fought hard for socialism in a devastating war of independence and reunification. To build an affluent and prosperous society, we chose the path of a socialist market economy. We have achieved strong economic growth, and yet the sense of solidarity in our society has not been lost. This is very important to people.”

“The truth is that capitalism has not only multiplied population figures, but at the same time, improved the people's standard of living in an unprecedented way. Neither economic thinking nor historical experience suggests that any other social system could be as beneficial to the masses as capitalism. The results speak for themselves. The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren's epitaph in St. Paul's: Si monumentum requires, circumspice.”

“I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.”

“As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.”

Political Liberty Economy Rights Economic Members Bills Grants Bill Of Rights Market Economy Economic Freedom Humbug

Book:Economic freedom and interventionism: an anthology of articles and essays

Source: Economic freedom and interventionism: an anthology of articles and essays

“Though my heart may be left of centre, I have always known that the only economic system that works is a market economy... This is the only natural economy, the only kind that makes sense, the only one that can lead to prosperity, because it is the only one that reflects the nature of life itself.”

Heart Kind May Left Natural Known Economy Economic My Heart Prosperity Make Sense Centre Economic Systems Market Economy

Author:Vaclav Havel

“Unless there is free and fair competition, there can't be healthy economic development. And what we have in Burma now is not an open-market economy that allows free and fair competition, but a form of colonialism makes a few people very, very wealthy. It's what you would crony capitalism.”

People Form Economy Economic Development Healthy Capitalism Fairs Competition Wealthy Colonialism Economic Development Market Economy Burma Cronies Crony Capitalism

Author:Aung San Suu Kyi