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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.”

YearsMayLongPresidentWonderBreakEconomyFourEconomicElectionCrisisTrackArguingCampaignsPresident ObamaFour YearsRight TrackEconomic CrisisSurrogatesAmerican Economy
Author:Jon Meacham
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“Psychological man may be going nowhere, but he aims to achieve a certain speed and certainty in going. Like his predecessor, the man of the market economy, he understands morality as that which is conducive to increased activity. The important thing is to keep going.”

MenMayImportantCertainEconomyAchieveHe ManMoralityActivityAimImportant ThingsSpeedPsychologicalCertaintyKeep GoingPredecessorsMarket Economy
Book:The Triumph of the Therapeutic: Uses of Faith After Freud
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“There are many reasons for keeping a diary: to make a note of facts that one considers important; to open one's heart, to give vent to one's feelings, to make confessions; from the instinct of economy which sometimes encourages a writer to make good use of even the smallest crumbs of his life, so that he may have one more book to publish; or again from vanity and self- satisfaction.”

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Author:Alberto Moravia
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“Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And when a person does not understand the creation of resources and wealth, the only intellectual alternative is to believe that increasing wealth must be at the cost of someone else. This belief that our good fortune must be an exploitation of others may be the taproot of false prophecy about doom that our evil ways must bring upon us.”

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Author:Julian Simon
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“The progressive historical role of capitalism may be summed up in two brief propositions: increase in the productive forces of social labour, and the socialisation of that labour. But both these facts manifest themselves in extremely diverse processes in different branches of the national economy.”

MayTwoDifferentFactsForceSocialProcessRolesEconomyCapitalismIncreaseHistoricalBranchesProductiveLabourProgressiveManifestDiversePropositionsNational Economy
Author:Vladimir Lenin
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“I intend to discuss some perplexing issues which are raised once we embrace the hypothesis that society can be deschooled; to search for criteria which may help us distinguish institutions which merit development because they support learning in a deschooled milieu; and to clarify those personal goals which would foster the advent of an Age of Leisure (schole) as opposed to an economy dominated by service industries.”

MayHelpingAgeGoalSupportEconomyIssuesDevelopmentIndustryInstitutionsEmbraceRaisedMeritLeisureHypothesisCriteriaAdventScholesMilieuPersonal GoalService Industry
Author:Ivan Illich
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“Curiously, it is hard not to be a little optimistic about the future for Zimbabwe (as nobody at all calls it yet, except in political speeches). The fear is not that there will be mass slaughter of the whites, followed by their flight to South Africa and the collapse of the economy, but that the need to retain white confidence may mean that the blacks are badly disappointed.”

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Author:Simon Hoggart
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“Among minor alterations, I may mention the substitution for the name political economy of the single convenient term economics. I cannot help thinking that it would be well to discard, as quickly as possible, the old troublesome double-worded name of our science.”

ThinkingWellsMayHelpingWould BePoliticalNamesTermEconomyEconomicsMinorsConvenientTroublesomeAlterationsSubstitutionPolitical Economy
Book:The Theory of Political Economy
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“To condemn free-market capitalism because of anything going on today makes no sense. There is no evidence that capitalism exists today. We are deeply involved in an interventionist-planned economy that allows major benefits to accrue to the politically connected of both political parties. One may condemn the fraud and the current system, but it must be called by its proper names — Keynesian inflationism, interventionism, and corporatism.”

MayTodayPoliticalNamesPartyEconomyInvolvedBenefitsMajorsEvidenceCapitalismCurrentsConnectedFraudPolitical PartiesFree MarketCorporatismFree Market CapitalismInterventionism
Book:Pillars of Prosperity: Free Markets, Honest Money, Private Property
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“If the amount of money going into the war economy were invested in landscape restoration, we would be in a far more positive position. It may get a little dire before we pull together, but I think when the prosperous nations, and in particular the US, realise they're wrecking their own kids' lives, there will be a mass change in value. It will be a difficult century, and ugly, but I don't think that in the end people are so stupid as to kill themselves off.”

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Author:Kim Stanley Robinson
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“I don't mean to imply that we are in imminent danger of being wiped off the face of the earth - at least, not on account of global warming. But climate change does confront us with profound new realities. We face these new realities as a nation, as members of the world community, as consumers, as producers, and as investors. And unless we do a better job of adjusting to these new realities, we will pay a heavy price. We may not suffer the fate of the dinosaurs. But there will be a toll on our environment and on our economy, and the toll will rise higher with each new generation.”

WorldMayMeanDoeRealityEarthJobsFacesSufferingNationsCommunityPayEconomyEnvironmentFateGenerationsDangerHigherMembersAccountsProfoundClimateClimate ChangeHeavyProducersConsumersGlobal WarmingInvestorsOur EnvironmentDinosaursNew GenerationTollsBetter JobsAdjusting
Author:Eileen Claussen
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“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.”

IfsBelieveMayLongSaidStillsGovernmentRunningIndividualDecisionPowerfulEconomyEconomicExerciseJudgmentMedicinePainfulHarmDebateFasterLong RunsMistakenBusinessmanI Still BelieveFree Economy
Author:John James Cowperthwaite
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“Industrial production, the flow of resources in the economy, the exertion of military effort in a war theater-all are complexes of numerous interrelated activities. Differences may exist in the goals to be achieved, the particular processes involved, and the magnitude of effort. Nevertheless, it is possible to abstract the underlying essential similarities in the management of these seemingly disparate systems.”

MayWarProcessGoalDifferencesEffortEconomyMilitaryParticularInvolvedActivityEssentialsResourcesFlowTheaterManagementComplexesProductionsAbstractNeverthelessSimilarityMagnitudeExertion
Book:Linear Programming and Extensions
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“Tools may be animate as well as inanimate; for instance, a ship's captain uses a lifeless rudder, but a living man for watch; for a servant is, from the point of view of his craft, categorized as one of its tools. So any piece of property can be regarded as a tool enabling a man to live, and his property is an assemblage of such tools; a slave is a sort of living piece of property; and like any other servant is a tool in charge of other tools.”

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Author:Aristotle
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“But life cannot maintain itself alone. The Creator of life has entrusted us with the responsibility of preserving, developing, and perfecting it. In order that we may accomplish this, He has provided us with a collection of marvelous faculties. And He has put us in the midst of a variety of natural resources. By the application of our faculties to these natural resources we convert them into products, and use them. The process is necessary in order that life may run its appointed course.”

MayUseRunningOrderCoursesPoliticsProcessNaturalResponsibilityEconomyProductsResourcesCreatorAccomplishVarietyDevelopingLiberalismCollectionsMidstFacultyApplicationMarvelousNatural Resources
Book:The Law
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“We may not say to the poor: "You have a right to fight the rich merely because they are rich and in order to make yourselves less poor." We may say: "You have a right to fight to prevent the conditions of your life becoming inhuman," but we may not say, "You have a right to fight merely because you desire to have more and your opponent to have less."”

MayWisdomDesireOrderFightingPoliticsPoorEconomyRichConditionsBecomingOpponentsLiberalismInhuman
Author:Hilaire Belloc
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“And these great natural rights may be reduced to three principal or primary articles: the right of personal security; the right of personal liberty; and the right of private property; because as there is no other known method of compulsion, or of abridging man's natural free will, but by an infringement or diminution of one or other of these important rights, the preservation of these, inviolate, may justly be said to include the preservation of our civil immunities in their largest and most extensive sense.”

MenMaySaidImportantWisdomThreePoliticsNaturalKnownLibertyEconomyRightsSecurityMethodPropertyPrimariesLiberalismFree WillArticlesPrincipalPreservationCompulsionPrivate PropertyImmunityNatural RightsPersonal LibertyInfringementPersonal Security
Book:Blackstone's Commentaries systematically abridged and adapted to the existing state of the law and constitution, with great additions. By Samuel Warren
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“At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency and the last to receive the benefit of its correction - is practically defenseless.”

FirstsMayWisdomLastsValuesEvilPoliticsEconomyProtectBenefitsProfitFinanceLiberalismMisfortunesCapitalistCurrencyHarvestInjuredAnticipateProperty RightsCorrectionsHoardingDefenselessFluctuationSpeculatorsMisfortunes Of Others
Book:Special message, August 8th, 1893. Extract from third annual message, December 2nd, 1895
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“Freedom is not an empty sound; it is not an abstract idea; it is not a thing that nobody can feel. It means, - and it means nothing else, - the full and quiet enjoyment of your own property. If you have not this, if this be not well secured to you, you may call yourself what you will, but you are a slave.”

IfsFeelsWellsMayMeanIdeasWisdomPoliticsSoundEconomyQuietEmptyPropertySlaveEnjoymentAbstractLiberalismSecured
Book:A History of the Protestant Reformation in England and Ireland
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“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.”

MenWantMayLongUseLastsPoliticalPoliticsEconomyRightsInfluencePleaseQuietMembersVoteElectionPropertyPrivilegeInstanceEnjoymentLiberalismTwistsParliamentPolitical RightsRights And PrivilegesMembers Of Parliament
Book:A History of the Protestant Reformation in England and Ireland
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“We shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves; and consequently within what may be deemed the period of a generation, or the life of the majority.”

MayWisdomPoliticsPayEconomyGenerationsPeriodsMajorityBoundsDebtLiberalismPosteritySaddles
Book:The Works of Thomas Jefferson: Correspondence and Papers, 1808-1816
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“Two things, Christian reader, particularly excite the will of man to good. A principle of justice is one, the other the profit we may derive therefrom. All wise men, therefore, agree that justice and profit are the two most powerful inducements to move our wills to any undertaking. Now, though men seek profit more frequently than justice, yet justice is in itself more powerful.”

MenMayTwoChristianMovingPoliticsJusticePowerfulPrinciplesEconomyWiseReaderAgreeProfitTwo ThingsLiberalismMost PowerfulUndertakings
Book:The Sinner's Guide
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“It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke about the country's need for "an elastic currency." Since then, Congress has passed the Full Employment Act, declaring its general intention to promote "maximum employment, production, and purchasing power." But it has never directly counseled the Federal Reserve.”

NeedsMayCountryWisdomSeemsPoliticsGoalEconomyPolicyStrangeIntentionCongressProductionsEmploymentLiberalismSpokesCurrencyReservesFoundingMaximumFederal ReserveDeclaringPurchasingPurchasing Power
Author:Wright Patman
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“For they have always unanimously maintained that nature, rather the Creator Himself, has given man the right of private ownership not only that individuals may be able to provide for themselves and their families but also that the goods which the Creator destined for the entire family of mankind may through this institution truly serve this purpose.”

MenMayAblePurposePoliticsIndividualGivenEconomyMankindInstitutionsCreatorLiberalismGoodsOwnershipDestined
Book:On reconstructing the social order: (Quadragesimo anno)
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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!”

IfsWorldWayNeedsGivingMayMeanFactsWisdomFacesYoungSufferingPoliticsImaginationAbilityVisionEconomyEconomicTasksFaultsEnthusiasmGrantedLiberalismEconomic SystemsCorrectingDrastic
Author:Franklin D. Roosevelt
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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.”

MayDoeFormPoliticsResultsExistenceEconomyCreationDevelopmentLogicMethodAvailableLiberalismStrictObtainingPurchasingPurchasing Power
Author:Joseph A. Schumpeter
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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."”

MenWorldWayMayStatesWisdomGovernmentFormThreeAsksPoliticsBornAcceptingEconomyModernSecuritySlaverySlaveSurrenderRussiaWelfareLiberalismInvitesModern WorldServitudeSatellitesWelfare StateFree WorldThree Ways
Author:Fulton J. Sheen
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“The workmen in a factory may have a shadowy, unknown absentee "employer" - the thousands of individual owners of stock - whom "management" represents and tries to please by extra dividends. The workman's livelihood is at the disposition of strangers who make a single demand of their representatives: higher profits.”

TryingMayWisdomPoliticsIndividualEconomyHigherPleaseDemandManagementProfitStrangerExtrasLiberalismOwnersFactoriesRepresentativesDispositionEmployersLivelihoodDividendsWorkmen
Author:Fulton J. Sheen
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“Faced with such insecurity, labor unions seek a solution in demands for higher wages, shorter hours, pensions, and such things. But this approach takes monopolistic capitalism for granted, and accepts the unnatural division between property and responsibility as permanent. A much more radical solution is apt to come, and this may take either of two forms.”

MayTwoWisdomFormPoliticsHoursResponsibilityAcceptingEconomyHigherDemandApproachSolutionsCapitalismLaborPropertyUnionsGrantedRadicalPermanentLiberalismInsecurityDivisionWagesUnnaturalPensionLabor Union
Author:Fulton J. Sheen
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