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.

I hear America sometimes playfully accused of sending you all your storms, and am in the habit of parrying the charge by alleging that we are enabled to do this because, in virtue of our protective system, we can afford to make better bad weather than anybody else. And what wiser use could we make of it than to export it in return for the paupers which some European countries are good enough to send over to us who have not attained to the same skill in the manufacture of them?

Government . . . was not founded to create jobs. Create your own job. Be an individual.

The most serious and universal problem is the growing chasm between the richest and poorest people on earth. Citizens of the ten wealthiest countries are now seventy-five times richer than those who live in the ten poorest ones, and the separation is increasing every year, not only between nations but also within them.

Examine the struggle to not only establish a free republic, but to give it the economic strength and governmental structure that would allow it to prosper.

Today, under George W. Bush, there are two Americas, not one: One America that does the work, another that reaps the reward. One America that pays the taxes, another America that gets the tax breaks. One America - middle-class America - whose needs Washington has long forgotten, another America - narrow-interest America - whose every wish is Washington's command. One America that is struggling to get by, another America that can buy anything it wants, even a Congress and a president.

Millionaires in this country don't need additional tax cuts.

Hitler also anticipated modern economic policy . . . by recognizing that a rapid approach to full employment was only possible if it was combined with wage and price controls. That a nation oppressed by economic fear would respond to Hitler as Americans did to F.D.R. is not surprising.

All my adult life I have seen British governments driven off their virtuous pursuit of low inflation by market problems or political pressures. I was under no illusions when I took Britain into the ERM. I said at the time that membership was no soft option. The soft option, the devaluer's option, the inflationary option, that would in my opinion be a betrayal of Britain's future.

Where self-interest is suppressed, it is replaced by a burdensome system of bureaucratic control that dries up the wellspring of initiative and creativity.

Left to its own devices the market is capable of the most miraculous of inventions and the silliest of self-delusions. It is an extreme romantic. It also has a real purpose - the same one it has always had. That is to organize the supply and exchange of goods or to finance the production of goods - thus facilitating and financing the economy. But the market cannot achieve in a regular and lasting manner its own purpose because it is only an unconscious and abstract mechanism. The factor which must be added in order to create the restraint, balance, and consciousness necessary for long-term prosperity is human leadership. That leadership takes the form of effective regulation.

[G]iven our inability over the past two decades to deal with an unbreakable chain of unemployment, debt, inflation and no real growth, we have drifted farther and farther out into a cold, unfriendly, confusing sea. The new certitude of those in positions of authority - those out of the water - is that the certain answer is to cut away the life preservers.

Canada was built from its very beginnings on the belief that public leadership in the economy and on social issues would be as effective and cheap as anything done by the private sector.

We seem to be unable to allow ourselves the dignity of engaging in this sort of straightforward reconsideration of our acts. After all, questioning is the great strength of democracy; the ability to doubt without losing face. Instead we charge on, chanting 'Free Trade - Prosperity', the way in 1212 on the Children's Crusade they must have chanted 'Jesus and Jerusalem!' Most were snatched up before they could reach the coast and sold into slavery or sent across the Mediterranean, again to be slaves.

The old cliche about having all your eggs in one basket takes on new meaning with Canada and the United States, because there is something even more wrong about having all your eggs in someone else's basket. It is worse still if that country is much larger than you and worst of all if they don't have all their eggs in your basket. This is not a relationship. It is a dependency. Canada's survival will depend largely on its ability to change that dependency back into a relationship. And one of the key factors in doing that will be the redistribution of our trade. But we can't do that if we have no politicians willing to take the lead.

As you would expect when individualism is based only on opportunity, no one asks what happens to those who have neither the financial nor the political clout to exercise their tiny portion of that opportunity.

Ten per cent of our neighbours survive on charity. 10 per cent of Canadians eat through charity. 10 per cent. Surely if you were prime minister or minister of trade or of industry, you would wake up each day thinking that, for reasons that escape you, the central policy chosen to drive the economy is not working. It is not working because it is not meeting the needs of a democracy in which legitimacy lies with the citizenry.

Don't see it as supporting their economy, but as burning their crops.

[Vietnam] only made billionaires out of millionaires. [Iraq] is making trillionaires out of billionaires. Now I call that progress.

'They forget that although our economy has been doing well, it is still narrow and fragile and it will take a long time before we can compete fully with the developed nations.'

If we are to prevent megatechnics from further controlling and deforming every aspect of human culture, we shall be able to do so only with the aid of a radically different model derived directly, not from machines, but from living organisms and organic complexes (ecosystems). What can be known about life only through the process of living - and so is part of even the humbles organisms - must be added to all the other aspects that can be observed, abstracted, measured. ... Once an organic world picture is in the ascendant, the working aim of an economy of plenitude will be not to feed more human functions into the machine, but to develop further man's incalculable potentialities for self-actualization and self-transendence, taking back into himself deliberately many of the activities he has too supinely surrendered into the mechanical system.

As opposed to [megatechnics], an organic system directs itself to qualitative richness, amplitude, spaciousness, free from quantitative pressure and crowding, since self-regulation, self-correction, and self-propulsion are as much an integral property of organisms as nutrition, reproduction, growth, and repair. Balance, wholeness, completeness, continuous interplay between inner and outer, the subjective and the objective aspects of existence are identifying characteristics of the organic model; and the general name for an economy based on such a model is an economy of plenitude.

[George W.] Bush explained that he wasn't willing to take the steps outlined in the Kyoto accords - steps that both the scientific world and the international political community had agreed, with a stunning degree of unanimity, were necessary for the future viability of the earth - because he wasn't willing to jeopardize the rate of growth of the American economy. In what sense is this a rational position?

[A]s things now stand, the case that capitalism will make the world - not just the West - materially better off has simply not been convincingly demonstrated. Indeed, with almost 70 per cent of the world's people experiencing a decline in their real incomes in recent years, the opposite appears to be true. The wanton celebration of market capitalism while so many people throughout the world are lacking basic food and shelter seems, if not downright vulgar, at least a little insensitive.

[W]e have things fundamentally backwards today: we let the needs of the economy dictate the nature of our society, while we should let the needs of our society determine the nature of our economy.

The only certain fact about Russian affairs under the Soviet regime with regard to which all people agree is: that the standard of living of the Russian masses is much lower than [...] the paragon of capitalism, the United States of America. If we were to regard the Soviet regime as an experiment, we would have to say that the experiment has clearly demonstrated the superiority of capitalism and the inferiority of socialism.

Don't you think that's the way to persuade more companies to come to this region and get more jobs-because I want them-for the people who are unemployed. Not always standing there as moaning minnies. Now stop it!

From France to the Phillipines, from Jamaica to Japan, from Malaysia to Mexico, from Sri Lanka to Singapore, privatisation is on the move...The policies we have pioneered are catching on in country after country. We Conservatives believe in popular capitalism-believe in a property-owning democracy. And it works! ... The great political reform of the last century was to enable more and more people to have a vote. Now the great Tory reform of this century is to enable more and more people to own property. Popular capitalism is nothing less than a crusade to enfranchise the many in the economic life of the nation. We Conservatives are returning power to the people. That is the way to one nation, one people.

Let us remain attached to the land... In the country, there are stability, common sense and strong religious convictions.

The picture I have painted today may have seemed somewhat grim. Let me conclude by telling you why I have hope. I have hope because the positive aspects of globalization are enabling nations and peoples to become politically, economically and socially interdependent, making war an increasingly unacceptable option. Among the 25 members of the European Union, the degree of economic and socio-political dependencies has made the prospect of the use of force to resolve differences almost absurd. The same is emerging with regard to the Organization for Security and Co-operation in Europe, with some 55 member countries from Europe, Central Asia and North America. Could these models be expanded to a world model, through the same creative multilateral engagement and active international cooperation, where the strong are just and the weak secure?

'The economy was getting so bad, I had to lay myself off.' - Old Ways (1986)

The consistent anarchist, then, should be a socialist, but a socialist of a particular sort. He will not only oppose alienated and specialized labor and look forward to the appropriation of capital by the whole body of workers, but he will also insist that this appropriation be direct, not exercised by some elite force acting in the name of the proletariat.

For example, take Suharto's Indonesia, which is a brutal, murderous state. I think Canada was supporting it all the way through, because it was making money out of the situation. And we can go around the world. Canada strongly supported the US invasion of South Vietnam, the whole of Indochina. In fact Canada became the per capita largest war exporter, trying to make as much money as it could from the murder of people in Indochina. In fact, I'd suggest that you look back at the comment by a well known and respected Canadian diplomat, I think his name was John Hughes, some years ago, who defined what he called the Canadian idea, namely 'we uphold our principles but we find a way around them'. Well, that's pretty accurate. And Canada is not unique in this respect, maybe a little more hypocritical.

The elaborate financial interdependence of the modern world has grown up in spite of ourselves. Men are fundamentally just as disposed as they were at any time to take wealth that does not belong to them. But their relative interest in the matter has changed. In very primitive conditions robbery is a moderately profitable enterprise. Where the rewards of labor are small and uncertain, and where all wealth is portable, the size of a man's wealth depends a good deal on the size of his club and the agility with which he wields it. But to the man whose wealth so largely depends upon his credit, dishonesty has become as precarious and profitless as honest toil was in more primitive times. The instincts of the City man may at bottom be just as predatory as those of the robber baron, but taking property by force has been rendered impossible by the force of commercial events.

The prosperity of a people depends upon such facts as the natural wealth of the country in which they live, their social discipline and industrial character, the result of generations, of centuries, it may be, of tradition. In addition it depends upon a special technical capacity for such-and-such a manufacture, a special aptitude for meeting the peculiarities of such-and-such a market, the efficient equipment of elaborately constructed workshops, and the existence of a population trained to given trades.

The more our commercial system gains in complication, the more does the common prosperity of us all come to depend upon the due performance of all contracts. Commercial development is broadly illustrating one profound truth: that the real basis of social morality is self-interest. If the subject of rivalry between nations is business, the code which has come to dominate business must necessarily come to dominate the conduct of governments.

The economic difficulty of the modern world is not shortage of materials but the organization of their exchange and distribution; distress arises, not from scarcity but from dislocation and maladjustment.

To give the devil his due, he restored justice, as well distributive as commutative, almost to it's ancient dignity and splendour; the judges without covetousness discharging their duties according to law and equity... His own court also was regulated according to a severe discipline; here no drunkard, nor whoremonger, nor any guilty of bribery, was to be found, without severe punishment. Trade began again to prosper; and in a word, gentle peace to flourish all over England.

This new knowledge economy will rely heavily on knowledge workers. ...the most striking growth will be in 'knowledge technologists:' computer technicians, software designers, analysts in clinical labs, manufacturing technologists, paralegals. ...They are not, as a rule, much better paid than traditional skilled workers, but they see themselves as 'professionals.' Just as unskilled manual workers in manufacturing were the dominant social and political force in the 20th century, knowledge technologists are likely to become the dominant social--and perhaps also political--force over the next decades. -- 'The next society' Economist.com (November 2001)

Capitalism is being attacked not because it is inefficient or misgoverned but because it is cynical. And indeed a society based on the assertion that private vices become public benefits cannot endure, no matter how impeccable its logic, no matter how great its benefits. -- The Practice of Management (1954)

If war production should remain the only way out of a long-term depression, industrial society would be reduced to the choice between suicide through total war or suicide through total depression. Note: compare Dwight Eisenhower's January, 1961 Farewell Speech Concept of the Corporation (1945)

For every job, so many men so many men no-one needs.

I don't think it is right to let OPEC run roughshod over the American consumer and we make no comment other than to say, 'Gosh, we have a lot on our plate.'

Depression is when you're out of work. A recession is when your neighbor's out of work. Recovery is when Carter's out of work.

Any great nation that goes off the gold standard ends being a great nation.

Reagan bolstered the U.S. military might to ruin the Soviet economy, and he achieved his goal.

During the arduous period of the Cold War, President Reagan showed great leadership and contributed tremendously to the advancement of democracy and free-market economy. In addition, President Reagan always placed a top priority on the maintenance of a sound Japan-U.S. alliance.

Plausible as the idea of the United States of Europe as a peace arrangement may seem to some at first glance, it has on closer examination not the least thing in common with the method of thought and the standpoint of social democracy . . . At the present stage of development of the world market and of world economy, the conception of Europe as an isolated economic unit is a sterile concoction of the brain. Europe no more forms a special unit within world economy than does Asia or America.

In a capitalist economy such as ours, markets correct. Remember that word: 'correct'. Businesses, out of necessity, correct their mistakes. Can I give you an example of something that does not correct its mistakes very often, if ever? Bureaucracies.

I strongly disagree with the President's characterization today of NAFTA as a 'success', and with his call on Congress to pass CAFTA this year. These comments are out of touch with American businesses and workers who have been forced to compete on an uneven playing field for years under bad deals like NAFTA.

I voted against NAFTA, GATT, and Permanent Most Favored Nation status for China, in great part because I felt they were bad deals for Wisconsin businesses and Wisconsin workers. At the time I voted against those agreements, I thought they would result in lost jobs for my state. But, Mr. President, even as an opponent of those trade agreements, I had no idea just how bad things would be.

We live in a capitalist economy, and I have no particular objection to honorable self-interest. We cannot hope to make the needed, drastic improvement in primary and secondary education without a dramatic restructuring of salaries. In my opinion, you cannot pay a good teacher enough money to recompense the value of talent applied to the education of young children. I teach an hour or two a day to tolerably well-behaved near-adults-and I come home exhausted. By what possible argument are my services worth more in salary than those of a secondary-school teacher with six classes a day, little prestige, less support, massive problems of discipline, and a fundamental role in shaping minds. (In comparison, I only tinker with intellects already largely formed.)

Our discombobulated lives need to sink some anchors in numerical stability. (I still have not recovered from the rise of a pound of hamburger at the supermarket to more than a buck.)

I would love to see the British film industry get back on its feet again.

In our complex industrial civilization of today the peace of righteousness and justice, the only kind of peace worth having, is at least as necessary in the industrial world as it is among nations. There is at least as much need to curb the cruel greed and arrogance of part of the world of capital, to curb the cruel greed and violence of part of the world of labor, as to check a cruel and unhealthy militarism in international relationships.

We were laboring under a dropsical fulness of circulating medium. Nearly all of it is now called in by the banks, who have the regulation of the safety-valves of our fortunes, and who condense and explode them at their will. Lands in this State cannot now be sold for a year's rent; and unless our Legislature have wisdom enough to effect a remedy by a gradual diminution only of the medium, there will be a general revolution of property in this state.

But it will be asked, are we to have no banks? Are merchants and others to be deprived of the resource of short accommodations, found so convenient? I answer, let us have banks; but let them be such as are alone to be found in any country on earth, except Great Britain. There is not a bank of discount on the continent of Europe (at least there was not one when I was there) which offers anything but cash in exchange for discounted bills.

It is said that our paper is as good as silver, because we may have silver for it at the bank where it issues. This is not true. One, two, or three persons might have it; but a general application would soon exhaust their vaults, and leave a ruinous proportion of their paper in its intrinsic worthless form.

Nearly all of it is now called in by the banks, who have the regulation of the safety-valves of our fortunes, and who condense and explode them at their will.

In order to be able to meet a general combination of the banks against us in a critical emergency, could we not make a beginning towards an independent use of our own money, towards holding our own bank in all the deposits where it is received, and letting the treasurer give his draft or note for payment at any particular place, which, in a well-conducted government, ought to have as much credit as any private draft or bank note or bill, and would give us the same facilities which we derive from the banks?

Put down all banks, admit none but a metallic circulation that will take its proper level with the like circulation in other countries, and then our manufacturers may work in fair competition with those of other countries, and the import duties which the government may lay for the purposes of revenue will so far place them above equal competition.