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Economic Quotes

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Economic Quotes

“If you think about it, candidate Obama, Sen. Obama, was running on sort of long-run economic issues, like restoring prosperity to the middle class, dealing with the perennial problem of health care in the United States. He talked a lot about the budget deficit, about the need to transition to clean energy.”

“.......the poor of the world cannot be made rich by redistribution of wealth. Poverty can't be eliminated by punishing people who've escaped poverty, taking their money and giving it as a reward to people who have failed to escape. Economic leveling doesn't work. Whether we call it Marxism, Progressive Reform, or Clintonomics, the result is the same slide into the stygian pit. Communists worship Satan; socialists think perdition is a good system run by bad men; and liberals want us to go to hell because it's warm there in the winter.”

“The free enterprise concept inherent in the economic model of capitalism should mean common people, or lower and middle class wage-earners, have greater potential to rise up and gain financial independence. In reality, however, free enterprise all too often leads to an almost total lack of government regulation that in turn allows the global elite to run amuck in Gordon Gecko-style financial coups.”

“Overconsumption is a "cancer eating away at our spiritual vitals." It cuts the heart right out of our compassion. It distances us from the great masses of broken bleeding humanity. It converts us into materialists. We become less able to ask moral questions. For example, just because we have the economic muscle to buy up vast amounts of the world's oil, does that give us the right to do so? When the poor farmer of India is unable to buy a gallon of gasoline to run his simple water pump because the world's demand has priced him out of the market, who is to blame?”

“Secretary of state Colin Powell himself eloquently pointed out the many ways to get at the root of this problem... economic, diplomatic, legal and political, as well as military. A rush to launch precipitous military counterattacks runs too great a risk that more innocent men, women and children will be killed. I could not vote for a resolution that I believe will lead to such an outcome.”

“It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.”

“Anyone who has actually had to take responsibility for consequences by running any kind of enterprise whether economic or academic, or even just managing a sports team is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.”

“Despite the Internet 's origin in the late 1960s as a government sponsored means of communication between the Department of Defense, private industry, and academia, it has been at its best and generated the greatest economic, social, and technological benefits since it was 'liberated' by the hordes of 'geeks' who were originally hired to run it by employers who were not themselves conversant with computers, and couldn't tell when their employees were exchanging official traffic or trading dirty jokes and recipes for marijuana brownies.”

“The dynamic character of China's nonstatist economic transformation, including its social openness to the rest of the world, is not mutually compatible in the long run with a relatively closed and bureaucratically rigid Communist dictatorship.”

“I still believe that, in the long run, the aggregate of the decisions of individual businessmen, exercising individual judgment in a free economy, even if often mistaken, is likely to do less harm than the centralized decisions of a Government; and certainly the harm is likely to be counteracted faster. As I said earlier in this debate, our economic medicine may be painful but it is fast and powerful because it can act freely.”

“The Bush Administration believes the Kyoto protocol could damage our collective prosperity, and in so doing, actually put our long-term environmental health at risk. Fundamentally, we believe that the protocol both will fail to significantly reduce the long-term risks posed by climate change and, in the short run, will seriously impede our ability to meet our energy needs and economic growth.”

“But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.”

“For most Black people there is still poverty and desperation. The Ghettos still exist, and the proportion of Blacks in prison is still much greater than Whites. Today, there is less overt racism, but the economic injustices create an "institutional racism" which exists even while more Blacks are in high places, such as Condoleeza Rice in Bush's Administration and Obama running for President.”

“The worst of this ever growing cancer of Statism [ie big 'paternal' government - socialism, communism and fascism] is its moral effect. The country is rich enough to stand its frightful economic wastage for a long time yet, and still prosper, but it is already so poverty-stricken in its moral resources that the present drain will quickly run them out.”

“The transformation of forests into deserts, fertile earth into sunbaked concrete, and running rivers into silted floodwaters show that only through care for the environment can the livelihoods of those most dependent on it be sustained. We cannot allow economic and environmental concerns to be played off against each other.”

“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.”

“Materialism is not fundamentally an economic problem, but a cultural one... a spiritual issue. It runs to the depths of our souls, and, for this reason, needs to be understood less in terms of budgets or fiscal cycles and more in terms of where we locate the sacred, of where we search for meaning and transcendence, and of how we think about justice, equality, and the future of our world.”

“The stupidity of the average man will permit the oligarch, whether economic or political, to hide his real purposes from the scrutiny of his fellows and to withdraw his activities from effective control. Since it is impossible to count on enough moral goodwill among those who possess irresponsible power to sacrifice it for the good of the whole, it must be destroyed by coercive methods and these will always run the peril of introducing new forms of injustice in place of those abolished.”

“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.”

“I'm a big believer in getting money from where the money is, and the money is in Washington. I learned from running the Olympics that you can get money there to help build economic opportunities. We actually got over $410 million from the federal government; that is a huge increase over anything ever done before. We did that by going after every agency of government. That kind of creativity I want to bring to everything we do (in Massachusetts).”

“When we cut off access to certain parts of our cities to people on bikes or in wheelchairs, we're not only doing economic damage, we're also doing culture damage. New York is the culture capital of the world because people are running into each other on the street all the time. They are forced to engage in creativity and problem-solving.”

“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.”