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Economy Quotes

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Economy Quotes

“The Occupy Wall Street collective is confused about what it wants but it wants it now! Some of the loonier demands from its independent thinkers: Striking all existing public and private debt from the books across the "entire planet"; elimination of all international borders; free college education; a guaranteed "living wage" for all regardless of employment; an end to free trade; trillions in additional spending for infrastructure and ecological restoration; and ending the fossil fuel economy.”

“We know that the only alternative to private competition is government monopoly of enterprise. We know that when government monopolizes production, distribution, and employment, it is no longer the servant of men - it is their master. And, therefore, we know that economic liberty and political liberty are inseparable parts of the same ball of wax - that we must keep them both, or we shall lose them both.”

“Capital, and the question of who owns it and therefore reaps the benefit of its productiveness, is an extremely important issue that is complementary to the issue of full employment... I see these as twin pillars of our economy: Full employment of our labor resources and widespread ownership of our capital resources. Such twin pillars would go a long way in providing a firm underlying support for future economic growth that would be equitably shared.”

“We are overdone with banking institutions, which have banished the precious metals, and substituted a more fluctuating and unsafe medium... These have withdrawn capital from useful improvements and employments to nourish idleness... These are evils more easily to be deplored than remedied.”

“Full employment is a socially hazardous goal. In effect, it aspires to restore through political expedients the pre-industrial state of toil that science, engineering, technology and modern management are pledged to overcome.”

“The owners of labor, on the other hand, are being taught, by the most powerful and well-publicized examples, that the highest rewards are not for production, but for the employment of organized power to take over a share of what others produce.”

“We must adopt reforms which will expand the range of opportunities for all Americans. We can fulfill the American dream only when each person has a fair chance to fulfill his own dreams. This means equal voting rights, equal employment opportunity and new opportunities for expanded ownership, because in order to be secure in their human rights, people need access to property rights.”

“It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke about the country's need for "an elastic currency." Since then, Congress has passed the Full Employment Act, declaring its general intention to promote "maximum employment, production, and purchasing power." But it has never directly counseled the Federal Reserve.”

“Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.”

“The backlash against women's rights would be just one of several powerful forces creating a harsh and painful climate for women at work. Reagonomics, the recession, and the expansion of a minimum-wage service economy also helped, in no small measure, to slow and even undermine women's momentum in the job market. But the backlash did more than impede women's opportunities for employment, promotions, and better pay. Its spokesmen kept the news of many of these setbacks from women. Not only did the backlash do grievous damage to working women C it did on the sly.”

“The government must nurture an eco-system where the economy is primed for growth; and growth promotes all-rounddevelopment. Where development is employment-generating ; and employment is enabled by skills. Where skills are synced with production; and production is benchmarked to quality. Where quality meets global standards; and meeting global standards drives prosperity. Most importantly, this prosperity is for the welfare of all. That is my concept ofeconomic good governance and all round development.”