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Economic Quotes

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Economic Quotes

“The development of the doctrine of international arbitration, considered from the standpoint of its ultimate benefits to the human race, is the most vital movement of modern times. In its relation to the well-being of the men and women of this and ensuing generations, it exceeds in importance the proper solution of various economic problems which are constant themes of legislative discussion and enactment.”

“The faith of a church or of a nation is an adequate faith only when it inspires and enables people to give of their time and energy to shape the various institutions - social, economic, and political - of the common life.”

“One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies.”

“I think it's very important to remember that so much of the work that gets done between countries is not done at the level of presidents, but is done within various agencies, whether it's law enforcement or economic ministries. And when they establish relationships and systems of communications and shared projects and shared visions, those structures continue even after any particular president is gone. It builds trust and understanding between countries that are critically important.”