“Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.” TryingBigsLastsResultsMistakeEconomyToo MuchHigherLowsEconomicsThreatInvestingRisingInflationBankersPrintingRoller CoasterCoastersBig MistakeHighs And LowsContractions Author:Milton Friedman
“The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.” IfsWorldRealEnoughUnderstandingInterestEconomyWorstEssentialsLowsEconomicsRateFinancialZeroMessed UpInterest RateWorld EconomyFinancial System Author:Paul Krugman
“If anything is evident about people who manage money, it is that the task attracts a very low level of talent, one that is protected in its highly imperfect profession by the mystery that is thought to enfold the subject of economics in general and of money in particular.” PeopleIfsLevelsMoneyMysterySubjectsTalentParticularLowsEconomicsTasksProfessionManageImperfectProtectedEvidentLow Level Book:Money: Whence It Came, Where It Went Source: Money: Whence It Came, Where It Went
“Good government cannot be found on the bargain-counter. We have seen samples of bargain-counter government in the past when low tax rates were secured by increasing the bonded debt for current expenses or refusing to keep our institutions up to the standard in repairs, extensions, equipment, and accommodations. I refuse, and the Republican Party refuses, to endorse that method of sham and shoddy economy.” GovernmentPastFoundPartyEconomyRepublicanTaxesLowsStandardsEconomicsMethodInstitutionsRateCurrentsRefuseDebtExpensesExtensionsRepublican PartyEquipmentBargainsSampleSecuredAccommodations Author:Calvin Coolidge
“The rate of profit... is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin.” CountryPoorRichHighestLowsEconomicsRateProfitRuinsPoor Countries Author:Adam Smith
“Though the poorest Americans voted for Hillary Clinton, many relatively wealthy people voted for Trump and generally it's a mistake to think that economics explains Trump. The US is doing relatively well, the economy has significantly recovered since 2008, unemployment rates are low. I would say rather that his appeal to the working class was cultural: "I'll bring back the kinds of jobs your fathers had," and, by implication, the whiter, simpler post-war world when America had no real economic competition.” PeopleThinkingWorldWellsKindWarRealJobsAmericaFatherMistakeClassEconomyEconomicTrumpLowsEconomicsCompetitionClintonRatePostsAppealsWealthyWorking ClassUnemploymentImplicationsPoorestPost WarUnemployment RateEconomic Competition Author:Anne Applebaum
“The basic prescription for preventing deflation is therefore straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.” WayFirstsUseBusinessPrinciplesSupportEconomyTroubleEconomicPolicyNeededLowsResourcesEconomicsSpendingBest WayFinanceConsistentStableInflationStraightforwardMonetaryPrescriptionsPreventingUtilizationDeflationFiscal PolicyEconomic Resources Author:Ben Bernanke
“The greatest country, the richest country, is not that which has the most capitalists, monopolists, immense grabbings, vast fortunes, with its sad, sad soil of extreme, degrading, damning poverty, but the land in which there are the most homesteads, freeholds - where wealth does not show such contrasts high and low, where all men have enough - a modest living- and no man is made possessor beyond the sane and beautiful necessities.” MenDoeMadeCountryEnoughShowsBeautifulWealthPovertyLandLowsEconomicsFortuneExtremesInequalitySoilCapitalistContrastSaneImmenseModestDegradingSocial ClassGrabbingHighs And LowsEconomic InequalityWealth InequalityEconomic Equality Author:Walt Whitman
“Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.” PhilosophyMovingPoliticalDifferencesMovementHigherLowsEconomicsResponseGoodsGenocide Book:The Ethics of Competition Source: The Ethics of Competition
“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
“RE: GSEs like Freddie Mac & Fannie Mae: "creditors will continue to underprice the risk-taking of these financial institutions, overfund them, and fail to provide effective market discipline Facing prices that are too low, systemically important firms will take on too much risk."” ImportantPhilosophyPoliticalToo MuchFailingRiskDisciplineLowsEconomicsInstitutionsFinancialFirmMacsRisk-takingCreditorsFinancial InstitutionsMae Author:Gary H. Stern
“Government, on their part, are much disposed to favor the establishment of these large companies, and to give them privileges to the detriment of their rivals, and of the public, with the expectation of receiving from them loans, either gratuitous or at a low rate which these never refuse. It is thus that the one sells its protection and the other buys it; and this is already a very great evil.” GivingPhilosophyGovernmentPoliticalEvilCompanyLowsExpectationsEconomicsSellsRatePrivilegeRefuseProtectionFavorsEstablishmentReceivingLoanRivalsLarge Companies Author:Antoine Destutt de Tracy
“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
“The single biggest issue that I'm very sensitive to is inflation. I'm very concerned that this extended period where the interest rates were quite low and stimulated a lot of activity could breed inflation and create a problem for us.” ProblemInterestEconomyIssuesPeriodsActivityLowsConcernedEconomicsRateSensitiveInflationInterest Rate Author:Sam Zell
“The rewards that will flow from a successful shift to a low carbon economy are high. Neither governments nor business can afford to let these opportunities pass them by” GovernmentOpportunityBusinessEconomySuccessfulLowsEconomicsFlowManagementRewardsCarbon Author:Margaret Beckett
“Only business can build a low-carbon economy. Business is all about seeing ideas and growing them. Businesses have the resources, the people, the technical skills to make things happen - and they have the channels to market” PeopleIdeasHappensBusinessEconomyGrowingSeeingSkillsLowsResourcesEconomicsManagementThings HappenCarbonMake Things HappenTechnical Skills Author:Tom DeLay
“This is the welfare generation, and that is incredibly sad. That will be judged in history as being far worse, I believe, than the stolen generation, because we are literally losing thousands and thousands of our indigenous brothers and sisters to the effects of welfare – drugs, gunja, low morale, alcoholism. I see it everyday and it can stop. The solution is education, training and a guaranteed opportunity.” BelieveOpportunityI BelieveBusinessGenerationsEffectsBrotherDrugLosingSolutionsLowsTrainingEconomicsEverydayWelfareJudgedBrothers And SistersStolenAlcoholismIndigenousMorale Author:Andrew Forrest
“It's just economics 101: When it's free to pollute, you get more pollution. But when there's a price to pay, industry will have an incentive to find low-cost carbon solutions.” EnergyPayIndustryCostSolutionsLowsEconomicsPollutionCarbonIncentives Author:Fred Krupp
“But can we please stop insisting that if low-wage workers earn a little bit more, unemployment will skyrocket and the economy will collapse? There is no evidence for it. The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.” IfsLittlesMadeBitsPoorEconomyRichPleaseLittle BitLowsEvidenceEconomicsClaimsIncreaseWorkersNonsenseCollapseMinimumUnemploymentBetter OffGet RichMinimum WageInsidiousInsistingTrickle DownTrickle Down Economics Author:Nick Hanauer
“The 20th Century approach to economics, resource depletion and over-consumption means we boom and bust until we bust more than we boom; that is precisely what is happening. In a low growth economy, the true meaning of resource efficiency in business and in everything we do is essential” MeanGrowthEconomyCenturyEssentialsApproachLowsHappeningsResourcesEconomicsConsumptionEfficiency20th CenturyTrue MeaningResource Depletion Author:Phil Harding