Central Economy Quotes & Sayings

Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy. — Abdul Aziz Al Ghurair

In an information economy, entrepreneurs master the science of information in order to overcome the laws of the purely physical sciences. They can succeed because of the surprising power of the laws of information, which are conducive to human creativity. The central concept of information theory is a measure of freedom of choice. The principle of matter, on the other hand, is not liberty but limitation- it has weight and occupies space. — George Gilder

History proves ... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse. — Ben Bernanke

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

The effects of illegal immigration aren't that different from those of legal immigration - an illiterate Central American farmer with a green card is just as unsuited for a 21st-century economy as an illiterate Central American farmer without a green card. — Mark Krikorian

Central planning inevitably leads to economic chaos and failure.
Friedrich Hayek called the delusion that a single person or a group
of government planners could possibly possess the knowledge to plan
an entire economy a "fatal conceit." The overwhelming historical
evidence is that the more freedom a nation has, the more economic
opportunities will exist and the more dynamic that nation's economy
will be. Likewise, the more regulations, controls, taxes, governmentrun
industries, protectionism, and other forms of interventionism that
exists, the poorer the country will become. — Ziad K. Abdelnour

[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

I actually think that the economy has got some positives. It's got the market. It's got consumer confidence and it's got banks throwing - I mean central bankers throwing money at it around the world. — Jack Welch

The tax relief package enacted in 2001 was central to pulling the economy out of the post 9-11 recession. It's the reason we've got low unemployment and have created more than two million jobs in the last year. — J. D. Hayworth

Every proposal I'm making, every idea I'm advancing has a single, central purpose: to revive a failing economy and give working Americans the help and security they need. — Dick Gephardt

Less than a decade after the explosion of the first atom bomb the megamachine had expanded to a point where it began to dominate key areas of the whole economy of the United States: its system of control reached beyond the airfields, the rocket sites, the bomb factories, the universities, to a hundred other related areas, tying the once separate and independent enterprises to a central organization whose irrational and humanly subversive policies ensured the still further expansion of the megamachine. Financial subventions, research grants, educational subsidies, all worked unceasingly for the 'Life, Prosperity, Health' of the new rulers, headed by Goliaths in brass armor bellowing threats of defiance and destruction at the entire world. In a short time, the original military-industrial-scientific elite became the supreme Pentagon of Power, for it incorporated likewise both the bureaucratic and the educational establishments. — Lewis Mumford

A "centrally planned economy" by definition discourages and despises participation by the masses. It's a bureaucratic oligarchy. — A.E. Samaan

The ways sexuality plays out in political economies is central. And Cambodia's political economy is organized around this notion of family. So lesbianism is actually perceived as being threatening to a degree that it would have not been, for example, under socialist East Germany. But it's one of the essential issues of women's freedom: Do you get to do want you want to do with your body? Not if you don't know what your body is for. — Anne Elizabeth Moore

Every totalitarian Communist considered themselves as a Socialist first and foremost. — A.E. Samaan

Given our inevitably incomplete knowledge about key structural aspects of an everchanging economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank needs to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. The decision makers then need to reach judgment about the probabilities, costs and benefits of the various possible outcomes under alternative choices for policy. — Alan Greenspan

Neither Fascist Italy nor Spain adopted eugenics as an ideology central to their form of government the way the National Socialist did. However, socialist and progressive nations such as Canada, Sweden, Denmark, Finland, and Norway did adopt and implement eugenics. This is because eugenics is the safety valve of a centrally planned economy. Central planners like John Maynard Keynes fear a population that is not as meticulously planned as the economy. They fear the unproductive sectors out-breeding the productive sectors of the population. This is also why Keynes was a lobbyist for the British eugenics movement both before and after The Holocaust. — A.E. Samaan

The problem started before World War I. The gold standard was working fairly well. But it broke down because of the war and what happened in the 1920s. And then the U.S. started to become so dominant in the world, with the dollar becoming the central currency after the 1930s, the whole world economy shifted. — Robert Mundell

Centralization is an abomination! Decentralize everything! Leave nothing to the central planners. — A.E. Samaan

Contrary to the general picture of the decline of Asia and the rise of the West, the Chinese economy was buoyant in the eighteenth century, developing its own local variations and with trade links across Southeast Asia. Silk, porcelain and tea from China continued to be in great demand in Europe (and in the American colonies) even though in 1760 the Chinese confined all Western traders to the port city of Canton. Tribute-paying neighbours as near as Burma, Nepal and Vietnam (and as far away as Java) upheld Beijing's solipsistic view that the Chinese emperor, presiding over the central kingdom of the world, had the right to rule 'all under heaven. — Pankaj Mishra

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months. — Marc Faber

The difference between civil servants and private businessmen is that when a central planner makes a mistake, he is likely to disrupt the whole economy and not just a single business. — Paul A. Cantor

It is ludicrous to believe that asset bubbles can only be recognized in hindsight," he wrote. "There are specific identifiers that are entirely recognizable during the bubble's inflation. One hallmark of mania is the rapid rise in the incidence and complexity of fraud ... . The FBI reports mortgage-related fraud is up fivefold since 2000." Bad behavior was no longer on the fringes of an otherwise sound economy; it was its central feature. — Michael Lewis

The Federal Reserve System had been established to prevent what actually happened. It was set up to avoid a situation in which you would have to close down banks, in which you would have a banking crisis. And yet, under the Federal Reserve system, you had the worst banking crisis in the history of the United States — Alan Ebenstein

The problems of the global economy are not based in perception, but in the reality of prices, balance sheets and income statements, vast concentrations of wealth and power, precarious systemic imbalances, ruthless exploitation, and command economies mismanaged by Central State/Bank policy and manipulation. — Charles Hugh Smith

Costa Rica, with its tourist-based economy and lack of a national army, has focused on keeping safe its beaches, parks and other public draws. It is one if the safest countries in Central America based on the number of homicides. — Laura Chinchilla

Beneficial in theory, so-called free trade agreements far too often have been detrimental to the United States economy and the manufacturing sector that forms its central pillar. — Dan Kildee

The desire to engineer humanity is a sign of a mind warped by megalomania and lust for power. — A.E. Samaan

The vagrant, the squatter, had been redrawn, yet qualitatively he/she remained the same: a piece of white trash on the margins of rural society. Observers recognized how the moving mass of undesirables in the constantly expanding West challenged democracy's central principle. California was a wake-up call. Anxious southerners focused attention not only on their slave society and slave economy, but on the ever-growing numbers of poor whites who made the permanently unequal top-down social order perfectly obvious. Who really spoke of equality among whites anymore? No one of any note. Let us put it plainly: on the path to disunion, the roadside was strewn with white trash. — Nancy Isenberg

A Central Bank official said that Q-coin did not affect the renminbi; it adds vibrancy to the economy. — Ma Huateng

The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy. — Stephen S. Roach

Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one. — Milton Friedman

Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist. — Jim Stanford

For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs. — Dalia Grybauskaite

During the 1970s and the 1980s, economic realities became increasingly central to international relations. Thus, the sub-field of international political economy (IPE) grew and became a major part of international relations. To quote Goldstein again, 'Scholars of IPE study trade relations and financial relations among nations and try to understand how nations have separated politically to create and maintain institutions that regulate the flow of international economic and financial institutions. — V N Khanna

The fateful moment for the Chinese economy, crippled by central planning and collectivized production, was when Deng Xiaoping, China's long-term leader after Mao's death, announced that the country would pursue "Socialism with Chinese characteristics," which is to say a market economy under an authoritarian technocracy. This was in 1977, as good a year as any for marking the birth of modern China. Deng and his associates undertook a job akin to that of a political bomb squad, laboriously dismantling most of the economic ideology installed by Mao without blowing up political continuity at the same time. That they succeeded is in many ways the single most important political fact of contemporary China. — Clay Shirky

"This compound should be available from most good drugstores." I got increasingly annoyed with this phrase because in the world I lived in, even ordinary soap was available only intermittently ... In an economy that operated by central planning, shortages of just about everything were commonplace." the author dexcribing life in Hungary in the 1950s under Communist Russian rule. — Andrew S. Grove

Egypt was rich in copper ore, which, as the base of bronze, had been valuable through the entire Meditarranean world. By 1150 B.C., however, the Iron Age had succeeded the bronze Age. Egypt had no iron and so lost power in the Asiatic countries where the ore existed; the adjustment of its economy to the new metal caused years of inflation and contributed to the financial distress of the central government. The pharaoh could not meet the expenses of his government; he had no money to pay the workers on public buildings, and his servants robbed him at every opportunity. Still a god in theory, he was satirized in literature and became a tool of the oligarchy. During the centuries after the twelfth B.C., the Egyptian state disintegrated into local units loosely connected by trade. Occasional spurts of energy interrupted the decline, but these were short-lived and served only to illuminate the general passivity. — Norman F. Cantor

In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry. — Abdul Aziz Al Ghurair

Most people are oblivious to F.A. Hayek's insight that the critical information needed to run an economy - or even 15 percent of one - doesn't exist in any one place where it is accessible to central planners. Instead, it is scattered piecemeal among millions of people. All those people put together are far wiser and better informed than Congress could ever be. Only markets - private property, free exchange and the price system - can put this knowledge at the disposal of entrepreneurs and consumers, ensuring the system will serve the people and not just the political class. — John Stossel

We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability. — Alan Greenspan

Overpopulation is the problem of the third and fourth World; over-consumption is the problem of the West. The average American child this year will consume as much of the world's resources as twenty children born in India. Deliberate and calculated waste is the central aspect of the American economy. We over-eat, over-buy, and over-built, spewing out our toxic wastes upon the earth and into the air. — Richard J. Foster

Cars are the most central thing in America, in a lot of ways. They've probably influenced the way we live more than anything else, and yet every really big problem - whether it's the environment or who dictates the international economy because of oil - is all tied to cars. Ultimately, cars are bad for civilization. I don't know if they'll end us. — Chuck Klosterman

Trust is central to an economy that works. — Stephen Covey

no master could be isolated from the dehumanizing effects of the rigorous discipline of the slave regime or from the disruptive intrusions of the market economy upon which that regime thrived. These central features of slavery, punishment and profit, destroyed for most slaveholders whatever remained of the elemental principle of the paternalist ethos: that masters were obliged to look to the needs of the slaves in return for the diligence and fidelity of the bondsmen. — James Oakes

The Democrats have essentially decided to move more toward central power, control of just about every aspect of our culture and economy. — Jim DeMint

Money is to an economy as nutrition is to the human body. When central bankers ignore that relationship by providing more capital that functionally needed, they debase everything capitalism stands for. — Said Elias Dawlabani

Looking long term, a stronger, wealthier, and more stable Central America next door benefits the United States' own safety, security, and economy. — James T. Walsh

The cotton gin made it possible to grow medium- and short-staple cotton commercially, which led to the spread of the cotton plantation from a small coastal area to most of the South. As cotton planting expanded, so did slavery, and slavery's becoming the central institution of the Southern economy was the central precondition of the Civil War. What — Nicholas Lemann

The right to "liberty" and "pursuit" of happiness is incompatible with a government that makes choices for you. — A.E. Samaan

There is a central difference between the old and new economies: the old industrial economy was driven by economies of scale; the new information economy is driven by the economics of networks ... — Carl Shapiro

You know, developments here remind me of the Internet. That old computer network, invented by the American scientific community. It was all about free communications. Very simple and widely distributed - there was never any central control. It spread worldwide in short order. It turned into the world's biggest piracy copy machine. The Chinese loved the Internet, they used it and turned it against us. They destroyed our information economy with it. Even then the net didn't go away - it just started breeding its virtual tribes, all these nomads and dissidents. — Bruce Sterling

Until recent history, the central state represented about 5 percent of the economy.
... and further, governments were sufficiently distracted by war to leave economic affairs to businessmen.
The contagious creation of nation-states in the late nineteenth century led to what we saw with the two world wars and their sequels. — Nassim Nicholas Taleb

Come live with me and be my love
And we will all the pleasures prove
Of a marriage conducted with economy
In the Twentieth Century Anno Donomy.
We'll live in a dear little walk-up flat
With practically room to swing a cat
And a potted cactus to give it hauteur
And a bathtub equipped with dark brown water.
We'll eat, without undue discouragement,
Foods low in cost but high in nouragement
And quaff with pleasure, while chatting wittily,
The peculiar wine of Little Italy.
We'll remind each other it's smart to be thrifty
And buy our clothes for something-fifty.
We'll bus for miles on holidays
For seas at depressing matinees,
And every Sunday we'll have a lark
And take a walk in Central Park.
And one of these days not too remote
You'll probably up and cut my throat. — Ogden Nash

Communism is what happens when Socialists realize that they want complete control over every aspect of human life. — A.E. Samaan

The central position of finance capital is going to come to an end, and it's going to steadily move to the sides, the margins of our society, transformed from being a master into a servant, a servant to the productive economy and of human needs. — Geoff Mulgan

To realize the full possibilities of this economy, we must reach beyond our own borders, to shape the revolution that is tearing down barriers and building new networks among nations and individuals, and economies and cultures: globalization. It's the central reality of our time. — William J. Clinton

My university education had been a shallow and superficial enterprise. The central driving forces of the economy I lived in were either ignored or left vague, to the point of meaningless. — Herbert Schiller

We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income. And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped. — Kalle Lasn

The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. — Carroll Quigley

The more central problem of money in politics is something just as troubling but much harder to see: a system in which economic inequalities, inevitable in a free market economy, are transformed into political inequalities that affect both electoral and legislative outcomes. — Richard L. Hasen

The central thought of the Scriptures is that God intends to work Himself in Christ through the Spirit into us, that God and we, we and God, might be really one in life, in nature, and in the Spirit. To show this God uses several figures or symbols in the Bible. — Witness Lee

In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success. — Ben Bernanke

In this sense socialism means the abolition of private enterprise, of private ownership of the means of production, and the creation of a system of "planned economy" in which the entrepreneur working for profit is replaced by a central planning body. — Friedrich Hayek

The problem is, if at all, in the different view of the economy, of economic growth. Growth is too low, even for us. That needs to change: More investments, a stronger role by the European Central Bank. Otherwise, there are no tensions between Italy and Germany. But on this point, compromises must be reached and we will reach them. — Paolo Gentiloni

So what is the role that credit default swaps can play in an economy? Well my feeling is that if these things actually will now be traded on either exchanges or some kind of central clearing, they are going to be a very good measure of the credit worthiness of different companies. — Robert F. Engle

Progress starts with envisioning a new (yet old) lifestyle with the home as central to all aspects of life-work and leisure, food and energy. So, real progress means bringing the economy, beginning with the food economy, home again. — Jules Dervaes

During war the market system is more or less abandoned, as many parts of the economy are placed under central control. Hayek's fear was that socialists would want to continue such — Friedrich Hayek

We in the Congress have a moral and constitutional obligation to protect the value of the dollar and to understand why it is so important to the economy that a central bank not be given the unbelievable power of inflating a currency at will and pretending that it knows how to fine-tune an economy through this counterfeit system of money. — Ron Paul