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Read through the most famous quotes by topic #economic
A rather vicious cycle has been at work for years. Reduced taxes on the rich leave them with more money to influence politicians and politics. Their influence wins them further tax reductions, which gives them still more money to put to political use. When the loss of tax revenue from the rich worsens already strained government budgets, the rich press politicians to cut public services and government jobs and not even debate a return to the higher taxes the rich used to pay. So it goes – from Washington, to Wisconsin, to New York City. ↗
In my considered opinion, salary is payment for goods delivered and it must conform to the law of supply and demand. If, therefore, the fixed salary is a violation of this law - as, for instance, when I see two engineers leaving college together and both equally well trained and efficient, and one getting forty thousand while the other only earns two thousand , or when lawyers and hussars, possessing no special qualifications, are appointed directors of banks with huge salaries - I can only conclude that their salaries are not fixed according to the law of supply and demand but simply by personal influence. And this is an abuse important in itself and having a deleterious effect on government service. ↗
#economics #government #salaries #supply-and-demand #tolstoy
History, practical experience, common sense and economic theory all agree: economic competition is probably one of the greatest ideas humans ever came up with. When people compete to achieve the same goal, great things seem to happen that otherwise would not. Things get done faster, cheaper, and better; new methods for lifting a weight or quenching a thirst are invented; the average guy ends up with more of the stuff he likes at a lower price than before. That is why, in the end, socialism collapsed like a rotten wall: it did not allow its people to compete and, as a result, it not only made their economic life miserable, but strangled their hearts and souls. ↗
The experience of history should lead us to hope and strive to make the world better, not to despair and resign ourselves to fate. ↗
This points to a nagging and important question about free-market ideologues: Are they ‘true believers’, driven by ideology and faith that free markets will cure underdevelopment, as is often asserted, or do the ideas and theories frequently serve as an elaborate rationale to allow people to act on unfettered greed while still invoking an altruistic motive? ↗
#economics #free-market-ideology #milton-friedman #shock-doctrine #faith
Reconciliation means that those who have been on the underside of history must see that there is a qualitative difference between repression and freedom. And for them, freedom translates into having a supply of clean water, having electricity on tap; being able to live in a decent home and have a good job; to be able to send your children to school and to have accessible health care. I mean, what's the point of having made this transition if the quality of life of these people is not enhanced and improved? If not, the vote is useless.' -archbishop Desmond Tutu, chair of South Africa's Truth and Reconciliation Committee, 2001 ↗
The minimum wage was enacted in 1937 during the Great Depression and it has been increased 16 times. It's a well-established economic policy to help families. ↗
Anyone who says that economic security is a human right, has been to much babied. While he babbles, other men are risking and losing their lives to protect him. They are fighting the sea, fighting the land, fighting disease and insects and weather and space and time, for him, while he chatters that all men have a right to security and that some pagan god—Society, The State, The Government, The Commune—must give it to them. Let the fighting men stop fighting this inhuman earth for one hour, and he will learn how much security there is. ↗
