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Economics Quotes

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Economics Quotes

“Entrepreneurial creation is the generation, de novo, of novelty and surprise- freedom of choice originating in the world of ideas, and imagination beyond all concern with chemicals. The contrary view- that all ideas are determined by material relationships- is the materialist superstition.”

“We must seek support in the moral values that have ensured the progress of our civilization. Honesty and hard work, responsibility and faith in our strength are bound to bring us success. There should be no place for despondency. The crisis can and must be fought by uniting our intellectual, spiritual and material resources.”

“[A] private property regime makes people responsible for their own actions in the realm of material goods. Such a system therefore ensures that people experience the consequences of their own acts. Property sets up fences, but it also surrounds us with mirrors, reflecting back upon us the consequences of our own behavior.”

“There is a deeper truth expressed in the unity of the United States. Implicate in the union of our country is the union of all people. All people are essentially one. The world is interconnected not only on the material level of economics, trade, communication, and transportation, but innerconnected through human consciousness, through the human heart, through the heart of the world, through the simply expressed impulse and yearning to be and to breathe free.”

“Economic development over the past two centuries has taken most of humanity from lives that were brutal, ignorant and short, to personal health and security, material comfort and knowledge that were unknown to the elites of the wealthiest and most powerful societies in earlier times.”

“Without an acquaintance with chemistry, the statesman must remain a stranger to the true vital interests of the state, to the means of its organic development and improvement; ... The highest economic or material interests of a country, the increased and more profitable production of food for man and animals, ... are most closely linked with the advancement and diffusion of the natural sciences, especially of chemistry.”

“The general struggle for existence of animate beings is not a struggle for raw materials, these for organisms are air water & soil, all abundantly available, nor for energy which exists in plenty in the sun and any hot body in the form of heat, but rather a struggle for entropy, which becomes available through the transition of energy from the hot sun to the cold earth.”

“The real wealth of a nation is its people. And the purpose of development is to create an enabling environment for people to enjoy long, healthy, and creative lives. This simple but powerful truth is too often forgotten in the pursuit of material and financial wealth.”