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Economic Quotes

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Economic Quotes

“In a revolutionary age talk of equality may well have represented a passion to provide full human dignity to those who had previously been denied it by systems of political and economic domination; but in the present age it softens the spiritual requirements that are an essential ingredient in human dignity. Thus the slogans of equality serve not so much to elevate individuals to the dignity of being human as to free them from the responsibility of rising to this vocation.”

“Air pollution is a threat to health, especially of older persons. It contributes significantly to the rising rates of chronic respiratory ailments. It stains our cities and towns with ugliness, soiling and corroding whatever it touches. Its damage extends to our forests and farmlands as well. The economic toll for our neglect amounts to billions of dollars each year.”

“Capitalism in the 19th century did not doom the worker to a life of perpetual poverty. Instead, they kept creating new and better-paying employments as the decades went by. They produced the wealth and rising income that resulted in the emergence of a phenomenon completely new to human history: a self-supporting and educated middle class that grew more and more as they lower classes bettered their economic well-being.”

“A different set of incentives from rising in an economic establishment where the rewards system, again, the reinforcement, comes from being a truffle hound. That's what Jacob Viner, the great economist called it: the truffle hound - an animal so bred and trained for one narrow purpose that he wasn't much good at anything else, and that is the reward system in a lot of academic departments.”