Excessively precise economic analysis can lead to assessing everything in terms of its easily measurable melt value – the value that thieves get from stealing copper wiring from isolated houses, that vandals got from tearing down Greek temples for the lead joints holding the marble blocks together, that shortsighted timber companies get from liquidating their forests. The standard to insist on is live value. What is something worth when it's working?
The chronological inconsistencies are perhaps most clearly exemplified by the writings of Nicole Oresme. In his Traictie de la Premierere Invention des Monnies, written about 1360, he develops a theory of money which reveals a very different approach to economic problems from that of his fellow Churchmen.roll, eric, baron roll of ipsden
Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ...In developed capitalist economies, private consumption spending accounts for half or more of GDP.jim stanford
While [European] national cultures were concocted to distinguish one economic unit of capital from another, civilizational thinking was invented to unify these cultures against their colonial consequences. Islamic, Indian, or African civilizations were invented contrapuntally by Orientalism …in order to match, balance and thus authenticate ‘Western Civilization’.hamid dabashi
For 60 years Gross Domestic Product, or GDP for short, has been the yardstick by which the world has measured and understood economic and social progress. However, it has failed to capture some of the factors that make a difference in people’s lives and contribute to their happiness, such as security, leisure,income distribution and a clean environment–including the kinds of factors which growth itself needs to be sustainable.
The application of psychoanalysis to sociology must definitely guard against the mistake of wanting to give psychoanalytic answers where economic, technical, or political facts provide the real and sufficient explanation of sociological questions. On the other hand, the psychoanalyst must emphasize that the subject of sociology, society, in reality consists of individuals, and that it is these human beings, rather than abstract society as such, whose actions, thoughts, and feelings are the object of sociological research.
There will be no peace in Europe if the States rebuild themselves on the basis of national sovereignty, with its implications of prestige politics and economic protection (...). The countries of Europe are not strong enough individually to be able to guarantee prosperity and social development for their peoples. The States of Europe must therefore form a federation or a European entity that would make them into a common economic unit.jean monnet
[The consumer is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed.kenneth boulding
Today, the grandeur of a country is measured by the extent to which it defends and extends its citizens' rights through its impulse towards total equality, by its capacity to create energy that contributes towards cultural, social and economic growth. That is how a country becomes strong, by making its citizens more powerful.
Capitalism is an organized system to guarantee that greed becomes the primary force of our economic system and allows the few at the top to get very wealthy and has the rest of us riding around thinking we can be that way, too - if we just work hard enough, sell enough Tupperware and Amway products, we can get a pink Cadillac.Michael Moore
A few weeks ago I had a revelation and told my secretary that I could give him a synthesis of forty-six years of living with economic policy. It is: 'economic policy is random with respect to the performance of the American economy, but, thank God, there isn't much of it.'Herbert Stein
House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas.ben bernanke
...an economic ignoramus unfit to oversee a fifty-cent raffle.david lange
Africa does not have an uncle abroad who will come to bail it out of its political and economic woes. It is important that African countries wake up and pool whatever resources they have and jointly deal elements pulling our continent down a death blow.bernard membe
Whatever his merits as an economist, Hume's place as one of the foremost exponents of capitalism is clearly established. His views on the landed interest and his recognition of self-interest and his desire for accumulation as the driving forces of economic activity in his time helped to consolidate the forces that were struggling to add political power to the economic supremacy which they had already achieved.roll, eric, baron roll of ipsden
The story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom of the ages; but our economic thinking seems to have lost contact with so simple and basic approach to prudent management of a nations welfare.benjamin graham
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems the problems of life and of human relations, of creation and behaviour and religion .john maynard keynes
The moral sentiments that constrain economic life also promote it.ted malloch
A society which is clamouring for choice, which is filled with many articulate groups, each urging its own brand of salvation, its own variety of economic philosophy, will give each new generation no peace until all have chosen or gone under, unable to bear the conditions of choice.Margaret Mead
Demonstrators for a government takeover of medicine have a right to discuss their demands, but no right to enact these demands. ... 'Rights, as our founding fathers conceived them, are not claims to economic goods, but freedoms of action.ilana mercer
The first statement of the two principals reads as follows. First: each person is to have an equal right to the most extensive basic liberty compatible with a similar liberty for others. Second: social and economic inequalities are to be arranged so that they are both(a)reasonably expected to be to everyone's advantage, and (b) attached to positions and offices open to all.john rawls
It has been shown that, in contrast to everything which classical national economy has hitherto taught, not the producer but the consumer is the ruling factor in economic life.hjalmar schacht
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity – the political allocation of wealth and opportunity – is not merely susceptible to corruption, it is corruption.”George Will
An economic system based on private, rather than state, ownership of businesses, factories, transport services, etc, with free competition and profit-making.
The successes of modern control theory in the design of highly accurate space navigation systems have stimulated its use in the theoretical analyses of economic and biological systems. Similarly, the effectiveness of computer simulation techniques in the macroscopic analyses of physical systems has brought into vogue the use of computer-based econometric models for purposes of forecasting, economic planning, arid management.
But what I believe is that if a person's individual rights or right to be a part of our economic system is violated under statute, we aggressively go after it. But we don't issue mandates to businesses that you've got to do this and you've got to do that.clarence thomas
A central concern of macroeconomics is the upswings and downswings in the level of real output called the business cycle. The business cycle consists of alternating periods of economic growth and contraction. Business cycles are inherent in market economies.Irvin Tucker