Quotes About Economics

Even outside the EEC, global trade grew as new multilateral organizations like the General Agreement on Trade and Tariffs pushed for lower import tariffs across the world. The IMF helped, monitoring exchange rates so that no country attempted to get an undue advantage from the increased openness by depreciating its exchange rate and exporting more—the "beggar-thy-neighbor" strategy that was much feared during the Great Depression.

Eurosclerosis was the term German economist Herbert Giersch used to describe Europe's slow growth and high unemployment, brought about by the postwar accumulation of regulations and social protections.

Why are poorer developing countries like China financing the unsustainable consumption of rich countries like the United States?

if a tiny percentage of the wealth stored in India's temples had been spent on defence or war preparations, invasions would have been deterred or repulsed, and resources saved. Preparation for war is sound economics: this is a thesis offered in the Swami's Gita book.

Today we see a human population of over 6 billion people, many of whom have serious medical conditions, which either can't be treated or cannot be treated economically.

The value of a dollar is social, as it is created by society.

The Indian commitment to the semantics of socialism is at least as deep as ours to the semantics of free enterprise . . . Even the most intransigent Indian capitalist may observe on occasion that he is really a socialist at heart. J. K. GALBRAITH, economist, 1958

While economics played a role, so did individuals, and one individual in particular. The official history underestimated the personal charisma of Mohandas K. Gandhi. His name, and his methods, fired the popular imagination. It was he who conceived of and led the campaign against the Rowlatt Act, he who conceived and led non-cooperation, he, who, by making common cause with the Muslims on the Khilafat, brought India's two major communities together against the Raj.

They'd done their best with democracy, with capitalism, but those had reached their limit long ago. They'd been corrupted, twisted to the interests of a few individuals, when the greatest problems the world faced were problems of collective interest.

They said, Now we are capitalists! but all Ulrich could see was criminality to a principle.

When they brought in communism it was for the people, so they killed the people. Now they've brought in capitalism, which is for the rich, so they only kill the rich. This time you and I have nothing to worry about.

The great and abiding lesson of American history, particularly the cold war, is that the engine of capitalism, the individual, is mightier than any collective.

It all comes down to interest rates. As an investor, all you're doing is putting up a lump-sump payment for a future cash flow.

The statistical methods underlying productivity measurements tend to factor out gains by essentially concluding that we still get only one dollar of products and services for a dollar, despite the fact that we get much more for that dollar.

Substantial portions of our species still live in this precarious way, which is at least one reason to continue technological progress and the economic enhancement that accompanies it.

The sales tax seems to be more politically acceptable than the income tax.

It's very difficult to run a business when you're buying something for $5 and selling it for $10.

Returns matter a lot. It's our capital.

We know that enlightened capital didn't get rid of the slave trade.

I talk about economic freedom. I talk about capitalism without fearing the word.

In practice, getting rid of crony capitalism is incredibly difficult.

Capitalism is not an economic system, but a world-outlook, or rather, a part of a whole world-outlook.

The basic law of capitalism is you or I, not both you and I.

Capitalism may have all sorts of things that are good, but ultimately, it's bad for everyone.