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Electricity is an example of a general purpose technology, like the steam engine before it. General purpose technologies drive most economic growth, because they unleash cascades of complementary innovations, like lightbulbs and, yes, factory redesign.
President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for moving forward on reforming the financial system, making sure that the banks are carrying enough capital.
Within the U.S., the Obama presidency will be mainly measured by the success or failure of his economic policies. And here, I fear, the monstrous stimulus package with which this administration stumbled out of the gate will prove to be Obama's Waterloo.
I should like to suggest to you that the cause of all the economic troubles is that we have an economic system which tries to maintain an equality of value between two things, which it would be better to recognise from the beginning as of unequal value.
And I want to thank Bernie Sanders. Bernie, your campaign inspired millions of Americans, particularly the young people who threw their hearts and souls into our primary. You've put economic and social justice issues front and center, where they belong.
Ultimately, we didn't go to Germany to create a democracy. We went to overthrow Adolf Hitler. But once a democracy was there, Germany was a much bigger supporter of and help to our national interests, both economic and security than had ever been before.
Assess Bitcoins? All you can do is examine the trading patterns, which do not provide a real analysis of any underlying economic value. The economics of investments are not solely based on supply and demand, and that is all that goes into Bitcoin prices.
I think the economic empowerment of women that has been growing over the past decade is at the 'inflection point' with this global recession. Women are, we believe, the solution for their families in their ability to go out and increase household income.
But what I believe is that if a person's individual rights or right to be a part of our economic system is violated under statute, we aggressively go after it. But we don't issue mandates to businesses that you've got to do this and you've got to do that.
The American middle class used to be envy of the world. It was a byproduct of economic freedom. We had a very dynamic free-market economy and limited government. People were out there pursuing their own self-interest and creating employment opportunities.
There are no military options for Iran. Attack them, and they will destroy the Gulf States oil industries, rain hundreds of missiles onto Israel, close the Arabian Gulf, and shoot oil prices to $300 per barrel, which could cause our own economic downfall.
Don't get me wrong, I am a proud Republican, and I want to support my party. I am a firm believer in the Republican principles of smaller government, low taxes and economic freedom. I have spent my time in government service fighting for these principles.
You look at what animates Democratic voters; you look at what animates Democratic politicians: it's health care. It's increasingly climate. It is wages and economic issues. It's issues around reproductive freedom and criminal justice reform and inequality.
For most of the 20th century, we didn't just enjoy economic success in Michigan, we defined it. Our innovators and entrepreneurs created the world's most productive companies, and our unions made sure that productivity led to broad middle class prosperity.
Election days come and go. But the struggle of the people to create a government which represents all of us and not just the one percent - a government based on the principles of economic, social, racial and environmental justice - that struggle continues.
America's experience, like many others, teaches us that fostering entrepreneurship is not just about crafting the right economic policy or developing the best educated curricula. It's about creating an entire climate in which innovation and ideas flourish.
To me, its seems necessary to rediscover - and the energy to do so exists - that even the political and economic spheres need moral responsibility, a responsibility that is born in man's heart and, in the end, has to do with the presence or absence of God.
A variety of national and international studies indicate that the broad-based deployment of information technology can have a substantial impact on our nation's economic productivity and growth as well as the educational and social success of our citizens.
It's not just the effect of technology on the environment, on religion, on the economic structure, on society, on politics, etc. It's that everything now exists in technology to the point where technology is the new and comprehensive host of nature of life.
I think that the roots of racism have always been economic, and I think people are desperate and scared. And when you're desperate and scared you scapegoat people. It exacerbates latent tendencies toward - well, toward racism or homophobia or anti-Semitism.
Fundamentally, the solution to economic insecurity is economic prosperity - an achievable goal. But for anyone who has grown up without financial security, there's a shadow that lies over even those who move towards independence: lack of financial literacy.
From a social point of view, it's beneficial that homeownership encourages commitment to a given town or city. But, from an economic point of view, it's good for people to be able to leave places where there's less work and move to places where there's more.
We couldn't be making as much money, if we had to deal with stranger behaviour. And right now, anybody who slows down our economic productivity, off they go. We have a place for them, the psychiatric institution. That's the main thing, they slow things down.
A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.
Any religion that professes to be concerned about the souls of men and is not concerned about the slums that damn them, the economic conditions that strangle them and the social conditions that cripple them is a spiritually moribund religion awaiting burial.
Using static scoring, tax cuts are broadly assumed to 'cost' a raw amount of reduced revenue. With dynamic scoring, the new revenue likely to flow from increased economic activity produced by a tax cut is considered, improving the accuracy of the projection.
You have to take away some of tax breaks for the wealthy, and you have to cut back on some entitlements. Because, unless we do all of these things, it just doesn't work. And what's good theater and what's good politics isn't necessarily good economic policy.
The Amazon is not just a set of trees. It is a set of 25 million people. If we don't create real economic opportunities for them, the practical result is to encourage disorganized economic activities that results in the further destruction of the rain forest.
We have a responsibility as a state to protect our most vulnerable citizens: our children, seniors, people with disabilities. That is our moral obligation. But there is an economic justification too - we all pay when the basic needs of our citizens are unmet.
It is a wonderful and unexpected honor to receive the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Receiving this prize with Joseph Stiglitz and George Akerlof, whose work I have learned from and admired, makes it even more gratifying.
The highly functional infrastructure that surrounds us, particularly in the West, is a gift from our ancestors: the comparatively uncorrupt political and economic systems, the technology, the wealth, the lifespan, the freedom, the luxury, and the opportunity.
The Bush tax cuts should be extended permanently for families with annual incomes of less than $250,000 and should be phased out slowly for those making more than that. Raising taxes on anyone now, when the economic recovery is so fragile, would be a mistake.
In addition to relieving patient suffering, research is needed to help reduce the enormous economic and social burdens posed by chronic diseases such as osteoporosis, arthritis, diabetes, Parkinson's and Alzheimer's diseases, cancer, heart disease, and stroke.
Although it's the second largest country in the world, our useful area has been reduced. Our immigration policy is disgusting: We plunder southern countries by depriving them of future leaders, and we want to increase our population to support economic growth.
Revolution is about the need to re-evolve political, economic and social justice and power back into the hands of the people, preferably through legislation and policies that make human sense. That's what revolution is about. Revolution is not about shootouts.
Incarceration and recidivism rates high? Providing people an incentive to stay out of jail while also providing them some level of economic security while they get back on their feet - both accomplished by a UBI - sounds like a great way to solve that problem.
Our people can draw on the tremendous strides made in recent years, not only in terms of advancing themselves spiritually and materially, but also in having weathered social and economic turbulence, triggered, in the main, by factors not of their own creation.
Free Trade puts consumers at the centre of economic activity. It lowers the cost of imports, which gives people the opportunity to buy more with the same amount of money: domestic producers have to compete with the lowest global costs or invest in new business.
Obama's view of the tax code is inherently political: Whom can we hit next? Energy companies, jet owners, bankers? Instead, the question should be how to promote economic efficiency by raising revenue without trying to manipulate corporate or personal behavior.
It is fair to say that Africa has become a major force in moving the world towards multi-polarity, an important emerging market that helps promote global economic recovery and integration, and an outstanding representative of diverse civilizations in the world.
The first nation to develop a vaccine for Covid-19 could have an economic advantage as well as a tremendous public-health achievement. Doses will be limited initially as suppliers ramp up, and a country will focus on inoculating most of its own population first.
My documentary 'Split Decision' examines Cuban-American relations, and the economic and cultural paradoxes that have shaped them since Castro's revolution, through the lens of elite Cuban boxers forced to choose between remaining in Cuba or defecting to America.
Farmers the world over, in dealing with costs, returns and risks, are calculating economic agents. Within their small, individual, allocative domain, they are fine-tuning entrepreneurs, tuning so subtly that many experts fail to recognize how efficient they are.
To protect our country's economic future and the health and well being of all Americans, we must find a way to rein in out-of-control costs, provide quality, affordable health care choices to all, and make outrageous insurance industry abuses a thing of the past.
I define leadership as: Emotionally, you own your business. You own it with passion. And you either have or you don't have an economic investment. But when you have all three of those, you are the boss from Day One, and you care every single day more than anyone.
Providing financial incentives for both local communities and national governments to conserve and restore forests also makes sense. It will put an economic value on these precious natural resources and drive the right behaviours from both government and business.
The claim made by Team Obama that every dollar in stimulus translates into a dollar-and-a-half in growth is economic fiction. The costs of stimulus reduce future growth. No country has ever spent itself to prosperity. The price of stimulus has to be paid sometime.
The British economy of the future must be built not on the shifting sands of boom and bust, but on the bedrock of prudent and wise economic management for the long term. It is only these firm foundations that we can raise Britain's underlying economic performance.
We will find neither national purpose nor personal satisfaction in a mere continuation of economic progress, in an endless amassing of worldly goods. We cannot measure national spirit by the Dow Jones Average, nor national achievement by the Gross National Product.
We have got to cut the spending. We have got to fix Medicare and Social Security. And actually, if we don't cut spending, this country is already broke. We are going off the financial cliff: the big cliff that is going to cause a total economic collapse of America.