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Economic Quotes

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Economic Quotes

“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.”

Men Doe Matter Hands Form Values Process Results Economic Objects Materials Benefits Transformation Productions Handle Contact Producers Consumers Location Availability

Author:Thomas Sowell

“An exploration of the challenges Korea faces in transforming its economy from a government-directed, low-cost producer to an innovative world economic power based on its own scientific and technological development.”

World Government Faces Challenges Economy Economic Development Cost Lows Producers Exploration Technological Innovative Korea Transforming Economic Power Technological Development

Author:Lewis M. Branscomb

“Our Government is pleased to invest in increasing export market access for the western Canadian lamb industry. By further strengthening this industry, we are helping producers create economic growth and long-term prosperity.”

Long Helping Government Growth Term Economic Industry Western Prosperity Access Producers Long Term Economic Growth Lambs Strengthening

Author:Michelle Rempel

“What little reality television I've seen seems to be about economic desperation. Like the marathon dancing of the Great Depression, which should give us pause. People willing to eat flies and worms for a sum that is less than the weekly paycheck of the show's producer. I haven't seen "reality television" that is other than this kind of painful, sadistic exploitation of fit young people looking for agents.”

“Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.”

Body Action Business Economic Depression Wounds Producers Cells Consumers Executives Healed Economic Depression

Book:Herbert Hoover, 1874-1964; chronology-documents-bibliographical aids

Source: Herbert Hoover, 1874-1964; chronology-documents-bibliographical aids

“One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies.”

“Much of the criticism of economic globalization has centered on factory labor abuses. But the majority of the world's poor are not employed in factories; they are self-employed - as peasant farmers, rural peddlers, urban hawkers, and small producers, usually involved in agriculture and small trade in the world's vast "informal" economy .”

Source: How to Change the World: Social Entrepreneurs and the Power of New Ideas, Updated Edition