Quotes About Economy

The market order should no longer be fastened to a single dogmatic version of itself. The new vanguardism should be deepened and disseminated to achieve its revolutionary potential, lifting up the productivity of the mass of workers in the economy

The financial sector grows, it undergoes a hypertrophy. It devours not just profits but talents; and its contribution to real productive activity and innovation is completely disproportional to its parasitic relation to the economy.

The paradox of money is that when you have lots of it you can manage life quite cheaply. Nothing so economical as being rich.

Coins and precious metals, food, slaves, and luxury goods flowed to Rome; little came back except tax collectors and soldiers.

When William the Conqueror had the Domesday Book compiled in 1086, this forerunner of the modern census reported at least 6,500 water-powered mills operating in England, or one for about every fifty families.

capitalism was a very Catholic invention: it first appeared in the great monastic estates, way back in the ninth century.

It was perfectly clear that Afghanistan was not ripe for socialism: religion was a tremendous force, the peasants were almost completely illiterate, the economy was backward. Lenin had set out the necessary elements of a revolutionary situation. None were present in Afghanistan.

The real culprit in 1994 was leverage. If you aren't in debt, you can't go broke and can't be made to sell, in which case "liquidity" is irrelevant. But a leveraged firm may be forced to sell, lest fast-accumulating losses put it out of business. Leverage always gives rise to this same brutal dynamic, and its dangers cannot be stressed

a free economy is an economy run by free beings. And free beings are responsible beings. Economic transactions in a regime of private property depend not only on distinguishing mine from yours, but also on relating me to you. Without accountability, nobody is to be trusted, and without trust the virtues that are attributed to the free economy would not arise. Every

The important person in a free economy is not the manager but the entrepreneur – the one who takes risks and meets the cost of them.

No market economy can function properly without the support of legal and moral sanctions, designed to hold individual agents to their bargains, and to return the cost of misbehaviour to the one who causes it. But

modern economies have developed ways of avoiding costs or passing them on that effectively remove the sanctions from dishonest or manipulative behaviour. The

In The Wealth of Nations, Adam Smith argued that self-interest can solve this problem. Given a free economy and an impartial rule of law, self-interest leads towards an optimal distribution of resources. Smith

this is to mistake the effect for the cause. In a free economy such ways of making money emerge by an invisible hand from choices made by all of us. It is the demand for cars, oil, cheap food and expendable luxuries that is the real cause of the industries that provide these things. Of

Black money is so much a part of our white economy, a tumour in the centre of the brain - try to remove it and you kill the patient.

Only I know what my road has been for the last year and a half: the economy of this motionless and anything but spectacular mourning that has kept me unceasingly separate by its demands; a separation that I have ultimately always projected to bring to a close by a book--Stubbornness, secrecy.

The United States still had not escaped economic dependence on England, which consumed nearly half of American exports and accounted for three-quarters of American imports.

We have left behind the rosy agrarian rhetoric and slaveholding reality of Jeffersonian democracy and reside in the bustling world of trade, industry, stock markets, and banks that Hamilton envisioned. (Hamilton's staunch abolitionism formed an integral feature of this economic vision.)

In a country riven by quarrels, Hamilton produced a vision of harmonious parts. Agriculture and commerce were mutually beneficial. North and south, the western frontier and the eastern seaboard, enjoyed complementary economies. The only thing needed to capitalize on these strengths was national unity.

In time, the government redefined the rules of the capitalist game to tame trusts and preserve competition, but as John D. Rockefeller set about building his fortune, the absence of clear-cut rules probably aided, at first, the creative vigor of the new industrial economy.

April 12, 1790, the House voted down Hamilton's assumption plan, thirty-one to twenty-nine, and two weeks later voted to discontinue all debate on the issue. By early June, it looked as if the assumption plan was heading for oblivion. So Hamilton began to search for a compromise that would salvage the linchpin of his economic program.

Sharp drops in the money supply then led to severe recessions. The country needed an elastic currency and a permanent lender of last resort.

Congress adopted the dollar as the official monetary unit in 1785, but for many years New York shopkeepers still quoted prices in pounds, shillings, and pence.

Most of these highly speculative investments never panned out.