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Economy Quotes

“It is hard to be enthusiastic about the economy's prospects when house prices are falling: Households spend less, small business owners can't use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears.”

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Author:Mark Zandi
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“Our rulers will best promote the improvement of the nation by strictly confining themselves to their own legitimate duties, by leaving capital to find its most lucrative course, commodities their fair price, industry and intelligence their natural reward, idleness and folly their natural punishment, by maintaining peace, by defending property, by diminishing the price of law, and by observing strict economy in every department of the state. Let the Government do this: the People will assuredly do the rest.”

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Author:Thomas B. Macaulay
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“The difference between [socialism and fascism] is superficial and purely formal, but it is significant psychologically: it brings the authoritarian nature of a planned economy crudely into the open. The main characteristic of socialism (and of communism) is public ownership of the means of production, and, therefore, the abolition of private property. The right to property is the right of use and disposal. Under fascism, men retain the semblance or pretense of private property, but the government holds total power over its use and disposal.”

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Author:Ayn Rand
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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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“We must speak first about the division of land and about those who cultivate it: who should they be and what kind of person? We do not agree with those who have said that property should be communally owned, but we do believe that there should be a friendly arrangement for its common use, and that none of the citizens should be without means of support.”

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Author:Aristotle
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“But if we are to retain freedom, then we can only do so by keeping the determining mass of the citizens the possessors of property with personal control over it, as individuals or as families. For property is the necessary condition of economic freedom in the full sense of that term. He that has not property is under economic servitude to him who has property, whether the possessor of it be another individual or the State.”

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Book:The Crisis Of Civilization
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“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.”

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Author:Hilaire Belloc
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“Economic freedom is in our eyes a good. It is among the highest of temporal goods because it is necessary to the highest life of society through the dignity of man and through the multiplicity of his action, in which multiplicity is life. Through well-divided property alone can the units of society react upon the State. Through it alone can a public opinion flourish. Only where the bulk of the cells are healthy can the whole organism thrive.”

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Book:An Essay on the Restoration of Property
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“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.”

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Book:An Essay on the Restoration of Property
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“Had there been any existent vital and energetic institution left in Society after the Reformation for the use of small property in coordinated form-that is, in combination, so that the average man's holding could be put to useful purpose in company with the holdings of a great number of other men of his own sort, the new evils would not have arisen.”

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Book:The Crisis Of Civilization
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“It is Mind which determines the change of Society, and it was because the mind at work was a Catholic mind that the slave became a serf and was on his way to becoming a peasant and a fully free man-a man free economically as well as politically. The whole spirit of the Church was for small property, and that spirit was slowly, instinctively, working for the establishment of small property throughout Christendom.”

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Book:The Crisis Of Civilization
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“Let us then repeat and firmly fix this main point: the evil, the root evil, of that to which the term Capitalism has come to be applied, is neither its functioning for profit nor its dependence upon legally protected private property; but the presence of a Proletariat, that is of men possessing political freedom, but dispossessed of economic freedom, and existing in such large numbers in any community as to determine the tone of all that community.”

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Book:The Crisis Of Civilization
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“Ownership by delegation is a contradiction in terms. When men say, for instance (by a false metaphor), that each member of the public should feel himself an owner of public property-such as a Town Park-and should therefore respect it as his own, they are saying something which all our experience proves to be completely false. No man feels of public property that it is his own; no man will treat it with the care of the affection of a thing which is his own.”

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Book:An Essay on the Restoration of Property
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“The larger the unit of capital present, the easier the transaction called emission of credit. Centralized lending of this kind (which is today universal) actively promotes the absorption of the small man by the great, the reduction of small property owners to a proletarian condition.”

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Book:The Crisis Of Civilization
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“Under the old social philosophy which had governed the Middle Ages, temporal, and therefore all economic, activities were referred to an eternal standard. The production of wealth, it distribution and exchange were regulated with a view to securing the Christian life of Christian men. In two points especially was this felt: First in securing the independence of the family, which can only be done by the wide distribution of property, in others words the prevention of the growth of a proletariat; secondly, in the close connection between wealth and public function.”

MenFirstsTwoDonePhilosophyAgeChristianPoliticsSocialFeltGrowthWealthViewsEconomyEconomicMiddleActivityEternalStandardsConnectionsFunctionIndependencePropertyProductionsWideChristian LifeLiberalismDistributionMiddle AgesPreventionProletariat
Author:Hilaire Belloc
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“When the mass of families in a State are without property, then those who were once citizens become virtually slaves. The more the State steps in to enforce conditions of security and sufficiency; the more it regulates wages, provides compulsory insurance, doctoring, education, and in general takes over the lives of the wage-earners, for the benefit of the companies and men employing the wage-earners, the more is this condition of semi-slavery accentuated.”

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Author:Hilaire Belloc
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“In the midst of all these innumerable forms of a common protest and universal ill-ease there has grown up one definite body of doctrine whose adherents are called Communists and who desired the total subversion of what had been, hitherto unquestioned among civilized European men, the general doctrines of property and individual freedom.”

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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.”

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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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“The power of perpetuating our property in our families is one of the most valuable and interesting circumstances belonging to it, and that which tends the most to the perpetuation of society itself.”

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Book:Revolutionary Writings: Reflections on the Revolution in France and the First Letter on a Regicide Peace
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“All the controversialists who have become conscious of the real issue are already saying of our ideal exactly what used to be said of the Socialists' ideal. They are saying that private property is too ideal not to be impossible. They are saying that private enterprise is too good to be true. They are saying that the idea of ordinary men owning ordinary possessions is against the laws of political economy and requires an alteration in human nature.”

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Author:Gilbert K. Chesterton
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“For the mass of men the idea of artistic creation can only be expressed by an idea unpopular in present discussions - the idea of property... Property is merely the art of the democracy... One would think, to hear people talk, that the Rothschilds and the Rockefellers were on the side of property. But obviously they are the enemies of property; because they are enemies of their own limitations.”

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Author:Gilbert K. Chesterton
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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.”

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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.”

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Book:A History of the Protestant Reformation in England and Ireland
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“The effect of the corporation, under the prevailing policy of the free, go-as-you-please method of organization and management, has been to drive the bulk of our people, other than farmers, out of property ownership; and, if allowed to go on as present, it will keep them out... The paramount problem is not how to stop the growth of property, and the building up of wealth, but how to manage it so that every species of property, like a healthy growing tree will spread its roots deeply and widely in the soil of a popular proprietorship.”

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Author:Peter S. Grosscup
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“The paramount problem... is how to make this new form of property ownership a workable agent toward repeopleizing the proprietorship of the country's industries. Open to the wage-earner of the country the road to proprietorship... not as a gratuity, but as their proper allotment out of the combined forces that have made the enterprise successful.”

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Author:Peter S. Grosscup
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“It is also true that the less possible it becomes for a man to acquire a new fortune, the more must the existing fortunes appear as privileges for which there is no justification. Policy is then certain to aim at taking these fortunes out of private hands, either by the slow process of heavy taxation of inheritance or by the quicker one of outright confiscation. A system based on private property and control of the means of production presupposes that such property and control can be acquired by any successful man.”

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Author:Friedrich August von Hayek
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“The party should stand for a constantly wider diffusion of property. That is the greatest social and economic security that can come to free men. It makes free men. We want a nation of proprietors, not a state of collectivists. That is attained by creating a national wealth and income, not by destroying it. The income and estate taxes create an orderly movement to diffuse swollen fortunes more effectively than all the quacks.”

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Book:Addresses Upon the American Road
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“The banks themselves were doing business on capitals three-fourths of which were fictitious. This fictitious capital... is now to be lost, and to fall on somebody; it must take on those who have property to meet it, and probably on the less cautious part, who, not aware of the impending catastrophe, have suffered themselves to contract, or to be in debt, and must now sacrifice their property of a value many times the amount of the debt. We have been truly sowing the wind, and are now reaping the whirlwind.”

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Author:Thomas Jefferson
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“Economic activity, especially the activity of a market economy, cannot be conducted in an institutional, juridical or political vacuum. On the contrary, it presupposes sure guarantees of individual freedom and private property, as well as a stable currency and efficient public services.”

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Book:The Encyclicals of John Paul II
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“Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various forms of nonwage property income to the owners of capital. In itself, it is no more responsible for maldistribution of purchasing power than the science of bookkeeping is responsible for bankruptcy.”

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Author:Louis O. Kelso
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