Economy Quotes - Page 19

• Some writers maintain arithmetic to be only the only sure guide in political economy; for my part, I see so many detestable systems built upon arithmetical statements, that I am rather inclined to regard that science as the instrument of national calamity.

  Jean-Baptiste Say

  Political, Guides, Arithmetic

  Jean Baptiste Say, Clement Cornell Biddle (1851). “A treatise on political economy”, p.188

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• Wherefore it is impossible to succeed in comparing wealth of different eras or different nations. This, in political economy, like squaring the circle in mathematics, is impracticable, for want of a common mean or measure to go by.

  Jean-Baptiste Say

  Mean, Circles, Political

  Jean Baptiste Say (1827). “A treatise on political economy: or, The production, distribution and consumption of wealth”, p.191

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• The well-being of the British people and the health of our economy are far more important than any government's commitment to a particular strategy, but to change course now would be fatal to the whole counter-inflation strategy.

  Geoffrey Howe

  Commitment, Government, People

  "Chancellor determined not to change course in the fight against inflation". The Times, March 11, 1981.

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• American [public] schools are failing because they are organized according to a bureaucratic, monopolistic model; their organizing principle is basically the same as that of a socialist economy.

  David Boaz

  School, Socialist Economy, Principles

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• It has been very humbling and gratifying to have these men as our role models. Your generation enabled America to close out the twentieth century as the greatest nation in the history of mankind, the only remaining superpower, the world's leading economy and the world's most respected and feared military force in the world - respected by our friends and allies, feared by our adversaries.

  Eric Shinseki

  Military, Men, America

  "Rising Sons: The Japanese American GIs Who Fought for the United States". Book by Bill Yenne, 2007.

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• The focus of all life is its economy, the mode through which every living creature produces its material existence. I know no other criterion for the evaluation of social life except that of social economy. In society, just like anywhere else, the mode of production is the focus around which revolve all the modes of life: in the historical life of conscious beings, it is also the focus of all modes of consciousness.

  Moses Hess

  Focus, Historical, Evaluation

  "Briefwechsel". Book by Moses Hess, p. 253, 1959.

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• Accidents have already become an important factor restricting the development of a harmonious economy and society, and have attracted the strong attention of the Chinese government and society

  Li Yizhong

  Strong, Government, Chinese

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• I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral, ... You have to be looking at the economy going forward and that changes as additional data comes in.

  Michael H. Moskow

  Thinking, Data, Neutrality

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• You have given us something more than money, you have given us a lot of your sons, your children that were killed beside our own children in Iraq. Iraqi people are insistent on going along the path for their economy and their security, but we do need the help of other countries who will help us, to stand beside us.

  Ibrahim al-Jaafari

  Country, Children, Son

  "CNN Live Today", www.cnn.com. June 24, 2005.

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• What is doing the damage is the fact that the U.K. is pulling in more imports, which shows the continued strength of the economy and the strength of sterling.

  Adam Cole

  Damage, Facts, Importance

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• When the press writes scare stories about the global labor supply draining jobs from rich to poor places, the story is usually presented as a "race to the bottom" simply in terms of wages. Capitalism supposedly looks for labor wherever labor is cheapest. This story is half wrong. A kind of cultural selection is also at work, so that jobs leave high-wage countries like the United States and Germany, but migrate to low-wage economies with skilled, sometimes overqualified workers.

  Richard Sennett

  Country, Jobs, Writing

  Richard Sennett (2007). “The Culture of the New Capitalism”, p.87, Yale University Press

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• The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.

  Joan Robinson

  Nature, Money, Work

  Joan Robinson (1967). “Essay on Marxian Economics”, p.1, Springer

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• Have I ever remarked on how completely ridiculous it is to ask high school students to decide what they want to do with the rest of their lives and give them nearly no support in doing so? Support like, say, spending a day apiece watching twenty different jobs and then another week at their top three choices, with salary charts and projections and probabilities of graduating that subject given their test scores? The more so considering this is a central allocation question for the entire economy?

  Eliezer Yudkowsky

  Jobs, School, Giving

  "Eliezer_Yudkowsky comments on Memetic Hazards in Videogames - Less Wrong". lesswrong.com. September 10, 2010.

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• If the amount of money going into the war economy were invested in landscape restoration, we would be in a far more positive position. It may get a little dire before we pull together, but I think when the prosperous nations, and in particular the US, realise they're wrecking their own kids' lives, there will be a mass change in value. It will be a difficult century, and ugly, but I don't think that in the end people are so stupid as to kill themselves off.

  Kim Stanley Robinson

  War, Stupid, Kids

  "Future tense". Interview with Sarah Crown, www.theguardian.com. September 14, 2005.

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• I don't mean to imply that we are in imminent danger of being wiped off the face of the earth - at least, not on account of global warming. But climate change does confront us with profound new realities. We face these new realities as a nation, as members of the world community, as consumers, as producers, and as investors. And unless we do a better job of adjusting to these new realities, we will pay a heavy price. We may not suffer the fate of the dinosaurs. But there will be a toll on our environment and on our economy, and the toll will rise higher with each new generation.

  Eileen Claussen

  Jobs, Mean, Fate

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• The invocation of social necessity should alert us. It contains the seeds for Marx's critique of political economy as well as for his dissection of capitalism.

  David Harvey

  Political, Social, Should

  "The Limits To Capital". Book by David Harvey, 1982.

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• Marx set out to resolve the contradictions and to correct the errors in classical political economy. In this he thought he had succeeded very well. Judging by the sound and the fury of the controversy surrounding his interpretations, he either succeeded too well or deluded himself to the success of his enterprise.

  David Harvey

  Errors, Judging, Political

  "The Limits To Capital". Book by David Harvey, 1982.

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• Production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.

  Immanuel Wallerstein

  Men, Long, World

  Immanuel Wallerstein (1979). “The Capitalist World-Economy”, p.15, Cambridge University Press

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• The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies - not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.

  Ha-Joon Chang

  People, Political, Democracy

  "The root of Europe's riots" by Ha-Joon Chang, www.theguardian.com. September 28, 2012.

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• In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

  Paul Ormerod

  Unemployment, Levels, Facts

  "The Death of Economics". Book by Paul Ormerod, 1994.

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• At 2 per cent growth a year, an economy doubles in size in just thirty years.

  Paul Ormerod

  Years, Growth, Size

  "The Death of Economics". Book by Paul Ormerod, 1994.

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• The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

  Paul Ormerod

  Levels, Behavior, Individual

  "The Death of Economics". Book by Paul Ormerod, 1994.

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• Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.

  Paul Ormerod

  Example, Unemployment, Levels

  "The Death of Economics". Book by Paul Ormerod, 1994.

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• The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies.

  Paul Ormerod

  Views, World, Economics

  "The Death of Economics". Book by Paul Ormerod, 1994.

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• Many Europeans, while admiring the strength and power of the American economy, undoubtedly feel that the system of social values which prevails in the United States, manifested in the acute problems evident in the inner cities and the level of violent crime, for example, leaves much to be desired.

  Paul Ormerod

  Social Values, Cities, United States

  "The Death of Economics". Book by Paul Ormerod, 1994.

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