Central Market Quotes & Sayings

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

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

And that is what is behind the abrupt rise in climate change denial among hardcore conservatives: they have come to understand that as soon as they admit that climate change is real, they will lose the central ideological battle of our time - whether we need to plan and manage our societies to reflect our goals and values, or whether that task can be left to the magic of the market. — Naomi Klein

You see it even in our educational systems, where the market model becomes central. It's a matter of just gaining a skill or gaining access to a job to live in some vanilla suburb, as opposed to becoming a critical citizen concerned with public interest and common good. — Cornel West

The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency — Gary North

Bringing an 'emerging market' under the aegis of the British Empire was the surest way to remove political risk from investors' concerns.51 Even those outside the Empire risked a visit from a gunboat if they defaulted, as Venezuela discovered in 1902, when a joint naval expedition by Britain, Germany and Italy temporarily blockaded the country's ports. The United States was especially energetic (and effective) in protecting bondholders' interests in Central America and the Caribbean.52 — Niall Ferguson

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

A new model of heroic capitalism based on principle-driven, free-market entrepreneurship deserves a central place in business-ethics thought and action. — Robert L. Bradley Jr.

Now, it is sometimes said that medical care is too important to be left to the market, and that it is immoral to profit from the illnesses of others. I say medical care is too important to be left to the failed central plans of the political class. And as for profiting from providing medical care, we can never be reminded enough that in a free society, a profit is a signal that valuable services are being rendered to people on a voluntary basis. — Llewellyn Rockwell

There exists no third principle for the organisation of the economics process which can be rationally chosen to achieve any desirable ends, in addition to either a functioning market in which nobody can conclusively determine how well-off particular groups or individuals will be, or a central direction where a group organised for power determines it. — Friedrich August Von Hayek

Given a choice between patterns of subsistence that are relatively unfavorable to the cultivator but which yield a greater return in manpower or grain to the state and those patterns that benefit the cultivator but deprive the state, the ruler will choose the former every time. The ruler, then, maximizes the state-accessible product, if necessary, at the expense of the overall wealth of the realm and its subjects. — James C. Scott

Even the National Bank of Romania doesn't have the huge resources needed to intervene in the market and keep the leu at an acceptable level, because they're drawing close to a floor below which the bank's reserves can't drop. The central bank has to wait for a moment of calm to efficiently conduct its interventions. — Traian Basescu

Because the Asian market is so omnivorous, it affects all the shark populations up and down the Central and South American coast, and to a certain extent the East Coast of the United States as well. — Peter Benchley

People think what's in the US today is capitalism. It's not even close to capitalism. Capitalism doesn't have a central bank, capitalism doesn't have taxes, it doesn't have regulations; capitalism is just voluntary transactions. What they have in the US today I call crapitalism. But it's sad that so many people are confused and they think, 'Oh that's free markets in the US', when it's one of the least free market countries on earth. — Jeff Berwick

As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world. — Ben Bernanke

The free market is not a system. It is not a policy dictated by anyone in particular. It is not something that Washington implements. It does not exist in any legislation, law, bill, regulation, or book. It is what you get when people act on their own, entirely without central direction, and with their own property, and within human associations of their own creation and in their own interest. It is the beauty that emerges in absence of control. — Jeffrey Tucker

[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower. — Mohamed El-Erian

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

The market is like the police: of course you need it, but if it becomes the central organizing principle of your culture then you're in deep trouble. — Philip E. Agre

There's only one thing that all of the central banks control and that is the base, their own liability, and they can control that in various ways. They can control it directly by open market operations, buying and selling government securities or other assets, for example, buying and selling gold, or they can control it indirectly by altering the rate at which banks lend to one another. — Milton Friedman

Central planning was just not good at replacing what the great eighteenth-century economist Adam Smith called the "invisible hand" of the market. When the plan was formulated in tons of steel sheet, the sheet was made too heavy. When it was formulated in terms of area of steel sheet, the sheet was made too thin. When the plan for chandeliers was made in tons, they were so heavy, they could hardly hang from ceilings. — Daron Acemoglu

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

Nothing brings home the fragility of the banking system or the potency of a financial crisis more vividly than writing about these issues from the eye of the storm. Watching the world's central bankers and finance officials grappling with the current situation - trying one thing after another to restore confidence, throwing everything they can at the problem, coping daily with unexpected and startling shifts in market sentiment - reinforces the lesson that there is no magic bullet or simple formula for dealing with financial panics. — Liaquat Ahamed

Once I really got into securities fraud prosecutions, I came to realize how central they were to the maintenance of a free market and how, in many ways, they are far more important to the welfare of our society than many of the more sensational criminal cases that one hears about. — Jed S. Rakoff

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences. — Ben Bernanke

The Japanese experience, when a conscious effort by the central bank to prick an asset bubble ended up triggering an 80 per cent stock market sell-off and a decade of economic stagnation. — Niall Ferguson

My family and I cook at home almost every day together. The kitchen is the central and most important room in the house; it's a great way for us to connect. We love going to the farmer's market on Sundays as a family and choosing the ingredients together. — Jose Andres

The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed. — Milton Friedman

The Tezuman Empire in the jungle valleys of central Klatch is known for it organic market gardens, its exquisite craftsmanship in obsidian, feathers and jade, and its mass human sacrifices in honor of Quezovercoatl, the Feathered Boa, god of mass human sacrifices. — Terry Pratchett

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers. — Ben Bernanke

Fundamentally, there are only two ways of co-ordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary co-operation of individuals - the technique of the market place. — Milton Friedman

I've read quite a few readers' reviews of my book on Amazon, saying, 'Ah, he criticises the free market, he advocates central planning.' I don't do that for a minute! But this is our black and white, dichotomous way of thinking - which has really been harmful. — Ha-Joon Chang

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 most important single central fact about a free market is that no exchange takes place unless both parties benefit. — Milton Friedman