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Economics Quotes

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Economics Quotes

“Man has existed for about a million years. He has possessed writing for about 6,000 years, agriculture somewhat longer, but perhaps not much longer. Science, as a dominant factor in determining the belief of educated men, has existed for about 300 years; as a source of economic technique, for about 150 years. In this brief period it has proved itself an incredibly powerful revolutionary force. When we consider how recently it has risen to power, we find ourselves forced to believe that we are at the very beginning of its work in transforming human life.”

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Book:The Impact of Science On Society
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“The Fascist State lays claim to rule in the economic field no less than in others; it makes its action felt throughout the length and breadth of the country by means of its corporate, social, and educational institutions, and all the political, economic, and spiritual forces of the nation, organised in their respective associations, circulate within the State.”

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Author:Benito Mussolini
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“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.”

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Author:John Kenneth Galbraith
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“Economics anxiety may be even more common than the often identified 'math anxiety,' for unlike math, which has its personal uses, economics is seen as a mysterious set of forces manipulated from above.”

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Book:Moving Beyond Words: Essays on Age, Rage, Sex, Power, Money, Muscles: Breaking the Boundaries of Gender
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“Nations are political and military entities, and so are blocs of nations. But it doesn't necessarily follow from this that they are also the basic, salient entities of economic life or that they are particularly useful for probing the mysteries of economic structure, the reasons for rise and decline of wealth. Indeed, the failure of national governments and blocs of nations to force economic life to do their bidding suggests some sort of essential irrelevance.”

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Book:Cities and the Wealth of Nations
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“There are some things in the world we can't change- gravity, entropy, the speed of light, and our biological nature that requires clean air, clean water, clean soil, clean energy and biodiversity for our health and well-being. Protecting the biosphere should be our highest priority or else we sicken and die. Other things, like capitalism, free enterprise, the economy, currency, the market, are not forces of nature, we invented them. They are not immutable and we can change them. It makes no sense to elevate economics above the biosphere.”

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Author:David Suzuki
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“We recognize the force of the argument that the effects of war under modern conditions may be felt in the economy for years and years, and that if the war power can be used in days of peace to treat all the wounds which war inflicts on our society, it may not only swallow up all other powers of Congress but largely obliterate the Ninth and the Tenth Amendments as well.”

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Author:William O. Douglas
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“The moment the idea is admitted into society that property is not as sacred as the law of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”

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Book:The Works of John Adams, Second President of the United States: With a Life of the Author, Notes and Illustrations
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“I was teasing my brother that he was penniless, homeless, jobless. Right now in his life, racism isn't the central highlighting force: it's the world of work and economics. It doesn't mean that he isn't influenced by racism, but when he wakes up in the morning the thing that's driving his world is really issues of class, economics and power as they articulate themselves.”

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Author:Bell Hooks
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“Collectivism holds that the individual has no rights, that his life and work belong to the group (to "society," to the tribe, the state, the nation) and that the group may sacrifice him at its own whim to its own interests. The only way to implement a doctrine of that kind is by means of brute force - and statism has always been the poltical corollary of collectivism.”

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Book:The Virtue of Selfishness
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“No individual or private group or private organization has the legal power to initiate the use of physical force against other individuals or groups and to compel them to act against their own voluntary choice. Only a government holds that power. The nature of governmental action is: coercive action. The nature of political power is: the power to force obedience under threat of physical injury-the threat of property expropriation, imprisonment, or death.”

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Book:Capitalism: The Unknown Ideal
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“Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.”

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Book:The Economic Consequences of the Peace: The Economist
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“It's no accident that capitalism has brought with it progress, not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.”

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Book:The Albert Einstein Collection: Essays in Humanism, The Theory of Relativity, and The World As I See It
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“If politicians were serious about day care for children, instead of just sloganizing about it, nothing they could do would improve the quality of child care more than by lifting the heavy burden of taxation that forces so many families to have both parents working.”

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Book:Controversial Essays
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“The trouble with conspiracies, even those that are to everybody's advantage in the long run, is that they are open to abuse. If manipulators really had the powers claimed, they could win the lottery every week. I prefer to point out that they could also win a Nobel Prize for discovering fundamental physical forces hitherto unknown to science.”

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Author:Richard Dawkins
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“The chief arguments that are urged against an established religion, may be used with equal force against an established charity. The dissenter submits, that no party has a right to compel him to contribute to the support of doctrines, which do not meet his approbation. The rate-payer may as reasonably argue, that no one is justified in forcing him to subscribe towards the maintenance of persons, whom he does not consider deserving of relief.”

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Book:The Proper Sphere of Government: a Reprint of a Series of Letters, Originally Published in
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“Market forces have no intrinsically moral direction, which is why, before he wrote The Wealth of Nations, Adam Smith wrote The Theory of Moral Sentiments. Ethics should precede economics. But it doesn't have to. . . . We know this because we've seen the results of capitalism without conscience: the pollution of the air we breathe, the water we drink, and the food we eat; the endangerment of workers; and the sale of dangerous products - from cars to toys to drugs. All in pursuit of ever-greater profits.”

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Author:Arianna Huffington
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