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61 " What economists and political scientists today call the “rational choice of individuals,” but what Smith called “the individual pursuit of happiness,” leads according to this view in a mechanical way to general welfare. As Alexander Pope in his Essay on Man put it: “true Self Love and Social are the same.” While this is the foundation of liberal capitalism, Marx’s dialectical materialism is not different in its selection of the economy as the prime mover. In this way the economy becomes the most important purpose of society. Fortunately, the economy has laws of causation, or, at least, that is what economists would like us to believe. Statistics are gathered to provide an objectified view of reality that enables social engineering. The individual and the collective are simultaneously put in an economic framework that is secular not in the sense that it is nonreligious, since individuals can rationally pursue religious ends, but in the sense that a God-given order of society has been replaced by an order that is constantly produced by homo economicus” (p. 41). "
― , The Modern Spirit of Asia: The Spiritual and the Secular in China and India
62 " Charity fits the economy of scarcity, because it supports the blasphemous myth that the rich are rich because they deserve to be, and their riches are theirs to deal with as they please. With such charity, we are not worthy to tell the story of manna in the wilderness, to pretend to eat together at the Lord’s Supper, or claim the Year of Jubilee as our own. "
63 " Knowing that an economy is in decline is not enough. We must know why the economy is failing to achieve economic growth if we are to take steps to establish or reestablish it. "
― Jeffrey D. Sachs , The End of Poverty
64 " This resulted in a model of the macroeconomy as consisting of a single consumer, who lives for ever, consuming the output of the economy, which is a single good produced in a single firm, which he owns and in which he is the only employee, which pays him both profits equivalent to the marginal product of capital and a wage equivalent to the marginal product of labor, to which he decides how much labor to supply by solving a utility function that maximizes his utility over an infinite time horizon, which he rationally expects and therefore correctly predicts. The economy would always be in equilibrium except for the impact of unexpected ‘technology shocks’ that change the firm’s productive capabilities (or his consumption preferences) and thus temporarily cause the single capitalist/worker/consumer to alter his working hours. Any reduction in working hours is a voluntary act, so the representative agent is never involuntarily unemployed, he’s just taking more leisure. And there are no banks, no debt, and indeed no money in this model.You think I’m joking? I wish I was. "
― Steve Keen , Debunking Economics: The Naked Emperor Dethroned?
65 " In boom times companies have high profits. They increase production to satisfy demand for goods. This leads to excess supply. Companies cut prices to compete for customers. leading to lower profits, lay-offs, and economic depression. Eventually lower prices lead to an increase in demand and profits go back up. The economy is a yo-yo. "
― Niall Kishtainy , The Economics Book: Big Ideas Simply Explained
66 " 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
67 " 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. "
68 " 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
69 " 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
70 " As the economy is shifting, you need to have legitimate and creative sources of extra income. There are opportunities available that people have been using for years now. "
― Franklin Gillette , How to Make Extra Money at Home Right Now
71 " There are many peaceful ways to get rid of a fascist government and economic war against such a government is the best way amongst all these ways! And what is the economic war? It is to stop feeding the economy that feeds the fascist government, it is to take out your own individual brick from the wall of pro-government economy. Halt the food of the devil! Don’t forget that it is you who is feeding the hyena that bites you! "
― Mehmet Murat ildan
72 " Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is " creative destruction. "
73 " You know if the U.S. Government wanted to boost the economy there's a simple solution make Black Friday the refund date for your state and federal taxes "
― , Return to Stantasyland
74 " The stock market is almost magical because it always leads the economy. It goes down long before the economy drops and then heads higher long before the economy rebounds. It always has. "
75 " It was the economy that troubled most people prior to World War II. Europe, especially Germany, was dealing with a deep worldwide depression. Fascism was gaining a stronghold in Germany as well as in many other European countries. Although small and generally not popular, the Communist Party was the only organized group to stand in opposition to the Nazis. Small bands of these Communists occasionally attempted to disrupt the government by rioting in the streets. Occasionally gunfire would be heard, but very little could be done about it by a people that did not want to get involved. Hitler’s “Brown Shirts” were rapidly solidifying their position, and the Nazi Party was becoming stronger. Even though they frequently violated the National Constitution, they brought order to what had been chaos. The Treaty of Versailles, enacted after World War I, was hated by the German people, who felt that it suppressed them in a most demeaning way. Now however, Hitler was putting people to work building cars and an autobahn highway system that connected the larger cities. Modernization of airports and the development of a national railroad were all in violation of the imposed international regulations. Now however, workers were bringing paychecks home and could once again feed their families. Therefore, little thought was given to Hitler’s power grab. Germany was emerging from the dark era following World War I, and things were getting better. The Vaterland was regaining its strength, without regard to what France and other European countries thought.... After all, what could they, or would they, do about it? "
― Hank Bracker
76 " A confidential report delivered in June 1965 by Abel Aganbegyan, director of the Novobirsk Institute of Economics, highlighted the difficulties. Aganbegyan noted that the growth rate of the Soviet economy was beginning to decline, just as the rival US economy seemed particularly buoyant; at the same time, some sectors of the Soviet economy - housing, agriculture, services, retail trade - remained very backward, and were failing to develop at an adequate rate. The root causes of this poor performance he saw in the enormous commitment of resources to defense (in human terms, 30-40 million people out of a working population of 100 million, he reckoned), and the 'extreme centralism and lack of democracy in economic matters' which had survived from the past. In a complex modern society, he argued, not everything could be planned, since it was impossible to foresee all possible contingencies and their potential effects. So the plan amounted to central command, and even that could not be properly implemented for lack of information and of modern data-processing equipment. 'The Central Statistical Administration ... does not have a single computer, and is not planning to acquire any,' he commented acidly. Economic administration was also impeded by excessive secrecy: 'We obtain many figures... from American journals sooner than they are released by the Central Statistical Administration.' Hence the economy suffered from inbuilt distortions: the hoarding of goods and labour to provide for unforeseen contingencies, the production of shoddy goods to fulfill planning targets expressed in crude quantitative terms, the accumulation of unused money by a public reluctant to buy substandard products, with resultant inflation and a flourishing black market. "
77 " As an ancient cradle of Iron Age civilization, Zimbabwe has a great emotional importance to the economy of Southern Africa and that's especially true for Botswana since both countries are landlocked. Harare was the site of some historic scenes and the best trade regimes, and it is where generations of Southern African children have gone for their education. Bulawayo was a trade giant amongst the people of the north – the Bakalanga, the Venda and the Shona. Now brick-by-brick the empire was facing a second fall after the last fall of the Great Zimbabwe. "
― Thabo Katlholo , The Mud Hut I Grew Upon
78 " 13 million Indians will join the workforce every year from now till 2030. They know their prospects aren’t good. Here’s why: in the years from 1972 to 1983—not celebrated as a time of overwhelming prosperity—the total number of jobs in the economy nevertheless grew 2.3 per cent a year. In the years between liberalization in 1991 and today, jobs have grown at an average of only 1.6 per cent a year. But, if these young people have to be absorbed, then jobs must grow at least 3 per cent a year—almost twice the rate at which they have since liberalization. This is simply not happening. In other words, one out of every two youngsters who starts looking for a job next year won’t find one. "
― , Restart: The Last Chance for the Indian Economy
79 " It was a generation growing in its disillusionment about the deepening recession and the backroom handshakes and greedy deals for private little pots of gold that created the largest financial meltdown since the Great Depression. As heirs to the throne, we all knew, of course, how bad the economy was, and our dreams, the ones we were told were all right to dream, were teetering gradually toward disintegration. However, on that night, everyone seemed physically at ease and exempt from life’s worries with final exams over and bar class a distant dream with a week before the first lecture, and as I looked around at the jubilant faces and loud voices, if you listened carefully enough you could almost hear the culmination of three years in the breath of the night gasp in an exultant sigh as if to say, “Law school was over at last! "
― Daniel Amory , Minor Snobs
80 " The problem with the 'masculinity crisis' is not that women have excelled too much and therefore created a crisis for men, but that we have such a stein inability to let go of what it has traditionally meant to be a man...As long as we perpetuate the myth that men have inherent qualities that make them more suitable than women for certain types of work, the shifting nature of the economy (and women's attainment of better jobs) is going to continue to be interpreted as a crisis of masculinity. "
― Samhita Mukhopadhyay , Outdated: Why Dating Is Ruining Your Love Life
