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Economics Quotes

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Economics Quotes

“It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.”

Years Two Sides Economic Republican Taxes Hundred Economics Paid Bills Clinton Raised Debt Twelve Expansion National Debt Supply Side Economics

Book:Straight Talk from the Heartland: Tough Talk, Common Sense, and Hope from a Former Conservative

Source: Straight Talk from the Heartland: Tough Talk, Common Sense, and Hope from a Former Conservative

“To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.”

Want Mean Ends Suffering Evil Economics Crisis Productions Credit Cures Deception Combat Expansion Severe Banking Procedures Very Mean Misdirection

Author:Friedrich August von Hayek

“Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.”

“Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole house or nothing at all. In so laying down its life welfare economics may be able to contribute some of its insights and analytical methods to a much broader evaluative analysis of the whole social process.”

May Whole Seems Able House Social Process Ethics Economics Method Mere Insight Welfare Analysis Expansion Verge Social Science Porch Laying Down

Author:Kenneth E. Boulding

“An industrial system predicated on the delusion of limitless expansion will, in time, consume its own basis of support.”

Support Economics Bases Delusion Expansion Limitless

Book:Thinking green!: essays on environmentalism, feminism, and nonviolence

Source: Thinking green!: essays on environmentalism, feminism, and nonviolence

“The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope.”

Long Might School Economics Warning Expansion Inflation Monetary Hyper Mugabe

Author:Vince Cable

“However little president Obama knows or cares about economics, he knows a lot about politics - and especially political rhetoric. 'High-speed rail' is simply another set of loft words to justify continued expansion of government spending. So are words like 'investment in education' or 'investment' in any number of other things, which serves the same political purpose.”

“The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters.”

States Law Turns Freedom Forever Democracy Goes On Limits Economics Libertarian Expansion Turn-on

Author:Llewellyn Rockwell

“The worst thing that will probably happen-in fact is already well underway-is not energy depletion, economic collapse, conventional war, or the expansion of totalitarian governments. As terrible as these catastrophes would be for us, they can be repaired in a few generations. The one process now going on that will take millions of years to correct is loss of genetic and species diversity by the destruction of natural habitats. This is the folly our descendants are least likely to forgive us.”

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”

Should Mean Results Liberty Economic Involved Economics Crisis Finals Credit Alternatives Collapse Currency Expansion Avoiding Catastrophe Abandonment

Book:Human action: a treatise on economics

Source: Human action: a treatise on economics

“The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters. And that's beginning to happen. More than six decades of hard work for American liberty beginning with the Old Right opposition to the Roosevelt Revolution and continuing with the Mises Institute, is beginning to bear fruit.”

“In fact, I'd say that the sources of the economy's expansion from 2003 to 2007 were, in order, the housing bubble, the war, and - very much in third place - tax cuts.”

War Philosophy Facts Political Order Economy Cutting Source Taxes Economics Thirds Bubbles Expansion Housing Tax Cuts Third Place Housing Bubble

Author:Paul Krugman

“One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.”

“For years I have made the point that progress in winding back economic slack is made not by high growth in any individual year, but by maintaining an expansion over a sustained period.”

Years Made Individual Growth Economy Progress Economic Periods Economics Expansion Maintaining Business Growth

Author:Ian Macfarlane