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Economy Quotes

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Economy Quotes

“We must surely appear to the world as exactly what we are: a nation that organizes its economy around consuming twice as much oil as it produces, and around the profligate wastefulness of the wars and campaigns required to defend such consumption. In recent years we have defined our national interest largely in terms of the oil fields and pipelines we need to procure fuel.”

“I think that is the fight that we have to wage if we're to save the middle class. And I do have doubts about whether Hillary Clinton or whether any Republican candidate out there is prepared to take on the big money interests who control so much of our economy and as a result of Citizens United, our political process as well.”

“A people among whom there is no habit of spontaneous action for a collective interest - who look habitually to their government to command or prompt them in all matters of joint concern - who expect to have everything done for them, except what can be made an affair of mere habit and routine - have their faculties only half developed; their education is defective in one of its most important branches.”

“The industrial economy which divides society absolutely into two portions, the payers of wages and the receivers of them, the first counted by thousands and the last by millions, is neither fit for, nor capable of, indefinite duration: and the possibility of changing this system for one of combination without dependence, and unity of interest instead of organized hostility, depends altogether upon the future developments of the Partnership principle.”

“Adam Smith's was a real universalism in intent. Laissez Faire was intended to establish a world community as well as a natural harmony of interests within each nation... But the "children of darkness" were able to make good use of his creed. A dogma which was intended to guarantee the economic freedom of the individual became the "ideology" of vast corporate structures of a later period of capitalism, used by them, and still used, to prevent a proper political control of their power.”

“Marxism was the social creed and the social cry of those classes who knew by their miseries that the creed of the liberal optimists was s snare and a delusion... Liberalism and Marxism share a common illusion of the "children of light." Neither understands property as a form of power which can be used in either its individual or its social form as an instrument of particular interest against the general interest.”

“Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is that too much power and control rests in the hands of people whose private interests are directly affected by the Federal Reserves' actions.”

“The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives of the people as a whole and not any single interest group. The Open Market Committee should be abolished, and its powers transferred to the Federal Reserve Board - the present public members of the committee, with reasonably short terms of office.”

“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.”

“If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress can do to reverse the policy. Nor is there anything the people can do. Such bastions of unaccountable power are undemocratic. The Federal Reserve System must be reformed, so that it is answerable to the elected representatives of the people.”

“The last point for consideration is the supposed disposition of the people to interfere with the rights of property. So essential does it appear to me, to the cause of good government, that the rights of property should be held sacred, that I would agree to deprive those of the elective franchise against whom it could justly be alleged that they considered it their interest to invade them.”

“If time, like money, could be laid by while one was not using it, there might be some excuse for the idleness of half of the world, but yet not a full one. For even this would be such an economy as the living on a principal sum, without making it purchase interest.”

“Every great creative idea, formulated as a philosophy, has a social setting - in time, in a geographical location, in a political economy, in a matrix of interests and knowledge. It is not a free-swinging phenomenon like a balloon without moorings. It is not produced in a vacuum and, being creative, it does not work in a vacuum. Nurtured on things experienced and things known, it reaches out toward the unknown like a flower on a stalk growing out of the soil.”

“All American and Israeli goods and products should be boycotted in a way that undermines American and Israeli interests so as to act as deterrence to their war against Muslims and Islam that is being waged under the pretence of fighting terrorism. This boycott should become an overwhelming trend that makes these two states feel that their economies are in a real and actual danger.”

“There is a wise old saying 'Eat it up, wear it out, make it do, or do without'. Thrift is a practice of not wasting anything. Some people are able to get by because of the absence of expense. They have their shoes resoled, they patch, they mend, they sew, and they save money. They avoid installment buying, and make purchases only after saving enough to pay cash, thus avoiding interest charges. Frugality means to practice careful economy.”

“Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.”

“Obviously, if Christianity is going to survive as more than a respecter and comforter of profitable inquiries, then Christians, regardless of their organizations, are going to have to interest themselves in economy-which is to say, in nature and in work. They are going to have to give workable answers to those who say we cannot live without this economy that is destroying us and our world, who see the murder of Creation as the only way of life.”

“Mr. Greenspan did a very good job in the early 1990's. But recently he's fallen prey to this crazy theory that prosperity causes inflation. So they're trying to slow the economy down by raising interest rates. It's like a doctor saying you're in great health, so we have to make you sick a little bit. It's a bizarre theory. It's going to hurt our economy.”

“If the multitude is possessed of the balance of real estate, the multitude will have the balance of power, and in that case the multitude will take care of the liberty, virtue, and interest of the multitude in all acts of government.”

“It would seem, then, to be the part of political wisdom to found government on property; and to establish such distribution of property, by the laws which regulate its transmission and alienation, as to interest the great majority of society in the protection of the government.”

“The governments and the communist parties in Vietnam and China are doing their best to develop their local economies. But the rise of countries in Asia is not in opposition to development and affluence in Western nations. It is a mutually beneficial development. The interests of Western investors are protected in our country. Both we and the West benefit from this in equal measure.”

“I was making my work as transparent as possible, without equivocations, without calling attention to itself, without apology. There's a lot of conventions in the art world that are not to be transgressed, but my economy of means doesn't abide by those strictures. There's no reason to abide by them. I don't have any vested interest in it.”

“Political Economy as a branch of science is extremely modern; but the subject with which its enquiries are conversant has in all ages necessarily constituted one of the chief practical interests of mankind.”

“In the past, destruction of your neighbour might have been considered a victory, but today we are all interdependent. We live in a global economy; we face problems like climate change that affect us all. The 7 billion human beings alive today belong to one human family. In the context that others' interests are in our interest and our interest is in their interest, the use of force is self-destructive.”