Quotes About Economy

Until recent history, the central state represented about 5 percent of the economy. ...and further, governments were sufficiently distracted by war to leave economic affairs to businessmen. The contagious creation of nation-states in the late nineteenth century led to what we saw with the two world wars and their sequels.

Have you noticed that while corporations sell you junk drinks, artisans sell you cheese and wine?

interventionism depletes mental and economic resources; it is rarely available when it is needed the most.

And entrepreneurship is a risky and heroic activity, necessary for growth or even the mere survival of the economy.

stability is not good for the economy: firms become very weak during long periods of steady prosperity devoid of setbacks, and hidden vulnerabilities accumulate silently under the surface—so delaying crises is not a very good idea.

The longer one goes without a market trauma, the worse the damage when commotion occurs.

The fragility of every startup is necessary for the economy to be antifragile, and that's what makes, among other things, entrepreneurship work: the fragility of individual entrepreneurs and their necessarily high failure rate.

In 1960 Taiwan had a much lower literacy rate than the Philippines and half the income per person; today Taiwan has ten times the income. At

we have never been richer in the history of mankind. And we have never been more in debt

Just as a little bit of fire here and there gets rid of the flammable material in a forest, a little bit of harm here and there in an economy weeds out the vulnerable firms early enough to allow them to "fail early" (so they can start again) and minimize the long-term damage to the system.

People go to business school to learn how to do well while ensuring their survival—but what the economy, as a collective, wants them to do is to not survive, rather to take a lot, a lot of imprudent risks themselves and be blinded by the odds. Their respective industries improve from failure to failure

Brain drain is hard to reverse

In other words, it was a much more linear economy—less complex—than today. And we have more nonlinearities—asymmetries, convexities—in today's world.

causing it to become heavily indebted, mostly to the United States.

In fact, economic growth comes from such risk taking.

The simple one-way relationship which so entrances our politicians and commentators—education spending in, economic growth out—simply doesn't exist

Education has benefits aside from stabilizing family incomes. Education makes individuals more polished dinner partners, for instance, something non-negligible. But the idea of educating people to improve the economy is rather novel. The British government documents, as early as fifty years ago, an aim for education other than the one we have today: raising values, making good citizens, and "learning," not economic growth

called the lending rate, the interest rate in the economy (and has proved to be good at it). The libertarian presidential candidate Ron Paul was called a crank for suggesting the abolition of the Federal Reserve, or even restricting its role. But he would also have been called a crank for suggesting the creation of an agency to control other prices.

Capitalism cannot avoid fads and bubbles. Equity bubbles (as in 2000) have proved to be mild; debt bubbles are vicious.

The more unstable the economy and the more rapid the rate of change—the more urgent the need for large numbers of self-esteeming individuals.

Like it or not, the factories of New Haven, Hartford, Boston, Beverly, and Haverhill were the country's future, and Washington was all for it. —

But Buenos Aires also had poor outlying slums, called villa miserias, where hundreds of thousands of people lived in tin or cardboard shacks, a single tap providing water for fifty families. Their plight was made worse by an economy that funneled most of the country's riches to a few hundred families and suffered from rampant unemployment, an exploding budget deficit, and a vigorous black market.

Ooh, I like this one! Connor says. 'Diminished prospects for future.' Sounds like a stock report!

My father didn't drive because he wanted to save gas. He needed the gas to drive to and from his invisible job.