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Economic Quotes

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Economic Quotes

“We must look at what immigration to America involves. To the new arrivals, the change is excruciating. Learning a new language and dealing with strange customs make the first years of life in the new land painful... The economic system of the United States is a mighty engine of persuasion. It motivates people to do what otherwise they never would in return for fulfilling their dreams. In the process, people learn that there is no sharp line between physical well-being and the higher purposes of life. The comfort of owning a house is at once meeting the obligation to care for one”

“I don't think one can accurately measure the historical effectiveness of a poem; but one does know, of course, that books influence individuals; and individuals, although they are part of large economic and social processes, influence history. Every mass is after all made up of millions of individuals.”

“Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.”

“The most basic inherent constraint is that neither time nor wisdom are free goods available in unlimited quantity. This means that in social processes, as in economic processes, it is not only impossible to attain perfection but irrational to seek perfection- or even to seek the best possible result in each separate instance.”

“This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time to change the economic development model that has been reigning for at least 150 years, since the industrial revolution. That will not happen overnight and it will not happen at a single conference on climate change, be it COP 15, 21, 40 - you choose the number. It just does not occur like that. It is a process, because of the depth of the transformation.”

“So my life and the life of my family has been completely disrupted in absolutely every way. But it's been worth it. It's uncovered a vast cesspool of illegitimate economic and political power in which the Church is immersed right up to its ears, and I intend to dive in headfirst and pull it out of there dripping wet for all the world to see -- no matter how long it takes, no matter whose feet get stepped on in the process, no matter how much it costs, no matter how great the personal sacrifice.”

“Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.”

“poverty has no causes. Only prosperity has causes. Analogically, heat is a result of active processes; it has causes. But cold is not the result of any processes; it is only the absence of heat. Just so, the great cold of poverty and economic stagnation is merely the absence of economic development.”

“In fact, technology in, and of, itself does not cause particular kinds of change. It is, essentially, an enabling or facilitating agent. It makes possible new structures, new organizational and geographical arrangements of economic activities, new products and new processes, while not making particular, outcomes inevitable.”

“The widespread inability to understand technological artifacts as fabricated entities, as social and cultural phenomena, derives from the fact that in retrospect only those technologies that prove functional for a culture and can be integrated into everyday life are 'left over.' However, the perception of what is functional, successful and useful is itself the product of social and cultural--and last but not least--political and economic processes. Selection processes and abandoned products and product forms are usually not discussed.”

“The United States is strongly committed to the IPCC process of international cooperation on global climate change. We consider it vital that the community of nations be drawn together in an orderly, disciplined, rational way to review the history of our global environment, to assess the potential for future climate change, and to develop effective programs. The state of the science, the social and economic impacts, and the appropriate strategies all are crucial components to a global resolution. The stakes here are very high; the consequences, very significant.”

“In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.”

“I think that the movement against the World Bank, against the globalization process that is happening, is very positive. We need a globalization, a globalization of people who are committed to social justice, to economic justice. We need a globalization of people who are committed to saving this earth, to making sure that the water is drinkable, that the air is breathable.”

“So-called Individualism is the social and economic laissez-faire: the exploitation of the masses by the classes by means of legal trickery, spiritual debasement and systematic indoctrination of the servile spirit, which process is known as 'education'.”

“A very high fraction of America's economic problems come not from our difficulties with education or globalization or competition with the Chinese or whatever. But they come from the fact that a small number of wealthy and powerful people who run dangerous and/or inefficient companies are able, through the use of money in the political process, to prevent the government from regulating them properly.”

“We're obviously at the edge of something quite new in humanity's experience. That is this globalization process which isn't just economic or social, but involves the interpenetration of cultures, people moving to different places several times in their lifetime, traveling for business or pleasure, and marrying people of very different cultural backgrounds, all of which was almost impossible a hundred years ago.”

“Sometimes people say to me, 'Well, what was the difference between Kosovo, which was a successful intervention, and Iraq and Afghanistan that have been so difficult?' And the answer is perfectly simple. In Kosovo, you have, after the removal of the loss of its regime, you had a process of political and economic reconstruction that took its part without the intervention of terrorism. If you had the intervention of terrorism, by the way, it would have been extremely difficult there - but we didn't.”

“We have established the Customs Union and the Eurasian Economic Union not by force, but through a compromise. It was a challenging, complicated, multi-year process based on agreement, compromise and mutually acceptable conditions in the hope of creating for our economies and for our people better competitive advantages in the world markets and in the world as a whole.”