Economics Quotes

Apart from the economic value, money does have high moral value.

~ Amit Kalantri

Rich or poor it’s nice to have money

~ Alan Sheinwald

Now, it’s true that some of the protesters are oddly dressed or have silly-sounding slogans, which is inevitable given the open character of the events. But so what? I, at least, am a lot more offended by the sight of exquisitely tailored plutocrats, who owe their continued wealth to government guarantees, whining that President Obama has said mean things about them than I am by the sight of ragtag young people denouncing consumerism.

~ Paul Krugman

Experience has taught us that material wants know no natural bounds, that they will expand without end unless we consciously restrain them. Capitalism rests precisely on this endless expansion of wants. That is why, for all its success, it remains so unloved. It has given us wealth beyond measure, but has taken away the chief benefit of wealth: the consciousness of having enough.

~ Robert Skidelsky Edward Skidelsky

An economic system which can only expand or expire must be false to all that is human.

~ Edward Abbey

Wherever the shadow of economic growth touches us, we are left useless unless employed on a job or engaged in consumption...We lose sight of our resources, lose control over the environmental conditions which make these resources applicable, lose taste for self-reliant coping with challenges from without and anxiety from within.

~ Ivan Illich

Sustainability is a new idea to many people, and many find it hard to understand. But all over the world there are people who have entered into the exercise of imagining and bringing into being a sustainable world. They see it as a world to move toward not reluctantly, but joyfully, not with a sense of sacrifice, but a sense of adventure. A sustainable world could be very much better than the one we live in today.

~ Donella H. Meadows

If nonsatiety were the natural state of human nature then aggressive want-stimulating advertising would not be necessary, nor would the barrage of novelty aimed at promoting dissatisfaction with last year's model. The system attempts to remake people to fit its own presuppositions. If people's wants are not naturally insatiable we must make them so, in order to keep the system going.

~ Herman E. Daly

Don't you know there's another bubble as well? An expectations bubble. Bigger houses, private planes, yachts... stupid salaries and bonuses. People come to desire these things and expect them. But the expectations bubble will burst as well, as all bubbles do.

~ Edward Rutherfurd

The United States spends over $87 billion conducting a war in Iraq while the United Nations estimates that for less than half that amount we could provide clean water, adequate diets, sanitations services and basic education to every person on the planet. And we wonder why terrorists attack us.

~ John Perkins

People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.

~ Muhammad Yunus

What I did not know yet about hunger, but would find out over the next twenty-one years, was that brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. They believe that these will be resolved when general economic prosperity increases. These economists spend all their talents detailing the process of development and prosperity, but rarely reflect on the origin and development of poverty and hunger. A a result, poverty continues.

~ Muhammad Yunus

Th direct elimination of elimination of poverty should be the objective of all development aid. Development should be viewed as a human rights issue, not as a question of simply increasing the gross national product (GNP).

~ Muhammad Yunus

Remember, aid cannot achieve the end of poverty. Only homegrown development base on the dynamism of individuals and firms in free markets can do that.

~ William Easterly

What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting a job?

~ Paul A. Samuelson

This is the basis for the most important critique of microfinance. The poor are not entrepreneurs. The idea that more than a few will turn tiny loans into a viable business is simply unrealistic.

~ Ian Smillie

The best state for human nature is that in which, while no one is poor, no one desires to be richer, nor has any reason to fear being thrust back, by the efforts of others to push themselves forward.

~ John Stuart Mill

By and large, the poor do not want some small life. They don't want to game the system or eke out an existence; they want to thrive and contribute.

~ Matthew Desmond

No one thought the poor more undeserving than the poor themselves.

~ Matthew Desmond

It is quite wrong to assume that poor people are generally unwilling to change; but the proposed change must stand in some organic relationship to what they are doing already, and they are rightly suspicious of, and resistant to, radical changes proposed by town-based and office-bound innovators who approach them in the spirit of: You just get out of my way and I shall show you how useless you are and how splendidly the job can be done with a lot of foreign money and outlandish equipment.

~ Ernst F. Schumacher

Every era in the continent's vaunted developmental story had its own taxonomy of waste people-unwanted and unsalvageable. Each era had its own means of distancing its version of white trash from the mainstream ideal.

~ Nancy Isenberg

The poor stay poor here because they do not save enough.

~ Abhijit V. Banerjee

Poverty in western Mexico is an Unconditional Sentence.

~ Warren Eyster

In the same essay, Said (who is reviewing Peter Stansky and William Abrams, co-authors obsessed with the Blair/Orwell distinction) congratulates them on their forceful use of tautology:This is rather extraordinary. Orwell did indeed meet Garrett in Liverpool in 1936, and was highly impressed to find that he knew him already through his pseudonymous writing—under the name Matt Lowe—for John Middleton Murry’s Adelphi. As he told his diary:Thus the evidence that supposedly shames Orwell by contrast is in fact supplied by—none other than Orwell himself! This is only slightly better than the other habit of his foes, which is to attack him for things he quotes other people as saying, as if he had instead said them himself. (The idea that a writer must be able to ‘afford’ to write is somewhat different and, as an idea, is somewhat—to use a vogue term of the New Left—‘problematic’. If it were only the bourgeois who were able to write, much work would never have been penned and, incidentally, Orwell would never have met Garrett in the first place.)

~ Christopher Hitchens

Democracy is supposed to be ‘of the people, by the people and for the people’. Capitalism is ‘of the capitalist, for the capitalist’. Period.

~ Jerry Ash

Honey, it isn’t democracy that runs this country. Capitalism rules. It does no good to reason with the capitalists or their politicians. This is a class war. We have to stir up the American people, the lower class. Some of the better-off lower class do show some sympathy for us when they’re smacked with the facts. And when they voice themselves collectively, good things happen.” — Mother Jones

~ Jerry Ash

I am a citizen of this country,” I declare, “and Mr. Mayor, tonight I will be a citizen of this city when I put my shoes under my bed. The courageous men, women and children who are with me (blocked from crossing the bridge into NYC) are also citizens of this country and will be sleeping near their shoes too. I want them with me tonight, here, in the city of New York. We are all American citizens.” — Mother Jones

~ Jerry Ash

What the hell’s the matter with you men? Are you cowards as well as stupid? You boys make me sick. I’m done with you. You hear me? I want you to go back to your places now and stay with your children until I say you’re needed.“Tell your wives and your older children to bring with them dish pans and cooking pots. Tell them to bring their stirring spoons and ladles. Tell them to carry a mop over their shoulders. We’re goin’ to march on that mine and we’re going to stand guard to see that no scabs are allowed in. Do you hear me?” — Mother Jones

~ Jerry Ash

Go home now,” says I. “Keep away from the saloons. Save your money. You are going to need it.”“What are we going to need it for?” asks a voice from the crowd.“For guns and ammunition,” says I.

~ Jerry Ash

To the RKO motion picture camera at her 100th birthday party: “I pray for the day when working men and women are able to earn a fair share of the wealth they produce in a capitalist system, a day when all Americans are able to enjoy the freedom, rights and opportunities guaranteed them by the Constitution of the United States of America.” — Mother Jones

~ Jerry Ash

Turning back to the crowd I say, “I am duty bound to make this plea, but I want to say, with all due respect to the governor here, that I doubt seriously that he will do — cannot do — anything. And for the reason that he is owned, lock, stock and barrel, by the capitalists who placed him here in this building.” — Mother Jones

~ Jerry Ash

That’s got to stop,” says I. “The idea of any blood-thirsty pirate (Mexican President Diaz) sitting on a throne and reaching across the border to tromp on our Constitution makes my blood boil.” — Mother Jones

~ Jerry Ash

I go back to the union man and say, “Sir, this is a house of God, not a proper place for a union meeting. I have some things to say today that God would not want to hear in His own house. Boys, I want you to get up, every one of you, and go across the road. I want you to sit down on the hillside over there and wait for me to speak to you.

~ Jerry Ash

What do you see out there?” I ask. “Pittsburgh,” he replies. Now I laugh. “No, young man. What you see is hell with the lid taken off.” — Mother Jones

~ Jerry Ash

Well, honey, it’s capitalism that brings out the meanness and greed,” says I. “Our founding fathers did a decent job of framing our democracy. They wrote the Constitution and added a Bill of Rights that intended for people of all classes to enjoy the freedoms the Constitution offers. But capitalism came along without a constitution or a bill of rights and the industrialists grabbed unrestricted power. The capitalists wrote their own ‘Declaration of Capitalism’.” — Mother Jones

~ Jerry Ash

So let us be clear about this up front: We hope to recruit you to join an incipient movement to emancipate women and fight global poverty by unlocking women's power as economic catalysts. That is the process under way - not a drama of victimization but of empowerment, the kind that transforms bubbly teenage girls from brothel slaves into successful businesswomen.This is a story of transformation. It is change that is already taking place, and change that can accelerate if you'll just open your heart and join in.

~ Nicholas D. Kristof

Inevitably, people tell me that poor folks are lazy or unintelligent, that they are somehow deserving of their poverty. However, if you begin to look at the sociological literature on poverty, a more complex picture emerges. Poverty and unemployment are part and parcel of our economic order. Without them, capitalism would cease to function effectively, and in order to continue to function, the system itself must produce poverty and an army of underemployed or unemployed people.

~ Bob Torres

We must arm ourselves with patience and wisdom and listen to the poor what they want. This is the best way to avoid the trap of ignorance, ideology and inertia on our side.

~ Abhijit V. Banerjee

Writers are writing in every corner of the globe.Writers are writing, moreover, in rich countries and poor countries alike.

~ Minae Mizumura

Or how does it happen that trade, which after all is nothing more than the exchange of products of various individuals and countries, rules the whole world through the relation of supply and demand—a relation which, as an English economist says, hovers over the earth like the fate of the ancients, and with invisible hand allots fortune and misfortune to men, sets up empires and overthrows empires, causes nations to rise and to disappear—while with the abolition of the basis of private property, with the communistic regulation of production (and implicit in this, the destruction of the alien relation between men and what they themselves produce), the power of the relation of supply and demand is dissolved into nothing, and men get exchange, production, the mode of their mutual relation, under their own control again?

~ Karl Marx