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Economy Quotes

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Economy Quotes

“Kelso's proposals do promise to free us from our morbid dependency on economic health through armament manufacture; they promise a way out of the welfare mess, out of foodstamps and ship subsidies, out of perpetual inflation, and they suggest a means of doing these things without being too disruptive of the wealth of five percent of the population who own the rest of us.”

“Of the land which the Romans gained by conquest from their neighbours, part they sold publicly, and turned the remainder into common; this common land they assigned to such of the citizens as were poor and indigent, for which they were to pay only a small acknowledgment into the public treasury. But when the wealthy men began to offer larger rents, and drive the poorer people out, it was enacted by law that no person whatever should enjoy more than five hundred acres of ground.”

“I mean the whole economy just comes to a grinding halt. Competence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. Indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing you think about. And the oxygen has been sucked out of the credit markets.”

“There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.”