c2p-cmd/Good-Quotes-Authors huggingface dataset:
In the first instance, it is probably true that in general the higher the education and intelligence of individuals becomes, the more their views and tastes are differentiated and the less likely they are to agree on a particular hierarchy of values. It is a corollary of this that if we wish to find a high degree of uniformity and similarity of outlook, we have to descend to the regions of lower moral and intellectual standards where the more primitive and "common" instincts and tastes prevail. This does not mean that the majority of people have low moral standards; it merely means that the largest group of people whose values are very similar are the people with low standards. It is, as it were, the lowest common denominator which unites the largest number of people. If a numerous group is needed, strong enough to impose their views on the values of life on all the rest, it will never be those with highly differentiated and developed tastes -it will be those who form the "mass" in the derogatory sense of the term, the least original and independent, who will be able to put the weight of their numbers behind their particular ideals.
— Friedrich A. Hayek, The Road to Serfdom
What is called economic power, while it can be an instrument of coercion, is in the hands of private individuals never exclusive or complete power, never power over the whole life of a person. But centralised as an instrument of political power it creates a degree of dependence scarcely distinguishable from slavery.
— Friedrich A. Hayek, The Road to Serfdom
Something needs to be said about the role of anonymity and digital pseudonyms. This is a topic for an essay unto itself, of course. Are true names really needed? Why are they asked for? Does the nation state have any valid reason to demand they be used? People want to know who they are dealing with, for psychological/evolutionary reasons and to better ensure traceability should they need to locate a person to enforce the terms of a transaction. The purely anonymous person is perhaps justifiably viewed with suspicion. And yet pseudonyms are successful in many cases. We rarely know whether someone who presents himself by some name is “actually” that person. Authors, artists, performers, etc., often use pseudonyms. What matters is persistence and nonforgeability. Crypto provides this.
— Peter Ludlow, Crypto Anarchy, Cyberstates, and Pirate Utopias
A specter is haunting the modern world, the specter of crypto anarchy. Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in atotally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the true name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive rerouting of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.
— Peter Ludlow, Crypto Anarchy, Cyberstates, and Pirate Utopias
It's easy to make money when you have a lot of it.
— Max Tegmark, Our Mathematical Universe: My Quest for the Ultimate Nature of Reality
Adapt and adopt the peer-to-peer and open source models to wider implementation in organisations
— Miguel Reynolds Brandao, The Sustainable Organisation - a paradigm for a fairer society: Think about sustainability in an age of technological progress and rising inequality
CEOs should be measured by the value they create into the community, the shareholders and the members of the company.
— Miguel Reynolds Brandao, The Sustainable Organisation - a paradigm for a fairer society: Think about sustainability in an age of technological progress and rising inequality
America isn't breaking apart at the seams. The American dream isn't dying. Our new racial and ethnic complexion hasn't triggered massive outbreaks of intolerance. Our generations aren't at each other's throats. They're living more interdependently than at any time in recent memory, because that turns out to be a good coping strategy in hard times. Our nation faces huge challenges, no doubt. So do the rest of the world's aging economic powers. If you had to pick a nation with the right stuff to ride out the coming demographic storm, you'd be crazy not to choose America, warts and all.
— Pew Research Center, The Next America: Boomers, Millennials, and the Looming Generational Showdown
There is no economic law that says that everyone, or even most people, automatically benefit from technological progress.
— Nicholas Carr, The Glass Cage: Automation and Us
In families one can’t choose one’s siblings. Within regions one doesn’t choose one’s neighbors. And if you are one of the world’s leading producers of a critical industrial resource like copper, in the end you can’t really choose your customers. China and Zambia will just have to get along.
— Howard W. French, China's Second Continent: How a Million Migrants Are Building a New Empire in Africa
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account.
— Friedrich A. Hayek, The Fatal Conceit: The Errors of Socialism
Economics. "Something humans invented and then lost control of, it isn't real, it's not like gravity and we could evolve the economic process to make sense, but can't because we would all lose money if we did. Hysterical scientific exerts aside, it doesn't exist outside of our collective heads. So at best its a pseudo science of religious proportions, at worst, it will turn us into a globally warmed suicide cult en mass. ;-)
— Steve Merrick
Bad economics teaches that computers can design markets. Good economics teaches that markets can design computers.
— Jakub Bożydar Wiśniewski, The Pith of Life: Aphorisms in Honor of Liberty
The young are right if they have little confidence in the ideas which rule most of their elders. But they are mistaken or misled when they believe that these are still the liberal ideas of the nineteenth century, which, in fact, the younger generation hardly knows. We have little right to feel in this respect superior to our grandfathers; and we should never forget that it is we, the twentieth century, and not they, who have made a mess of things. If in the first attempt to create a world of free men we have failed, we must try again. The guiding principle that a policy of freedom for the individual is the only truly progressive policy remains as true today as it was in the nineteenth century.
— Friedrich A. Hayek, The Road to Serfdom
Armed with the new right to sell their products back to host societies, they can bleed both producing and buying populations at the same time. That is why under new international "free trade" agreements private corporations and businesses have increasingly demanded that governments deregulate and lower taxes so that they are not obliged to pay the cost of sustaining the life of host-societies or their environments.
— John McMurtry, The Cancer Stage of Capitalism
The main cause of the ineffectiveness of British propaganda is that those directing it seem to have lost their own belief in the peculiar values of English civilization or to be completely ignorant of the main points on which it differs from that of other people. The Left intelligentsia indeed, have so long worshiped foreign gods that they seem to have become almost incapable of seeing any good in the characteristic English institutions and traditions. That the moral values on which most of them pride themselves are largely the product of the institutions they are out to destroy, these socialists cannot, of course, admit.
— Friedrich A. Hayek, The Road to Serfdom
Rivera’s admiration for Stalin was equaled only by his admiration for Henry Ford. By the 1920s and ‘30s, nearly every industrial country in Europe and Latin America, as well as the Soviet Union, had adopted Ford’s engineering and manufacturing methods: his highly efficient assembly line to increase production and reduce the cost of automobiles, so that the working class could at least afford to own a car; his total control over all the manufacturing and production processes by concentrating them all in one place, from the gathering of raw materials to orchestrating the final assembly; and his integration, training, and absolute control of the workforce. Kahn, the architect of Ford’s factories, subsequently constructed hundreds of factories on the model of the Rouge complex in Dearborn, Michigan, which was the epicenter of Ford’s industrial acumen as well as a world-wide symbol of future technology. Such achievements led Rivera to regard Detroit’s industry as the means of transforming the proletariat to take the reins of economic production.
— Linda Downs
The markets make a good servant but a bad master, and a worse religion.
— Amory B. Lovins
They ask - "How much money is too much money?"The answer always is - "A little more!
— Anonymous
It [economics] is the study of how people, companies, and societies allocate scarce resources. Which happens to be the same puzzle you and your spouse are perpetually trying to solve: how to spend your limited time, energy, money and libido in ways that keep you smiling and your marriage thriving.
— Paula Szuchman
Minimum standards to promote workers' wages, health and safety, to safeguard the community against pollution and degradation, and to ensure basic life goods for all as a basic contract for civil society was between 1945 and the mid-1970s, in fact, a rapidly evolving framework which inhibited the causes and effects of a corporate market system committed to an opposed goal.
— John McMurtry
Ban short-selling, high speed trading and all other instruments of pure speculation
— Miguel Reynolds Brandao, The Sustainable Organisation - a paradigm for a fairer society: Think about sustainability in an age of technological progress and rising inequality
Nynaeve shook her head. She supposed it was one way to find money for the poor. Simply rob anyone who was not poor. Of course, that would just make everyone poor in the end, but it might work for a time
— Robert Jordan
Two mystic states can be dissociated: the ecstatic-beneficent-and-benevolent, contemplation of the divine love, the divine splendour with goodwill toward others.And the bestial, namely the fanatical, the man on fire with God and anxious to stick his snotty nose into other men's business or reprove his neighbour for having a set of tropisms different from that of the fanatic's, or for having the courage to live more greatly and openly.The second set of mystic states is manifest in scarcity economists, in repressors etc.The first state is a dynamism. It has, time and again, driven men to great living, it has given them courage to go on for decades in the face of public stupidity. It is paradisical and a reward in itself seeking naught further... perhaps because a feeling of certitude inheres in the state of feeling itself. The glory of life exists without further proof for this mystic.
— Ezra Pound
All types of societies are limited by economic factors. Nineteenth century civilization alone was economic in a different and distinctive sense, for it chose to base itself in a motive rarely acknowledged as valid in history of human societies, and certainly never before raised to the level of justification of action and behavior in everyday life, namely, gain. The self-regulating market system was uniquely derived from this principle. The mechanism which the motive gain set in motion was comparable in effectiveness only to the most violent outburst of religious fervor in history. Within a generation the whole human world was subjected to its undiluted influence.
— Karl Polanyi
In the Soviet Union you weren’t allowed to speak out against the government. In the US you cannot speak out against sponsors.
— Kalle Lasn, Culture Jam: How To Reverse America's Suicidal Consumer Binge - And Why We Must
Even Adam Smith's "invisible hand" occasionally needs a slap on the wrist.
— Bill Mech
Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son has happened to break a pane of glass? If you have been present at such a scene, you will most assuredly bear witness to the fact that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation – "It is an ill wind that blows nobody good. Everybody must live, and what would become of the glaziers if panes of glass were never broken?"Now, this form of condolence contains an entire theory, which it will be well to show up in this simple case, seeing that it is precisely the same as that which, unhappily, regulates the greater part of our economical institutions.Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade – that it encourages that trade to the amount of six francs – I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen."It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.
— Frédéric Bastiat, That Which Is Seen and That Which Is Not Seen
Nothing is easier to achieve than full employment, once it is divorced from the goal of full production and taken as an end in itself
— Henry Hazlitt, Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics
Fear is a subject that I have become increasingly aware of—the result of a period that I call post-divorce. Admittedly aware of the general concerns about “falling” too, I am more concerned about the burdens of a non-custodial—the dilemma of parental alienation with absolute liability for financial support. If any 'positive' aspect could be extracted from the non-custodial lifestyle, it is the accelerated-track toward financial distress and familial disparity. What may have occurred in the 1930s in a mass economic-downward spiral of society has similarity to the consequences of the divorce—as I see it.
— H. Kirk Rainer, A Father and Future Felon
Of valid economics pre-dating the Power Age (steam and electricity), there remains not a vestige. Of valid economics pre-dating the intensive and extensive use of electricity there will soon exist only rags and tatters. We still have to thank Adam Smith for insisting 'Consumption is the sole end and purpose of production;' but the old form of the law of demand and supply is outmoded, since supply has become practically inexhaustible.
— Harriet Boyd Hawes, Born to Rebel: The Life of Harriet Boyd Hawes
Rand had changed a number of laws in Tear, especially those that weighed heavily on the poor, but he had been unable to change everything. He had not even known how to begin. Lews Therin began to maunder on about taxes and money creating jobs, but he might as well have been spilling out words at random for all the sense he made.
— Robert Jordan
Economics has made good on its promise to deliver prosperity and democratic freedom to much of the world, but in doing away with the age-old problems of humanity, it has opened up a crisis of an entirely new variety.
— Philip Roscoe
What's good about growth? Why is it intrinsically good?
— Yahya Madra
If we try to run the economy for the benefit of a single group or class, we shall injure or destroy all groups, including the members of the very class for whose benefit we have been trying to run it. We must run the economy for everybody
— Henry Hazlitt
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
— Thomas Sowell
The world's most primitive people have few possessions, but they are not poor. Poverty is not a certain small amount of goods, nor is it just a relation between means and ends; above all it is a relation between people. Poverty is a social status. As such it is the invention of civilization.
— Marshall Sahlins, Stone Age Economics
What, then, should you do? With an excellent hand, you should bet: You lose nothing if your opponent folds, while giving yourself a good chance of winning a big pot if he calls. But with a middling hand, you shouldn't bet: If he has a bad hand, he'll fold, and you'll win the ante, which is what you'd have won anyway by checking; but if he has a good hand, he'll call and win. It's heads he wins, tails you don't. You should check instead, and hope your middling hand wins the ante.What about with a terrible hand? Should you check or bet? The answer is surprising. Checking would be unwise, because the hands will be compared and you will lose. It actually makes more sense to bet with these bad hands, because the only way he might drop out is if you make a bet. Perversely, you are better off betting with awful cards than with mediocre ones, the quintessential (and rational) bluff. There's a second reason for you to bet with terrible cards rather than middling ones: Your opponent will have to call a little more often. Because he knows that your bets are sometimes very weak, he can't afford to fold too easily. That means that when you bet with a good hand, you are more likely to be called, and to win when you are. Because you are bluffing with bad cards, your good hands make more money.
— Tim Harford, The Logic of Life: The Rational Economics of an Irrational World
We should not conclude from this that everything depends on waves of irrational psychology. On the contrary, the state of long-term expectation is often steady, and, even when it is not, the other factors exert their compensating effects. We are merely reminding ourselves that human decisions affecting the future, whether personal or political or economic, cannot depend on strict mathematical expectation, since the basis for making such calculations does not exist; and that it is our innate urge to activity which makes the wheels go round, our rational selves choosing between the alternatives as best we are able, calculating where we can, but often falling back for our motive on whim or sentiment or chance.
— John Maynard Keynes, The General Theory of Employment, Interest, and Money
One of the most damaging myths of our time is that poor countries live in poverty because of a conspiracy of the rich countries, who arrange things so as to keep them underdeveloped, in order to exploit them.
— Mario Vargas Llosa, El pez en el agua
The worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Nothing could have been more ingeniously designed to maximize the suffering, and also to insure that as few people as possible escape the common misfortune. The fortunate speculator who had funds to answer the first margin call presently got another and equally urgent one, and if he met that there would still be another. In the end all the money he had was extracted from him and lost. The man with the smart money, who was safely out of the market when the first crash came, naturally went back in to pick up bargains. The bargains then suffered a ruinous fall. Even the man who waited for volume of trading to return to normal and saw Wall Street become as placid as a produce market, and who then bought common stocks would see their value drop to a third or a fourth of the purchase price in the next 24 months. The Coolidge bull market was a remarkable phenomenon. The ruthlessness of its liquidation was, in its own way, equally remarkable.
— John Kenneth Galbraith, The Great Crash of 1929
There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.
— John Kenneth Galbraith
It's not that gays and diversity equal high technology. But if your culture is not such that it can accept difference, and uniqueness and oddity and eccentricity, you will not get high tech industry.
— Richard Florida, The Rise of the Creative Class: And How It's Transforming Work, Leisure, Community and Everyday Life
We want people to represent us in politics—and in love and economics too. When people represent us fully, they are ourselves and are not ourselves. When an object is simultaneously the same as and different from the person concerned with it—or considering it—aesthetics is there.
— Eli Siegel
Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.
— John Maynard Keynes
Knowledge is the best economy we can have.
— Greejesh Prakash
Imagine the big rating agencies as three competitive saloons standing side by side, with each free to set its own drinking age. Before long, nine-year-olds would be downing bourbon
— Roger Lowenstein
There are three laws that govern our universe - laws of physics, laws of nature, and spiritual laws. Like the laws of physics and nature, spiritual laws are just as precise as any mathematics equation.
— Truman Massey
And yet all the gold is in England, it is dug up from Portuguese and Spanish mines, but it flows by some occult power of attraction to the Tower of London.” “Flows,” Caroline repeated. “Flows, like a current.” Sophie nodded. “And the English have grown so used to this that they use ‘currency’ as a synonym for money, as if no distinction need be observed between them.
— Neal Stephenson
How does a poor country defeat rich ones?” “Indeed, the answer is not by acquiring wealth in the sense that France has it.” “Meaning vineyards, farms, peasants, cows?” “But rather to play a sort of trick and redefine wealth to mean something novel.” “Currency!” “Indeed.
— Neal Stephenson
And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain.
— Raghuram G. Rajan, Fault Lines: How Hidden Fractures Still Threaten the World Economy
The advertising industry's prime task is to ensure that uninformed consumers make irrational choices, thus undermining market theories that are based on just the opposite.
— Noam Chomsky, Making the Future: Occupations, Interventions, Empire and Resistance
Much of what is euphemistically known as the middle class, merely because it dresses up to go to work, is now reduced to proletarian conditions of existence. Many white-collar jobs require no more skill and pay even less than blue-collar jobs, conferring little status or security.
— Christopher Lasch, The Culture of Narcissism: American Life in an Age of Diminishing Expectations
Printing currency for foreigners to buy is the best racket a government can get into.
— Lee Child
When distance and convenience sets in; the small, the various and the personal wither away.
— Jane Jacobs, The Death and Life of Great American Cities
As UC Berkeley economics professor Brad DeLong put it to me:You get famine if the price of food spikes far beyond that of some people's means. This can be because food is short, objectively. This can be because the rich have bid the resources normally used to produce food away to other uses. You also get famine when the price of food is moderate if the incomes of large groups collapse.... In all of this, the lesson is that a properly functioning market does not seek to advance human happiness but rather to advance human wealth. What speaks in the market is money: purchasing power. If you have no money, you have no voice in the market. The market acts as if it does not know you exist and does not care whether you live or die.DeLong describes a marketplace that leaves people to die - not out of malice , but out of indifference.
— Annalee Newitz, Scatter, Adapt, and Remember: How Humans Will Survive a Mass Extinction
Have you heard the joke about the chemist, physicist and economist who get wrecked on a desert isle, with a huge supply of canned baked beans as their only food? The chemist says that he can start a fire using the neighbouring palm trees, and calculate the temperature at which a can will explode. The physicist says that she can work out the trajectory of each of the baked beans, so that they can be collected and eaten. The economist says "Hang on guys, you're doing it the hard way. Let's assume we have a can opener.
— Steve Keen, Debunking Economics: The Naked Emperor Dethroned?
No credit--no debt. Credit leads a man into temptation. Cash down is the only thing that will deliver him from evil.
— Solomon Northup
IMF is really designed to protect creditors not debtors.
— David Graeber
The failure of the roman system to furnish decent minimal standards for the mass of people was a fundamental cause of instability, both political and economic.
— H.J. Haskell, The New Deal in Old Rome: How Government in the Ancient World Tried to Deal with Modern Problems
Anger and fear are disabling trait behaviours, instilled in the opponent with care.
— Moonn Tzu
Economics also has to become a fundamentally monetary discipline—from the consideration of how individuals make market decisions through to our understanding of macroeconomics. The myth of "the money illusion" (which can only be true in a world without debt) has to be immediately dispelled, while our macroeconomics have to reflect a monetary economy in which nominal magnitudes matter, precisely because they are the link between the value of current output and the financing of accumulated debt. The dangers of excessive debt and deflation simply cannot be comprehended from a neoclassical perspective.The discipline must also become fundamentally empirical, in contrast to the faux empiricism of econometrics. By this I mean basing itself on the economic and financial data first and foremost—the collection and interpretation of which has been the hallmark of contributions by econophysicists—and by respecting economic history, a topic which has been systematically expunged from economics departments around the world.
— Steve Keen, Adbusters #84 Pop Nihilism
Civilization on Earth planet was equated with selfishness and greed; those people who lived in a civilized state exploited those who did not. There were shortages of vital commodities on Earth planet, and the people in the civilized nations were able to monopolize those commodities by reason of their greater economic strength. This imbalance appeared to be at the root of thedisputes.
— Cristopher Priest
The only true and sustainable prosperity is shared prosperity.
— Joseph E. Stiglitz
95% of economics is common sense
— Ha-Joon Chang, Economics: The User's Guide: A Pelican Introduction
That's a large part of what economics is - people arbitrarily, or as a matter of taste, assigning numerical values to non-numerical things. And then pretending that they haven't just made the numbers up, which they have. Economics is like astrology in that sense, except that economics serves to justify the current power structure, and so it has a lot of fervent believers among the powerful.
— Kim Stanley Robinson, Red Mars
Americans were happy to celebrate their super-rich and, at least sometimes, worry about their poor. But putting those two conversations together and talking about economic inequality was pretty much taboo.
— Chrystia Freeland, Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else
Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys.
— Ludwig von Mises
Just when we are in many ways moving to an ever greater validation of the sacredness of the individual person, our capacity to imagine a social fabric that would hold individuals together is vanishing. This is in part because of the fact that our ethical individualism, deriving, as I have argued, from the Protestant religious tradition in America, is linked to an economic individualism that, ironically, knows nothing of the sacredness of the individual. Its only standard is money, and the only thing more sacred than money is more money. What economic individualism destroys and what our kind of religious individualism cannot restore is solidarity, a sense of being members of the same body. In most other North Atlantic societies, including other Protestant societies, a tradition of an established church, however secularized, provides some notion that we are in this thing together, that we need each other, that our precious and unique selves are not going to make it all alone.
— Robert N. Bellah
There is no gainsaying the fact that this suggested program will strike most people as impossibly “radical” and “unrealistic”; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to advocate any change whatever in existing conditions. But to take this approach is to abandon human reason, and to drift in animal- or plant-like manner with the tide of events.
— Murray N. Rothbard, The Case for the 100 Percent Gold Dollar
But the economy's out of control. Money just doesn't need human beings anymore. Most of us only get in the way.
— Bruce Sterling, Distraction
How could a large land empire thrive and dominate in the modern world without reliable access to world markets and without much recourse to naval power?Stalin and Hitler had arrived at the same basic answer to this fundamental question. The state must be large in territory and self-sufficient in economics, with a balance between industry and agriculture that supported a hardily conformist and ideologically motivated citizenry capable of fulfilling historical prophecies - either Stalinist internal industrialization or Nazi colonial agrarianism. Both Hitler and Stalin aimed at imperial autarky, within a large land empire well supplies in food, raw materials, and mineral resources. Both understood the flash appeal of modern materials: Stalin had named himself after steel, and Hitler paid special attention to is production. Yet both Stalin and Hitler understood agriculture as a key element in the completion of their revolutions. Both believed that their systems would prove their superiority to decadent capitalism, and guarantee independence from the rest of the world, by the production of food.p. 158
— Timothy Snyder, Bloodlands: Europe Between Hitler and Stalin
They (economists) must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.
— Thomas Piketty, Capital in the Twenty-First Century
There are sufficient resources in the world for the needs of everybody, but not enough for the greed of even a significant minority.
— Millard Fuller
It seems then that instead of consumers' willingness to pay influencing market prices, the causality is somewhat reversed and it is market prices themselves that influence consumers' willingness to pay.
— Dan Ariely, Predictably Irrational: The Hidden Forces That Shape Our Decisions
An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if it occurs at all, should come after students have at the very least completed course work in basic calculus, algebra and differential equations (the last being one about which most economists are woefully ignorant). This simultaneously explains why neoclassical economists obsess too much about proofs and why non-neoclassical economists, like those in the Circuit School, experience such difficulties in translating excellent verbal ideas about credit creation into coherent dynamic models of a monetary production economy.
— Steve Keen, Adbusters #84 Pop Nihilism
From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the "microfoundations of macroeconomics" debate, which ultimately led to a model in which the economy is viewed as a single utility-maximizing individual blessed with perfect knowledge of the future.Fortunately, behavioral economics provides the beginnings of an alternative vision of how individuals operate in a market environment, while multi-agent modelling and network theory give us foundations for understanding group dynamics in a complex society. These approaches explicitly emphasize what neoclassical economics has evaded: that aggregation of heterogeneous individuals results in emergent properties of the group, which cannot be reduced to the behavior of any "representative individual." These approaches should replace neoclassical microeconomics completely.
— Steve Keen, Adbusters #84 Pop Nihilism
Government in and of itself is the foremost agent for destroying order and imposing chaos.""To accept the legitimacy of the state is to embrace the necessity for war.""Political theory would be fine in a perfect world, but in an uncertain one, it is a dangerous gamble.
— L.K. Samuels, In Defense of Chaos
Intellectually and compassionately explaining the reason freedom works is required for credibility.
— Ron Paul, End the Fed
The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the intellectual failure of neoclassical economics. Mathematics, science and engineering developed tools long ago to model outside of equilibrium processes. This dynamic approach to thinking about the economy should become second nature to economists.
— Steve Keen, Adbusters #84 Pop Nihilism
The 9/11 Commission warned that Al Qaeda "could... scheme to wield weapons of unprecedented destructive power in the largest cities of the United States." Future attacks could impose enormous costs on the entire economy. Having used up the surplus that the country enjoyed as part of the Cold War peace dividend, the U.S. government is in a weakened financial position to respond to another major terrorist attack, and its position will be damaged further by the large budget gaps and growing dependence on foreign capital projected for the future. As the historian Paul Kennedy wrote in his book The Rise and Fall of Great Powers, too many decisions made in Washington today "bring merely short-term advantage but long-term disadvantage." The absence of a sound, long-term financial strategy could bring about a deterioration that, in his words, "leads to the downward spiral of slower growth, heavier taxes, deepening domestic splits over spending priorities and a weakening capacity to bear the burdens of defense."Decades of success in mobilizing enormous sums of money to fight large wars and meet other government needs have led Americans to believe that ample funds will be readily available in the event of a future war, terrorist attack, or other emergency. But that can no longer be assumed. Budget constraints could limit the availability or raise the cost of resources to deal with new emergencies. If government debt continues to pile up, deficits rise to stratospheric levels, and heave dependence on foreign capital grows, borrowing the money needed will be very costly. [Alexander] Hamilton understood the risks of such a precarious situation. After suffering through financial shortages, lack of adequate food and weapons, desertions, and collapsing morale during the Revolution, he considered the risk that the government would have difficulty in assembling funds to defend itself all too real. If America remains on its dangerous financial course, Hamilton's gift to the nation - the blessing of sound finances - will be squandered.The U.S. government had no higher obligation that to protect the security of its citizens. Doing so becomes increasingly difficult if its finances are unsound. While the nature of this new brand of warfare, the war on terrorism, remains uncharted, there is much to be gained if our leaders look to the experiences of the past for guidance in responding to the challenges of the future. The willingness of the American people and their leaders to ensure that the nation's finances remain sound in the face of these new challenges - sacrificing parochial interests for the common good - is the price we must pay to preserve the nation's security and thus the liberties that Hamilton and his generation bequeathed us.
— Robert D. Hormats
Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics appear difficult, they are actually quaint in comparison to the sophistication evident in today's mathematics, engineering, computing, evolutionary biology and physics. In order to advance, economics must humbly submit to learning from disciplines that it has studiously ignored for so long. Some researchers in outside fields have called for the wholesale replacement of standard economics curricula, using at least the building blocks of modern thought inherent in other disciplines.
— Steve Keen, Adbusters #84 Pop Nihilism
Economic experts tell us that the women of America spend 80 per cent of the national income, and the largest part of this expenditure is made for the necessities and the small luxuries of life.
— Judith C. Waller, Radio: The Fifth Estate
The life of man is so short that ordinary people simply cannot afford to be born
— Halldór Laxness, Independent People
Our aim was not to create profit, but jobs,' Sanchez Gordillo explained to me. This philosophy runs directly counter to the late-capitalist emphasis on 'efficiency' - a word which as been elevated to almost holy status in the neoliberal lexicon, but in reality has become a shameful euphemism for the sacrifice of human dignity at the altar of share prices.
— Dan Hancox, The Village Against The World
best practices are useful reference points, but they must come with a warning label : The more you rely on external intelligence, the less you will value an internal idea. And this is the age of the idea
— Gyan Nagpal, Talent Economics: The Fine Line Between Winning and Losing the Global War for Talent
Economics ought to be a magpie discipline, taking in philosophy, history and politics. But heterodox approaches have long since been banished from most faculties, claims Tony Lawson. In the 1970s, when he started teaching at Cambridge, the economics faculty still boasted legends such as Nicky Kaldor and Joan Robinson. "There were big debates, and students would study politics, the history of economic thought." And now? "Nothing. No debates, no politics or history of economic thought and the courses are nearly all maths."How do elites remain in charge? If the tale of the economists is any guide, by clearing out the opposition and then blocking their ears to reality. The result is the one we're all paying for.
— Aditya Chakrabortty
Talent, just like gold or any other precious commodity is subject to the same demand & supply economics
— Gyan Nagpal, Talent Economics: The Fine Line Between Winning and Losing the Global War for Talent
Whoever controls the volume of money in any country is absolute master of all industry and commerce.
— James A. Garfield President of the United States
The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence.
— Michael   Lewis, Liar's Poker
Their job as leader was not to solve the problem – the president really has little control over the economy – but to convince the public not only that he has a plan but that he is altogether confident in the plan's success and that only a cynic or someone in different to the public's well-being would dare to question him on the details.
— George Friedman, The Next Decade: What the World Will Look Like
The markets in the long run are no doubt driven by fundamental economic laws—if the United States runs a persistent trade deficit, the dollar will eventually plummet—but in the short run money flows less rationally. Fear and, to a lesser extent, greed are what make money move.
— Michael   Lewis, Liar's Poker
Labor is sacrificed on the inflation rates altar of oblation.
— Richard Gwynn
Ask five economists and you'll get five different answers - six if one went to Harvard.
— Edgar Fiedler
Here’s the solution. We need a CO2 tax, revenue-neutral, to replace taxation on employment, which was invented by Bismarck — and some things have changed since the 19th Century.
— Al Gore
Debts are subject to the laws of mathematics rather than physics. Unlike wealth, which is subject to the laws of thermodynamics, debts do not rot with old age and are not consumed in the process of living. On the contrary, they grow at so much per cent per annum, by the well-known mathematical laws of simple and compound interest ... It is this underlying confusion between wealth and debt which has made such a tragedy of the scientific era.
— Frederick Soddy
In this century, we are about to enter interplanetary civilization.In order to survive, we need to go beyond neoclassical economics definition.We define it as interplanomics.
— Toba Beta, My Ancestor Was an Ancient Astronaut
A good accountant is someone who told you yesterday what the economists forcast for tomorrow
— Miles Thomas
Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as such, irrespective of all environmental, accidental, and individual circumstances of the concrete acts. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. It aims at knowledge valid for all instances in which the conditions exactly correspond to those implied in its assumptions and inferences. Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts.
— Ludwig von Mises, Human Action: A Treatise on Economics
We could manage to survive without money changers and stockbrokers. We should find it harder to do without miners, steel workers and those who cultivate the land
— Aneurin Bevan, In Place of Fear
Goods are traded, but services are consumed and produced in the same place. And you cannot export a haircut. But we are coming close to exporting a haircut, the appointment part. What kind of haircut do you want? Which barber do you want? All those things can and will be done by a call center far away.
— Thomas L. Friedman, The World Is Flat: A Brief History of the Twenty-first Century
The bubble logic driving tulipomania has since acquired a name: “the greater fool theory.” Although by any conventional measure it is folly to pay thousands for a tulip bulb (or for that matter an Internet stock), as long as there is an even greater fool out there willing to pay even more, doing so is the most logical thing in the world.
— Michael Pollan, The Botany of Desire: A Plant's-Eye View of the World
it was Greenspan who through some excessive deregulation prepared the monetary ground for the rise of the subprime mortgage companies: a lending market that specialises in high-risk mortgages and loans.'Innovation', said Greenspan in April 2005, 'has brought about a multitude of new products, such as subprime loans and niche credit programs for immigrants'.It is almost touching to find out that Greenspan cares so much about immigrants.
— Gilad Atzmon, The Wandering Who? A Study of Jewish Identity Politics
Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. He also managed to convince them that if they did not have the money, that shouldn't stop them. They would 'pay later'. To a certain extent he was correct, we are all having to 'pay later'... we may even never stop paying.
— Gilad Atzmon, The Wandering Who? A Study of Jewish Identity Politics
The overall U.S. homeownership rate increased from 64 percent in 1994 to a peak in 2004 with an all-time high of 69.2 percent. Real estate had become the leading business in America, more and more speculators invested money in the business. During 2006, 22 percent of homes purchased (1.65 million units) were for investment purposes, with an additional 14 percent (1.07 million units) purchased as vacation homes.These figures led Americans to believe that their economy was indeed booming. And when an economy is booming nobody is really interested in foreign affairs, certainly not in a million dead Iraqis. But then the grave reality dawned on the many struggling, working class Americans and immigrants, who were failing to pay back money they didn't have in the first place.Due to the rise in oil prices and the rise of interest rates, millions of disadvantaged Americans fell behind. By the time they drove back to their newly purchased suburban dream houses, there was not enough money in the kitty to pay the mortgage or elementary needs. Consequently, within a very short time, millions of houses were repossessed. Clearly, there was no one around who could afford to buy those newly repossessed houses. Consequently, the poor people of America became poorer than ever.Just as Wolfowitz's toppled Saddam, who dragged the American Empire down with him, the poor Americans, that were set to facilitate Wolfowitz's war, pulled down American capitalism as well as the American monetary and banking system. Greenspan's policy led an entire class to ruin, leaving America's financial system with a hole that now stands at a trillion dollars.
— Gilad Atzmon, The Wandering Who? A Study of Jewish Identity Politics
Unlike old-fashioned Britain, where Tony Blair recruited Lord Levy to encourage his 'Friends of Israel' to donate their money to a party that was just about to launch a criminal war, in America Alan Greenspan provided his president with an astonishing economic boom. It seems that the prosperous conditions at home divert the attention from the disastrous war in Iraq.Greenspan is not an amateur economist, he knew what he was doing. He knew very well that as long as Americans were doing well, buying and selling homes, his President would be able to continue implementing the 'Wolfowitz doctrine' and PNAC philosophy, destroying the 'bad Arabs' in the name of 'democracy', 'liberalism', 'ethics', and even 'women's rights'.
— Gilad Atzmon, The Wandering Who? A Study of Jewish Identity Politics
Much else than liberalization has happened in the nineties (in India)
— Jean Drèze