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Economic Quotes

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Economic Quotes

“Libertarians have always battled the age-old scourge of war. They understood that war brought death and destruction on a grand scale, disrupted family and economic life, and put more power in the hands of the ruling class - which might explain why the rulers did not always share the popular sentiment for peace. Free men and women, of course, have often had to defend their own societies against foreign threats; but throughout history, war has usually been the common enemy of peaceful, productive people on all sides of the conflict.”

“There are but three political-economic roads from which we can choose... We could take the first course and further exacerbate the already concentrated ownership of productive capital in the American economy. Or we could join the rest of the world by taking the second path, that of nationalization. Or we can take the third road, establishing policies to diffuse capital ownership broadly, so that many individuals, particularly workers, can participate as owners of industrial capital. The choice is ours.”

“The slave states of Western world are an outgrowth of monopolistic capitalism - an economic system which is opposed to the wide distribution of private property in many hands. Instead, monopolistic capitalism concentrates productive wealth among a few men, allowing the rest to become a vast proletariat.”

“Anarchism is a definite intellectual current in the life of our times, whose adherents advocate the abolition of economic monopolies and of all political and social coercive institutions within society. In place of the present capitalistic economic order Anarchists would have a free association of all productive forces based upon co-operative labour, which would have as its sole purpose the satisfying of the necessary requirements of every member of society, and would no longer have in view the special interest of privileged minorities within the social union.”

“The most important difference between these early American families and our own is that early families constituted economic unitsin which all members, from young children on up, played important productive roles within the household. The prosperity of the whole family depended on how well husband, wife, and children could manage and cultivate the land. Children were essential to this family enterprise from age six or so until their twenties, when they left home.”

“It is also in despair of being able to understand or make any productive contribution to the highly organised chaos of our politico-economic system that large numbers of people simply abandon political and social committments. They just let society be taken over by a pattern of organisation which is as self-proliferative as a weed, and whose ends and values are neither human nor instinctive but mechanical.”

“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 Obama administration seems to be following what might be called 'the Detroit pattern increasing taxes, harassing businesses, and pandering to unions. In the short run, it got mayors re-elected. In the long-run, it reduced Detroit from a thriving city to an economic disaster area, whose population was cut in half, as its most productive citizens fled.”

“My belief in free competitive economic enterprise does not rest solely or even mainly on arguments of economic efficiency, though, heaven knows, these are cogent enough. It rests essentially on the view that the free market is the only safe way of ensuring that productive effort is directed towards supplying what individuals actually want, and in a way which secures the dignity and independence of the worker.”

“The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.”