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Economy Quotes

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Economy Quotes

“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.”

“Violence, less and less embarrassed by the limits imposed by centuries of lawfulness, is brazenly and victoriously striding across the whole world, unconcerned that its infertility has been demonstrated and proved many times in history. What is more, it is not simply crude power that triumphs abroad, but its exultant justification. The world is being inundated by the brazen conviction that power can do anything, justice nothing.”

“As an element in human progress, the right of private property, in importance, has taken first and almost only place in the current systems of law and of political economy. While admitting its great importance, we cannot conceal the fact that the writers on those subjects have wholly failed to distinguish between its use and its abuse, or to recognize its rational and equitable limits.”

“You can have a strong economy or you can help the environment, but you can't do both at the same time. That's ridiculous. In fact, as a sustainable vision for a healthy economy has to involve changing our energy policy and changing with respect to the natural world. Because we're hitting nature's thresholds, we're hitting nature's limits with respect to water and crop yields and energy use and fossil fuels heating the atmosphere at the same time we're past global peak and running out of that.”

“In the name of economy a thousand wasteful devices would be invented; and in the name of efficiency new forms of mechanical time-wasting would be devised: both processes gained speed through the nineteenth century and have come close to the limit of extravagant futility in our own time. But labor-saving devices could only achieve their end-that of freeing mankind for higher functions-if the standard of living remained stable. The dogma of increasing wants nullified every real economy and set the community in a collective squirrel-cage.”

“Either the material order is the whole of being, wherein all transcendence is an illusion, or it is the phenomenal surface - mysterious, beautiful, terrible, harsh, and haunting - of a world of living spirits.... One should... be able to recognize that it is only the latter view that has ever had the power - over centuries and in every realm of human accomplishment - to summon desire beyond the boring limits marked by mortality, to endow the will with constancy and purpose, and to shape imagination towards ends that should not be possible within the narrow economies of the flesh.”

“I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us? ... [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.”