Quotes About Economics

Octavo, aunque Trump y los nativistas de todo el mundo busquen culpar a otros —los inmigrantes y los malos acuerdos comerciales—

Economists have a name for these activities: they call them rent seeking, getting income not as a reward to creating wealth but by grabbing a larger share of the wealth that would otherwise have been produced without their effort. (We'll give a fuller definition of the concept of rent seeking

To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others.

This is an idea called trickle-down economics. It has a long pedigree—and has long been discredited. As we've seen, higher inequality has not led to more growth, and most Americans have actually seen their incomes sink or stagnate. What America has been experiencing in recent years is the opposite of trickle-down economics: the riches accruing to the top have come at the expense of those down below.21

but the truth was just the opposite: advances in economics over the past seventy years had identified the limits of free markets. Of course, anyone with open eyes could have seen this for themselves: episodic unemployment, sometimes massive, as in the Great Depression and pollution so bad in some places that air was unbreathable were just the two most obvious "proofs" that markets on their own don't necessarily work well.

we have a system that has been working overtime to move money from the bottom and middle to the top, but the system is so inefficient that the gains to the top are far less than the losses to the middle and bottom.

More than 80 years ago, John Maynard Keynes explained why market economies often have persistent unemployment and taught us how government could maintain the economy at or near full employment.

Some thirty years ago, the top 1 percent of income earners received only 12 percent of the nation's income.13

What America has been experiencing in recent years is the opposite of trickle-down economics: the riches accruing to the top have come at the expense of those down below.21

over the last three decades those with low wages (in the bottom 90 percent) have seen a growth of only around 15 percent in their wages, while those in the top 1 percent have seen an increase of almost 150 percent and the top 0.1 percent of more than 300 percent.27 Meanwhile

Those at the top have managed to design a tax system in which they pay less than their fair share—they pay a lower fraction of their income than do those who are much poorer.

la guerra moderna de alta tecnología está diseñada para suprimir el contacto físico: arrojar bombas desde 50.000 pies logra que uno no «sienta» lo que hace, la administración económica moderna es similar, desde un hotel de lujo, uno puede forzar insensiblemente políticas sobre las cuales uno pensaría dos veces si conociera a las personas cuya vida va a destruir

En los problemas del FMI y las demás instituciones económicas internacionales subyace un problema de Gobierno: quién decide qué hacen. Las instituciones están dominadas no sólo por los países industrializados más ricos sino también por los intereses comerciales y financieros de esos países, lo que naturalmente se refleja en las políticas de dichas entidades

Already, data showed that the American dream of rags to riches, the Horatio Alger story, was largely a myth. Economic mobility was extremely limited. The abolition of the estate tax could solidify these changes, creating a new "class" society, based not on ancient nobility as in Europe, but on the bonanza of the Roaring Nineties. The

there are two ways to become wealthy: to create wealth or to take wealth away from others.

Trump doesn't have a plan to help the country; he has a plan to continue the robbery of the majority by those at the top.

Just as Guantánamo and Abu Ghraib have eroded America's moral authority, so the Bush administration's fiscal housekeeping has eroded our economic authority.

Oxfam found that the top 1 percent of the world now owned nearly half the world's wealth— and are on track to own as much of the rest of the 99 percent combined by 2016.

en los noventa, la confianza en el poder de los mercados se había generalizado hasta tal punto que la liberalización financiera era impulsada por algunos de mis colegas dentro de la Administración, y al final también por el propio Clinton.

We know through advances in behavioral economics and marketing that one can manipulate perceptions and beliefs.

It shouldn't, of course, come as a big surprise that some of the wealthiest Americans are promoting an economic fantasy in which their further enrichment benefits everyone. It is, perhaps, a surprise that they've done such a good job of selling these fantasies to so many Americans. The

Primero, por sí solos los mercados no logran la prosperidad compartida y duradera.

Y hay otras semejanzas entre Reagan y Trump: una de ellas es la voluntad abierta de servir a los intereses de las grandes corporaciones

The failures in politics and economics are related, and they reinforce each other. A political system that amplifies the voice of the wealthy provides ample opportunity for laws and regulations—and the administration of them—to be designed in ways that not only fail to protect the ordinary citizens against the wealthy but also further enrich the wealthy at the expense of the rest of society. This