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Economic Quotes

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Economic Quotes

“In the course of his long, turbulent career, W. E. B. Du Bois attempted virtually every possible solution to the problem of twentieth-century racism...scholarship, propaganda, integration, national self-determination, human rights, cultural and economic separatism, politics, international communism, expatriation, third world solidarity.”

“The economy has settled into a sustainable, self-reinforcing growth path, .. All major categories of the economy have contributed to economic growth. Now that businesses have begun to add to payrolls, the current expansion is self-reinforcing. Only external shocks, such as terrorist attacks or a surge in oil prices, could derail the recovery.”

“It's important that we recognize how extreme the Republicans are in almost every case and how against our self-interest it is to vote for them whether or not we are disappointed with the current crew. At least they believe in the Constitution. At least they have an idea of economic justice. The Republicans are devoted to creating more rich folks.”

“This was 1990, the year that communism died in Europe and it seemed strange to me that in all the words that were written about the fall of the iron curtain, nobody anywhere lamented that it was the end of a noble experiment. I know that communism never worked and I would have disliked living under it myself but none the less it seems that there was a kind of sadness in the thought that the only economic system that appeared to work was one based on self interest and greed.”

“In the background lurks the scourge of international terrorism. There are people exercising power in a few countries and leading political factions in others who seem to be moved by narrow, brutal and irrational impulses. Their view of their own self-interest is so blinkered as to leave no space for purely human values, for peaceful negotiation or for economic advancement. They are bent on the destruction of the established order and of civilised ways of doing business. They must never be allowed to succeed.”

“The raw fact is that every successful example of economic development this past century – every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living – has taken place via globalization, that is, by producing for the world market rather than trying for self-sufficiency.”

“Utilitarianism had found [in Samuel Smiles' Self-Help] its portrait gallery of heroes, inscribed with a vigorous exhortation to all men to strive in their image; this philistine romanticism established the bourgeois hero-prototype the penniless office-boy who works his way to economic fortune and this wins his way into the mercantile plutocracy.”

“A host of positive psychological changes inevitably will result from widespread economic security. The dignity of the individual will flourish when the decisions concerning his life are in his own hands, when he has the means to seek self-improvement. Personal conflicts among husbands, wives and children will diminish when the unjust measurement of human worth on the scale of dollars is eliminated.”

“Our Founding Fathers well understood that concentrated power is the enemy of liberty and the rights of man. They knew that the American experiment in individual liberty, free enterprise and republican self-government could succeed only if power were widely distributed. And since in any society social and political power flow from economic power, they saw that wealth and property would have to be widely distributed among the people of the country. The truth of this insight is immediately apparent.”

“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,--if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”

“In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.”

“The philanthropic tradition is older than democracy, older than Christianity, and older than higher education. It gives form and purpose to personal and social life that cannot be provided by the self-interest of economic enterprise or required by the mandate of political institutions.”

“The myth of self-sufficiency blinds us to the workings of other forces in family life. For families are not now, nor were they ever, the self-sufficient building blocks of society, exclusively responsible, praiseworthy, and blamable for their own destiny. They are deeply influenced by broad social and economic forces over which they have little control.”

“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.”

“If the self-discipline of the free cannot match the iron discipline of the mailed fist, in economic, political, scientific, and all the other kinds of struggles, as well as the military, then the peril to freedom will continue to rise.”

“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.”

“In many inner cities, there are issues of less economic stability, poorer education, community centers being stripped away, arts being removed from the school system leaving many children imbalanced, isolated from their most powerful self... the independent thinker, the creator, the dreamer often leaving children more susceptible to other harmful things out of boredom or feelings of rejection.”

“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 .”