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Economy Quotes

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Economy Quotes

“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.”

“If the helplessness and isolation of labour, who have nothing to sell but their labour, can be totally removed by connecting labour with capital through a universal credit system, we'll then have other kinds of actors on the economic scene different from what the existing capitalist world would allow us to bring out.”

“The essence of capitalism is expressed in two of its basic features: a) profit maximization and b) market competition. In their abstract formulations none of them was supposed to have anything conspiratorial against the poor. But in real life they turn out to be the "killers" of the poor - by making rich the richer and poor the poorer.”

“Because of the oil-and-water relationship governments have cultivated between ethics and political economy, speaking in plain terms - spelling it out as it is - as become foreign to the public. So here goes: When government sports a surplus, this implies that the political pickpockets have stolen more funds than they can possibly dream of spending. The property is not theirs to keep! Conversely, when deficits are reported, this means that the kleptomaniacs have not been able to steal sufficient funds to cover their profligacy.”

“A lot of Democrats have said that raising the minimum wage is both good economics and good politics. The nonpartisan CBO issued a report today saying that raising the minimum wage to $10.10 an hour would cost the economy about 500,000 jobs...Why should we trust Democrats on anything when they couldn't have foreseen that this would be the case?”

“Any single man must judge for himself whether circumstances warrant obedience or resistance to the commands of the civil magistrate; we are all qualified, entitled, and morally obliged to evaluate the conduct of our rulers. This political judgment, moreover, is not simply or primarily a right, but like self-preservation, a duty to God. As such it is a judgment that men cannot part with according to the God of Nature. It is the first and foremost of our inalienable rights without which we can preserve no other.”

“Property is surely a right of mankind as real as liberty. Perhaps, at first, prejudice, habit, shame or fear, principle or religion, would restrain the poor from attacking the rich, and the idle from usurping on the industrious; but the time would not be long before courage and enterprise would come, and pretexts be invented by degrees, to countenance the majority in dividing all the property among them, or at least, in sharing it equally with its present possessors.”

“Suppose a nation, rich and poor, high and low, ten millions in number, all assembled together; not more than one or two millions will have lands, houses, or any personal property; if we take into the account the women and children, or even if we leave them out of the question, a great majority of every nation is wholly destitute of property, except a small quantity of clothes, and a few trifles of other movables.”

“If "Thou shalt not covet," and "Thou shalt not steal," were not commandments of Heaven, they must be made inviolable precepts in every society, before it can be civilized or made free.”

“Property must be secured or liberty cannot exist. But if unlimited or unbalanced power of disposing property, be put into the hands of those who have no property, France will find, as we have found, the lamb committed to the custody of the world. In such a case, all the pathetic exhortations and addresses of the national assembly to the people, to respect property, will be regarded no more than the warbles of the songsters of the forest.”

“We may... affirm that the balance of power in a society accompanies the balance of property in land. The only possible way, then, of preserving the balance of power on the side of liberty and public virtue is to make the acquisition of land easy to every member of society; to make a division of the land into small quantities, so that the multitude may be possessed of landed estates.”

“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.”

“Whensoever, therefore, the legislative shall transgress this fundamental rule of society, and either by ambition, fear, folly, or corruption, endeavour to grasp themselves, or put into the hands of any other, an absolute power over the lives, liberties, and estates of the people, by this breach of trust they forfeit the power the people had put into the hands... and it devolves to the people, who have a right to resume their original liberty, and... provide for their own safety and security.”

“Ask any rich man of common prudence to which of the two sorts of people he has lent the greater part of his stock, to those who, he thinks, will employ it profitably, or to those who will spend it idly, and he will laugh at you for proposing the question.”

“If wealth is accumulated in the hands of a few, either by a feudal or a stock monopoly, it carries the power also; and a government becomes as certainly aristocratical, by a monopoly of wealth, as by a monopoly of arms. A minority, obtaining a majority of wealth or arms in any mode, becomes the government.”

“A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive to its happiness. It wars against industry, frugality, and economy, and it fosters the evil spirits of extravagance and speculation.”

“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 freest government, if it could exist, would not be long acceptable, if the tendency of the laws were to create a rapid accumulation of property in a few hands, and to render the great mass of the population dependent and penniless.”