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Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.
Michael HudsonThere is a section of our population in South Africa that you can't expect to get integrated in the economy of its own. These are people without skills and that will include young people who might very well have matric certificates, but don't have the skills to be absorbed in the economy. So we need to target people like those in a special way, in a focused way so that they have the skills and the capacity to participate in the economy. That requires special programmes.
Thabo MbekiI think that's one of the major overriding issues of the day, to deal with frivolous lawsuits. I think it creates a tremendous burden on our economy, a tremendous burden on health care, it creates all of this medicine, which is good medicine. It would be one of the most important things we could do. It, also would help the economy. A tremendous amount of money is taken out of our economy and a tremendous that is created by these frivolous lawsuits.
Rudy GiulianiI think the reason that the Trump economic agenda is beneficial is, he is doing the right things. He wants to see growth, he wants to see to lower taxes, he wants to see this cash pile sitting outside the US return to the US. All of these things I think will be good for the US economy, and as I've said, if the US economy grows, the global economy benefits hugely.
Martin GilbertAs I constantly remind Canadians, there isnt really a Canadian economy anymore. It is a global economy.
Stephen HarperNow we're in a very different economy. Throughout the late 1980s and 1990s American management started to do the right things. There was extraordinary investment in technology. The dominant questions now are less how to do it better, how to manage better, how to make the economy better, than how to have fuller and more meaningful lives. Because the irony is, now that we've come through this great transition, even though our organizations and our people are extraordinarily productive, many feel that the nonwork side of life is very thin.
Robert ReichThe white man is too intelligent to let someone else come and gain control of the economy of his community. But you will let anyone come in and take control of the economy of your community, control the housing, control the education, control the jobs, control the businesses, under the pre-text that you want to integrate. No, you outta your mind.
Malcolm XA truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine.
Walter WristonThe whole economy would be much healthier if it would transition to an asset-based economy rather than a credit-based one.
Rick JoynerIn a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.
Fareed ZakariaI think that we've had an economy that's been out of balance for too long. So the general principle of raising taxes on higher income Americans, like myself, and providing relief to those who haven't benefited as much from this new global economy, I think is a sound one.
Barack ObamaIn the name of economy a thousand wasteful devices would be invented; and in the name of efficiency new forms of mechanical time-wasting would be devised: both processes gained speed through the nineteenth century and have come close to the limit of extravagant futility in our own time. But labor-saving devices could only achieve their end-that of freeing mankind for higher functions-if the standard of living remained stable. The dogma of increasing wants nullified every real economy and set the community in a collective squirrel-cage.
Lewis MumfordWhy is it so hard to see that when America had high savings, low taxes and minimal government, the economy grew like a week, and today when we have just the opposite, the economy is shrinking.?
James CookThe government doesn't run the economy. The economy is run by the private sector. The job of the president is to ensure we [the state] have policies that allow the private sector to grow and prosper.
Marco RubioI think women as well as men are concerned about jobs and the economy and spending and, and other issues. They're concerned that when their kids graduate from college they have an economy and they have a future in this country and they, they have the same opportunity that we've had and our grandparents have had.
Ken BuckIndia went through a dramatic revolution after the '90s when our economy started opening up for the first time and Indians were now experiencing the Western life, if you will. Drugs and sex and a lot of those influences came in as the economy stabilized, and we were growing up and experiencing that. The Indian writing market was very small at that time. Our literature was very attuned to what Western audiences were interested in, so everybody was writing about the slums in India and magic realism or stories about Hindus and Muslims and partition.
Karan BajajAnd still the time, especially in the economy, is very tough, very difficult. It's necessary to be active still, to work, to fight, to make our economy more competitive.
Aleksander KwasniewskiThe parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.
Robert GilpinAmerica is stronger than Russia. Our economy is 16 times larger than the Russian economy.
Mike PenceOne of the reasons why this country undertook military action in Iraq was that there are quite a few problems here, and perhaps attention needed to be deflected from those problems. It sometimes seems that the U.S. economy works successfully only if it gets a stimulus from the defense industry. So perhaps in addition to showing the power and the might of the United States internationally, another reason was to help the defense industry and to help the U.S. economy recover.
Mikhail GorbachevThough my heart may be left of centre, I have always known that the only economic system that works is a market economy... This is the only natural economy, the only kind that makes sense, the only one that can lead to prosperity, because it is the only one that reflects the nature of life itself.
Vaclav HavelWomen are the engine driving the growth in California's economy. Women make California's economy unique.
Arnold SchwarzeneggerThe public sector can only feed off the private sector; it necessarily lives parasitically upon the private economy. But this means that the productive resources of society - far from satisfying the wants of consumers - are now directed, by compulsion, away from these wants and needs. The consumers are deliberately thwarted, and the resources of the economy diverted from them to those activities desire by the parasitic bureaucracy and politicians.
Murray RothbardGrowth is the mantra of our society because the economy can't remain healthy without growth.Impregnable monopolies aside (and these are few), profits are both the hallmark of capitalism and its Achilles heel, for no business can permanently maintain its prices much above its costs. There is only one way in which profits can be perpetuated; a business-or an entire economy-must grow.
Robert HeilbronerBut can we please stop insisting that if low-wage workers earn a little bit more, unemployment will skyrocket and the economy will collapse? There is no evidence for it. The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.
Nick HanauerNo economy can continue to function when the vast middle class and everybody else don't have enough purchasing power to buy what the economy is capable of producing without going deeper and deeper into debt.
Robert ReichToday, local economies are being destroyed by the 'pluralistic,' displaced, global economy, which has no respect for what works in a locality. The global economy is built on the principle that one place can be exploited, even destroyed, for the sake of another place.
Wendell BerryWe're foolish if we think we're going to end mass incarceration unless we are willing to deal with the reality that huge percentages of poor people are going to remain jobless, locked out of the mainstream economy, unless and until they have a quality education that prepares them well for the new economy. There has got to be much more collaboration between the two movements and a greater appreciation for the work of the advocates in each community. It's got to be a movement that's about education, not incarceration - about jobs, not jails.
Michelle AlexanderYou know, out-of-touch liberals like Barack Obama say they want a strong economy, but in everything they do, they show they don't like business very much. But the economy, of course, is simply the product of all the businesses of the nation added together. So it's a bit like saying you like an omelet, but you don't like eggs.
Mitt RomneyLet's not only provide a jumpstart to the economy and immediately or save 3 million jobs, but let's also put a down payment on some of the structural problems that we have in our economy.
Barack ObamaMoney is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of production, but rather a yardstick for measuring economic input, economic outtake and the relative values of the real goods and services of the economic world. Money provides a method of measuring obligations, rights, powers and privileges. It provides a means whereby certain individuals can accumulate claims against others, or against the economy as a whole, or against many economies.
Louis O. KelsoMy Prime Minister regards the economy as our highest priority and forgets that economics and ecology are derived from the same Greek word, oikos, meaning household or domain. Ecology is the study of home, while economics is its management. Ecologists try to define the conditions and principles that enable a species to survive and flourish. Yet in elevating the economy above those principles, we seem to think we are immune to the laws of nature. We have to put the โecoโ back into economics.
David SuzukiWe've got some fundamental choices to make about the kind of country we want to be. Will we accept an economy where only a few of us do spectacularly well, or are we going to build an economy where everyone who works hard has a chance to get ahead?
Barack ObamaWhat is it about a work of art, even when it is bought and sold in the market, that makes us distinguish it from . . . pure commodities? A work of art is a gift, not a commodity. . . works of art exist simultaneously in two โeconomiesโ, a market economy and a gift economy. Only one of these is essential, however: a work of art can survive without the market, but where there is no gift, there is no art.
Lewis HydeWhat is worrisome about that is the U.S. standard of living. I think it is very difficult to envision our standard of living being preserved if we are in an economy where all people do is flip hamburgers, wait on people in stores, and sue each other. Itโs not much of a basis for an economy.
Wilbur RossThere'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.
Walter WristonI think the fundamentals of the economy are finally in the electronic economy and they are strong are we have reason for great optimism.
George W. BushThe money economy thus leaves a large ecological footprint, defined as the amount of land and resources required to meet a typical consumer's needs. For example, with only about 4% of the world's population, the United States, the largest money economy, consumes in excess of one-quarter of the world's energy and materials and generates in excess of 25 percent of the world's greenhouse gas emissions.
Stuart L. HartI think capitalism will not disappear, but it's going to increasingly not be the exclusive arbiter of economic life. It's going to have to find value in interacting with the sharing economy on many levels. And this hybrid system that's already emerging among millennials is going to be a mature system where, by midcentury, part of the day will be in the capitalist market, part of the day in the sharing economy, depending on your marginal costs.
Jeremy RifkinThe economy of the future might be called the "spaceman economy," in which the earth has become a single spaceship, without unlimited reservoirs of anything.
Kenneth E. BouldingWe are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India's entrepreneurs have the capacity, and the will to rise to the occasion.
Manmohan SinghThe military has a huge role in the economy [of Pakistan] with big stakes and, as you say, it has constantly intervened to make sure that it keeps its hold on policy making. Well, I hope, and there seem to be some signs, that the military is taking a backseat, not really in the economy, but in some of the policy issues. If that can continue, which perhaps it will, this will be a positive development.
Noam ChomskyContrary to what many skeptics had earlier believed, the Soviet economy is proof that a socialist command economy can function and even thrive.
Paul SamuelsonI am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals.
Albert EinsteinTeddy Kennedy's big new idea is to wheel out his 18th proposal to raise the minimum wage. He's been doing this since wages were paid in Spanish doubloons (which coincidentally are now mostly found underwater). Kennedy refuses to countenance any risky schemes like trying to grow the economy so people making minimum wage get raises because they've been promoted. Kennedy's going down and he's taking the party with him! (Recognize the pattern?)
Ann Coulter