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Economic Quotes

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Economic Quotes

“Our supplies of natural resources are not finite in any economic sense. Nor does past experience give reason to expect natural resources to become more scarce. Rather, if history is any guide, natural resources will progressively become less costly, hence less scarce, and will constitute a smaller proportion of our expenses in future years.”

“A race that is solely dependent upon another for economic existence sooner or later dies. As we have in the past been living upon the mercies shown by others, and by the chances obtainable, and have suffered there from, so we will in the future suffer if an effort is not made now to adjust our own affairs.”

“Where there has been racial hatred, it must be ended. Where there has been tribal animosity, it will be finished. Let us not dwell upon the bitterness of the past. I would rather look to the future, to the good new Kenya, not to the bad old days. If we can create this sense of national direction and identity, we shall have gone a long way to solving our economic problems.”

“All "if" statements about the past are as dubious as prophecies of the future are. It seems fairly plausible that if Alexander or Ghengis Khan had never been born, some other individual would have filled his place and executed the design of the Hellenic or Mongolic expansion; but the Alexanders of philosophy and religion, of science and art, seem less expendable; their impact seems less determined by economic challenges and social pressures; and they seem to have a much wider range of possibilities to influence the direction, shape and texture of civilizations.”

“The raw fact is that every successful example of economic development this past century – every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living – has taken place via globalization, that is, by producing for the world market rather than trying for self-sufficiency.”

“The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future.”

“The achievements of past struggles and the aspirations of an entire nation are [being] undone and erased.... No Agent Orange or steel pellet bombs, no napalm, no toxic chemicals: a new phase of economic and social (rather than' physical) destruction has unfolded. The seemingly neutral and scientific tools of macro-economic policy constitute a non-violent instrument of recolonization and impoverishment.”

“In recent years, we've become enamored with our own past success. Lulled into complacency by the glitter of our own achievements. We've become accustomed to the title of Military Superpower, forgetting the qualities that got us there. We've become accustomed to our economic dominance in the world, forgetting that it wasn't reckless deals and get rich quick schemes that got us where we are, but hard work and smart ideas, quality products and wise investments.”

“There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before us will be to chart a direction for the economic steps ahead. This will be a dangerous moment. Behind the debates over future policy is a debate over history-a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it's crucial to get the history straight.”

“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.”

“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.”

“The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses...While these tendencies were no doubt in train in the "old," pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.”

“The catastrophe of the atomic bombs which shook men out of cities and businesses and economic relations, shook them also out of their old-established habits of thought, and out of the lightly held beliefs and prejudices that came down to them from the past.”

“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.”

“Economic systems work better when there's an extreme reliability ethos. And the traditional way to get a reliability ethos, at least in past generations in America, was through religion. The religions instilled guilt. ... And this guilt, derived from religion, has been a huge driver of a reliability ethos, which has been very helpful to economic outcomes for man.”

“The more subtle thing is more speculative. The world is well past its long-term carrying capacity for human beings living a European, much less an American, lifestyle predicated on planned obsolescence. International economic growth is largely a matter of accelerated movement of materials from mines and forests to the dump. Instead of saving and buying decent furniture we can pass on to our children, we charge our credit cards for shaped heaps of sawdust and glue that fall apart in less than three or four years.”

“I think what Donald Trump is saying to people is that America has way more leverage at the negotiating table than America has used in the past. And whether you like it or not, the government and trade representatives have made the decision not to use that leverage. And it has had an economic impact on the lower and middle class.”