Quotes of All Topics . Occasions . Authors
I think gender inequality is a problem that goes back a long, long time. In human society, as a whole, women have tended to have a kind of inferior position - very often combined with playing up women as great role [models].
To the extent that the Trump administration doesn't like a strong dollar, something has got to give, and just yelling at other countries for devaluing when you're raising rates and they're cutting rates is not going to work.
It's clear that the medium and long-run fiscal challenges facing the country have to do with the rise of entitlement spending, they have to do with the longer run imbalances that we've created in the structure of the system.
For industry to settle in a country, you first need electricity; for electricity, you need some trained workers; for trained workers, you need some schools; for schools you need some money; for money, you need some industry.
I believe there should be some financial incentives to make the right choice: to make them to buy the right car or not to buy a car but using public transport systems. I believe that these financial incentives are important.
The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past.
It is possible for a dictator to govern in a liberal way. And it is also possible for a democracy to govern with a total lack of liberalism. Personally I prefer a liberal dictator to democratic government lacking liberalism.
In any society freedom of thought will probably be of direct significance 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.
If Hillary [Clinton] is elected, is she going to be able to jack up taxes with virtually no deductions, and include capital gains? Unless democrats have a clean sweep of Congress, I don't think that's going to happen either.
Presumably, technology has made man increasingly independent of his environment. But, in fact, technology has merely substituted nonrenewable resources for renewables, which is more an increase than a decrease in dependence.
Utility is a metaphysical concept of impregnable circularity; utility is the quality in commodities that makes individuals want to buy them, and the fact that individuals want to buy commodities shows that they have utility.
In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also,unfortunately, when there is just enough.
Sometimes, I repeat myself, and that was a second elimination [of Barack Obama]. I worked with a team, including a great editor who, as the project came together, suggested other additions and eliminations. It was a process.
Technology is going to revolutionize almost every sector, leading to the demise of many traditional professions. Economic and political power will be determined less by a country's size than by its technological superiority.
The biggest flaw in the Trump economic plan is the tilt toward protectionism. I have parted company with him on this. The question here is whether his campaign bark will turn out to be bigger than his government-policy bite.
I can't speak for them, of course, but I believe that most economists would accept the view that, while you sometimes can make a score by sheer luck, you can't do it constantly, unless you're willing to put the resources in.
The countries that have risen and separated out as a result of the collapse of the Soviet Union are, on the whole, following freer economic policies. Most of these states have freer government and less restrictions on trade.
It should be clear that modern fractional reserve banking is a shell game, a Ponzi scheme, a fraud in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by those receipts.
'The General Theory' was not truly revolutionary at all but merely old and oft-refuted mercantilist and inflationist fallacies dressed up in shiny new garb, replete with newly constructed and largely incomprehensible jargon.
The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.
In debates between anarchists and statists, the burden of proof clearly should rest on those who place their trust in the state. Anarchy's mayhem is wholly conjectural; the state's mayhem is undeniably, factually horrendous.
There is much of economic theory which is pursued for no better reason than its intellectual attraction; it is a good game. We have no reason to be ashamed of that, since the same would hold for many branches of mathematics.
I think the problem with schools is not too many incentives but too few. Because of tenure, teachers' unions, and the fact that teachers generally aren't observed in their classrooms, they can do whatever they want in class.
In spite of the extraordinary outpouring of totally and partially new products and new ways of doing things that we are witnessing today, by far the greatest flow of newness is not innovation at all. Rather, it is imitation.
The murder of a dozen innocent people is unquestionably a human tragedy. But that is no excuse for reacting blindly by preventing hundreds of thousands of other people from defending themselves against meeting the same fate.
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.
The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.
The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the publication of Institutions, Institutional Change and Economic Performance in 1990.
Political economy has disapproved equally of monopoly and communism in the various branches of human activity, wherever it has found them. Is it not then strange and unreasonable that it accepts them in the security industry?
Every principle that wants to command strong allegiance must make a moral case. Men want to feel that what they are doing is useful, but they want also, and mainly, to feel that it is right. Freedom is one of these principles
The man who is admired for the ingenuity of his larceny is almost always rediscovering some earlier form of fraud. The basic forms are all known, have all been practiced. The manners of capitalism improve. The morals may not.
We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you're going to have a weak economy unless something else happens.
Full employment is a socially hazardous goal. In effect, it aspires to restore through political expedients the pre-industrial state of toil that science, engineering, technology and modern management are pledged to overcome.
The benefits of a tariff are visible. Union workers can see they are "protected". The harm which a tariff does is invisible. It's spread widely. There are people that don't have jobs because of tariffs but they don't know it.
In the current world, with the skills needed, dropouts [like no secondary education] are condemned to being members of the underclass. In my view, this is a fault of the American school system, which is a government monopoly.
It has been estimated that even in the absence of net investment, the mere substitution of modern machinery for worn-out equipment in the United States would cause an annual productivity increase of approximately 1.5 percent.
The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.
The potential gains from improved stabilization policies are on the order of hundredths of a percent of consumption, perhaps two orders of magnitude smaller than the potential benefits of available supply-side fiscal reforms.
Brainy folks were also present in Lyndon Johnson's administration, especially in the Pentagon, where Secretary of Defense Robert McNamara's brilliant 'whiz kids' tried to micro-manage the Vietnam war, with disastrous results.
The people made worse off by slavery were those who were enslaved. Their descendants would have been worse off today if born in Africa instead of America. Put differently, the terrible fate of their ancestors benefitted them.
The most fundamental fact about the ideas of the political left is that they do not work. Therefore we should not be surprised to find the left concentrated in institutions where ideas do not have to work in order to survive.
Love is a four-letter word, but you don't hear in nearly as often as you hear some other four-letter words. It may be a sign of our times that everyone talks openly about sex, but we seem to be embarrassed to talk about love.
The government is indeed an institution, but "the market" is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his own situation and taste.
One of the wonderful things about free markets is that the path to greater wealth comes not from looting, plundering and enslaving one's fellow man, as it has throughout most of human history, but by serving and pleasing him.
You will perceive that economy, scientifically speaking, is a very contracted science; it is in fact a sort of vague mathematics which calculates the causes and effects of man's industry, and shows how it may be best applied.
Manufacturing capacity is not a rigid level against which one bounces. When you are dealing with a world economy, with a flexibility to employ production facilities other than one's own, then the concept of capacity is vaguer.
I encourage everyone I know to sign an organ donor card, but if someone doesn't want to sign, that's his or her choice. If someone isn't willing to give an organ, however, why should that person be allowed to receive an organ?
We enter the government essentially in a hotel that is on fire. We're throwing people from the windows into the pool to save their lives and this is the evaluation of the Olympic diving committee: Well, the splash was too big.
Neighborhoods and communities are complex organisms that will be resilient only if they are healthy along a number of interrelated dimensions, much as a human body cannot be healthy without adequate air, water, rest, and food.