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Economics Quotes

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Economics Quotes

“Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy.”

“We can't build a safer world with honorable intentions and good will alone. Achieving the fundamental goals our nation seeks in world affairs - peace, human rights, economics progress national independence and international stability - means supporting our friends and defending our interests.”

Source: Building peace through strength: August 23, 1983

“Democracy cannot survive where there is such uniformity that everyone wears exactly the same intellectual uniform or point of view. Democracy implies diversity of outlook, a variety of points of view on politics, economics, and world affairs. Hence the educational ideal is not uniformity but unity, for unity allows diversity of points of view regarding the good means to a good end.”

World Mean Ends Views Democracy Diversity Intellectual Ideals Economics Unity Affair Educational Point Of View Variety Uniforms Outlook Uniformity World Affairs

Author:Fulton J. Sheen

“Long run is a misleading guide to current affairs. In the long run we are all dead.”

Long Running Economics Affair Currents Guides Long Runs Economist Mislead Current Affairs Future Planning

Author:John Maynard Keynes

“This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.”

Ifs Long Running Past Science Death Easy Ocean Economics Tasks Seasons Affair Currents Storm Guides Useless Flats Long Runs Economist Mislead Current Affairs

Author:John Maynard Keynes

“The direction of all economic affairs is in the market society a task of the entrepreneurs. Theirs is the control of production. They are at the helm and steer the ship. A superficial observer would believe that they are supreme. But they are not. They are bound to obey unconditionally the captain's orders.”

“All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of affairs which - from the point of view of their authors and advocates valuations - is less desirable than the previous state of affairs which they were designed to alter.”

Ends States Views Liberty Failing Economic Achieve Economics Affair Point Of View Variety Supporter Desirable Interference Valuation

Book:Bureaucracy

Source: Bureaucracy

“Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.”

Humans Ideas Reason Courses Force Common Liberty Moral Economic Materials Needed Economics Affair Determine Socialism Common Sense Productive Trends Despotism Moral Courage

Book:Planned Chaos

Source: Planned Chaos

“The fact throughout history is that whenever government dominates the economic affairs of its citizenry, a free society is eroded, then destroyed, and a minority government ensues. Personal liberty without economic liberty is an absolute contradiction; the one cannot exist without the other.”

Facts Government Liberty Economic Economics Absolutes Affair Libertarian Destroyed Contradiction Minorities Libertarianism Free Society Citizenry Personal Liberty Minority Government

Author:William E. Simon

“This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics.”

Writing Liberty Issues Essentials Economics Affair Productions Contemporary Contribution Inability Pseudo Engels

Author:Ludwig von Mises