464 Economy Quotes

We stand for the maintenance of private property... We shall protect free enterprise as the most expedient, or rather the sole possible economic order.

I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals.

Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?

The wisdom of man never yet contrived a system of taxation that would operate with perfect equality.

This island is made mainly of coal and surrounded by fish. Only an organizing genius could produce a shortage of coal and fish at the same time.

Take away from English authors their copyrights, and you would very soon take away from England her authors.

As I think through the issue of funding the rebuilding of Iraq, I think about the analogy of a bankruptcy proceeding. There is no doubt that Iraq as a country is bankrupt.

Today the Internal Revenue Code constitutes cruel and unusual punishment. A flat tax would be an enormous step forward.

I believe the stars can affect human lives, particularly by providing employment for thousands of astrologers.

It's going to be really interesting to see what the heroin market does in the next two years or so. One thing you can be pretty sure of. The Afghan peasants who grow poppies won't get rich. The money will end up in places like Dubai.

Experience has shown that the trade of the East is the key to national wealth and influence.

The enormous dynamic and creative, as well as destructive energy of capitalism... is written up with more praise and more respect by Marx and Engels in the 1848 Communist Manifesto than probably by anyone since. I don't think anyone has ever said so precisely and with such awed admiration how great capitalism is, how inventive, how innovative, how dynamic, how much force of creativity it unleashes.

The growth of entrepreneurial classes throughout the world is an asset in the promotion of human rights and individual liberty, and it should be understood and used as such. Yet peace is the first and most important condition for continued prosperity and freedom. America's military power must be secure because the United States is the only guarantor of global peace and stability. The current neglect of America's armed forces threatens its ability to maintain peace.

Successful people are the ones who think up things for the rest of the world to keep busy at.

I hate banks. They do nothing positive for anybody except take care of themselves. They're first in with their fees and first out when there's trouble.

Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.

Economy is a distributive virtue, and consists not in saving but selection. Parsimony requires no providence, no sagacity, no powers of combination, no comparison, no judgment.

Human resources are the most valuable assets the world has. They are all needed desperately.

The drug war has nothing to do with making communities livable or creating a decent future for black kids. On the contrary, prohibition is directly responsible for the power of crack dealers to terrorize whole neighborhoods. And every cent spent on the cops, investigators, bureaucrats, courts, jails, weapons, and tests required to feed the drug-war machine is a cent not spent on reversing the social policies that have destroyed the cities, nourished racism, and laid the groundwork for crack culture.

If we want to save our planet earth, we have a duty to put an end to the capitalist system.

They talk about the failure of socialism but where is the success of capitalism in Africa, Asia and Latin America?

The revenues of Cuban state-run companies are used exclusively for the benefit of the people, to whom they belong.

Art, industry, and commerce, so long crushed and overborne, were stirring into renewed life, and a crowd of adventurous men, nurtured in war and incapable of repose, must seek employment for their restless energies in fields of peaceful enterprise.

Were the Soviet Union to sink tomorrow under the waters of the ocean, the American military-industrial establishment would have to go on, substantially unchanged, until some other adversary could be invented. Anything else would be an unacceptable shock to the American economy.

The global crisis is caused by pathologies inherent in the global financial system itself.

Not over my dead body will they raise your taxes.

I aim to be a competitive nation.

The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.

A people... who are possessed of the spirit of commerce, who see and who will pursue their advantages may achieve almost anything.

I know of no pursuit in which more real and important services can be rendered to any country than by improving its agriculture, its breed of useful animals, and other branches of a husbandman's cares.

To accept capitalism and Free Enterprise as articles of faith without agreeing that we must be free to consider whether what is offered is free and freeing is itself enslavement.

What the insurance companies have done is to reverse the business so that the public at large insures the insurance companies.

A nation trying to tax itself into prosperity is like a man standing in a bucket and trying to pull himself up by the handles.

'NAFTA comin' with the new disaster'

'Ain't it funny how the factories doors close, 'round the time that the school doors close'

I think every gentleman on this floor is as well satisfied as I am that Duluth is destined to become the commercial metropolis of the universe, and that this road should be built at once.

'In the same way that the Soviets' Sputnik satellite woke up the country to the need for math and science education, the outsourcing conversation cries out for a constructive, long-term solution that ensures Americans have world-class education, a world-class workforce and the ability to remain a competitive global leader.' (2004)

Power, instrument of the collective force, created in society to serve as mediator between capital and labor, has become inescapably enchained to capital and directed against the proletariat. No political reform can resolve this contradiction, since, according to the avowal of politicians themselves, such a reform could only end by giving more energy and expansion to power, and until it had overthrown the hierarchy and dissolved society, power would not be able to attack the prerogatives of monopoly. The problem consists, then, for the working classes, not in capturing, but in defeating both power and monopoly, which would mean to make rise from the bowels of the people, from the depths of labor, a power greater, an action more powerful which would envelop capital and the State and subjugate them.

The redistribution of wealth through taxes is not the solution. It has ignored and punished the constructive effort, making the talent used for developing new businesses (which create more jobs and new wealth) dull.

There is nothing in the world which guarantees wealth distribution before its creation.

I should say that when people talk about capitalism it's a bit of a joke. There's no such thing. No country, no business class, has ever been willing to subject itself to the free market, free market discipline. Free markets are for others. Like, the Third World is the Third World because they had free markets rammed down their throat. Meanwhile, the enlightened states, England, the United States, others, resorted to massive state intervention to protect private power, and still do. That's right up to the present. I mean, the Reagan administration for example was the most protectionist in post-war American history. Virtually the entire dynamic economy in the United States is based crucially on state initiative and intervention: computers, the internet, telecommunication, automation, pharmaceutical, you just name it. Run through it, and you find massive ripoffs of the public, meaning, a system in which under one guise or another the public pays the costs and takes the risks, and profit is privatized. That's very remote from a free market. Free market is like what India had to suffer for a couple hundred years, and most of the rest of the Third World.

Who would have planted the cane, run the mills and funded the colony if they had gone to battle?

Corruption undermines public confidence in our country and institutions. It is a huge cost to the economy. Combating it will take courage, determination and perseverance. The most effective means of doing it is by creating a climate not receptive to corruption.

How does America find its way in this new, global economy? What will our place in history be? Like so much of the American story, once again, we face a choice. Once again, there are those who believe that there isn't much we can do about this as a nation. That the best idea is to give everyone one big refund on their government-divvy it up by individual portions, in the form of tax breaks, hand it out, and encourage everyone to use their share to go buy their own health care, their own retirement plan, their own child care, their own education, and so on. In Washington, they call this the Ownership Society. But in our past there has been another term for it-Social Darwinism-every man or woman for him or herself. It's a tempting idea, because it doesn't require much thought or ingenuity. It allows us to say that those whose health care or tuition may rise faster than they can afford-tough luck. It allows us to say to the Maytag workers who have lost their job-life isn't fair. It let's us say to the child who was born into poverty-pull yourself up by your bootstraps. And it is especially tempting because each of us believes we will always be the winner in life's lottery, that we're the one who will be the next Donald Trump, or at least we won't be the chump who Donald Trump says: 'You're fired!' But there is a problem. It won't work. It ignores our history. It ignores the fact that it's been government research and investment that made the railways possible and the internet possible. It's been the creation of a massive middle class, through decent wages and benefits and public schools that allowed us all to prosper. Our economic dependence depended on individual initiative. It depended on a belief in the free market; but it has also depended on our sense of mutual regard for each other, the idea that everybody has a stake in the country, that we're all in it together and everybody's got a shot at opportunity. That's what's produced our unrivaled political stability.

If the resources of different nations are treated as exclusive properties of these nations as wholes, if international economic relations, instead of being relations between individuals, become increasingly relations between whole nations organized as trading bodies, they inevitably become the source of friction and envy between whole nations. It is one of the most fatal illusions that, by substituting negotiations between states or organized groups for competition for markets or for raw materials, international friction would be reduced. This would merely put a contest of force in the place of what can only metaphorically be called the 'struggle' of competition and would transfer to powerful and armed states, subject to no superior law, the rivalries which between individuals had to be decided without recourse to force. Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.

Japan gets the most of ordinary people by organizing them to adapt and succeed. America, by getting out of their way so that they can adjust individually, allows them to succeed. It is not that Japan has no individualists and America no organizations, but the thrusts of the societies are different. Japan has distorted its economy and depressed its living standard in order to keep its job structure and social values as steady as possible. At the government's direction, the entire economy has tried to flex almost as one, in response to the ever-changing world. The country often seems like a family that becomes more tightly bound together when it must withstand war, emigration, or some other upheaval. America's strength is the opposite: it opens its doors and brings the world's disorder in. It tolerates social change that would tear most other countries apart. The openness encourages Americans to adapt as individuals rather than as a group.

Half a century ago women were at an infinite disadvantage in regard to their occupations. The idea that their sphere was at home, and only at home, was like a band of steel on society. But the spinning-wheel and the loom, which had given employment to women, had been superseded by machinery, and something else had to take their places. The taking care of the house and children, and the family sewing, and teaching the little summer school at a dollar per week, could not supply the needs nor fill the aspirations of women. But every departure from these conceded things was met with the cry, 'You want to get out of your sphere,' or, 'To take women out of their sphere;' and that was to fly in the face of Providence, to unsex yourself in short, to be monstrous women, women who, while they orated in public, wanted men to rock the cradle and wash the dishes. We pleaded that whatever was fit to be done at all might with propriety be done by anybody who did it well; that the tools belonged to those who could use them; that the possession of a power presupposed a right to its use.

What is more important is that these are not separate or distinct threats. When we scratch the surface, we find them closely connected and interrelated. We are 1,000 people here today in this august hall. Imagine for a moment that we represent the world's population. These 200 people on my left would be the wealthy of the world, who consume 80 per cent of the available resources. And these 400 people on my right would be living on an income of less than $2 per day. This underprivileged group of people on my right is no less intelligent or less worthy than their fellow human beings on the other side of the aisle. They were simply born into this fate. In the real world, this imbalance in living conditions inevitably leads to inequality of opportunity, and in many cases loss of hope. And what is worse, all too often the plight of the poor is compounded by and results in human rights abuses, a lack of good governance, and a deep sense of injustice. This combination naturally creates a most fertile breeding ground for civil wars, organized crime, and extremism in its different forms. In regions where conflicts have been left to fester for decades, countries continue to look for ways to offset their insecurities or project their 'power'. In some cases, they may be tempted to seek their own weapons of mass destruction, like others who have preceded them.

The United States is deeply in debt -- that was part of the whole Reagan/Bush program, in fact: to put the country so deeply in debt that there would be virtually no way for the government to pursue programs of social spending anymore. And what 'being in debt' really means is that the Treasury Department has sold a ton of securities -- bonds and notes and so on -- to investors, who then trade them back and forth on the bond market. Well, according to the Wall Street Journal, by now about $150 billion a day worth of U.S. Treasury securities alone is traded this way. The article then explained what this means: it means that if the investing community which holds those securities doesn't like any U.S. government policies, it can very quickly sell off just a tiny signal amount of Treasury bonds, and that will have the automatic effect of raising the interest rate, which then will have the further automatic effect of increasing the deficit. Okay, this article calculated that if such a 'signal' sufficed to raise the interest rate by 1 percent, it would add $20 billion to the deficit overnight -- meaning if Clinton (say in someone's dream) proposed a $20 billion social spending program, the international investing community could effectively turn it into a $40 billion program instantly, just by a signal, and any further moves in that direction would be totally cut off.

...so long as power remains privately concentrated, everybody, everybody, has to be committed to one overriding goal: and that's to make sure that the rich folk are happy -- because unless they are, nobody else is going to get anything. So if you're a homeless person sleeping in the streets of Manhattan, let's say, your first concern must be that the guys in the mansions are happy -- because if they're happy, then they'll invest, and the economy will work, and things will function, and then maybe something will trickle down to you somewhere along the line. But if they're not happy, everything's going to grind to a halt, and you're not even going to get anything trickling down.

Remember, every business firm, like even a mom and pop grocery store, is a market imperfection. A firm is defined in economic theory as a market imperfection introduced to deal with transaction costs. And the sort of theory is that the imperfections, the firms, are kinda like little islands in a free market sea. But the problem with that is that the sea doesn't remotely resemble a free market, and the islands are bigger than the sea; so that raises some questions about the picture. But these market imperfections, like a firm, or a transnational corporation, or a strategic alliance among them, this is a form of administering interchanges. And there's a real question about whether we want to accept that. Why, for example, should the international socioeconomic system, or for that matter our own society, be in the hands of unaccountable private tyrannies? That's a decision, it's not a law of nature.

The art and mystery of banks... is established on the principle that 'private debts are a public blessing.' That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures, and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have exempted them by law from the repayment of these debts beyond a give proportion (generally estimated at one-third). And to fill up the measure of blessing, instead of paying, they receive an interest on what they owe from those to whom they owe; for all the notes, or evidences of what they owe, which we see in circulation, have been lent to somebody on an interest which is levied again on us through the medium of commerce. And they are so ready still to deal out their liberalities to us, that they are now willing to let themselves run in our debt ninety millions more, on our paying them the same premium of six or eight per cent interest, and on the same legal exemption from the repayment of more than thirty millions of the debt, when it shall be called for.

If the debt which the banking companies owe be a blessing to anybody, it is to themselves alone, who are realizing a solid interest of eight or ten per cent on it. As to the public, these companies have banished all our gold and silver medium, which, before their institution, we had without interest, which never could have perished in our hands, and would have been our salvation now in the hour of war; instead of which they have given us two hundred million of froth and bubble, on which we are to pay them heavy interest, until it shall vanish into air... We are warranted, then, in affirming that this parody on the principle of 'a public debt being a public blessing,' and its mutation into the blessing of private instead of public debts, is as ridiculous as the original principle itself. In both cases, the truth is, that capital may be produced by industry, and accumulated by economy; but jugglers only will propose to create it by legerdemain tricks with paper.

First we couldn't afford shit now everything's free/so we loot, please don't shoot when you see

Now I was raised as a young black male/In order to get paid, forced to make crack sales

A crowded police docket is the surest of all signs that trade is brisk and money plenty.

America is built on a tilt and everything loose slides to California.

Captains of Industry.

In our seeking for economic and political progress, we all go up - or else we all go down.

Nothing is more useless in developing a nation's economy than a gun, and nothing blocks the road to social development more than the financial burden of war. War is the arch enemy of national progress and the modern scourge of civilized men.

They did that when they tried to link Obama to Reagan early in the campaign. They're essentially assuming that people are too stupid to realize that this is a bad idea that won't save them any money at the pump... Hillary Clinton starts her rallies by saying we need jobs, jobs, jobs. Well, by the estimates of the Department of Transportation this will cost 300,000 jobs just this summer in the construction trade... It will bring repairs of our highways to a screeching halt. She talks about a findfall profits tax on the oil companies, which is a good idea: Obama and others support this as well. The problem is, that won't pay for this gas tax holiday because she's already said that the money from a windfall profits tax would be used to develop renewable energy. So she's spending that nine billion dollars twice. What she's hoping is that only elites will know any of this and that everybody else just won't care. The problem with this is that a lot of elites are superdelegates and they're not buying this.... It's a hail Mary pass, and what they're figuring is if they can run up a big victory in Indiana with this pander, and a lot of people drive long distances in Indiana, then the superdelegates will figure, Hey, maybe the best pander is the best ticket in the fall and that Obama is too hung up on the merits of these issues, the substance of these issues instead of the politics of the issues that we need to win in the old-fashioned way. That might work with the superdelegates even though they don't agree with her on the merits of the gas tax. There are a lot of what are called low-information voters. They're really not reading the unanimous newspaper editorials against this.... The thing that's so onious about this idea is that there are other kinds of relief. You could get a tax credit for people at the low end of the income scale. You could give them other forms of relief. This is the single worst kind of relief because it's terrible for global warming, terrible for foreign policy, and terrible for jobs. It's just unfortunate that she had to embrace what people agree is the single worst policy idea of the entire campaign.

...Board of Directors have to make certain kinds of decisions, and those decisions are pretty narrowly constrained. They have to be committed to increasing profit share and market share. That means they're going to be forced to try to limit wages, to limit quality, to use advertising in a way that sells goods even if the product is lousy. Who tells them to do this? Nobody. But if they stopped doing it, they'd be out of business. Similarly, if an editorial writer for the New York Times were to start, say, telling the truth about the Panama invasion -- which is almost inconceivable, because to become an editorial writer you'd already have gone through a filtering process which would weed out the non-conformists -- well, the first thing that would happen is you'd start getting a lot of angry phone calls from investors, owners, and other sectors of power. That would probably suffice. If it didn't, you'd simply see the stock start falling. And if they continued with it systematically, the New York Times would be replaced by some other organ. After all, what is the New York Times? It's just a corporation. If investors and advertisers don't want to support it, and the government doesn't want to give it the special privileges and advantages that make it a 'newspaper of record,' it's out of business.

A hungry man is not a free man.

We live in a time when automation is ushering in a second industrial revolution, and the powers of the atom are about to be harnessed for ever greater production. We live at a time when even the ancient spectre of hunger is vanishing. This is the age of abundance! Never in history has there been such an opportunity to show what we can do to improve the quality of living now that the old, terrible, grinding anxieties of daily bread, of shelter and raiment are disappearing.

Those who do not industrialize become hewers of wood and haulers of water.

What most astonishes me in the United States, is not so much the marvelous grandeur of some undertakings, as the innumerable multitude of small ones.

Countries, therefore, when lawmaking falls exclusively to the lot of the poor cannot hope for much economy in public expenditure; expenses will always be considerable, either because taxes cannot touch those who vote for them or because they are assessed. in a way to prevent that.

Trade is the natural enemy of all violent passions. Trade loves moderation, delights in compromise, and is most careful to avoid anger. It is patient, supple, and insinuating, only resorting to extreme measures in cases of absolute necessity. Trade makes men independent of one another and gives them a high idea of their personal importance: it leads them to want to manage their own affairs and teaches them to succeed therein. Hence it makes them inclined to liberty but disinclined to revolution.

We are accused of all sorts of terrible things, of us wanting to undermine your market, of dumping and so forth. There was no such talk before, but when you had your recession, there were people who wanted to put the whole blame on the Russians. All these fables of us being such terrible devils are not well founded. We want to trade in earnest and well.

Russia is not an enemy. It is a friendly neighboring state and we have nothing to fear as we are handing our companies over to Russian ownership.

The goal to strive for is a poor government but a rich people.

Our Government springs from and was made for the people - not the people for the Government. To them it owes allegiance; from them it must derive its courage, strength, and wisdom. But while the Government is thus bound to defer to the people, from whom it derives its existence, it should, from the very consideration of its origin, be strong in its power of resistance to the establishment of inequalities. Monopolies, perpetuities, and class legislation are contrary to the genius of free government, and ought not to be allowed. Here there is no room for favored classes or monopolies; the principle of our Government is that of equal laws and freedom of industry. Wherever monopoly attains a foothold, it is sure to be a source of danger, discord, and trouble. We shall but fulfill our duties as legislators by according 'equal and exact justice to all men,' special privileges to none.

The life of a republic lies certainly in the energy, virtue, and intelligence of its citizens; but it is equally true that a good revenue system is the life of an organized government. I meet you at a time when the nation has voluntarily burdened itself with a debt unprecedented in our annals. Vast as is its amount, it fades away into nothing when compared with the countless blessings that will be conferred upon our country and upon man by the preservation of the nation's life. Now, on the first occasion of the meeting of Congress since the return of peace, it is of the utmost importance to inaugurate a just policy, which shall at once be put in motion, and which shall commend itself to those who come after us for its continuance. We must aim at nothing less than the complete effacement of the financial evils that necessarily followed a state of civil war.

I hold it the duty of the Executive to insist upon frugality in the expenditures, and a sparing economy is itself a great national resource.

The attempt to place the white population under the domination of persons of color in the South has impaired, if not destroyed, the kindly relations that had previously existed between them: and mutual distrust has engendered a feeling of animosity which leading in some instances to collision and bloodshed, has prevented that cooperation between the two races so essential to the success of industrial enterprise in the Southern States.

American business has just forgotten the importance of selling.

I don't think there was any Reagan revolution. This country is based, its economy is based, on free enterprise. The government's based on a constitutional democracy. And all Reagan did was to continue what Harry Truman did and George Washington started.

At present the peace of the world has been preserved, not by statesmen, but by capitalists.

We have brought a peace, and we trust we have brought a peace with honour, and I trust that that will now be followed by the prosperity of the country.

We are indeed a nation of shopkeepers.

There can be economy only where there is efficiency.

To tax the community for the advantage of a class is not protection: it is plunder.

Corporations are neither physical nor metaphysical phenomena. They are socioeconomic ploys - legally enacted game-playing - agreed upon only between overwhelmingly powerful socioeconomic individuals and by them imposed upon human society and its all unwitting members.

There are over 2 million cars standing in front of red lights with their engines going. Then we have over 2 million times approximately 100 horsepower being generated as they are idling there, so that we have something like 200 million horses jumping up and down and going nowhere. Now, we have to count that in our economy when we begin to get down to what is the efficiency of the economy.

Until the chance for political participation is there, we who are poor will continue to attack the soft part of the American system - its economic structure. We will build power through boycotts, strikes, new union - whatever techniques we can develop. These attacks on the status quo will come, not because we hate, but because we know America can construct a humane society for all its citizens - and that if it does not, there will chaos.

Brazil is not a serious country.

When there are such lands there should be profitable things without number.

Avarice, the spur of industry, is so obstinate a passion, and works its way through so many real dangers and difficulties, that it is not likely to be scared by an imaginary danger, which is so small, that it scarcely admits of calculation. Commerce, therefore, in my opinion, is apt to decay in absolute governments, not because it is there less secure, but because it is less honourable.

Everything in the world is purchased by labor.

There ain't no ticks like poly-ticks. Bloodsuckers all.

It is part of the general pattern of misguided policy that our country is now geared to an arms economy which was bred in an artificially induced psychosis of war hysteria and nurtured upon an incessant propaganda of fear. While such an economy may produce a sense of seeming prosperity for the moment, it rests on an illusionary foundation of complete unreliability and renders among our political leaders almost a greater fear of peace than is their fear of war.

Politics is the reflex of the business and industrial world.