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Economy Quotes

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Economy Quotes

“Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.”

States Shows Levels Economy Clear Example Particular Demand Concepts Dues Settling Labour Unemployment Equilibrium Market Economy Keynes Market Failure

Author:Paul Ormerod

“Justice is the constant and eternal purpose that renders to each his due.”

Purpose Politics Justice Economy Eternal Constant Dues Liberalism

Author:Justinian I

“No vicarious charity can substitute for justice which is due as an obligation and is wrongfully denied.”

Wisdom Politics Justice Economy Charity Dues Obligation Liberalism Substitutes Denied Vicarious

Book:On reconstructing the social order: (Quadragesimo anno)

Source: On reconstructing the social order: (Quadragesimo anno)

“To each, therefore, must be given his own share of goods, and the distribution of created goods, which, as every discerning person knows, is laboring today under the gravest evils due to the huge disparity between the few exceedingly rich and the unnumbered propertyless, must be effectively called back to and brought into conformity with the norms of the common good, that is, social justice.”

Source: On reconstructing the social order: (Quadragesimo anno)

“Some years ago a top Ford official was showing the late Walter Reuther through the very automates plant in Cleveland, Ohio and he said to him jokingly, "Walter, you'll have a hard time collecting union dues from these machines." and Walter said, "you are going to have more trouble trying to sell automobiles to them." Both of them let it stop there. There was a logical answer to that ... the owners of the machines could buy automobiles and if you increase the number of owners you increase the number of consumers.”

“Energy markets can be thought of as suffering from appendicitis due to fossil fuel subsidies. They need to be removed for a healthy energy economy.”

Needs Suffering Energy Business Economy Healthy Climate Dues Fuel Fossils Fossil Fuel Subsidies

Author:Fatih Birol

“I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions.”

Problem Hands Certain Values Economy Conviction Dues Our Time Neglect Crucial Economist Timidity

Author:Friedrich August von Hayek

“Some people say that the West has a cruel history. These people also may see the achievements of Western countries - in terms of the economy, education, health, and social achievements - as a result of exploitation of poorer countries, including Arab countries. Western nations get rich by using resources such as Arab oil. Meanwhile, the countries supplying them raw materials remain poor. Due to such injustices, jealousies are created.”