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Economy Quotes

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Economy Quotes

“We believe this approach (progress sharing) is a rational approach because you cooperate in creating the abundance that makes the progress possible, and then you share that progress after the fact, and not before the fact. Profit sharing would resolve the conflict between management apprehensions and worker expectations on the basis of solid economic facts as they materialize rather than on the basis of speculation as to what the future might hold.”

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Author:Walter Reuther
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“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.”

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Book:The Works of David Ricardo ...
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“Taxation has its limitations as a method of achieving better economic distribution since for this purpose it is essentially remedial. We must also take a positive approach by finding new ways to spread ownership of future capital growth more broadly in our society.”

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Book:The second American revolution: some personal observations
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“Many of the deficiencies of our economic system could be alleviated if ways were found to broaden the ownership of the means of production... This has happened in some companies through ESOPs. Successful approaches of this sort would pay dividends in terms of employee commitment and morale. And they would not deprive anyone of his present holdings since they are based on future growth.”

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Author:John D. Rockefeller
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“Let us not confuse objectives with methods. Too many so-called leaders of the nation fail to see the forest because of the trees. Too many of them fail to recognize the vital necessity of planning for definite objectives. True leadership calls for the setting forth of the objectives and the rallying of public opinion in support of these objectives.”

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Author:Franklin D. Roosevelt
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“Do not confuse objectives with methods. When the nation becomes substantially united in favor of planning the broad objectives of civilization, then true leadership must unite thought behind definite methods.”

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Book:Public Papers of the Presidents of the United States: F.D. Roosevelt, 1937, Volume 6
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“We need enthusiasm, imagination and the ability to face facts, even unpleasant ones, bravely. We need to correct, by drastic means if necessary, the faults in our economic system from which we now suffer. We need the courage of the young. Yours is not the task of making your way in the world, but the task of remaking the world which you will find before you. May every one of us be granted the courage, the faith and the vision to give the best that is in us to that remaking!”

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Author:Franklin D. Roosevelt
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“The good citizen will demand liberty for himself, and as a matter of pride he will see to it that others receive the liberty which he thus claims as his own. Probably the best test of true love of liberty in any country is the way in which minorities are treated in that country. Not only should there be complete liberty in matters of religion and opinion, but complete liberty for each man to lead his life as he desires, provided only that in so doing he does not wrong his neighbor.”

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Author:Theodore Roosevelt
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“Just as little can we afford to follow the doctrinaires of an impossible - and incidentally of a highly undesirable - social revolution which, in destroying individual rights - including property rights - and the family, would destroy the two chief agents in the advance of mankind, and the two chief reasons why either the advance or the preservation of mankind is worthwhile.”

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Book:African and European Addresses
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“The best lesson that any people can learn is that there is no patent cure-all which will make the body politic perfect, and that any man who is able glibly to answer every question as to how to deal with the evils of the body politic is at best a foolish visionary and at worst an evil-minded quack.”

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Book:History as Literature and Other Essays
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“Modern technique has made it possible for leisure, within limits, to be not the prerogative of small privileged classes, but a right evenly distributed throughout the community. The morality of work is the morality of slaves, and the modern world has no need of slavery.”

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Book:In Praise of Idleness
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“All those who, since Adam Smith, have turned their attention to Political Economy, agree that in reality we do not buy articles of consumption with money, the circulating medium with which we pay for them. We must in the first instance have bought this money itself by the sale of our produce.”

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Book:Letters to Thomas Robert Malthus on Political Economy and Stagnation of Commerce
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“To a proprietor of a mine, the silver money is a produce with which he buys what he has occasion for. To all those through whose hands this silver afterwards passes, it is only the price of the produce which they themselves have raised by means of their property in land, their capitals, or their industry. In selling them they in the first place exchange them for money, and afterwards they exchange the money for articles of consumption.”

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Book:Letters to Thomas Robert Malthus on Political Economy and Stagnation of Commerce
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“The very foundation of private property and free contracting wears away in a nation in which its most vital, most concrete, most meaningful types of private property and free contracting disappear from the moral horizon of the people.”

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Book:Capitalism, Socialism and Democracy
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“There is another method of obtaining money... It does not presuppose the existence of accumulated results of previous development, and hence may be considered as the only one which is available in strict logic. This method of obtaining money is the creation of purchasing power by banks. The form it takes is immaterial.”

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Author:Joseph A. Schumpeter
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“Access to the national dividend is usually to be had only on condition of some productive service previously rendered or of some product previously sold. This condition is, in this case, not yet fulfilled. It will be fulfilled only after the successful completion of the new combinations. Hence this credit will in the meantime affect the price level.”

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Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
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“The banker, therefore, is not so much primarily a middleman in the commodity "purchasing power" as a producer of this commodity. However, since all reserve funds and savings today usually flow to him, and the total demand for free purchasing power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.”

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Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
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“It is perfectly clear that people, given no alternative, will choose tyranny over anarchy, because anarchy is the worst tyranny of all... The special nature of liberties is that they can be defended only as long as we still have them. So the very first signs of their erosion must be resisted, whether the issue be domestic surveillance by the Army, so-called preventive detention, or the freedom of corporate television, or that of a campus newspaper.”

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Author:Eric Sevareid
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“One of the greatest disasters that happened to modern civilization was for democracy to inscribe "liberty" on its banners instead of "justice." Because "liberty" was considered the ideal it was not long until some men interpreted it as meaning "freedom from justice"; then when religion and decent government attempted to bring them back to justice, organized into "freedom groups" they protested that their constitutional and natural rights were being violated.”

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Author:Fulton J. Sheen
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“The industrial and social injustice of our era is the tragic aftermath of democracy's overemphasis on freedom as the "right to do whatever you please." No, freedom means the right to do what you ought, and ought implies law, and law implies justice, and justice implies God. So too in war, a nation that fights for freedom divorced from justice has no right to war, because it does not know why it wants to be free, or why it wants anyone else to be free.”

KnowsWantMeanDoeWarWisdomLawFightingPoliticsNationsSocialJusticeEconomyDemocracyOughtPleaseInjusticeErasLiberalismTragicDivorcedAftermathFighting For FreedomSocial Injustice
Author:Fulton J. Sheen
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“The basic struggle today is not between individualism and collectivism, free enterprise and socialism, democracy and dictatorship. These are only the superficial manifestations of a deeper struggle which is moral and spiritual and involves above all else whether man shall exist for the state, or the state for man, and whether freedom is of the spirit or a concession of a materialized society.”

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Author:Fulton J. Sheen
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“If a man surrenders all power of self-determination in regard to the profits, management or ownership of the place where he works, he not only loses that special prerogative which marks him off from a cow in a pasture, but what is worse, he loses all capacity for determining any work. This is the beginning of a slavery which sometimes goes by the name of security.”

IfsMenSelfSometimesWisdomPoliticsNamesLosesEconomySpecialSecurityCapacityDeterminationMarkRegardManagementSlaveryProfitSurrenderLiberalismCowsSelf DeterminationOwnershipPrerogativePasturesTime Goes By
Author:Fulton J. Sheen
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“The Western world generally has lost the concept of man as a creature made to the image and likeness of God, and reduced him either to a component part of the universe, to an economic animal or to a "physiological bag filled with psychological libido." Once man became materialized and atomized in Western thinking, it was only natural for a totalitarianism to arise to gather up the fragments into a new totality and substitute the collective man for the individual man who was isolated from all social responsibilities.”

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Author:Fulton J. Sheen
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“There are three ways in which a man becomes a slave. He may be born into slavery, or forced into it, or he can deliberately accept his servitude. All three forms flourish in the modern world. Men are born and forced into slavery in Russia and her satellites states. Men in the free world invite slavery when they ask the government to provide complete security, when they surrender their freedom to the "Welfare State."”

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Author:Fulton J. Sheen
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“The slave states of Western world are an outgrowth of monopolistic capitalism - an economic system which is opposed to the wide distribution of private property in many hands. Instead, monopolistic capitalism concentrates productive wealth among a few men, allowing the rest to become a vast proletariat.”

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Author:Fulton J. Sheen
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“Some representatives of monopolistic capitalism, sensing this evil in their system, have tried to silence criticism by pointing to the diffused ownership in the great corporations. They advertise, "No one owns more than 4 percent of the stock of this great company." Or they print lists of stockholders, showing that these include farmers, schoolteachers, baseball players, taxi drivers, and even babies.”

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Author:Fulton J. Sheen
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“Possession properly has two faces, two aspects: we all have a right to private property, but this is accompanied by our responsibility for its righteous use. These two things (which should be inseparable) are frequently divided today. Everyone admits that the farmer who own a horse is obligated to feed and care for it, but in the case of stocks and bonds, we often forget that the same principle should prevail.”

ShouldTwoUseWisdomCareTodayFacesPoliticsForgetResponsibilityPrinciplesCasesEconomyAspectHorsePropertyPossessionTwo ThingsLiberalismDividedFarmersRighteousInseparablePrivate Property
Author:Fulton J. Sheen
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