Quotes & Sayings About Traditional Economy

The situation - having to choose between imposing higher retail prices and reducing investments and military spending - created a dilemma for the government: deciding between conflict with the public or with the Party economic elite. But not making a decision heightened the risk that, as the crisis developed, there would be conflict with both the public and the elite.18 The new generation of leaders clearly did not understand this. The traditional management of the economy was oriented on natural, rather than abstract, parameters. The development of cattle breeding was discussed at the highest level more frequently than the country's budget. Industry and business leaders regarded finances as necessary but dreary bookkeeping.19 In addition, information on the real state of the budget, hard currency reserves, foreign debt, and balance of payments was available only to an extremely narrow circle of people, many of whom understood nothing about it anyway. — Yegor Gaidar

It is necessarily so, since every traditional art obeys a particular spiritual economy that limits its themes and means of expression, so that an abandonment of that economy almost immediately releases new and apparently unlimited artistic possibilities. — Titus Burckhardt

The left tended to think people's private lives should be their own, even if they made choices traditional Christian society regarded as immoral; but that people's working lives, from how much they earned to where they worked, were fit for State interference. The right had a reverse view, that the State should uphold traditional moral codes with the full rigour of the law, but keep out of the economy as much as possible. — Andrew Marr

Much has been written of the perceived "clash" between Islamic and western civilisations and of the need for reconciliation.... Sergei Bulgakov left a rich repository of economic thought that philosophically bridges a gap between the rationality of western market economies and the transcendent awareness of Islamic social structures. Bulgakov's philosophy of economy embraces ideas of freedom even as it recog- nises the need for "guidance" and the essential nature of economic relationships to the preservation of community. By engaging Bulgakov's economic ideas, westerners can better understand the apprehensions of intellectuals in traditional cultures concerning globalisation and the reticence of many Muslims to embrace it. — Charles McDaniel

The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization,and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture. — C. Vann Woodward

Big data is based on the feedback economy where the Internet of Things places sensors on more and
more equipment. More and more data is being generated as medical records are digitized, more stores have loyalty cards to track consumer purchases, and people are wearing health-tracking devices. Generally, big data is more about looking at behavior, rather than monitoring transactions, which is the domain of traditional relational databases. As the cost of storage is dropping, companies track more and more data to look for patterns and build predictive models". — Neil Dunlop

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

Traditional models of work only let us cross out the needs on the very bottom of the pyramid - basic sustenance. On the flipside, independent employment within the network of the new sharing economy addresses our needs for a sense of community and belonging, autonomy and respect, creativity and problem solving. — Leah Busque

The two ideas, justice and vocation, are inseparable ... It is by way of the principle and practice of vocation that sanctity and reverence enter into the human economy. It was thus possible for traditional cultures to conceive that "to work is to pray." (pg. 258, The Idea of a Local Economy) — Wendell Berry

Think of your credit score as a very primitive version of what we will see in the coming Reputation Economy; if your credit score is like a traditional landline telephone handset, then future reputation scores will be like the newest iPhone. — Michael Fertik

All over the world, as governments retreat from their traditional duty to foster the common good and reconceive of themselves as mere managers of national economies, universities have been coming under pressure to turn themselves into training schools equipping young people with the skills required by a modern economy, — J.M. Coetzee

Commercial institutions, proud of their achievements, do not see that healthy living systems - clean air and water, healthy soil, stable climates - are integral to a functioning economy. As our living systems deteriorate, traditional forecasting and business economics become the equivalent of house rules on a sinking cruise ship. — Paul Hawken

I became CEO at the beginning of the hit on old economy stocks. When something like that occurs in your first six months as a CEO of a more traditional branded firm, it makes for a fast learning curve. — Andrea Jung

Companies have to nurture [creativity and motivation]-and have to do it by building a compassionate yet performance-driven corporate culture. In the knowledge economy the traditional soft people side of our business has become the new hard side. — Gay Mitchell