Quotes About Economy

At the dawn of the nineteenth century, many parts of the world, especially in Africa, lacked a state that could provide even a minimal degree of law and order, which is a prerequisite for having a modern economy.

Countries differ in their economic success because of their different institutions, the rules influencing how the economy works, and the incentives that motivate people.

Tradicionalmente, la economía ha ignorado la política, pero la comprensión de la política resulta esencial para explicar la desigualdad del mundo.

The law, designed by the planters and for the planters, exempted one slaveholder from military service for every twenty slaves held. As hundreds of thousands of men died to preserve the southern plantation economy, many big slaveholders and their sons sat out the war on their porches and thus were able to ensure the persistence of the plantation economy.

The South African state created a dual economy, preventing 80 percent of the population from taking part in skilled occupations, commercial farming, and entrepreneurship. All this not only explains why industrialization passed by large parts of the world but also encapsulates how economic development may sometimes feed on, and even create, the underdevelopment in some other part of the domestic or the world economy.

Coffee could be smelled and tasted and touched. And it was a commodity, recession-proof. Next to gasoline, it might be one of the most recession-proof commodities of all.

Capitalist Prime

Let's secure the border, figure out who is here illegally, and offer them a pathway to citizenship. Likewise, let's take in new immigrants in numbers that will help our economy, rather than make them reliant on the citizens who are already here.

Businesses don't give a crap about creating jobs. They care about making money. With robots, you'll just need some tech guys to maintain and repair them.

to be a superpower. Economically they already are. These days it's not necessarily how large your military is, but how big your bank account is, and the Chinese wallet is fatter than anyone's.

When the Fed raises or lowers interest rates, for instance, then that affects the entire economy. Contracts or expands it.

the most important factor in America's economic future—in raising everyone's standard of living—is not land, or money, or computers; it's human talent.

every government intervention in the marketplace tends to reduce wealth and the overall standard of living.

The fatal conceit of intellectuals, he said, is to think that smart people can design an economy or a society better than the apparently chaotic interactions of millions of people. Such intellectuals fail to realize how much they don't know or how a market makes use of all the localized knowledge each of us possesses.

i like to go into the roots of words, because they often show early insights, a fresh perception of meaning. the word 'economy' has a greek root, meaning 'household management'. we can say that there are so many households in the world and they all behave independently. in fact they are all interdependent. the earth is one household really, but we are not treating it that way. so the first step in economics is to say, the earth is one household, it is all one.

Those "socialists" must do badly at encouraging growth in an entrepreneurial-competitive capitalist economy. – They're fiscally irresponsible and will saddle future generations with outrageous debt. – Because liberals moralize, that means they cannot be the pragmatic ones. Would it surprise you that these truisms all run diametrically opposite to fact? Or that almost none of our side's pols or pundits have glommed onto that response?

We never minded paying a fair price, but overpaying was anathema to us—and it should be to you.

Monopoly power exists only when a firm can control the prices charged by existing competitors and prevent the entry of new ones. The most effective way of doing so is by the use of government power. There are considerable elements of monopoly in our economy, but virtually all are produced by government and could not exist under institutions of complete private property.

We think of ourselves now as eaters of the pie instead of makes of the pie...Corporations make the pie. They make it and we eat it.

The core accounting equation A = L + E can be dissolved and reshuffled into everything from E = A - L to beyond.

Money is a social contrivance, worth something only because others will accept it in payment for real things. A dollar retains its value if prices remain stable, which is precisely what the gold standard accomplished by allowing people to convert paper dollars into gold. It prevented inflation by controlling the printing press, holding the creation of paper dollars in check, for better or worse.

He no longer trusted the Federal Reserve Board to rise above partisan politics to focus on the public interest.

It is futile to do with more what can be done with fewer.

Plurality is never to be posited without necessity.