Economic Illiteracy Quotes

The laws you see today are a direct consequence of economic illiteracy in the general population. If every voter learned economics tonight, the laws would change tomorrow. ~ Ben Mathew

Many people today think that the Tea Act - which led to the Boston Tea Party - was simply an increase in the taxes on tea paid by the American colonists. That's where the whole "Taxation Without Representation" meme came from.

Instead, the purpose of the Tea Act was to give the East India Company full and unlimited access to the American tea trade and to exempt the company from having to pay taxes to Britain on tea exported to the American colonies. It even gave the company a tax refund on millions of pounds of tea that it was unable to sell and holding in inventory.

In other words, the Tea Act was the largest corporate tax break in the history of the world. ~ Thom Hartmann

Taking money from job creating entrepreneurs and giving it to ever-failing government programs has to be the ultimate in economic illiteracy. ~ James Cook

With the help of prominent media outlets, the Royalists, now a political minority, would engage in a scorched-earth strategy to defeat a coming Progressive Revolution, even if it meant crashing the United States as we know it. If they were going down, then the rest of the nation was going down with them.

Which is exactly what happened. ~ Thom Hartmann

Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture, health care, and life sciences is directly related to scientific advancement. ~ Christopher Bond

I come from the school of thought that says when people have more money in their pocket during economic times, it increases demand or investment. Small businesses begin to grow, and jobs are added. ~ George W. Bush

The economic egalitarianism of the liberal ideology implies ... the reduction of Westerners to hunger and poverty. ~ James Burnham

Until the chance for political participation is there, we who are poor will continue to attack the soft part of the American system - its economic structure. We will build power through boycotts, strikes, new union - whatever techniques we can develop. These attacks on the status quo will come, not because we hate, but because we know America can construct a humane society for all its citizens - and that if it does not, there will chaos. ~ Cesar Chavez

As a consequence of the enormous social and technological changes of the last few centuries, the world is not working well. We do not live in traditional and static societies. But our government, in resisting change, act as if we did. Unless we destroy ourselves utterly, the future belongs to those societies that, while not ignoring the reptilian and mammalian parts of our being, enable the characteristically human components of our nature to flourish; to those societies that encourage diversity rather than conformity; to those societies willing to invest resources in a variety of social, political, economic and cultural experiments, and prepared to sacrifice short-term advantage for long-term benefit; to those societies that treat new ideas as delicate, fragile and immensely valuable pathways to the future. ~ Carl Sagan

Family members provided a variety of support--physical, economic, emotional, and psychological... Parents opened bank accounts for their children, even those who were adult, away from home, married, and employed. And children who left Richmond to search for work elsewhere provided for the money in their savings accounts to be used by other relatives, if needed, during their absence. In all these ways African American women and men testified to the notion of family members as having a mutual and continuing responsibility to help each other and to prepare for hard times. ~ Elsa Barkley Brown

Since high capacity utilization simultaneously raises efficiency and increases delay cost, we need to look at the combined impact of these two factors. We can only do so if we express both factors in the same unit of measure, life-cycle profits. If we do this, we will always conclude that operating a product development process near full utilization is an economic disaster. ~ Donald G. Reinertsen

We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it
to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice. ~ Lyndon B. Johnson

Feminist efforts to grant women social equality with men of their class neatly coincided with white supremacist capitalist patriarchal fears that white power would diminish if nonwhite people gained equal access to economic power and privilege. Supporting what in effect became white power reformist feminism enabled the mainstream white supremacist patriarchy to bolster its power while simultaneously undermining the radical politics of feminism. ~ Bell Hooks

What was the reason for invading Iraq' Was it a humanitarian crusade or an economic one' I would be inclined to say the latter. It was the same with the Civil War, because the landed gentry's money was being stolen by the king. ~ Dougray Scott

Religion has become so many different things. Religion is an economic thing for some people. Religion is a gun. ~ Ziggy Marley

Greater economic power will be in the hands of too few. ~ Robert Ludlum

The problem with political ideologues such as arch Brexiteer Jacob Rees-Mogg (a.k.a. JackOff Grease-Smug) is that they are totally divorced from reality with heads stuck firmly in the clouds. Add to that the priggish and rarefied demeanour of this particular outlandishly pompous ass and you end up with a complete disconnect with the way things actually work. Pragmatism and consensus articulated by compassionate people who live in the real world and with feet firmly on the ground must win the day with Britain's economic interests foremost in mind. Get on your Penny Farthing Jacob and start peddling fast. You are a tiresome irrelevance better consigned to a museum for musty relics. ~ Alex Morritt

Economic growth is necessary to keep the promise - enormously important to individual Americans - that each generation will have the opportunity to become more prosperous than the preceding one, the popular term for which is 'the American dream.' ~ Michael Mandelbaum

Financial illiteracy is like being in a rain storm and trying to jump in between the raindrops ... eventually it all catches you at the same time. ~ Johnnie Dent Jr.

If you or me go to the gas station to fill up our car and it costs us much more than we expected, it will zap our discretionary income. We won't have the extra money to buy that washing machine or new winter coat-all big ticket items that are important to economic growth. ~ Maria Bartiromo

No civilisation, not even that of ancient Greece, has ever undergone such a continuous and profound process of change as Western Europe has done during the last 900 years. It is impossible to explain this fact in purely economic terms by a materialistic interpretation of history. The principle of change has been a spiritual one and the progress of Western civilisation is intimately related to the dynamic ethos of Western Christianity, which has gradually made Western man conscious of his moral responsibility and his duty to change the world. ~ Christopher Dawson

Justice goes across racial and economic barriers - like the good Samaritan. ~ John M. Perkins

Women's entry into the public sphere can be seen not merely as the result of contemporary economic pressures, the high rate of divorce, or the success of the feminist movement, but rather as a profound evolutionary response to a pervasive cultural crisis. Feminine principles are entering the public realm because we can no longer afford to restrict them to the private domestic sphere, nor allow a public culture obsessed with Warrior values to control human destiny if we are to survive. ~ Sally Helgesen

In truth, neither the narrative of oppression and exploitation nor that of 'the White Man's burden' completely matches the facts. The European empires did so many different things on such a large scale, that you can find plenty of examples to support whatever you want to say about them. You think that these empires were evil monstrosities that spread death, oppression and injustice around the world? You could easily fill an encyclopedia with their crimes. You want to argue that they in fact improved the conditions of their subjects with new medicines, better economic conditions and greater security? You could fill another encyclopedia with their achievements. Due to their close cooperation with science, these empires wielded so much power and changed the world to such an extent that perhaps they cannot be simply labelled as good or evil. They created the world as we know it, including the ideologies we use in order to judge them. But ~ Yuval Noah Harari

The economic issues are most vital for us and it is of the highest importance that we should fight our biggest enemies - Poverty, unemployment. ~ Lal Bahadur Shastri

Every global concern - economic, environmental or security-related - can be addressed more effectively when the U.S. and China work together. ~ Henry Paulson

Now listen to the first three aims of the corporatist movement in Germany, Italy and France during the 1920s. These were developed by the people who went on to become part of the Fascist experience:
(1) shift power directly to economic and social interest groups;
(2) push entrepreneurial initiative in areas normally reserved for public bodies;
(3) obliterate the boundaries between public and private interest
that is, challenge the idea of the public interest.
This sounds like the official program of most contemporary Western governments. ~ John Ralston Saul

Tarek Mohamed Bouazizi, who burned himself to death in front of the governor's offices in the town of Sidi Bouzid in December 2010.12 Bouazizi killed himself precisely one hour after a policewoman, backed by two municipal officers, had seized from him two crates of pears, a crate of bananas, three crates of apples and a second-hand electronic weight scale worth $179. Those scales were his only capital. He did not have legal title to his family's home, which might otherwise have served as collateral for his business. His economic existence depended on the 'fees' he paid to officials to allow him to operate his fruit-stand on ~ Niall Ferguson

Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained. ~ Jim Stanford

What did we talk about?

I don't remember. We talked so hard and sat so still that I got cramps in my knee. We had too many cups of tea and then didn't want to leave the table to go to the bathroom because we didn't want to stop talking. You will think we talked of revolution but we didn't. Nor did we talk of our own souls. Nor of sewing. Nor of babies. Nor of departmental intrigue. It was political if by politics you mean the laboratory talk that characters in bad movies are perpetually trying to convey (unsuccessfully) when they Wrinkle Their Wee Brows and say (valiantly--dutifully--after all, they didn't write it) "But, Doctor, doesn't that violate Finagle's Constant?" I staggered to the bathroom, released floods of tea, and returned to the kitchen to talk. It was professional talk. It left my grey-faced and with such concentration that I began to develop a headache. We talked about Mary Ann Evans' loss of faith, about Emily Brontë's isolation, about Charlotte Brontë's blinding cloud, about the split in Virginia Woolf's head and the split in her economic condition. We talked about Lady Murasaki, who wrote in a form that no respectable man would touch, Hroswit, a little name whose plays "may perhaps amuse myself," Miss Austen, who had no more expression in society than a firescreen or a poker. They did not all write letters, write memoirs, or go on the stage. Sappho--only an ambiguous, somewhat disagreeable name. Corinna? The teacher of Pindar. Olive Schriener, gr ~ Joanna Russ

During my span of life science has become a matter of public concern and the l'art pour l'art standpoint of my youth is now obsolete. Science has become an integral and most important part of our civilization, and scientific work means contributing to its development. Science in our technical age has social, economic, and political functions, and however remote one's own work is from technical application it is a link in the chain of actions and decisions which determine the fate of the human race. I realized this aspect of science in its full impact only after Hiroshima. ~ Max Born

Quite apart from our desire to avoid destroying the planet or economic meltdown, I offer another reason to position cooperation at the heart of our political economy: it will mean we are more likely to live sane, fruitful lives ~ Oliver James

The situation - having to choose between imposing higher retail prices and reducing investments and military spending - created a dilemma for the government: deciding between conflict with the public or with the Party economic elite. But not making a decision heightened the risk that, as the crisis developed, there would be conflict with both the public and the elite.18 The new generation of leaders clearly did not understand this. The traditional management of the economy was oriented on natural, rather than abstract, parameters. The development of cattle breeding was discussed at the highest level more frequently than the country's budget. Industry and business leaders regarded finances as necessary but dreary bookkeeping.19 In addition, information on the real state of the budget, hard currency reserves, foreign debt, and balance of payments was available only to an extremely narrow circle of people, many of whom understood nothing about it anyway. ~ Yegor Gaidar

Capitalism designates an economic system significantly characterized by the predominance of " capital ." Capitalism and double entry bookkeeping are absolutely indissociable; their relationship to each other is that of form to content. ~ Werner Sombart

The greatest victory in living memory – of the United States over the Soviet Union – was achieved without any major military confrontation. The United States then got a fleeting taste of old-fashioned military glory in the First Gulf War, but this only tempted it to waste trillions on humiliating military fiascos in Iraq and Afghanistan. China, the rising power of the early twenty-first century, has assiduously avoided all armed conflicts since its failed invasion of Vietnam in 1979, and it owes its ascent strictly to economic factors. In this it has emulated not the Japanese, German and Italian empires of the pre-1914 era, but rather the Japanese, German and Italian economic miracles of the post-1945 era. In all these cases economic prosperity and geopolitical clout were achieved without firing a shot. ~ Yuval Noah Harari

Scientific understanding is our joy. Economic and political understanding is our duty. ~ Henry A. Wallace

Last Thursday, our Supreme Court backed that local governments can co-opt private property, and give it to another private entity, for economic development. ~ Cliff Stearns

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts. ~ Ron Paul

What can Americans learn from the Olympics spectacle? According to the IMF, China will succeed America as the dominant economic power in the course of the next presidential term, so Howard Fineman, editorial director of the Huffington Post and MSNBC mainstay, was anxious to pick up tips. 'Brits long ago lost their empire,' he tweeted, 'but overall show us how to lose global power gracefully.' So there's that. ~ Mark Steyn

The Northern onslaught upon slavery was no more than a piece of specious humbug designed to conceal its desire for economic control of the Southern states. ~ Charles Dickens

WE MADE A MONSTER OF HITLER, A DEVIL. THAT IS WHY (THEREFORE) WE COULD NOT AFTER THE WAR SAY OTHERWISE. WE HAD PERSONALLY MOBILISED THE MASSES NEVERTHELESS AGAINST THE DEVIL. THUS WE WERE FORCED AFTER THE WAR, TO PLAY ALONG WITH THIS DEVILS' SCENARIO. WE COULD NOT POSSIBLY HAVE MADE OUR PEOPLE CLEAR (TO THEM) THAT THE WAR WAS ONLY AN ECONOMIC PREVENTATIVE MEASURE! ~ James Baker

One hundred years of delay have passed since President Lincoln freed the slaves, yet their heirs, their grandsons, are not fully free. They are not yet freed from the bonds of injustice. They are not yet freed from social and economic oppression. And this nation, for all its hopes and all its boasts, will not be fully free until all its citizens are free. ~ John F. Kennedy

We exist to have our wealth moved up the economic chain out of our reach. ~ Roger Ebert

A flush works over my cheeks and grows when Rolondo says, "And here I thought I was pointing out the impact of our divergent socio-economic status when faced with potential agent induced incentives." We both look at each other for a second then laugh again. "Fucking Sociology major," I mutter. "Henry-muthafucka-Higgins. You gonna Eliza Doolittle me?" "There you go again, trying to get me to do you. Let the dream die, man. ~ Kristen Callihan