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Economy Quotes

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Economy Quotes

“Here is an educational bombshell: Take from all of today's industrial nations all their industrial machinery and all their energy-distributing networks, and leave them all their ideologies, all their political leaders, and all their political organizations, and I can tell you that within six months, two billion people will die of starvation, having gone through great pain and deprivation along the way.”

“When incentive to acquire and obtain property is gone, people no longer make efforts to acquire any... Those who infringe upon property rights commit an injustice... If this occurs repeatedly, all incentives to cultural enterprise are destroyed and they cease utterly to make an effort. This leads to destruction and ruin of civilization.”

“the New Englander landed on a stony, barren tract, and a large share of his strength during two centuries has gone to force a living out of it. Hence he has come to regard economy - a necessary unpleasant quality at best - as the chief of virtues. He has cultivated habits which verge on closeness in dealing with food, and with the expression of feeling, and even - his enemies think - with feeling itself.”

“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.”