quotes tagged as "economics"
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"The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness."
— Terry Pratchett (Men at Arms)
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness."
— Terry Pratchett (Men at Arms)
"The thinking that has gotten us to where we are will be insufficient to solve the problems created in getting us here."
— Albert Einstein
— Albert Einstein
"The complexity of our present trouble suggests as never before that we need to change our present concept of education. Education is not properly an industry, and its proper use is not to serve industries, either by job-training or by industry-subsidized research. It's proper use is to enable citizens to live lives that are economically, politically, socially, and culturally responsible. This cannot be done by gathering or "accessing" what we now call "information" - which is to say facts without context and therefore without priority. A proper education enables young people to put their lives in order, which means knowing what things are more important than other things; it means putting first things first."
— Wendell Berry
— Wendell Berry
"We have always known that heedless self interest was bad morals, we now know that it is bad economics."
— Franklin D. Roosevelt
— Franklin D. Roosevelt
"You cannot bring about prosperity by discouraging thrift.
You cannot strengthen the weak by weakening the strong.
You cannot help the wage earner by pulling down the wage payer.
You cannot further the brotherhood of man by encouraging class hatred.
You cannot help the poor by destroying the rich.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by taking away man's initiative and independence.
You cannot help men permanently by doing for them what they could and should do for themselves."
— Abraham Lincoln
You cannot strengthen the weak by weakening the strong.
You cannot help the wage earner by pulling down the wage payer.
You cannot further the brotherhood of man by encouraging class hatred.
You cannot help the poor by destroying the rich.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by taking away man's initiative and independence.
You cannot help men permanently by doing for them what they could and should do for themselves."
— Abraham Lincoln
"...there were certain chapters when I stopped writing, saw the domestic situation I was in and thought, "I don't want to face this world, let's get back to the hellish one I'm imagining.""
— Alasdair Gray
— Alasdair Gray
"An economic system which can only expand or expire must be false to all that is human."
— Edward Abbey (Desert Solitaire)
— Edward Abbey (Desert Solitaire)
"Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before."
— Kim Stanley Robinson (Blue Mars)
— Kim Stanley Robinson (Blue Mars)
""We have not noticed how fast the rest has risen. Most of the industrialized world--and a good part of the nonindustrialized world as well--has better cell phone service than the United States. Broadband is faster and cheaper across the industrial world, from Canada to France to Japan, and the United States now stands sixteenth in the world in broadband penetration per capita. Americans are constantly told by their politicians that the only thing we have to learn from other countries' health care systems is to be thankful for ours. Most Americans ignore the fact that a third of the country's public schools are totally dysfunctional (because their children go to the other two-thirds). The American litigation system is now routinely referred to as a huge cost to doing business, but no one dares propose any reform of it. Our mortgage deduction for housing costs a staggering $80 billion a year, and we are told it is crucial to support home ownership, except that Margaret Thatcher eliminated it in Britain, and yet that country has the same rate of home ownership as the United States. We rarely look around and notice other options and alternatives, convinced that "we're number one.""
— Fareed Zakaria (The Post-American World)
— Fareed Zakaria (The Post-American World)
"To reverse the effects of civilization would destroy the dreams of a lot of people. There's no way around it. We can talk all we want about sustainability, but there's a sense in which it doesn't matter that these people's dreams are based on, embedded in, intertwined with, and formed by an inherently destructive economic and social system. Their dreams are still their dreams. What right do I -- or does anyone else -- have to destroy them.
At the same time, what right do they have to destroy the world?"
— Derrick Jensen (Endgame: Volume 1: The Problem of Civilization)
At the same time, what right do they have to destroy the world?"
— Derrick Jensen (Endgame: Volume 1: The Problem of Civilization)
"“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” "
— -Murray N. Rothbard
— -Murray N. Rothbard
tags:
economics
3 people liked it
"Everyone may be called "comrade," but some comrades have the power of life and death over other comrades."
— Thomas Sowell (Knowledge and Decisions)
— Thomas Sowell (Knowledge and Decisions)
tags:
economics
3 people liked it
"While the invisible hand looks after the private sector, the invisible foot kicks the public sector to pieces."
— Herman E. Daly
— Herman E. Daly
tags:
economics
2 people liked it
"To me, the conclusion that the public has the ultimate responsibility for the behavior of even the biggest businesses is empowering and hopeful, rather than disappointing. My conclusion is not a moralistic one about who is right or wrong, admirable or selfish, a good guy or a bad guy. My conclusion is instead a prediction, based on what I have seen happening in the past. Businesses have changed when the public came to expect and require different behavior, to reward businesses for behavior that the public wanted, and to make things difficult for businesses practicing behaviors that the public didn't want. I predict that in the future, just as in the past, changes in public attitudes will be essential for changes in businesses' environmental practices."
— Jared Diamond (Collapse: How Societies Choose to Fail or Succeed)
— Jared Diamond (Collapse: How Societies Choose to Fail or Succeed)
"As with our earlier worship of saints and facts, there is something silly about grown men and women striving to reduce their vision of themselves and of civilization to bean counting. The message of the competition/efficiency/marketplace Trinity seems to be that we should drop the idea of ourselves developed over two and a half millennia. We are no longer beings distinguished by our ability to think and to act consciously in order to affect our circumstances. Instead we should passively submit ourselves and our whole civilization -- our public structures, social forms and cultural creativity -- to the abstract forces of unregulated commerce. It may be that most citizens have difficulty with the argument and would prefer to continue working on the idea of dignified human intelligence. If they must drop something, they would probably prefer to drop the economists. "
— John Ralston Saul
— John Ralston Saul
tags:
economics
2 people liked it
"International business, once allowed to stalk uncontrolled, killed the local, the small, the quirky."
— Alexander McCall Smith (Love Over Scotland)
— Alexander McCall Smith (Love Over Scotland)
"The ideas of debtor and creditor as to what constitutes a good time never coincide."
— P.G. Wodehouse (Love Among the Chickens)
— P.G. Wodehouse (Love Among the Chickens)
"'Reconciliation means that those who have been on the underside of history must see that there is a qualitative difference between repression and freedom. And for them, freedom translates into having a supply of clean water, having electricity on tap; being able to live in a decent home and have a good job; to be able to send your children to school and to have accessible health care. I mean, what's the point of having made this transition if the quality of life of these people is not enhanced and improved? If not, the vote is useless.'
-archbishop Desmond Tutu, chair of South Africa's Truth and Reconciliation Committee, 2001"
— Naomi Klein
-archbishop Desmond Tutu, chair of South Africa's Truth and Reconciliation Committee, 2001"
— Naomi Klein
"What these men represented was not 'The West' but what was for this century a relatively new kind of monied class in America, a group devoid of social responsibilities because their ties to any one place had been so attenuated."
— Joan Didion (Vintage Didion)
— Joan Didion (Vintage Didion)
"Copyright law has got to give up its obsession with 'the copy.' The law should not regulate 'copies' or 'modern reproductions' on their own. It should instead regulate uses--like public distributions of copies of copyrighted work--that connect directly to the economic incentive copyright law was intended to foster."
— Lawrence Lessig (Remix: Making Art and Commerce Thrive in the Hybrid Economy)
— Lawrence Lessig (Remix: Making Art and Commerce Thrive in the Hybrid Economy)
"Many find in sex and economics the meaning of life and the reason of it all. The consequence of this is that the goal of life for many has become a relief of tension."
— Sachindra Kumar Majumdar
— Sachindra Kumar Majumdar
"Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature."
— Thomas Sowell (Basic Economics: A Citizens Guide to the Economy, Revised and Expanded)
— Thomas Sowell (Basic Economics: A Citizens Guide to the Economy, Revised and Expanded)
"In 1980 candidate Reagan asked whether we were better off than we had been 4 years earlier. In 1992 we will be asked whether we expect our children to live better than we do."
— Frank Levy & Richard J Murnane ("Slow Growth Politics," Santa Rosa Press Democrat)
— Frank Levy & Richard J Murnane ("Slow Growth Politics," Santa Rosa Press Democrat)
"An economist is a surgeon with an excellent scalpel and a rough-edged lancet, who operates beautifully on the dead and tortures the living."
— Nicholas Chamfort
— Nicholas Chamfort
"Das Spiel ist der Inbegriff demokratischer Lebensart. Es ist die letzt uns verbliebene Seinsform. Der Spieltrieb ersetzt die Religiosität, beherrscht die Börse, die Politik, die Gerichtssäle, die Pressewelt, und er ist es, der uns seit Gottes Tod mental am Leben hält."
— Juli Zeh (Spieltrieb.)
— Juli Zeh (Spieltrieb.)
"The working class had imposed upon them a sterile and authoritarian educational system which mirrored the ethos of the corporate workplace."
— Anthony M. Platt; Editor And Introduction
— Anthony M. Platt; Editor And Introduction
"A cap taxes entrepreneurs to look for breakthrough technologies at any price. A tax caps innovation."
— Dr. Gernot Wagner
— Dr. Gernot Wagner
"I do not intend to defend capitalism or capitalists. They, like everything human, have their defects. I only say their possibilities of usefulness are not ended.
Capitalism has borne the monstrous burden of the war and today still has the strength to shoulder the burdens of peace. ...
It is not simply and solely an accumulation of wealth, it is an elaboration, a selection, a co-ordination of values which is the work of centuries. ...
Many think, and I myself am one of them, that capitalism is scarcely at the beginning of its story."
— Benito Mussolini
Capitalism has borne the monstrous burden of the war and today still has the strength to shoulder the burdens of peace. ...
It is not simply and solely an accumulation of wealth, it is an elaboration, a selection, a co-ordination of values which is the work of centuries. ...
Many think, and I myself am one of them, that capitalism is scarcely at the beginning of its story."
— Benito Mussolini
"State ownership! It leads only to absurd and monstrous conclusions; state ownership means state monopoly, concentrated in the hands of one party and its adherents, and that state brings only ruin and bankruptcy to all."
— Benito Mussolini
— Benito Mussolini
"Christ represents originally: 1) men before God; 2) God for men; 3) men to man.
Similarly, money represents originally, in accordance with the idea of money: 1) private property for private property; 2) society for private property; 3) private property for society.
But Christ is alienated God and alienated man. God has value only insofar as he represents Christ, and man has value only insofar as he represents Christ. It is the same with money."
— Karl Marx (Economic and Philosophic Manuscripts of 1844)
Similarly, money represents originally, in accordance with the idea of money: 1) private property for private property; 2) society for private property; 3) private property for society.
But Christ is alienated God and alienated man. God has value only insofar as he represents Christ, and man has value only insofar as he represents Christ. It is the same with money."
— Karl Marx (Economic and Philosophic Manuscripts of 1844)
"The fields were fruitful, and starving men moved on the roads."
— John Steinbeck (The Grapes of Wrath)
— John Steinbeck (The Grapes of Wrath)
"It has been discovered that with a dull urban population, all formed under a mechanical system of State education, a suggestion or command, however senseless and unreasoned, will be obeyed if it be sufficiently repeated."
— Hilaire Belloc (An Essay on the Restoration of Property)
— Hilaire Belloc (An Essay on the Restoration of Property)
"1 billion people in the world are chronically hungry. 1 billion people are overweight."
— Mark Bittman (Food Matters: A Guide to Conscious Eating with More Than 75 Recipes)
— Mark Bittman (Food Matters: A Guide to Conscious Eating with More Than 75 Recipes)
"We shall not grow wiser before we learn that much that we have done was very foolish."
— Friedrich Hayek
— Friedrich Hayek
tags:
economics,
philosophy
1 person liked it
"The government is indeed an institution, but "the market" is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his own situation and taste."
— Thomas Sowell (Knowledge and Decisions)
— Thomas Sowell (Knowledge and Decisions)
tags:
economics
1 person liked it
"What then is the intellectual advantage of civilization over primitive savagery? It is not necessarily that each civilized man has more knowledge but that he requires far less."
— Thomas Sowell (Knowledge and Decisions)
— Thomas Sowell (Knowledge and Decisions)
tags:
economics
1 person liked it
"[Walmart]s largest innovation consists in getting rid of the central Fordist principle of paying the workers enough so that they can afford to buy what they manufacture. Instead, WalMart has pioneered the inverse principle: paying the workers so little that they cannot afford to shop anywhere other than at WalMart. It might even be said, not too hyperbolically, that WalMart has singlehandedly preserved the American economy from total collapse, in that their lowered prices are the only thing that has allowed millions of the “working poor” to retain the status of consumers at all, rather than falling into the “black hole” of total immiseration. WalMart is part and parcel of how the “new economy” has largely been founded upon transferring wealth from the less wealthy to the already-extremely-rich. "
— Steven Shaviro
— Steven Shaviro
"In a basic agricultural society, it's easy enough to swap five chickens for a new dress or to pay a schoolteacher with a goat and three sacks of rice. Barter works less well in a more advanced economy. The logistical challenges of using chickens to buy books on Amazon.com would be formidable."
— Charles Wheelan (Naked Economics: Undressing the Dismal Science)
— Charles Wheelan (Naked Economics: Undressing the Dismal Science)
"I hope that at least in the quieter atmosphere of the present it will be received as what it was meant to be, not as an exhortation to resistance against any improvement or experimentation, but as a warning that we should insist that any modification in our arrangements should pass certain tests (described in the central chapter on the Rule of Law) before we commit ourselves to courses from which withdrawal may be difficult."
— Friedrich August von Hayek
— Friedrich August von Hayek
" hope that at least in the quieter atmosphere of the present it will be received as what it was meant to be, not as an exhortation to resistance against any improvement or experimentation, but as a warning that we should insist that any modification in our arrangements should pass certain tests (described in the central chapter on the Rule of Law) before we commit ourselves to courses from which withdrawal may be difficult"
— Friedrich August von Hayek
— Friedrich August von Hayek
"What should have died along with communism is the belief that modern societies can be run on a single principle, whether that of planning under the general will or that of free-market allocations."
— Charles Taylor (The Ethics of Authenticity)
— Charles Taylor (The Ethics of Authenticity)
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