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Economy Quotes

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Economy Quotes

“One wonders whether the Obama re-election campaign may be on the right track as it seeks to apply the you-break-it-you-own-it rule to Bush and the American economy. Hardly a day goes by without President Obama or his surrogates arguing that it takes longer than four years to recover from an economic crisis so long in the making.”

“The biggest threat to the American people today lies with the United States government. ... [T]he long-term solution is to dismantle, not reform, the iron fist of the welfare state and the controlled economy. This includes the end (not the reform) of the IRS, the DEA, the BATF, the SEC, the FDA, HUD, the departments of HHS, Labor, Agriculture, and energy, and every other agency that takes money from some and gives it to others or interferes with peaceful behavior.”

“Indeed, as we begin the twenty-first century, the money and traditional economies are slowly destroying their own support system. Increasing demands of the two economies are surpassing the sustainable yields of the ecosystems that underpin them. For example, one-third of the world's cropland is losing topsoil at a rate that is undermining its long-term productivity, fully half of the world's rangeland is overgrazed and deteriorating into desert, and the world's forests have shrunk by about half since the dawn of agriculture and are continuing to shrink.”

“Anybody interested in solving, rather than profiting from, the problems of food production and distribution will see that in the long run the safest food supply is a local food supply, not a supply that is dependent on a global economy. Nations and regions within nations must be left free and should be encouraged to develop the local food economies that best suit local needs and local conditions.”

“Making information free is survivable so long as only limited numbers of people are disenfranchised. As much as it pains me to say so, we can survive if we only destroy the middle classes of musicians, journalists, and photographers. What is not survivable is the additional destruction of the middle classes in transportation, manufacturing, energy, office work, education, and health care. And all that destruction will come surely enough if the dominant idea of an information economy isn't improved.”

“Eric Schlosser's book on the economy and strategies of the fast-food business should be read by anyone who likes to take their children to fast-food restaurants. I shall certainly never do that again. He employs a long, cold burn, a quiet and impassioned accumulation of detail, with calm, wit and clarity. (...) Fast Food Nation is witness to the rigour and seriousness of the best American journalism, readable, reliable and extremely carefully done.”

“If Christianity were true religious persecution would become a pious and charitable duty: if God designs to punish men for their opinions it would be an act of mercy to mankind to extinguish such opinions. By burning the bodies of those who diffuse them many souls would be saved that would otherwise be lost, and so there would be an economy of torment in the long run. It is therefore not surprising that enthusiasts should be intolerant.”

“Production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.”

“I still believe that, in the long run, the aggregate of the decisions of individual businessmen, exercising individual judgment in a free economy, even if often mistaken, is likely to do less harm than the centralized decisions of a Government; and certainly the harm is likely to be counteracted faster. As I said earlier in this debate, our economic medicine may be painful but it is fast and powerful because it can act freely.”

“Although the formulations of science now offer the most advanced knowledge of nature, men continue to use obsolete forms of thought long discarded by scientific theory. In so far as these obsolete forms are superfluous for science, the fact that they persist violated the principle of the economy of thought, that characteristic trait of the bourgeois temper.”

“Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. Then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. Usually in about two years in the US, they correlate with changes in the rate of inflation or deflation." "The leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation.”

“Capitalism had arisen through the misuse and exaggeration of certain rights, notably the right of property - the basis of economic freedom - and the right of contract, which is one of the main functions of economic freedom. Therefore, even under Capitalism, so long as the old principles were remembered it was possible to recall the principles whereby Society had once been sane and well ordered.”

“It is therefore our business to restore economic freedom through the restoration of the only institution under which it flourishes, which institution is Property. The problem before us is, how to restore Property so that it shall be, as it was not so long ago, a general institution.”

“The broad rich acres of our agricultural plains have been long preserved by nature to become her untrammeled gift to a people civilized and free, upon which should rest, in well-distributed ownership, the numerous homes of enlightened, equal, and fraternal citizens... Nor should our vast tracts of so-called desert lands be yielded up to the monopoly of corporations or grasping individuals, as appears to be much the tendency under the existing statute.”

“You may twist the word freedom as long as you please, but at last it comes to quiet enjoyment of your own property, or it comes to nothing. Why do men want any of those things that are called political rights and privileges? Why do they, for instance, want to vote at elections for members of parliament? Oh! Because they shall then have an influence over the conduct of those members. And of what use is that? Oh! Then they will prevent the members from doing wrong.”

“Capital, and the question of who owns it and therefore reaps the benefit of its productiveness, is an extremely important issue that is complementary to the issue of full employment... I see these as twin pillars of our economy: Full employment of our labor resources and widespread ownership of our capital resources. Such twin pillars would go a long way in providing a firm underlying support for future economic growth that would be equitably shared.”

“The late rebellion in Massachusetts has given more alarm than I think it should have done. Calculate that one rebellion in thirteen states in the course of eleven years, is but one for each state in a century and a half. No country should be so long without one. Nor will any degree of power in the hands of government prevent insurrections.”

“But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.”

“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.”

“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.”

“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.”

“If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power. I have been arguing that credit should be accepted as a human right. If we can come up with a system which allows everybody access to credit while ensuring excellent repayment - I can give you a guarantee that poverty will not last long.”

“In our society, real power does not happen to lie in the political system, it lies in the private economy: that’s where the decisions are made about what’s produced, how much is produced, what’s consumed, where investment takes place, who has jobs, who controls the resources, and so on and so forth. And as long as that remains the case, changes inside the political system can make some difference-I don’t want to say it’s zero-but the differences are going to be very slight.”

“If we enjoy the benefits of peace, it is only because we have an excellent armed force and a fine socialist economy. Let us exert all efforts so that our further development may be strong and mighty, so that our numerous enemies may think well and long before they decide to attack our fatherland, and so that if they attack, they will quickly regret it.”

“One of the most popular narcotics to ease the pain of economy is cherishing the belief that better days are ahead. This is both efficacious and commendable, but it sometimes turns out to be a habit-forming drug. ... Things to which you look forward too long are almost invariably disappointing when you get them, and you might die first anyway.”

“On Earth Day I made a commitment to reduce our emissions of greenhouse gases to 1990 levels by the year 2000. And I asked for a blueprint on how to achieve this goal. In concert with all other nations, we simply must halt global warming. It is a threat to our health, to our ecology, and to our economy. I know that the precise magnitude and patterns of climate change cannot be fully predicted. But global warming clearly is a growing, long-term threat with profound consequences. And make no mistake about it, it will take decades to reverse.”

“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we "really" experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”

“Particularly when the war power is invoked to do things to the liberties of people, or to their property or economy that only indirectly affect conduct of the war and do not relate to the engagement of the war itself, the constitutional basis should be scrutinized with care. ... I would not be willing to hold that war powers may be indefinitely prolonged merely by keeping legally alive a state of war that had in fact ended. I cannot accept the argument that war powers last as long as the effects and consequences of war for if so they are permanent -- as permanent as the war debts.”

“The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.”

“The wrecking ball is characteristic of our way with materials. We 'cannot afford' to log a forest selectively, to mine without destroying topography, or to farm without catastrophic soil erosion. A production-oriented economy can indeed live in this way, but only so long as production lasts.”