“Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.” Has BeensIdeasPhilosophyGovernmentPoliticalPresidentStepsCuttingObjectsHigherRepublicanTaxesLowsEconomicsOrganizationTradeUnionsClintonWorkersCreditIncomeEmploymentBarriersMinimumUnemploymentIncome TaxMinimum WagePresident ClintonLow IncomeTrade Offs Author:Paul Krugman
“I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.” NeedsGivingLongHas BeensEnoughPhilosophyFactsFacesPoliticalInterestCuttingPolicyEconomicsMovedInvestmentRateExcuseAlternativesMakersBubblesAlways BelieveMomentumRecessionsInterest RateCentral BanksPolicy MakersDownturn Author:Paul Krugman
“The prudential regulation that I have put in place has been absolutely critical. The fiscal policy which we have put in place has been absolutely critical and if people looked at Australia now turn its back on economic reform, which of course industrial relations rollback or throwback would be, let me tell you, that would really start affecting confidence.” PeopleIfsHas BeensWould BeTurnsCoursesEconomyEconomicPolicyEconomicsLet MeRelationCriticalReformAustraliaRegulationFiscal PolicyThrowbackEconomic Reforms Author:Peter Costello
“For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.” YearsHas BeensPastThreeStrongGrowthInterestEconomyShareEconomicLowsEconomicsRateAverageProfitCombinationRisingThree YearsEquityInflationBeneficialEconomic GrowthRatiosInterest RateBusiness GrowthShare Price Author:Ian Macfarlane
“We all need a story. It just turns out that the story we have been told for years - that people are naturally and primarily competitive and self-interested and that life is best shaped around that bleak fact - is bunkum” PeopleNeedsYearsHas BeensSelfFactsStoriesLife IsTurnsBusinessEconomicsManagementBleak Author:Ed Mayo
“I can't resist telling you that when the Vienna Economics Institute celebrated its centennial, many years ago, they invited, as their keynote speaker, my father [John Kenneth Galbraith]. The leading economists of the Austrian school- including von Hayek and von Haberler - returned for the occasion. And so my father took a moment to reflect on the economic triumphs of the Austrian Republic since the war, which, he said, "would not have been possible without the contribution of these men." They nodded - briefly - until it dawned on them what he meant. They'd all left the country in the 1930s.” MenYearsHas BeensSaidI CanWarCountryMomentsSchoolFatherLeftEconomicYears AgoEconomicsIncludingLibertarianOccasionsTriumphContributionRepublicSpeakersEconomistInvitedInstitute1930sViennaHayekKennethCentennialVon Hayek Author:James K. Galbraith
“What I have been trying to remind people of for the past 40 years is that you can’t operate an entire conventional system, whether it’s economics, business or the way we live and surround ourselves, what we eat, without recognizing that there are severe negative externalities that are not being accounted for.” PeopleWayTryingYearsHas BeensPastNegativeEconomicsSurroundConventionalSevereRecognizingExternalities Author:Prince Charles
“David Boaz has been my guide to the history, economics, and politics of freedom for years.” YearsHas BeensEconomicsGuides Author:John Stossel
“Don't let anybody tell you it's corporations and businesses that create jobs.” KnowsHas BeensJobsTheoryEconomicsCorporationsObnoxiousTrickle DownTrickle Down Economics Author:Hillary Clinton
“Each step in life has been another step in an area that was a challenge, that is highly satisfying and that gives you a great sense of pride afterwards.” GivingHas BeensChallengesBusinessStepsPrideAreasEconomicsSatisfyingSteps In Life Author:Graeme Samuel
“Government control of the economy, no matter in whose behalf, has been the source of all the evils in our industrial society -- and the solution is laissez-faire capitalism, i.e., the abolition of any and all forms of intervention in production and trade, the separation of State and Economics, in the same way and for the same reasons as the separation of Church and State.” WayHas BeensMatterStatesReasonGovernmentFormEvilChurchEconomySourceSolutionsCapitalismEconomicsTradeProductionsSeparationBehalfInterventionChurch And StateSeparation Of Church And StateAbolitionLaissez FaireLaissez Faire Capitalism Author:Ayn Rand