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Economic Quotes

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Economic Quotes

“In Stage I, divorces were not allowed, so men's [sexual] affairs did not put women's economic security in jeopardy; in Stage II, affairs could lead to divorce, so men's affairs did place women's economic security in jeopardy. We did not want political leaders who would be role models for behavior that would put women's economic security in jeopardy.”

“With the increasingly important role of intelligent machines in all phases of our lives--military, medical, economic and financial, political--it is odd to keep reading articles with titles such as Whatever Happened to Artificial Intelligence? This is a phenomenon that Turing had predicted: that machine intelligence would become so pervasive, so comfortable, and so well integrated into our information-based economy that people would fail even to notice it.”

“Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.”

“China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.”

“Mothers have not always had the most important role in their children's upbringing, when they had other economic roles to play. Inpast centuries, fathers were the key parent in the upbringing of the next generation, because moral training, not emotional sensitivity, was thought to be central to successful child-rearing. Mothers were thought to corrupt their little ones with too much affection and not enough stern training.”

“The most important domestic challenge facing the U.S. at the close of the twentieth century is the re-creation of fatherhood as avital social role for men. At stake is nothing less than the success of the American experiment. For unless we reverse the trend of fatherlessness, no other set of accomplishments--not economic growth or prison construction or welfare reform or better schools--will succeed in arresting the decline of child well-being and the spread of male violence. To tolerate the trend of fatherlessness is to accept the inevitability of continued social recession.”

“Competitive skills are desperately needed by poor children in America, and realistic recognition of the economic roles that they may someday have an opportunity to fill is obviously important, too. But there is more to life, and there ought to be much more to childhood, than readiness for economic functions.”

“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.”

“All fundamentalist theologians make the ordinances of creation an essential part of creation and absolutize them. Women belong at home, fulfil their life through motherhood, by caring for their husbands and serving them. The fixed role pattern of one particular economic and family order is transformed into an order willed by God and given by creation. With a methodologically similar logic, slaves were understood as those elected by God to serve the whites.”

“Everybody complains about pork, but members of Congress keep spending because voters do not throw them out of office for doing so. The rotten system in Congress will change only when the American people change their beliefs about the proper role of government in our society. Too many members of Congress believe they can solve all economic problems, cure all social ills, and bring about worldwide peace and prosperity simply by creating new federal programs. We must reject unlimited government and reassert the constitutional rule of law if we hope to halt the spending orgy.”

“I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.”

“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.”

“The problem is, if at all, in the different view of the economy, of economic growth. Growth is too low, even for us. That needs to change: More investments, a stronger role by the European Central Bank. Otherwise, there are no tensions between Italy and Germany. But on this point, compromises must be reached and we will reach them.”

“When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the mainstream economics and why most of the economics that justifies austerity programs and economic shrinkage is in the textbooks is not scientific. Junk economics denies the role of debt and denies the fact that the economic system we have now is dysfunctional.”

“There are historic examples where a soft domination of certain states worked well. For instance the US, who dominated the Western alliance after World War II - with a giant army, an enormous population, and its globally superior economic power. This role is quite different for Germany today.”

“Germany's potential makes up about 20% of the EU's overall economic power, including Great Britain. The German army is by no means strong enough to guarantee the security of the EU's two endangered flanks - in the east and in the south. So all that remains for Germany is partnerships with its neighbours and other EU member states. Germany should stick to that role.”