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Economy Quotes

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Economy Quotes

“Capitalism had arisen through the misuse and exaggeration of certain rights, notably the right of property - the basis of economic freedom - and the right of contract, which is one of the main functions of economic freedom. Therefore, even under Capitalism, so long as the old principles were remembered it was possible to recall the principles whereby Society had once been sane and well ordered.”

“U.S. labor leaders will realize that automation can multiply man's wealth far more rapidly than it is multiplying at present and that automation will leave all men free to search and research... Realizing the direct competition with foreign industry on a straight labor basis will mean swiftly decreasing wages per hour and longer hours and decreasing buying power of the public.”

“On the basis of his work each person is fully entitled to consider himself a part owner of the great workbench at which he is working with everyone else. A way toward that goal could be found by associating labor with the ownership of capital joint ownership of the means of work, sharing by the workers in the management and/or profits of businesses, so-called shareholding by labor, etc.”

“If capital produces most of the economy's wealth and income is distributed on the basis of productive input, the individual can hardly reach his goal - an affluent level of income - solely by means of his labor.”

“Personalism's insistence that only personality-finite and infinite-is ultimately real strengthened me in two convictions: it gave me metaphysical and philosophical grounding for the idea of a personal God, and it gave me a metaphysical basis for the dignity and worth of all human personality.”

“If the world is made to furnish each individual with the means of livelihood and the instruments for his growth and progress, each man has therefore the right to find in the world what is necessary for himself. The recent Council reminded us of this: "God intended the earth and all that it contains for the use of every human being and people. Thus, as all men follow justice and unite in charity, created goods should abound for them on a reasonable basis."”

“We believe this approach (progress sharing) is a rational approach because you cooperate in creating the abundance that makes the progress possible, and then you share that progress after the fact, and not before the fact. Profit sharing would resolve the conflict between management apprehensions and worker expectations on the basis of solid economic facts as they materialize rather than on the basis of speculation as to what the future might hold.”

“Wealth brings with it its own checks and balances. The basis of political economy is noninterference. The only safe rule is found in the self-adjusting meter of demand and supply. Open the doors of opportunity to talent and virtue and they will do themselves justice, and property will not be in bad hands. In a free and just commonwealth, property rushes from the idle and imbecile to the industrious, brave and persevering.”

“Particularly when the war power is invoked to do things to the liberties of people, or to their property or economy that only indirectly affect conduct of the war and do not relate to the engagement of the war itself, the constitutional basis should be scrutinized with care. ... I would not be willing to hold that war powers may be indefinitely prolonged merely by keeping legally alive a state of war that had in fact ended. I cannot accept the argument that war powers last as long as the effects and consequences of war for if so they are permanent -- as permanent as the war debts.”

“It is one of the many ironies of this period that, at a time when the intelligentsia were excoriating Mellon for tax-evasion, and contrasting the smooth-running Soviet planned economy with the breakdown in America, he was secretly exploiting the frantic necessities of the Soviet leaders to form the basis of one of America's most splendid public collections”

“Prosperity is an essential partner in civilization itself. It is the basis of leisure, charity, and a hopeful outlook on life. It is the means for conquering poverty at the lowest rung of society, the basis on which children and the elderly are cared for, the foundation for the cultivation of arts and learning. Crush an economy and you crush civilization.”