Economic Quotes

Priceless is economic illusion.Costless is an economical trick.

Toba Beta

For capitalism to develop, customary ties between people and the land must be severed, and communal obligations among people disrupted.

The form of association, however, which if mankind continue to improve, must be expected in the end to predominate, is not that which can exist between a capitalist as chief, and work-people without a voice in the management, but the association of the labourers themselves on terms of equality, collectively owning the capital with which they carry on their operations, and working under managers elected and removable by themselves.

John Stuart Mill

Justice requires not only the ceasing and desisting of injustice but also requires either punishment or reparation for injuries and damages inflicted for prior wrongdoing. The essence of justice is the redistribution of gains earned through the perpetration of injustice. If restitution is not made and reparations not instituted to compensate for prior injustices, those injustices are in effect rewarded. And the benefits such rewards conferred on the perpetrators of injustice will continue to "draw interest," to be reinvested, and to be passed on to their children, who will use their inherited advantages to continue to exploit the children of the victims of the injustices of their ancestors. Consequently, injustice and inequality will be maintained across the generations as will their deleterious social, economic, and political outcomes.

Well we're waiting here in Allentown,For the Pennsylvania we never found,For the promises our teachers gave,If we worked hard,If we behaved...So the graduations hang on the wall,But they never really helped us at all,No they never taught us what was real,Iron and coke,And chromium steel,And we're waiting here in Allentown...But they've taken all the coal from the ground,And the union people crawled away...

What the culture of get rich quick does to our people is the escapist mentality becomes prevalent, giving birth to the syndrome of economic refugees.

He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange.

Robert A. Heinlein

We should be disciplined and responsible and then our prosperity will be stable despite any economic crisis, inflation or a change of government