Quotes & Sayings About Economic Decline

History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline. There has been either a spiritual awakening to overcome the moral lapse, or a progressive deterioration leading to ultimate national disaster. — Douglas MacArthur

Certainly, poverty and economic decline have a lot to do with the so-called rage of Islam. You've got all these young men in countries which are economically in bad shape. The idea that they might be able to make a good living and get married and have a family, a decent life, seems very remote to a lot of people in a lot of the world. — Salman Rushdie

The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline. — Milton Friedman

When gross public debt exceeds 90 percent of GDP, economic growth tends to decline considerably. — Kevin McCarthy

The sluggish economy is creating a situation where the young people in Japan cannot cherish their desires or have prospects for their future. Also, the decline in Japan's economic capability is resulting in a declining presence for Japan's foreign policy as well. Accordingly, the duties and mission that I must fulfill are pretty clear: namely, to regain a strong and robust economy, and also to restore Japan's strong foreign policy capability. — Shinzo Abe

The economic and social decline of Zimbabwe is shocking and appalling. Life there is unrecognisable from that of the recent past. Each day is a struggle for basic survival. — Lucy Powell

The choice is ours-yours and mine. We can stay with business as usual and preside over a global bubble economy that keeps expanding until it bursts, leading to economic decline. Or we can adopt Plan B and be the generation that stabilizes population, eradicates poverty, and stabilizes climate. Historians will record the choice, but it is ours to make. — Lester R. Brown

The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it. — Peter Schiff

The period-effects model refers to influences specific to particular points in time - effects thought to be unique economic or demographic circumstances to which any observable fluctuations in population growth or decline may be attributed. — Brian A. Hoey

The American people must make a fundamental decision. Do we continue the 40-year decline of our middle class and the growing gap between the very rich and everyone else, or do we fight for a progressive economic agenda that creates jobs, raises wages, protects the environment and provides health care for all? — Bernie Sanders

States with high and rising tax burdens are more likely to suffer economic decline; those with low and falling tax burdens are more likely to enjoy strong economic growth. — Lawrence Kudlow

Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically. — John Carroll

We have seen, then, that certain socioeconomic changes, notably the decline of the middle class and the rising power of monopolistic capital, had a deep psychological effect ... Nazism resurrected the lower middle class psychologically while participating in the destruction of its old socioeconomic position. It mobilized its emotional energies to become an important force in the struggle for the economic and political aims of Germain imperialism. — Erich Fromm

Cooperation called fraternity in the classic French formula is as much a part of the democratic ideal as is personal initiative. That cultural conditions were allowed to develop (markedly so in the economic phase) which subordinated cooperativeness to liberty and equality serves to explain the decline in the two latter. — John Dewey

In theory, capitalism is an economic system that allows people to freely trade goods and services in a competitive free market. But since the outright ownership of land creates an entry monopoly, it restricts the operation of the free market... Consequently, our current implementation of capitalism is deeply responsible for the exploitation of nature and the decline of social well-being. — Martin Adams

The U.S. might enjoy overwhelming military advantage, but its relative economic power, which in the long run is almost invariably decisive, is in decline. The interregnum after the Cold War, far from being the prelude to a new American age, was bearing the signs of what is now very visible: the emergence of a multipolar world. — Martin Jacques

Nations are political and military entities, and so are blocs of nations. But it doesn't necessarily follow from this that they are also the basic, salient entities of economic life or that they are particularly useful for probing the mysteries of economic structure, the reasons for rise and decline of wealth. Indeed, the failure of national governments and blocs of nations to force economic life to do their bidding suggests some sort of essential irrelevance. — Jane Jacobs

Knowing that an economy is in decline is not enough. We must know why the economy is failing to achieve economic growth if we are to take steps to establish or reestablish it. — Jeffrey D. Sachs

Through exploitation of its influence over global financial affairs, the United States has been able to cover the costs of its hegemonic position, preserve a false domestic prosperity, and mask the consequences of its relative political and economic decline. — Robert Gilpin

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

The structural foundations of traditional manhood--economic independence, geographic mobility, domestic dominance--have all been eroding. The transformation of the workplace--the decline of the skilled worker, global corporate relocations, the malaise of the middle-class manager, the entry of women into the assembly line and the corporate office--have pressed men to confront their continued reliance on the marketplace as the way to demonstrate and prove their manhood. — Michael S. Kimmel

Russians clearly perceive America's global influence as being in irreversible decline and American society shattered by major political, economic and ideological crises. — Ivan Krastev

To be sure, there exists in principle a quite simple economic mechanism that should restore equilibrium to the process: the mechanism of supply and demand. If the supply of any good is insufficient, and its price is too high, then demand for that good should decrease, which should lead to a decline in its price. In other words, if real estate and oil prices rise, then people should move to the country or take to traveling about by bicycle (or both). Never mind that such adjustments might be unpleasant or complicated; they might also take decades, during which landlords and oil well owners might well accumulate claims on the rest of the population so extensive that they could easily come to own everything that can be owned, including rural real estate and bicycles, once and for all.3 As always, the worst is never certain to arrive. It is much too soon to warn readers that by 2050 they may be paying rent to the emir of Qatar. — Thomas Piketty

While the changes that are necessary are actually simple, they're painful, and require courage and sacrifice. Living standards will decline in real terms. Citizens will have to save more and consume less. Working lives with lengthen. For many, retirement will be revert to being a luxury. Taxes and charges for government services will rise to match the cost of providing them. There has to be greater emphasis on the real economy - the creation and sale of goods and services. Financial institutions need to return to their actual role of supporting economic activity. — Satyajit Das

The dynamic of globalisation in financial and economic terms, but also in geopolitical terms, confronts Europeans with a stark choice: live together, share a common destiny and count in the world; or face the prospect of disunity and decline. — Jose Manuel Barroso

If you were born in Britain after World War II, you see a continuous atmosphere of decline, moral and economic and political. — Stephen Bayley

Inequality makes the pie of things smaller, yet economists measure the size of the pie not by how much substance it contains but by its price. It is entirely possible, therefore, for economists to measure as growth what most people experience as economic decline. — Moshe Adler

Compassion is something we can count on. Even if we face economic problems and our fortunes decline, we can still share our compassion with our fellow human beings. National and global economies are subject to many ups and downs, but through them all we can retain a compassionate attitude that will carry us through. — Dalai Lama

The United States is now a bloated military empire on the cusp of steady and irrevocable economic decline. Historically, the danger in such cases is that when the fiscal stability of the empire begins to weaken, the governing elites double down on the very policies of military profligacy that caused the fiscal crisis in the first place. And that appears to be what the people who run America would like to do. This — Mike Lofgren

Lenin held that religion was a simply product of social oppression and economic exploitation. 'The social oppression of toiling masses, their apparent complete helplessness before the blind forces of capitalism ... that is the deepest contemporary root of religion'. Theoretically it followed from this that the elimination of social and economic evils should lead to the disappearance of religious belief. In practice, however, the party has never shown any confidence that this would happen: it has not felt able to concede the churches toleration, and let them decline of their own accord. On the contrary, from the beginning it has aimed at the destruction of the churches and the forcible secularization of believers. With the exemption of the years 1941-53, that has remained the case ever since. — Geoffrey Hosking

Republicans have been running on tax-cut proposals since the era of Harding and Coolidge. Tax-rate reductions and simplifications are urgently needed. But again, there is no mention of the key problems of a global economy in decline - of the acceptance by economic elites of inevitable and irremediable stagnation. We have not faced the fact that the Federal Reserve's capacity to command growth is a god that has failed. — George Gilder

the democracies of the west, which had been the drivers of 20th century growth, were in rapid decline. Beset with corrupt and bloated governments, bankrupted by decades of appalling mismanagement, riddled with cronyism, and unable to recapture the economic dynamism of their past, they were teetering on the verge of collapse. The — Jay Allan

Increasingly economic historians can draw analogies between the development of the present crisis and the period between the two world wars, as well as the crisis of a century ago, which was associated with the so-called great depression of 1873-1895. The latter crisis resulted in the rise of monopoly capitalism and imperialism, but also the end of Pax Britannica, as Britain began its decline from world leadership in the face of challenges from Germany and the United States. The present world crisis seems to be spelling the beginning of the end of Pax Americana and may hold untold other major readjustments in the international division of labor and world power in store for the future. — Andre Gunder Frank

Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market in a given period, but by the danger of a loss of quality and earnings power through economic changes or deterioration in management. — Benjamin Graham

Deep caring about each other's fate does seem to be on the decline, but I do not believe that New Age narcissism is much to blame. The external causes of our moral indifference are a fragmented mass society that leaves us isolated and afraid, an economic system that puts the rights of capital before the rights of people, and a political process that makes citizens into ciphers.

These are the forces that allow, even encourage, unbridled competition, social irresponsibility, and the survival of the financially fittest. The executives who brought down the major corporations by taking indecent sums off the top while wage earners of modest means lost their retirement accounts were clearly more influenced by capitalist amorality than by some New Age guru. — Parker J. Palmer

That the authority of the nation-state itself depended largely on the economic independence and political neutrality of its civil servants becomes obvious in our time; the decline of nations has invariably started with the corruption of its permanent administration and the general conviction that civil servants are in the pay, not of the state, but of the owning classes. — Hannah Arendt

The most important domestic challenge facing the U.S. at the close of the twentieth century is the re-creation of fatherhood as avital social role for men. At stake is nothing less than the success of the American experiment. For unless we reverse the trend of fatherlessness, no other set of accomplishments
not economic growth or prison construction or welfare reform or better schools
will succeed in arresting the decline of child well-being and the spread of male violence. To tolerate the trend of fatherlessness is to accept the inevitability of continued social recession. — David Blankenhorn