Economic Quotes & Sayings

the next wave will challenge middle classes across the globe, threatening to return many to poverty. The previous wave saw entire countries and societies lifted up economically. The next wave will take frontier economies and bring them into the economic mainstream while challenging the middle classes in the most developed economies. — Alec J. Ross

Today [the voice of women] is being heard loud and clear. But I do not read the welcome triumph of feminism, social, economic, and creative, as a brief for postmodernism. The advance, while opening new avenues of expression and liberating deep pools of talent, has not exploded human nature into little pieces. Instead, it has set the stage for a fuller exploration of the universal traits that unite humanity. — E. O. Wilson

But lost in that sea of (valid) criticism is the perhaps subtler critique that in an age of consumerism, economic imperialism and what Martin Luther King Jr. called "jumboism," the sacrificial way of Jesus may be calling us to forsake the supersized life. — C. Christopher Smith

Globalisation is not something that we can hold off or turn off: it is the economic equivalent of a force of nature - like wind or water. — William J. Clinton

The gross domestic product (GDP) was created in the 1930s to measure the value of the sum total of economic goods and services generated over a single year. The problem with the index is that it counts negative as well as positive economic activity. If a country invests large sums of money in armaments, builds prisons, expands police security, and has to clean up polluted environments and the like, it's included in the GDP. Simon Kuznets, an American who invented the GDP measurement tool, pointed out early on that "[t]he welfare of a nation can . . . scarcely be inferred from a measurement of national income."28 Later in life, Kuznets became even more emphatic about the drawbacks of relying on the GDP as a gauge of economic prosperity. He warned that "[d]istinctions must be kept in mind between quantity and quality of growth . . . . Goals for 'more' growth should specify more growth of what and for what."29 — Jeremy Rifkin

As children become increasingly less connected to adults, they rely more and more on each other; the whole natural order of things change. In the natural order of all mammalian cultures, animals or humans, the young stay under the wings of adults until they themselves reach adulthood. Immature creatures were never meant to bring one another to maturity. They were never meant to look to one another for primary nurturing, modelling, cue giving or mentoring. They are not equipped to give one another a sense of direction or values. As a result of today's shift to this peer orientation, we are seeing the increasing immaturity, alienation, violence and precocious sexualization of North American Youth. The disruption of family life, rapid economic and social changes to human culture and relationships, and the erosion of stable communities are at the core of this shift. — Gabor Mate

Since 1948 I have spent every single day thinking how the economic and political worlds have changed. — Alan Greenspan

Developments in financial markets can have broad economic effects felt by many outside the markets. — Ben Bernanke

Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem. — Ludwig Von Mises

A masterly analysis of how political interests, economic circumstances, development strategies, and local history have shaped what are surprisingly different versions of the welfare state across the developing world. The authors combine fine-grained country analyses with intelligent use of data, and explain and extend the theory and literature on the modern welfare state. The book is both scholarly and readable. — Nancy Birdsall

My top priority for 2012 will be to make a renewed push for women's economic empowerment and political participation. — Michelle Bachelet

The fantastic political and economic burdens imposed by that treaty have entirely disillusioned the German people and annihilated its belief in justice. — Adolf Hitler

Our theme for this year's festivities, Dreams and Challenges of Asian Pacific Americans, speaks to the many generations of Asian Pacific Americans who worked hard to overcome economic hardship, racism and other barriers in their pursuit of the American dream. — Lucille Roybal-Allard

Turning points in human consciousness occur when new energy regimes converge with new communications revolutions, creating new economic eras. — Jeremy Rifkin

Economic growth is not just a process of more and better machines, and more and better educated people, but also a transformative and destabilizing process associated with widespread creative destruction. Growth thus moves forward only if not blocked by the economic losers who anticipate that their economic privileges will be lost and by the political losers who fear that their political power will be eroded. Conflict — Anonymous

What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation. — Barack Obama

The self-deception of slave owners and proponents of slavery is well documented by the historians Eugene Genovese and Elizabeth Fox-Genovese in their book Fatal Self-Deception: Slaveholding Paternalism in the Old South. Slavery was not perceived by most slaveholders in the nineteenth century to be an exploitation of humans by other humans for economic gain; instead, slaveholders painted a portrait of slavery as a paternalistic and benign institution in which the slaves themselves were seen as not so different from all laborers - black and white - who toiled everywhere in both free and slave states; further, the South's "Christian slavery" was claimed to be superior. — Michael Shermer

Socialism crushes human rights, builds the state, impinges on the liberty of conscience, and breeds social, cultural, and economic degeneration. — Llewellyn Rockwell

Depression is a serious problem, but drugs are not the answer. In the long run, psychotherapy is both cheaper and more effective, even for very serious levels of depression. Physical exercise and self-help books based on CBT can also be useful, either alone or in combination with therapy. Reducing social and economic inequality would also reduce the incidence of depression. — Irving Kirsch

If you start from a belief that the most knowledgeable person on earth does not have even one percent of the total knowledge on earth, that shoots down social engineering, economic central planning, judicial activism and innumerable other ambitious notions favored by the political left. — Thomas Sowell

There is a growing frustration that the EU is seen as something that is done to people rather than acting on their behalf. And this is being intensified by the very solutions required to resolve the economic problems. — David Cameron

We Americans claim to be a peace-loving people. We hate bloodshed; we are opposed to violence. Yet we go into spasms of joy over the possibility of projecting dynamite bombs from flying machines upon helpless citizens. We are ready to hang, electrocute, or lynch anyone, who, from economic necessity, will risk his own life in the attempt upon that of some industrial magnate. Yet our hearts swell with pride at the thought that America is becoming the most powerful nation on earth, and that she will eventually plant her iron foot on the necks of all other nations.
Such is the logic of patriotism. — Emma Goldman

China's building binge is the most striking example of what Prime Minister Wen Jiabao famously, but impotently, denounced in 2007 as the country's "unbalanced, unstable, uncoordinated and unsustainable" model of economic development. — Rosemary Righter

Some time ago Ken Galbraith, in his witty and insightful The Great Crash, coined a new economic term: "the bezzle," defined as the current amount of undiscovered embezzlement. This financial creature has a magical quality: The embezzlers are richer by the amount of the bezzle, while the embezzlees do not yet feel poorer. — Warren Buffett

The chief reason warfare is still with us is neither a secret death-wish of the human species, nor an irrepressible instinct of aggression, nor, finally and more plausibly, the serious economic and social dangers inherent in disarmament, but the simple fact that no substitute for this final arbiter in international affairs has yet appeared on the political scene. — Hannah Arendt

Taxation has its limitations as a method of achieving better economic distribution since for this purpose it is essentially remedial. We must also take a positive approach by finding new ways to spread ownership of future capital growth more broadly in our society. — John D. Rockefeller

Just between you and me, shouldn't the World Bank be encouraging more migration of the dirty industries to the LDCs (lesser developed countries)? I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that ... I've always thought that underpopulated countries in Africa are vastly under polluted; their air quality is vastly inefficiently low compared to Los Angeles or Mexico City. — Lawrence Summers

Business judgment is best developed through professional experience. The next best alternative is to be reading business articles. We recommend Bloomberg Businessweek and Economic Times/Business Standard, if time permits. — Sankalp Kelshikar

Americans could achieve Jefferson's democratic freedoms through Hamilton's economic development strategies and trade policies. — Patrick Mendis

Let's think about how we can bring economic development, let's see if people could learn a little more of the rule of law, rather than the rule of man, which is kind of what you see in China. — John Kasich

In addition, when they talked as if city people lived by different values, they were not emphasizing abortion, or gay marriage, or the things that are typically pointed to as the cultural issues that divide lower-income whites from the Democratic Party. Instead, the values they talked about were intertwined with economic concerns. — Katherine J. Cramer

Nietzsche saw in the Protestant ethic, in both its religious and secular (economic) forms, a final protest before the emergence into dominance of the ordered, bourgeois world of the 'last man' he who will pay any price in tedium for comfort and the absence of tension. — John Carroll

It is unquestionably true that the need for art is not created by economic conditions. But neither is the need for food created by economics. On the contrary, the need for food and warmth creates economics. — Leon Trotsky

Mr. Speaker, in 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. Think about it, 1848 Karl Marx, Communism ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS, my colleagues. I yield back all the rules, regulations, fear, and intimidation of our current system. — James Traficant

The underlying intellectual argument for seeking to tax economic rents retains its force. — Mervyn King

The fact that industries wax and wane is a reality of any economic system that wants to remain dynamic and responsive to people's changing tastes. — James Surowiecki

To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties. — Paul Samuelson

I began my career as an economics professor but became frustrated because the economic theories I taught in the classroom didn't have any meaning in the lives of poor people I saw all around me. I decided to turn away from the textbooks and discover the real-life economics of a poor person's existence. — Muhammad Yunus

Marriage was an economic institution in which you were given a partnership for life in terms of children and social status and succession and companionship. But now we want our partner to still give us all these things, but in addition I want you to be my best friend and my trusted confidant and my passionate lover to boot, and we live twice as long. So we come to one person, and we basically are asking them to give us what once an entire village used to provide: Give me belonging, give me identity, give me continuity, but give me transcendence and mystery and awe all in one. Give me comfort, give me edge. Give me novelty, give me familiarity. Give me predictability, give me surprise. And we think it's a given, and toys and lingerie are going to save us with that. Ideally, though, we're lucky, and we find our soul mate and enjoy that life-changing mother lode of happiness. But a soul mate is a very hard thing to find. — Aziz Ansari

I understood why those who had lived through war or economic disasters, and who had built for themselves a good life and a high standard of living, were rightly proud to be able to provide for their children those things which they themselves had not had. And why their children, inevitably, took those things for granted. It meant that new values and new expectations had crept into our societies along with new standards of living. Hence the materialistic and often greedy and selfish lifestyle of so many young people in the Western world, especially in the United States. — Jane Goodall

Climate change is the world's greatest environmental challenge. It is now plain that the emission of greenhouse gases, associated with industrialization and economic growth ... is causing global warming at a rate that is unsustainable. — Tony Blair

As secretary, Mellon was a pioneer of supply-side economics, cutting tax rates in order to spur investment and economic — Jeff Miller

It made economic sense, if you looked at it from the right angle; it was not in the Clan's interest for the price of the commodity they shifted to drop - and drop it surely would, if it was legalized or if the pressure to keep up the war on drugs ever slackened. But for Mike Fleming, who'd willingly given the best years of his life to the DEA, it was a deeply unsettling idea; nauseating, even. Bought and sold: We're doing the dealers' work for them, keeping prices high. — Charles Stross

It will change everything. We won't need governments and corporations. The very concepts our economic and social systems are based on: money, wealth, privilege, will be meaningless. What use is money when everyone can build everything they need?'...
'These are people who've spent their whole lives fighting their way to the top and you're just going to tell them that there is no top anymore?... it's you that doesn't understand: they only care about material things as status symbols, to show that they're better than everyone else, that they've beaten everyone else, that's what drives them. They'll never give that up. — K. Valisumbra

Our generation, like the one before us, must choose. Without the threat of the Cold War, without the pain of economic ruin, without the fresh memory of World War II's slaughter, it is tempting to pursue our private agendas
to simply sit back and let history unfold. We must resist the temptation. — William J. Clinton

Taxing Women is a must-have primer for any woman who wants to understand how our current tax system affects her family's economic condition. In plain English, McCaffery explains how the tax code stacks the deck against women and why it's in women's economic interest to lead the next great tax rebellion. — Patricia Schroeder

Where I grew up, in Des Moines, Iowa, there is hardly any downtown economic activity now. Everybody shops in malls - you don't find a sense of community in malls. — Bill Bryson

The truth seems ... to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant. — Frank Knight

The Social Security Act offers to all our citizens a workable and working method of meeting urgent present needs and of forestalling future need. It utilizes the familiar machinery of our Federal-State government to promote the common welfare and the economic stability of the Nation. — Franklin D. Roosevelt

Every adult life could be said to be defined by two great love stories. The first - the story of our quest for sexual love - is well known and well charted, its vagaries form the staple of music and literature, it is socially accepted and celebrated. The second - the story of our quest for love from the world - is a more secret and shameful tale. If mentioned, it tends to be in caustic, mocking terms, as something of interest chiefly to envious or deficient souls, or else the drive for status is interpreted in an economic sense alone. And yet this second love story is no less intense than the first, it is no less complicated, important or universal, and its setbacks are no less painful. There is heartbreak here too. — Alain De Botton

In its broadest ecological context, economic development is the development of more intensive ways of exploiting the natural environment. — Richard G. Wilkinson

It is not a struggle merely of economic theories, or forms of government or of military power. At issue is the true nature of man. Either man is the creature whom the psalmist described as a little lower than the angels ... or man is a soulless, animated machine to be enslaved, used and consumed by the state for its own glorification. It is, therefore, a struggle which goes to the roots of the human spirit, and its shadow falls across the long sweep of man's destiny. — Dwight D. Eisenhower

The Green New Deal is about creating economic security for everyone, and doing it quickly. — Jill Stein

The state, for a long period of time, has been undergoing a wrenching economic transformation. The reality is much grimmer than in other states. — Herb Asher

Why am I so interested in politics? But if I were to answer you very simply, I would say this: why shouldn't I be interested? That is to say, what blindness, what deafness, what density of ideology would have to weigh me down to prevent me from being interested in what is probably the most crucial subject to our existence, that is to say the society in which we live, the economic relations within which it functions, and the system of power which defines the regular forms and the regular permissions and prohibitions of our conduct. The essence of our life consists, after all, of the political functioning of the society in which we find ourselves.
So I can't answer the question of why I should be interested; I could only answer it by asking why shouldn't I be interested? — Michel Foucault

The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds prevailed ... Therefore they sent their emissaries into the field to exploit the question of slavery and to open an abyss between the two sections of the Union. — Otto Von Bismarck

It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power. — Ludwig Von Mises

If we neglect or abandon those who are suffering in poverty ... not only are we depriving ourselves of potential opportunities for markets and economic growth, but ultimately that despair may turn to violence that turns on us. — Barack Obama

Politics is the enemy of a sound economic entity, he mused. New laws, harsher tax rates, meddling . . . and now this. — Philip K. Dick

It is the habit of the unthinking to turn to the illusions of economic magic. These unhappy times call for the building of plans that put their faith once more in the forgotten man at the bottom of the economic pyramid — Franklin D. Roosevelt

People who use their disability, grief or adversity as an excuse to avoid doing what they can are emotionally dependent, and emotional dependence can be even more deadly than economic dependence. — Angelyn Miller

For Marx, 'pure' economic theory, that is economic theory which abstracts from a specific social structure, is impossible. — Ernest Mandel

The United States is such a potent political, cultural, and economic model in the evocation of the contemporary world, that to come here, select some elements from the prototype and rearrange them, that's really interesting artistically. — Bruno Dumont

The way the United States intelligence community operates is it doesn't limit itself to the protection of the homeland. It doesn't limit itself to countering terrorist threats, countering nuclear proliferation. It's also used for economic espionage, for political spying to gain some knowledge of what other countries are doing. — Edward Snowden

There are fundamental tensions between the biological reality of the planet and the economic reality. To some extent you can adapt the economy, create a new set of rules and incentives to send it down a better track, but finally people in the first world are going to have to consume a whole lot less. — Michael Pollan

The United States is going to be a rich country, it is going to be prosperous, but it is not going to be able to take the lead in the next phase of global economic development. — Fareed Zakaria

We are one human race, and there must be understanding among all men. For those who look at the problems of today, my big hope is that they understand. That they understand that the population is quite big enough, that they must be informed that they must have economic development, that they must have social development, and must be integrated into all parts of the world. — Sebastiao Salgado

The Occupy Wall Street protests are shining a national spotlight on the most powerful, dangerous and secretive economic and political force in America. — Bernie Sanders

China today has the economy of a twenty-first-century economic superpower with a political regime little changed since the 1950s. Is this slow evolution in political institutions down to the concentration or the dispersion of power? — Matt Ridley

Mozambique is having an economic resurgence but still four out of 10 people there have HIV or AIDS ... There's astounding conditions but what I was left with ... was the power of the human spirit there and the fact these people have been through so much and they were still dancing in the streets — Leonardo DiCaprio

Now, in the modern money economy everything in the nature of a social-economic occurrence consists in human actions and behaviour. — Oskar Morgenstern

Marriage is primarily an economic arrangement, an insurance pact. It differs from the ordinary life insurance agreement only in that it is more binding, more exacting. — Emma Goldman

We must provide all kinds of freedom, personal and economic, to all Iraqis. I will fight for that. — Jalal Talabani

From this process has emerged a parallel process of translating traditional working and living values into a new political and economic power - a power increasingly based upon the strength of money and those material things money can purchase. — Alex Campbell

The immersive ugliness of the built environment in the USA is entropy made visible. It indicates not simple carelessness but a vivid drive toward destruction, decay and death: the stage-set of a literal "death trip," of a society determined to commit suicide. Far from being a mere matter of aesthetics, suburbia represents a compound economic catastrophe, ecological debacle, political nightmare, and spiritual crisis - for a nation of people conditioned to spend their lives in places not worth caring about. — James Howard Kunstler

Cities with a black middle class provide the narrow minded an opportunity to realize that cultural differences are largely economic. — Dov Davidoff

The ignorant mass looks upon the man who makes a violent protest against our social and economic iniquities as upon a wild beast, a cruel, heartless monster, whose joy it is to destroy life and bathe in blood; or at best, as upon an irresponsible lunatic. Yet nothing is further from the truth. As a matter of fact, those who have studied the character and personality of these men, or who have come in close contact with them, are agreed that it is their super-sensitiveness to the wrong and injustice surrounding them which compels them to pay the toll of our social crimes. The most noted writers and poets, discussing the psychology of political offenders, have paid them the highest tribute. Could anyone assume that these men had advised violence, or even approved of the acts? Certainly not. Theirs was the attitude of the social student, of the man who knows that beyond every violent act there is a vital cause. — Emma Goldman

Let me put it this way: You cannot live in the world without being in pain, spiritual and physical pain. We have developed mechanisms to deal with these pains, to overcome them somehow. Therapy, religion and spirituality, relationships, material success. All this can work, but also become a problem itself.
The pursuit of happiness has even been put into the American constitution a couple centuries ago. Today we're so rich, we own much more than we need, we have liberties unknown before, even though they are endangered in the current political climate in the US - and we forget how wonderful it nevertheless is, compared to most other political and economic systems. We have a saying that goes: Give a man enough rope and he hangs himself. — David Foster Wallace

Our Government is fostering economic growth in Kitchener, Cambridge and all of the Waterloo Region by investing in our innovative businesses. Today's announcement is a great example of how we are helping high-potential companies bring great ideas to market faster. Helping our entrepreneurs and original thinkers export their products and services to the rest of the world creates jobs, growth and economic prosperity here at home. — Gary Goodyear

We need economic growth in Europe and we need to find a solution for the excessive interest rates that are making it difficult for many countries to get their own debt under control. — Martin Schulz

For the future world-trading regime to mirror economic reality and to allow the use of modern business strategies, we need a single overarching multilateral framework for trade. We can have either a flat world or a patchwork of crisscrossing mountain ranges and tunnels. — Victor Fung

It seems to me self-evident that we cannot have capitalism without capital and, very importantly, that the ultimate source of all economic capital is Nature's capital — Prince Charles

There is no time in American history in which there was more economic conflict between segments of the population than there was prior to the Civil War. — G. Edward Griffin

Without economic growth and job creation in Mexico, we won't be able to confront the migratory phenomenon. — Andres Manuel Lopez Obrador

What we call 'economic growth' is in fact a growth in waste and a decline in the health of natural habitat — Satish Kumar

The Lockean assumption that if we put our labor to it then it becomes our own is totally fallacious. We have to figure out how to leave things alone, and build an economic system that's not built on a linear model, but instead on a cyclical model, because that's the natural world - it's cyclical and not linear. That is going to take a lot of transformation. — Winona LaDuke

We must always refill and ensure there is a critical mass of leaders and activists committed to nonviolence and racial and economic justice who will keep seeding and building transforming movements. — Marian Wright Edelman

We need to stop thinking about infrastructure as an economic stimulant and start thinking about it as a strategy. Economic stimulants produce Bridges to Nowhere. Strategic investment in infrastructure produces a foundation for long-term growth. — Roger McNamee

Many people see technology as the problem behind the so-called digital divide. Others see it as the solution. Technology is neither. It must operate in conjunction with business, economic, political and social system. — Carly Fiorina

There can be no liberty unless there is economic liberty. — Margaret Thatcher

People end up fleeing countries who adopt economic policies based on these flawed principles. And more often than not, they come here. — Marco Rubio

This popular picture of Marx's 'materialism' - his anti-spiritual tendency, his wish for uniformity and subordination - is utterly false. Marx's aim was that of the spiritual emancipation of man, of his liberation from the chains of economic determination, of restituting him in his human wholeness, of enabling him to find unity and harmony with his fellow man and with nature. Marx's philosophy was, in secular, nontheistic language, a new and radical step forward in the tradition of prophetic Messianism; it was aimed at the full realization of individualism, the very aim which has guided Western thinking from the Renaissance and the Reformation far into the nineteenth century. — Erich Fromm

Right now, there's the illusion of order and civilization, but there's a tremendous amount of economic tension in this country and the educational system is constantly eroding. — Kathryn Bigelow

The most essential factor to economic recovery today [1932] is the restoration of confidence. — Herbert Hoover

Contrary to popular belief, we do not face a choice between economy and ecology, It is often said that protecting the environment would constrain or even undermine economic growth. In fact, the opposite is true: unless we protect resources and the earth's natural capital, we shall not be able to sustain economic growth. — Kofi Annan

Google controls two-thirds of the US search market. Almost three-quarters of all Internet users have Facebook accounts. Amazon controls about 30% of the US book market, and 70% of the e-book market. Comcast owns about 25% of the US broadband market. These companies have enormous power and control over us simply because of their economic position. They all collect and use our data to increase their market dominance and profitability. When eBay first started, it was easy for buyers and sellers to communicate outside of the eBay system because people's e-mail addresses were largely public. In 2001, eBay started hiding e-mail addresses; in 2011, it banned e-mail addresses and links in listings; and in 2012, it banned them from user-to-user communications. All of these moves served to position eBay as a powerful intermediary by making it harder for buyers and sellers to take a relationship established inside of eBay and move it outside of eBay. — Bruce Schneier

Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right. — Eric Maskin

Poverty is not only about income poverty, it is about the deprivation of economic and social rights, insecurity, discrimination, exclusion and powerlessness. That is why human rights must not be ignored but given even greater prominence in times of economic crisis. — Irene Khan

The antigovernment paradigm blinds us to possibilities that lie outside its ideological litmus tests and prevents us from creating new networks of cooperation that can restore economic growth, bring economic opportunity to more people and places, and increase our ability to lead the world to a better future. — Bill Clinton

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts. — Ron Paul