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Economy Quotes

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Economy Quotes

“Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.”

“There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much better been left to another Government agency or the Congress to attain. The country could have had lower interest rates without sacrificing anything else.”

“In the present state of human society, however, We deem it advisable that the wage-contract should, when possible, be modified somewhat by a contract of partnership, as is already being tried in various ways to the no small gain both of the wage-earners and of the employers. In this way wage-earners are made sharers in some sort in the ownership, or the management, or the profits.”

“The ultimate consequences of the individualist spirit in economic life are those which you yourselves, Venerable Brethren and Beloved Children, see and deplore: Free competition has destroyed itself; economic dictatorship has supplanted the free market; unbridled ambition for power has likewise succeeded greed for gain; all economic life has become tragically hard, inexorable, and cruel.”

“We hear a constant clamor for rights, rights, always rights, but so very little about responsibility. And we have forgotten God. The need now is for selflessness, for a spirit of sacrifice, for a willingness to put aside personal gains for the salvation of the whole Western world.”

“It should be the privilege of every worker to take advantage of all the improved methods of working that relieve him from the tedium and fatigue of purely mechanical toil, for by this means he gains leisure for the thought necessary to working out his designs, and for the finer touches that the hand alone can give. So long as he remains master of his machinery it will serve him well, and his power of artistic expression will be freed rather than stifled by turning over to it work it is meant to do.”

“Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That would slow down economic growth. It's not necessarily helpful to the economy. Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged.”