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Economics Quotes

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Economics Quotes

“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.”

“Unlike the Marxists, the Nazis did not advocate public ownership of the means of production. They did demand that the government oversee and run the nation's economy. The issue of legal ownership is secondary; what counts is the issue of control. Private citizens, therefore, may continue to hold titles to property-so long as the state res...erves to itself the unqualified right to regulate the use of their property.”

“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.”

“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.”

“Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.”

“Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.”

“Even as a young man, Vito Corleone became known as a "man of reasonableness." He never uttered a threat. He always used logic that proved to be irresistible. He always made certain that the other fellow got his share of profit. Nobody lost. He did this, of course, by obvious means. Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.”

“Tariffs, government contracts, naval and military spending, nationalized industries, tax policy, social welfare, the legal privileging of labor unions were among the means at the disposal of the governing class to exploit the public at large for the benefits of its various clienteles.”

“We still have a great amount of work to do in social development, including resolving one of the biggest challenges we face in this area, namely, reducing the gap between high-income earners and people, citizens of our country, who are still living on very modest means indeed. But we cannot, of course, adopt the solution used 80 years ago and simply confiscate the riches of some to redistribute among others. We will use completely different means to resolve this problem, namely, we will ensure good economic growth.”

“The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand to get a better view, promoting the others behind them to stand. Once enough people stand, everyone has to stand, which means no one is getting a better view, while everyone has become more uncomfortable.”

“Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice. When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism - with a separation of economics, in the same way and for the same reasons as a separation of state and church.”

“"The ultimate recession": a recession caused not by failed regulation and bankers' greed, but by very high oil prices, food and water shortages, disappearing forests, accelerating climate change, forced migration and mass civil disruption...The long and the short of it, unfortunately, is this: more politicians still believe that economic recovery depends on continuing to live beyond our means (financially and ecologically) than on learning to live within our means. And that's why the ultimate "Perfect Storm" recession still looms on the horizon”

“What would it mean if there were a theory that explained everything? And just what does "everything" actually mean, anyway? Would this new theory in physics explain, say the meaning of human poetry? Or how economics work? Or the stages of psychosexual development? Can this new physics explain the currents of ecosystems, or the dynamics of history, or why human wars are so terribly common?”

“Thirty years ago, if you said the country was living beyond its means, people would have thought about economics. Now, if you talk about the country, or the planet living beyond its means, you think about the environment. We are taking out more than we are giving back. We are consuming energy, water, and other natural resources in a way that is leading to huge and often irreversible damage to the planet. So too are most other developed nations. And so too will China and India if they follow the same path of economic development as us”