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Economic Quotes

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Economic Quotes

“World War II was fought for the abolition of racial exclusiveness, equality of nations and the integrity of their territories, liberation of enslaved nations and restoration of their sovereign rights, the right of every nation to arrange its affairs as it wishes, economic aid to nations that have suffered and assistance to them in attaining their material welfare, restoration of democratic liberties, and destruction of the Hitlerite regime.”

“AS an economic historian, I appreciate what manufacturing has contributed to the United States. It was the engine of growth that allowed us to win two world wars and provided millions of families with a ticket to the middle class. But public policy needs to go beyond sentiment and history.”

“After any disturbance (such as two world wars coinciding with a period of growing economic and monetary incomprehensibility) we find our old concepts inadequate and look for new ones. But it unfortunately happens that the troubled times which produce an appetite for new ideas are the least propitious for clear thinking.”

“We cannot escape our destiny, nor should we try to do so. The leadership of the free world was thrust upon us two centuries ago in that little hall of Philadelphia. In the days following World War II, when the economic strength and power of America was all that stood between the world and the return to the dark ages, Pope Pius XII said, 'The American people have a great genius for splendid and unselfish actions. Into the hands of America God has placed the destinies of an afflicted mankind.' We are indeed, and we are today, the last best hope of man on earth.”

“Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.”

“In every major war we have fought in the 19th and 20th centuries. Americans have been asked to pay higher taxes - and nonessential programs have been cut - to support the military effort. Yet during this Iraq war, taxes have been lowered and domestic spending has climbed. In contrast to World War I, World War II, the Korean War and Vietnam, for most Americans this conflict has entailed no economic sacrifice. The only people really sacrificing for this war are the troops and their families.”

“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.”