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Read through the most famous quotes by topic #economic
Probably it is true enough that the great majority are rarely capable of thinking independently, that on most questions they accept views which they find ready-made, and that they will be equally content if born or coaxed into one set of beliefs or another. In any society freedom of thought will probably be of direct significance only for a small minority. But this does not mean that anyone is competent, or ought to have power, to select those to whom this freedom is to be reserved. It certainly does not justify the presumption of any group of people to claim the right to determine what people ought to think or believe. ↗
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. ↗
Our hopes of avoiding the fate which threatens must...[be to make]adjustments that will be needed if we are to recover and surpass our former standards...and only if every one of us is ready to individually obey the necessities of readjustment shall we be able to get through a difficult period as free men who can choose their own way of life. Let a uniform minimum be secured to everybody by all means; but let us admit at the same time that with this assurance of a basic minimum all claims for a privileged security for particular classes must lapse.... ↗
#life
Christ represents originally: 1) men before God; 2) God for men; 3) men to man. Similarly, money represents originally, in accordance with the idea of money: 1) private property for private property; 2) society for private property; 3) private property for society. But Christ is alienated God and alienated man. God has value only insofar as he represents Christ, and man has value only insofar as he represents Christ. It is the same with money. ↗
