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Economy Quotes

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Economy Quotes

“Psychological man may be going nowhere, but he aims to achieve a certain speed and certainty in going. Like his predecessor, the man of the market economy, he understands morality as that which is conducive to increased activity. The important thing is to keep going.”

“I believe we can do much more to adapt to the structural changes in the global economy, get high-end manufacturing back here, set up clusters of economic activity where you have, among other things, continuous retraining of people well into their middle years so they never become irrelevant to the current job market.”

“The variety of minds served the economy of nature in many ways. The Creator, who designed the human brain for activity, had insured the restlessness of all minds by enabling no single one to envisage all the qualities of the creation. Since no one by himself could aspire to a serene knowledge of the whole truth, all men had been drawn into an active, exploratory and cooperative attitude.”

“Industrial production, the flow of resources in the economy, the exertion of military effort in a war, the management of finances --all require the coordination of interrelated activities. What these complex undertakings share in common is the task of constructing a statement of actions to be performed, their timing and quantity (called a program or schedule), that, if implemented, would move the system from a given initial status as much as possible towards some defined goal”

“Industrial production, the flow of resources in the economy, the exertion of military effort in a war theater-all are complexes of numerous interrelated activities. Differences may exist in the goals to be achieved, the particular processes involved, and the magnitude of effort. Nevertheless, it is possible to abstract the underlying essential similarities in the management of these seemingly disparate systems.”

“The first essential responsibility of the state is control of the market-place: there must be some official charged with the duty of seeing that honest dealing and good order prevail. For one of the well-nigh essential activities of all states is the buying and selling of goods to meet their mutual basic needs; this is the quickest way to self-sufficiency, which seems to be what moves men to combine under a single constitution.”

“The smaller man approaching our modern banking system, which controls all issue of credit and therefore pretty well all our industrial and commercial activities, is not what the controllers of that credit call "interesting." He borrows with difficulty and upon high terms, and must pledge security out of all proportion to that which his richer rival has to put down.”

“Under the old social philosophy which had governed the Middle Ages, temporal, and therefore all economic, activities were referred to an eternal standard. The production of wealth, it distribution and exchange were regulated with a view to securing the Christian life of Christian men. In two points especially was this felt: First in securing the independence of the family, which can only be done by the wide distribution of property, in others words the prevention of the growth of a proletariat; secondly, in the close connection between wealth and public function.”

“Economic activity, especially the activity of a market economy, cannot be conducted in an institutional, juridical or political vacuum. On the contrary, it presupposes sure guarantees of individual freedom and private property, as well as a stable currency and efficient public services.”

“Normal science, the activity in which most scientists inevitably spend most all their time, is predicated on the assumption that the scientific community knows what the world is like. Normal science often suppresses fundamental novelties because they are necessarily subversive of its basic commitments.”

“A striking feature of financial service activities during the past few decades is that the financial transactions essential to the operation of the 'real' economy has become increasingly dwarfed by speculative activity.”

“A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.”

“Although population and consumption are societal issues, technology is the business of business. If economic activity must increase tenfold over what it is today to support a population nearly double its current size, then technology will have to reduce its impact twenty-fold merely to keep the planet at its current levels of environmental impact. For example, to stabilize the climate we may have to reduce real carbon emissions by as much as 80 percent, while simultaneously growing the world economy by an order of magnitude.”

“... placing economic activity in the context of the whole earth requires attention to the question of scale. Bigger is obviously not better, so the optimum scale of human economy in relation to the total economy becomes basically a question of sustainability. When the effects of the economy on the environment undercut the possibility of its own continuance, the scale is too large.”