Economic Growth Quotes

We've searched our database for all the quotes and captions related to Economic Growth. Here they are! All 100 of them:

Rejection is an opportunity for your selection.
Bernard Branson
When learning is purposeful, creativity blossoms. When creativity blossoms, thinking emanates. When thinking emanates, knowledge is fully lit. When knowledge is lit, economy flourishes.
A.P.J. Abdul Kalam (Indomitable Spirit)
Obesity is a double victory for consumerism. Instead of eating little, which will lead to economic contraction, people eat too much and then buy diet products - contributing to economic growth twice over.
Yuval Noah Harari (קיצור תולדות האנושות)
The conservatives are fools: They whine about the decay of traditional values, yet they enthusiastically support technological progress and economic growth. Apparently it never occurs to them that you can't make rapid, drastic changes in the technology and the economy of a society without causing rapid changes in all other aspects of the society as well, and that such rapid changes inevitably break down traditional values.
Theodore J. Kaczynski (Industrial Society and Its Future)
Your comfort zone is a place where you keep yourself in a self-illusion and nothing can grow there but your potentiality can grow only when you can think and grow out of that zone.
Rashedur Ryan Rahman
Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
An economic system which can only expand or expire must be false to all that is human.
Edward Abbey (Desert Solitaire)
Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.
Kenneth E. Boulding
The promoters of the global economy...see nothing odd or difficult about unlimited economic growth or unlimited consumption in a limited world.
Wendell Berry (Another Turn of the Crank: Essays)
Look, America is no more a democracy than Russia is a Communist state. The governments of the U.S. and Russia are practically the same. There's only a difference of degree. We both have the same basic form of government: economic totalitarianism. In other words, the settlement to all questions, the solutions to all issues are determined not by what will make the people most healthy and happy in the bodies and their minds but by economics. Dollars or rubles. Economy uber alles. Let nothing interfere with economic growth, even though that growth is castrating truth, poisoning beauty, turning a continent into a shit-heap and riving an entire civilization insane. Don't spill the Coca-Cola, boys, and keep those monthly payments coming.
Tom Robbins (Another Roadside Attraction)
Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic growth and political change and those wishing to limit the economic and political power of existing elites.
Daron Acemoğlu (Why Nations Fail: The Origins of Power, Prosperity, and Poverty)
Growth is limited by the necessity which is present in the least amount. And naturally, the least favorable condition controls the growth rate
Frank Herbert (Dune (Dune, #1))
For most Americans, economic growth is a spectator sport.
Paul Krugman
If a thing can be said in ten words, I may be relied upon to take a hundred to say it. I ought to apologize for that. I ought to prune, pare and extirpate excess growth, but I will not. I like words—strike that, I love words—and while I am fond of the condensed and economical use of them in poetry, in song lyrics, in Twitter, in good journalism and smart advertising, I love the luxuriant profusion and mad scatter of them too.
Stephen Fry (The Fry Chronicles)
governments don't produce economic growth people do.
Ronald Reagan (An American Life)
Imperialism was born when the ruling class in capitalist production came up against national limitations to its economic expansion. The bourgeoisie turned to politics out of economic necessity; for if it did not want to give up the capitalist system whose inherent law is constant economic growth, it had to impose this law upon its home governments and to proclaim expansion to be an ultimate political goal of foreign policy.
Hannah Arendt (The Origins of Totalitarianism)
Why do farmers farm, given their economic adversities on top of the many frustrations and difficulties normal to farming? And always the answer is: "Love. They must do it for love." Farmers farm for the love of farming. They love to watch and nurture the growth of plants. They love to live in the presence of animals. They love to work outdoors. They love the weather, maybe even when it is making them miserable. They love to live where they work and to work where they live. If the scale of their farming is small enough, they like to work in the company of their children and with the help of their children. They love the measure of independence that farm life can still provide. I have an idea that a lot of farmers have gone to a lot of trouble merely to be self-employed to live at least a part of their lives without a boss.
Wendell Berry (Bringing it to the Table: On Farming and Food)
It has been decided by our leaders that economic growth is more important. That the extinction crisis is an acceptable trade for their greed.
Charlotte McConaghy (Migrations)
Every society clings to a myth by which it lives. Ours is the myth of economic growth.
Tim Jackson
Economic growth and technological change are accompanied by what the great economist Joseph Schumpeter called creative destruction. They replace the old with the new. New sectors attract resources away from old ones. New firms take business away from established ones. New technologies make existing skills and machines obsolete.
Daron Acemoğlu (Why Nations Fail: The Origins of Power, Prosperity, and Poverty)
If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation.
James C. Collins (Good to Great and the Social Sectors: A Monograph to Accompany Good to Great)
Hypocrisy, double standards, and "but nots" are the price of universalist pretensions. Democracy is promoted, but not if it brings Islamic fundamentalists to power; nonproliferation is preached for Iran and Iraq, but not for Israel; free trade is the elixir of economic growth, but not for agriculture; human rights are an issue for China, but not with Saudi Arabia; aggression against oil-owning Kuwaitis is massively repulsed, but not against non-oil-owning Bosnians. Double standards in practice are the unavoidable price of universal standards of principle.
Samuel P. Huntington (The Clash of Civilizations and the Remaking of World Order)
Internet articles can be used to give direction to your research, but the real research will start after that. You can read The New York Times, The Washington Post, Forbes, Economic Times, or Entrepreneur as much as you want but these still can’t replace market research.
Pooja Agnihotri (17 Reasons Why Businesses Fail :Unscrew Yourself From Business Failure)
The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the 'capabilities' of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain. That is the basis of progressive policy—not maximising economic growth and personal incomes. Nowhere will this be more important than in tackling the greatest problem facing us this century, the environmental crisis. Whatever ideological logo we choose for it, it will mean a major shift away from the free market and towards public action, a bigger shift than the British government has yet envisaged. And, given the acuteness of the economic crisis, probably a fairly rapid shift. Time is not on our side.
Eric J. Hobsbawm
Your VISION and your self-willingness is the MOST powerful elements to conquer your goal
Rashedur Ryan Rahman
The world has also learned that economic growth, by itself, cannot close the gap between rich and poor.
Dalai Lama XIV (Compassion or Competition?)
..the planet is just too small for these developing countries to repeat the economic growth in the same way that the rich countries have done it in the past. We don't have enough natural resources, we don't have enough atmosphere. Clearly, something has to change.
Mario J. Molina
The hope that fuels the pursuit of endless economic growth – that billions of consumers in India & China will one day enjoy the lifestyles of Europeans and Americans – is as absurd & dangerous a fantasy as anything dreamt up by Al-Qaeda. It condemns the global environment to early destruction & looks set to create reservoirs of nihilistic rage & disappointment among hundreds of millions of have-nots – the bitter outcome of the universal triumph of Western Modernity, which turns the revenge of the East into something darkly ambiguous, and all its victories truly Pyrrhic.
Pankaj Mishra (From the Ruins of Empire: The Revolt Against the West and the Remaking of Asia)
Economic growth has liberated societies from the natural pressures that forced them into an immediate struggle for survival; but they have not yet been liberated from their liberator. The commodity’s independence has spread to the entire economy it now dominates. This economy has transformed the world, but it has merely transformed it into a world dominated by the economy.
Guy Debord (The Society of the Spectacle)
The social phenomenon of economic growth is, thanks to the principle of the conservation of matter, nothing other than the physical phenomenon of increasing resource depletion.
Craig Dilworth (Too Smart for our Own Good: The Ecological Predicament of Humankind)
A deepening class divide makes social mobility all but impossible. The result is a de facto caste system. This is not only morally wrong but also tremendously wasteful. Denying access to opportunity for large segments of the population means throwing away vast reserves of talent and brainpower. It’s also been shown to dampen economic growth.
Jessica Bruder (Nomadland: Surviving America in the Twenty-First Century)
Only in economics is endless expansion seen as a virtue. In biology it is called cancer.
David Pilling (The Growth Delusion: The Wealth and Well-Being of Nations)
As soon as you open your mind to doing things differently, the doors of opportunity practically fly off their hinges.
Jay Abraham (The Sticking Point Solution: 9 Ways to Move Your Business from Stagnation to Stunning Growth InTough Economic Times)
Even if we could grow our way out of the crisis and delay the inevitable and painful reconciliation of virtual and real wealth, there is the question of whether this would be a wise thing to do. Marginal costs of additional growth in rich countries, such as global warming, biodiversity loss and roadways choked with cars, now likely exceed marginal benefits of a little extra consumption. The end result is that promoting further economic growth makes us poorer, not richer.
Herman E. Daly (For the Common Good: Redirecting the economy toward community, the environment, and a sustainable future.)
Is it any wonder that the cultural archetype of my generation is the Nerd, whose apps and gadgets symbolize the hope of economic growth? “The best minds of my generation are thinking about how to make people click ads,” a former math whiz at Facebook recently lamented.
Rutger Bregman (Utopia for Realists: And How We Can Get There)
My dream—the solution—is that we would have a National Entrepreneur Day, with the following message: Most of you will fail, disrespected, impoverished, but we are grateful for the risks you are taking and the sacrifices you are making for the sake of the economic growth of the planet and pulling others out of poverty. You are at the source of our antifragility. Our nation thanks you.
Nassim Nicholas Taleb (Antifragile: Things That Gain From Disorder)
Malthus has been buried many times, and Malthusian scarcity with him. But as Garrett Hardin remarked, anyone who has to be reburied so often cannot be entirely dead.
Herman E. Daly (Steady-State Economics: The Economics of Biophysical Equilibrium and Moral Growth)
Global economic growth will soon clash with physical barriers. It is physically impossible to fulfil the ideal of progressivism: the spread of techno-scientific consumer culture to ten billion people. When this dream has faded, another will emerge.
Guillaume Faye (Archeofuturism: European Visions of the Post-Catastrophic Age)
Every tree in every forest is participating in investment activities….. capital allocation, energy flow, resourcefulness, utilization, leverage, information distribution, growth, value creation, and ROI…. Nature is an economy, and every tree is an investor in that economy. Sometimes I just sit in my back yard, observe, and take notes.
Hendrith Vanlon Smith Jr.
We’re going to stop this preposterous obsession with economic growth at the cost of all else. Great economic success doesn’t produce national happiness. It produces Republicans and Switzerland. So we’re going to concentrate on just being lovely and pleasant and civilized. We’re going to have the best schools and hospitals, the most comfortable public transportation, the liveliest arts, the most useful and well-stocked libraries, the grandest parks, the cleanest streets, the most enlightened social policies. In short, we’re going to be like Sweden, but with less herring and better jokes.
Bill Bryson (The Road to Little Dribbling: More Notes from a Small Island)
They cannot see that growth for the sake of growth is a cancerous madness, that Phoenix and Albuquerque will not be better cities to live in when their populations are doubled again and again. They would never understand that an economic system which can only expand or expire must be false to all that is human.
Edward Abbey (Desert Solitaire)
In nature, there is no such thing as waste. Every output is upcycled into new inputs of equal or greater value. This creates a cycle of productive utility, continuous growth and continuous expansion. I like to invest in companies that follow nature’s example.
Hendrith Vanlon Smith Jr.
The permaculture economy embraces themes from natural biospheres to facilitate growth and more life that gives value to and receives value from all lives within the permaculture economy.
Hendrith Vanlon Smith Jr.
The world has a very serious problem, my friend' Shiva went on. 'Poor children still die by their millions. Westerners and the global rich -- like me -- live in post-scarcity society, while a billion people struggle to get enough to eat. And we're pushing the planet towards a tipping point, where the corals die and the forests burn and life becomes much, much harder. We have the resources to solve those problems, even now, but politics and economics and nationalism all get in the way. If we could access all those minds, though...
Ramez Naam (Crux (Nexus, #2))
Can social progress be made without government? It's like saying 'can happiness be achieved without the initiation of violence? Can romance be achieved without rape? Can profitability be achieved without theft? Can economic growth be achieved without the mass indebted enslavement and counterfeiting of the federal reserve?'.
Stefan Molyneux
Ego-identification with things creates attachment to things, which in turn creates our consumer society and economic structures where the only measure of progress is always more. The unchecked striving for more, for endless growth, is a dysfunction and a disease. It is the same dysfunction the cancerous cell manifests, whose only goal is to multiply itself, unaware that it is bringing about its own destruction by destroying the organism of which it is a part. Some economists are so attached to the notion of growth that they can't let go of that word, so they refer to recession as a time of "negative growth".
Eckhart Tolle (A New Earth: Awakening to Your Life's Purpose)
Perhaps the answer is that it is necessary to slow down, finally giving up on economistic fanaticism and collectively rethink the true meaning of the word “wealth.” Wealth does not mean a person who owns a lot, but refers to someone who has enough time to enjoy what nature and human collaboration place within everyone’s reach. If the great majority of people could understand this basic notion, if they could be liberated from the competitive illusion that is impoverishing everyone’s life, the very foundations of capitalism, would start to crumble (p. 169).
Franco "Bifo" Berardi
Free money works. Already, research has correlated unconditional cash disbursements with reductions in crime, child mortality, malnutrition, teenage pregnancy, and truancy, and with improved school performance, economic growth, and gender equality.13 “The big reason poor people are poor is because they don’t have enough money,” notes economist Charles Kenny, “and it shouldn’t come as a huge surprise that giving them money is a great way to reduce that problem.
Rutger Bregman (Utopia for Realists: And How We Can Get There)
Clean energy might help deal with emissions, but it does nothing to reverse deforestation, overfishing, soil depletion and mass extinction. A growth-obsessed economy powered by clean energy will still tip us into ecological disaster.
Jason Hickel (Less Is More: How Degrowth Will Save the World)
Both political parties have moved to the right during the neoliberal period. Today’s New Democrats are pretty much what used to be called “moderate Republicans.” The “political revolution” that Bernie Sanders called for, rightly, would not have greatly surprised Dwight Eisenhower. The fate of the minimum wage illustrates what has been happening. Through the periods of high and egalitarian growth in the ‘50s and ‘60s, the minimum wage—which sets a floor for other wages—tracked productivity. That ended with the onset of neoliberal doctrine. Since then, the minimum wage has stagnated (in real value). Had it continued as before, it would probably be close to $20 per hour. Today, it is considered a political revolution to raise it to $15.
Noam Chomsky
We must realize that growth is but an adolescent phase of life which stops when physical maturity is reached. If growth continues in the period of maturity it is called obesity or cancer. Prescribing growth as the cure for the energy crisis has all the logic of prescribing increasing quantities of food as a remedy for obesity.
Albert A. Bartlett
Autumn is a momentum of the natures golden beauty…, so the same it’s time to find your momentum of life
Rashedur Ryan Rahman
Environmental degradation is an iatrogenic disease induced by economic physicians who treat the basic malady of unlimited wants by prescribing unlimited growth.... Yet one certainly does not cure a treatment-induced disease by increasing the treatment dosage.
Herman E. Daly (Steady-State Economics)
Poor kids, through no fault of their own, are less prepared by their families, their schools, and their communities to develop their God-given talents as fully as rich kids. For economic productivity and growth, our country needs as much talent as we can find, and we certainly can’t afford to waste it. The opportunity gap imposes on all of us both real costs and what economists term “opportunity costs.
Robert D. Putnam (Our Kids: The American Dream in Crisis)
How you think and create your inner world that you gonna become in your outer world. Your inner believe manifest you in the outside
Rashedur Ryan Rahman
Your traditional EDUCATION is not going to CHANGE your life but the life you are experiencing that can change you. Choose a POSITIVE life STYLE with positive ATTITUDE which could bring you a life with HAPPINESS and WISDOM
Rashedur Ryan Rahman
For three decades almost all the gains from economic growth have gone to the top. In the 1960s and 1970s, the wealthiest 1 percent of Americans got 9–10 percent of our total income. By 2007, just before the Great Recession, that share had more than doubled, to 23.5 percent. Over the same period the wealthiest one-tenth of 1 percent tripled its share. We haven’t experienced this degree of concentrated wealth since the Gilded Age of the late nineteenth century.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
Every civilisation has had its irrational but reassuring myth. Previous civilisations have used their culture to sing about it and tell stories about it. Ours has used its mathematics to prove it.
David Fleming (Lean Logic: A Dictionary for the Future and How to Survive It)
It is worse, much worse, than you think. The slowness of climate change is a fairy tale, perhaps as pernicious as the one that says it isn’t happening at all, and comes to us bundled with several others in an anthology of comforting delusions: that global warming is an Arctic saga, unfolding remotely; that it is strictly a matter of sea level and coastlines, not an enveloping crisis sparing no place and leaving no life undeformed; that it is a crisis of the “natural” world, not the human one; that those two are distinct, and that we live today somehow outside or beyond or at the very least defended against nature, not inescapably within and literally overwhelmed by it; that wealth can be a shield against the ravages of warming; that the burning of fossil fuels is the price of continued economic growth; that growth, and the technology it produces, will allow us to engineer our way out of environmental disaster; that there is any analogue to the scale or scope of this threat, in the long span of human history, that might give us confidence in staring it down. None of this is true. But let’s begin with the speed of change. The earth has experienced five mass extinctions before the one we are living through now, each so complete a wiping of the fossil record that it functioned as an evolutionary reset, the planet’s phylogenetic tree first expanding, then collapsing, at intervals, like a lung: 86 percent of all species dead, 450 million years ago; 70 million years later, 75 percent; 125 million years later, 96 percent; 50 million years later, 80 percent; 135 million years after that, 75 percent again. Unless you are a teenager, you probably read in your high school textbooks that these extinctions were the result of asteroids. In fact, all but the one that killed the dinosaurs involved climate change produced by greenhouse gas. The most notorious was 250 million years ago; it began when carbon dioxide warmed the planet by five degrees Celsius, accelerated when that warming triggered the release of methane, another greenhouse gas, and ended with all but a sliver of life on Earth dead. We are currently adding carbon to the atmosphere at a considerably faster rate; by most estimates, at least ten times faster. The rate is one hundred times faster than at any point in human history before the beginning of industrialization. And there is already, right now, fully a third more carbon in the atmosphere than at any point in the last 800,000 years—perhaps in as long as 15 million years. There were no humans then. The oceans were more than a hundred feet higher.
David Wallace-Wells (The Uninhabitable Earth: Life After Warming)
It is driven not by a small band of men but by a concept that has become accepted as gospel: the idea that all economic growth benefits humankind and that the greater the growth, the more widespread the benefits. This belief also has a corollary: that those people who excel at stoking the fires of economic growth should be exalted and rewarded, while those born at the fringes are available for exploitation.
John Perkins (Confessions of an Economic Hit Man)
Sustainability is a new idea to many people, and many find it hard to understand. But all over the world there are people who have entered into the exercise of imagining and bringing into being a sustainable world. They see it as a world to move toward not reluctantly, but joyfully, not with a sense of sacrifice, but a sense of adventure. A sustainable world could be very much better than the one we live in today.
Donella H. Meadows (Limits to Growth: The 30-Year Update)
For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they—unlike most human beings—have the means of production, and human beings, because they—unlike all companies—have the means of reproduction.
Mokokoma Mokhonoana (The Use and Misuse of Children)
We don't think a sustainable society need be stagnant, boring, uniform, or rigid. It need not be, and probably could not be, centrally controlled or authoritarian. It could be a world that has the time, the resources, and the will to correct its mistakes, to innovate, to preserve the fertility of its planetary ecosystems. It could focus on mindfully increasing quality of life rather than on mindlessly expanding material consumption and the physical capital stock.
Donella H. Meadows (Limits to Growth: The 30-Year Update)
But what is now encompassed by the one word (“school”) are two very different kinds of institutions that, in function, finance and intention, serve entirely different roles. Both are needed for our nation’s governance. But children in one set of schools are educated to be governors; children in the other set of schools are trained for being governed. The former are given the imaginative range to mobilize ideas for economic growth; the latter are provided with the discipline to do the narrow tasks the first group will prescribe.
Jonathan Kozol (Savage Inequalities: Children in America's Schools)
What does economic growth actually mean? It means more consumption – and consumption of a specific kind: more consumption of goods and services that are exchanged for money. That means that if people stop caring for their own children and instead pay for childcare, the economy grows. The same if people stop cooking for themselves and purchase restaurant takeaways instead. Economists say this is a good thing. After all, you wouldn’t pay for childcare or takeaway food if it weren’t of benefit to you, right? So, the more things people are paying for, the more benefits are being had. Besides, it is more efficient for one daycare centre to handle 30 children than for each family to do it themselves. That’s why we are all so much richer, happier and less busy than we were a generation ago. Right?
Charles Eisenstein
It’s not growth itself that matters – what matters is how income is distributed, and the extent to which it is invested in public services. And past a certain point, more GDP isn’t necessary for improving human welfare at all.
Jason Hickel (Less Is More: How Degrowth Will Save the World)
The overriding aim of this book is to seek viable responses to the biggest dilemma of our times: reconciling our aspirations for the good life with the constraints of a finite planet.
Tim Jackson (Prosperity without Growth: Economics for a Finite Planet)
If the automobile had followed the same development as the computer, a Rolls Royce would today cost $100 and get a million miles per gallon, and explode once a year killing everyone inside. —Robert X. Cringely, InfoWorld magazine
Robert J. Gordon (The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War (The Princeton Economic History of the Western World Book 60))
If you are not EXCITED enough at your present life its mean your future is not EXITING. Excitement will give you ENTHUSIASM and enthusiasm will give you a positive energetic LIFE STYLE which could give you a successful exiting life…
Rashedur Ryan Rahman
Every Spring, nature teaches a class on business entrepreneurship. ....We see how capital is re-allocated, currencies are re-directed, growth is re-emphasized, and numerous life forms promote their value with re-vitalized marketing programs that implement flowers or seeds or aromas or habitability or pollination in an effort demonstrate a unique value proposition in a busy economy.
Hendrith Vanlon Smith Jr.
Since human needs are finite, but human greed is not, economic growth can usually be maintained through artificial creation of needs by means of advertising. The goods that are produced and sold in this way are often unneeded, and thus are essentially waste. The pollution and depletion of natural resources generated by this enormous waste of unnecessary goods is exacerbated by the waste of energy and materials in inefficient production processes. Indeed, as we discuss in Chapter 17, the
Fritjof Capra (The Systems View of Life: A Unifying Vision)
The most central and irrational faith among people is the faith in technology and economical growth. Its priests believe until their death that material prosperity bring enjoyment and happiness - even though all the proofs in history have shown that only lack and attempt cause a life worth living, that the material prosperity doesn't bring anything else than despair. These priests believe in technology still when they choke in their gas masks.
Pentti Linkola (Can Life Prevail?)
It is simplistic and naive to explain jihadism merely as an inevitable growth from Islam’s ‘violent’ scripture, or as no more than a miscarried interpretation triggered solely by some tragic misreading. It cannot be separated from economic discontent, the enveloping context of US global power, America’s influence and military actions in the Muslim world and, most of all, the gaping sore of the Israel–Palestine conflict.
Jonathan A.C. Brown (Misquoting Muhammad: The Challenge and Choices of Interpreting the Prophet's Legacy)
I was also troubled by the apparent over-confidence of a generation that has only known stability, growth and prosperity. I thought our people should understand how vulnerable Singapore was and is, the dangers that beset us, and how we nearly did not make it. Most of all, I hope that they will know that honest and effective government, public order and personal security, economic and social progress did not come about as the natural course of events.
Lee Kuan Yew (The Singapore Story: Memoirs of Lee Kuan Yew)
China the Communist Party still pays lip service to traditional Marxist–Leninist ideals, but in practice it is guided by Deng Xiaoping’s famous maxims that ‘development is the only hard truth’ and that ‘it doesn’t matter if a cat is black or white, so long as it catches mice’. Which means, in plain language: do anything it takes to promote economic growth, even if Marx and Lenin wouldn’t have been happy with it. In Singapore, as befits that no-nonsense city state, they followed this line of thinking even further, and pegged ministerial salaries to the national GDP. When the Singaporean economy grows, ministers get a raise, as if that is what their job is all about
Yuval Noah Harari (Homo Deus: A History of Tomorrow)
All these assumptions lead to still more implications, ones that shape attitudes, identities, and debates about policy. If slavery was outside of US history, for instance—if indeed it was a drag and not a rocket booster to American economic growth—then slavery was not implicated in US growth, success, power, and wealth. Therefore none of the massive quantities of wealth and treasure piled by that economic growth is owed to African Americans. Ideas about slavery’s history determine the ways in which Americans hope to resolve the long contradiction between the claims of the United States to be a nation of freedom and opportunity, on the one hand, and, on the other, the unfreedom, the unequal treatment, and the opportunity denied that for most of American history have been the reality faced by people of African descent.
Edward E. Baptist (The Half Has Never Been Told: Slavery and the Making of American Capitalism)
In neo-classical economic theory, it is claimed without evidence that people are basically self-seeking, that they want above all the satisfaction of their material desires: what economists call "maximising utility". The ultimate objective of mankind is economic growth, and that is maximized only through raw, and lightly regulated, competition. If the rewards of this system are spread unevenly, that is a necessary price. Others on the planet are to be regarded as either customers, competitors or factors of production. Effects upon the planet itself are mere "externalities" to the model, with no reckoning of the cost - at least for now. Nowhere in this analysis appears factors such as human cooperation, love, trust, compassion or hatred, curiosity or beauty. Nowhere appears the concept of meaning. What cannot be measured is ignored. But the trouble is that once our basic needs for shelter and food have been met, these factors may be the most important of all.
Carne Ross (The Leaderless Revolution: How Ordinary People Will Take Power and Change Politics in the 21st Century)
So at the end of the day, although we will try to stitch together the best evidence for these theories, the result will be tentative. We have already seen that growth is hard to measure. It is even harder to know what drives it, and therefore to make policy to make it happen. Given that, we will argue, it may be time to abandon our profession’s obsession with growth.
Abhijit V. Banerjee (Good Economics for Hard Times: Better Answers to Our Biggest Problems)
But a progressive policy needs more than just a bigger break with the economic and moral assumptions of the past 30 years. It needs a return to the conviction that economic growth and the affluence it brings is a means and not an end. The end is what it does to the lives, life-chances and hopes of people. Look at London. Of course it matters to all of us that London's economy flourishes. But the test of the enormous wealth generated in patches of the capital is not that it contributed 20%-30% to Britain's GDP but how it affects the lives of the millions who live and work there. What kind of lives are available to them? Can they afford to live there? If they can't, it is not compensation that London is also a paradise for the ultra-rich. Can they get decently paid jobs or jobs at all? If they can't, don't brag about all those Michelin-starred restaurants and their self-dramatising chefs. Or schooling for children? Inadequate schools are not offset by the fact that London universities could field a football team of Nobel prize winners.
Eric J. Hobsbawm
When we ask ourselves what is an economy; I think the best place to find the answer to that question is in a forest. Go and sit in a forest and observe with all of your sensory faculties, and meditate there. And while you're observing and meditating, ask yourself questions about everything. And if you want maybe hit a few puffs of a certain herb while you're meditating there. And you'll find out exactly what an economy is. And you'll also find out exactly what business is. And all of the economic and business concepts like capital allocation and liquidity and service and profit and growth... It'll all start to make more sense as you sit there meditating in that forest.
Hendrith Vanlon Smith Jr. (Principles of a Permaculture Economy)
GNP is therefore in a certain sense a value-neutral quantity: a measure of activity, not of activity of any kind of value. A first argument against continued growth is just this. The GNP does not give any guarantee of meaningfulness of that which is created. Growth in GNP does not imply any growth in access to intrinsic values and progress along the course of self-realization. Obviously any kind of economic growth which is not related to intrinsic values is neutral or detrimental. The measure of GNP is somehow related to the fierceness of activity in the society but this fierceness may very well have more to do with a lack of ability of the members of the society to engage in meaningful activity than a measure of something humanity should look upon with joy. There is no clear relation to life quality.
Arne Næss (Ecology, Community and Lifestyle)
To the Congress: Unhappy events abroad have retaught us two simple truths about the liberty of a democratic people. The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is Fascism—ownership of Government by an individual, by a group, or by any other controlling private power. The second truth is that the liberty of a democracy is not safe if its business system does not provide employment and produce and distribute goods in such a way as to sustain an acceptable standard of living. Both lessons hit home. Among us today a concentration of private power without equal in history is growing. This concentration is seriously impairing the economic effectiveness of private enterprise as a way of providing employment for labor and capital and as a way of assuring a more equitable distribution of income and earnings among the people of the nation as a whole.
Franklin D. Roosevelt
A remarkably consistent finding, starting with elementary school students, is that males are better at math than females. While the difference is minor when it comes to considering average scores, there is a huge difference when it comes to math stars at the upper extreme of the distribution. For example, in 1983, for every girl scoring in the highest percentile in the math SAT, there were 11 boys. Why the difference? There have always been suggestions that testosterone is central. During development, testosterone fuels the growth of a brain region involved in mathematical thinking and giving adults testosterone enhances their math skills. Oh, okay, it's biological. But consider a paper published in science in 2008. The authors examined the relationship between math scores and sexual equality in 40 countries based on economic, educational and political indices of gender equality. The worst was Turkey, United States was middling, and naturally, the Scandinavians were tops. Low and behold, the more gender equal the country, the less of a discrepancy in math scores. By the time you get to the Scandinavian countries it's statistically insignificant. And by the time you examine the most gender equal country on earth at the time, Iceland, girls are better at math than boys. Footnote, note that the other reliable sex difference in cognition, namely better reading performance by girls than by boys doesn't disappear in more gender equal societies. It gets bigger. In other words, culture matters. We carry it with us wherever we go.
Robert M. Sapolsky (Behave: The Biology of Humans at Our Best and Worst)
What Asia's postwar economic miracle demonstrates is that capitalism is a path toward economic development that is potentially available to all countries. No underdeveloped country in the Third World is disadvantaged simply because it began the growth process later than Europe, nor are the established industrial powers capable of blocking the development of a latecomer, provided that country plays by the rules of economic liberalism.
Francis Fukuyama (The End of History and the Last Man)
Anybody can throw a basketball toward a hoop. But only a relative few can exercise the athletic prowess of dribbling down the court, account for and surpass a variety of obstacles, and actually get the ball into the hoop consistently and repetitively contributing toward an ultimate win for the team. In the same way, anyone can open an investment account with M1 or Acorns or Robinhood or Cashapp… or even with the big guys like Ameritrade or Fidelity or Charles Schwabb or Morgan Stanley… but only a relative few can navigate an ever-changing economic paradigm, overcome various financial, legal and social obstacles, maintaining alignment with values, and achieve substantial growth and profits - contributing toward an ultimate win for the team. It’s better to hire a professional investor if you expect professional results.
Hendrith Vanlon Smith Jr.
To put it bluntly, it is not clear that cheering for innovation in the bombastic way we see in the blue states actually improves the economic well-being of average citizens. For example, the last fifteen years have been a golden age of financial and software innovation, but they have been feeble in terms of GDP growth. In ideological terms, however, innovation definitely works: as a way of excusing soaring inequality and explaining the exalted status of the rich, it's the best we've got.
Thomas Frank (Listen, Liberal: Or, What Ever Happened to the Party of the People)
The Profit function: Individual profits cause collective growth and prosperity. It is necessary for individual people and businesses to profit in a Permaculture Economy where justice is maintained and fairly applied. Profits are earned when efficiency is mastered. With profits, individuals invest in (a) new and innovative means of production which will allow more profits, or (b) buying products and services from other individuals who are also seeking profit by providing value. Profits also incentivize individuals to be productive participants in society to begin with. If there will be no profit in an activity, business or industry, then individuals will decline participation in that activity, business or industry. Since profits are only possible when buyers are satisfied with the productivity of sellers, then it is also true that an individuals willingness to participate in an activity, business or industry is preceded by the buyers satisfaction which allows the seller to profit. But when buyers are dissatisfied and decline participation, it forces sellers to decline participation. Inversely, if profits are eradicated through the force of price-controls by the government, then sellers will decline participation which then causes buyers to decline participation. And when both sellers and buyers decline participation, then whole industries and economies collapse.
Hendrith Vanlon Smith Jr. (Principles of a Permaculture Economy)
Individual profits cause collective growth and prosperity. It is necessary for individual people, businesses, and companies to profit, in a Permaculture Economy where justice is maintained and fairly applied. Profits are earned when efficiency is mastered. With profits, individuals invest in (a) new and innovative means of production which will allow more profits, or (b) they use profits to buy products or services from other individuals who are also seeking profit by providing value. Profits also incentivize individuals to be productive to begin with. If there will be no profit in an activity, business or industry, then individuals will decline participation. Since profits are only possible when buyers are satisfied with the productivity of sellers, then it is also true that an individual's willingness to participate in an activity, business or industry is preceded by the buyers satisfaction which allows them to profit. So, when buyers decline participation it forces sellers to decline participation. Inversely, if profits are removed through force of price controls by the government, then sellers will decline participation which then causes buyers to decline participation.
Hendrith Vanlon Smith Jr. (Principles of a Permaculture Economy)
The metaphysical mutation that gave rise to materialism and modern science in turn spawned two great trends: rationalism and individualism. Huxley’s mistake was in having poorly evaluated the balance of power between these two. Specifically, he underestimated the growth of individualism brought about by an increased consciousness of death. Individualism gives rise to freedom, the sense of self, the need to distinguish oneself and to be superior to others. A rational society like the one he describes in Brave New World can defuse the struggle. Economic rivalry—a metaphor for mastery over space—has no more reason to exist in a society of plenty, where the economy is strictly regulated. Sexual rivalry—a metaphor for mastery over time through reproduction—has no more reason to exist in a society where the connection between sex and procreation has been broken. But Huxley forgets about individualism. He doesn’t understand that sex, even stripped of its link with reproduction, still exists—not as a pleasure principle, but as a form of narcissistic differentiation. The same is true of the desire for wealth. Why has the Swedish model of social democracy never triumphed over liberalism? Why has it never been applied to sexual satisfaction? Because the metaphysical mutation brought about by modern science leads to individuation, vanity, malice and desire. Any philosopher, not just Buddhist or Christian, but any philosopher worthy of the name, knows that, in itself, desire—unlike pleasure—is a source of suffering, pain and hatred.
Michel Houellebecq (The Elementary Particles)
A policing of sex: that is, not the rigor of a taboo, but the necessity of regulating sex through useful and public discourses. A few examples will suffice. One of the great innovations in the techniques of power in the eighteenth century was the emergence of “population” as an economic and political problem: population as wealth, population as manpower or labor capacity, population balanced between its own growth and the resources it commanded. Governments perceived that they were not dealing simply with subjects, or even with a “people,” but with a “population,” with its specific phenomena and its peculiar variables: birth and death rates, life expectancy, fertility, state of health, frequency of illnesses, patterns of diet and habitation.
Michel Foucault (The History of Sexuality, Volume 1: An Introduction)
The difference between a sustainable society and a present-day economic recession is like the difference between stopping and automobile purposefully with the brakes versus stopping it by crashing into a brick wall. When the present economy overshoots, it turns around too quickly and unexpectedly for people and enterprises to retrain, relocate, and readjust. A deliberate transition to sustainability would take place slowly enough, and with enough forewarning, to that people and businesses could find their places in the new economy.
Donella H. Meadows (Limits to Growth: The 30-Year Update)
A definite pessimist believes the future can be known, but since it will be bleak, he must prepare for it. Perhaps surprisingly, China is probably the most definitely pessimistic place in the world today. When Americans see the Chinese economy grow ferociously fast (10% per year since 2000), we imagine a confident country mastering its future. But that’s because Americans are still optimists, and we project our optimism onto China. From China’s viewpoint, economic growth cannot come fast enough. Every other country is afraid that China is going to take over the world; China is the only country afraid that it won’t. China can grow so fast only because its starting base is so low. The easiest way for China to grow is to relentlessly copy what has already worked in the West. And that’s exactly what it’s doing: executing definite plans by burning ever more coal to build ever more factories and skyscrapers. But with a huge population pushing resource prices higher, there’s no way Chinese living standards can ever actually catch up to those of the richest countries, and the Chinese know it. This is why the Chinese leadership is obsessed with the way in which things threaten to get worse. Every senior Chinese leader experienced famine as a child, so when the Politburo looks to the future, disaster is not an abstraction. The Chinese public, too, knows that winter is coming. Outsiders are fascinated by the great fortunes being made inside China, but they pay less attention to the wealthy Chinese trying hard to get their money out of the country. Poorer Chinese just save everything they can and hope it will be enough. Every class of people in China takes the future deadly seriously.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
There needs to be an intersection of the set of people who wish to go, and the set of people who can afford to go...and that intersection of sets has to be enough to establish a self-sustaining civilisation. My rough guess is that for a half-million dollars, there are enough people that could afford to go and would want to go. But it’s not going to be a vacation jaunt. It’s going to be saving up all your money and selling all your stuff, like when people moved to the early American colonies...even at a million people you’re assuming an incredible amount of productivity per person, because you would need to recreate the entire industrial base on Mars. You would need to mine and refine all of these different materials, in a much more difficult environment than Earth. There would be no trees growing. There would be no oxygen or nitrogen that are just there. No oil.Excluding organic growth, if you could take 100 people at a time, you would need 10,000 trips to get to a million people. But you would also need a lot of cargo to support those people. In fact, your cargo to person ratio is going to be quite high. It would probably be 10 cargo trips for every human trip, so more like 100,000 trips. And we’re talking 100,000 trips of a giant spaceship...If we can establish a Mars colony, we can almost certainly colonise the whole Solar System, because we’ll have created a strong economic forcing function for the improvement of space travel. We’ll go to the moons of Jupiter, at least some of the outer ones for sure, and probably Titan on Saturn, and the asteroids. Once we have that forcing function, and an Earth-to-Mars economy, we’ll cover the whole Solar System. But the key is that we have to make the Mars thing work. If we’re going to have any chance of sending stuff to other star systems, we need to be laser-focused on becoming a multi-planet civilisation. That’s the next step.
Elon Musk
Looking back on the fifty years since I first became aware of its flaws, the word that summarizes my feelings about Neoclassical economics today is that it is, as Marx once described the proto-Neoclassical Jean-Baptiste Say, ‘dull’ [...] Its vision of capitalism at its best is a system manifesting the harmony of equilibrium, where everyone is paid their just return (their ‘marginal product’), growth is occurring smoothly at a rate that maximizes social utility through time, and everyone is motivated by consumption – rather than accumulation and power – because, to quote Say, ‘the producers, though they have all of them the air of demanding money for their goods, do in reality demand merchandise for their merchandise’ [...] What a bland picture of the complex, changing world in which we live!
Steve Keen (The New Economics: A Manifesto)
In an exchange economy everybody’s money income is somebody else’s cost. Every increase in hourly wages, unless or until compensated by an equal increase in hourly productivity, is an increase in costs of production. An increase in costs of production, where the government controls prices and forbids any price increase, takes the profit from marginal producers, forces them out of business, means a shrinkage in production and a growth in unemployment. Even where a price increase is possible, the higher price discourages buyers, shrinks the market, and also leads to unemployment. If a 30 percent increase in hourly wages all around the circle forces a 30 percent increase in prices, labor can buy no more of the product than it could at the beginning; and the merry-go-round must start all over again.
Henry Hazlitt (Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics)
All of this highlights several important ideas. First, growth under authoritarian, extractive political institutions in China, though likely to continue for a while yet, will not translate into sustained growth, supported by truly inclusive economic institutions and creative destruction. Second, contrary to the claims of modernization theory, we should not count on authoritarian growth leading to democracy or inclusive political institutions. China, Russia, and several other authoritarian regimes currently experiencing some growth are likely to reach the limits of extractive growth before they transform their political institutions in a more inclusive direction—and in fact, probably before there is any desire among the elite for such changes or any strong opposition forcing them to do so. Third, authoritarian growth is neither desirable nor viable in the long run, and thus should not receive the endorsement of the international community as a template for nations in Latin America, Asia, and sub-Saharan Africa, even if it is a path that many nations will choose precisely because it is sometimes consistent with the interests of the economic and political elites dominating them. Y
Daron Acemoğlu (Why Nations Fail: The Origins of Power, Prosperity and Poverty)
Now and then I am asked as to "what books a statesman should read," and my answer is, poetry and novels—including short stories under the head of novels. I don't mean that he should read only novels and modern poetry. If he cannot also enjoy the Hebrew prophets and the Greek dramatists, he should be sorry. He ought to read interesting books on history and government, and books of science and philosophy; and really good books on these subjects are as enthralling as any fiction ever written in prose or verse. Gibbon and Macaulay, Herodotus, Thucydides and Tacitus, the Heimskringla, Froissart, Joinville and Villehardouin, Parkman and Mahan, Mommsen and Ranke—why! there are scores and scores of solid histories, the best in the world, which are as absorbing as the best of all the novels, and of as permanent value. The same thing is true of Darwin and Huxley and Carlyle and Emerson, and parts of Kant, and of volumes like Sutherland's "Growth of the Moral Instinct," or Acton's Essays and Lounsbury's studies—here again I am not trying to class books together, or measure one by another, or enumerate one in a thousand of those worth reading, but just to indicate that any man or woman of some intelligence and some cultivation can in some line or other of serious thought, scientific or historical or philosophical or economic or governmental, find any number of books which are charming to read, and which in addition give that for which his or her soul hungers. I do not for a minute mean that the statesman ought not to read a great many different books of this character, just as every one else should read them. But, in the final event, the statesman, and the publicist, and the reformer, and the agitator for new things, and the upholder of what is good in old things, all need more than anything else to know human nature, to know the needs of the human soul; and they will find this nature and these needs set forth as nowhere else by the great imaginative writers, whether of prose or of poetry.
Theodore Roosevelt (Theodore Roosevelt: An Autobiography)
[Neurotic] pride is both so vulnerable and so precious that it also must be protected in the future. The neurotic may build an elaborate system of avoidances in the hope of circumventing future hurts. This too is a process that goes on automatically. He is not aware of wanting to avoid an activity because it might hurt his pride. He just avoids it, often without even being aware that he is. The process pertains to activities, to associations with people, and it may put a check on realistic strivings and efforts. If it is widespread it can actually cripple a person's life. He does not embark on any serious pursuits commensurate with his gifts lest he fail to be a brilliant success. He would like to write or to paint and does not dare to start. He does not dare to approach girls lest they reject him. [...] He withdraws from social contacts lest he be self-conscious. So, according to his economic status, he either does nothing worthwhile or sticks to a mediocre job and restricts his expenses rigidly. In more than one way he lives beneath his means. In the long run this makes it necessary for him to withdraw farther from others, because he cannot face the fact of lagging behind his age group and therefore shuns comparisons or questions from anybody about his work. In order to endure life he must now entrench himself more firmly in his private fantasy-world. But, since all these measures are more a camouflage than a remedy for his pride, he may start to cultivate his neuroses because the neurosis with a capital N then becomes a precious alibi for the lack of accomplishment.
Karen Horney (Neurosis and Human Growth: The Struggle Towards Self-Realization)
Fifteen years ago, a business manager from the United States came to Plum Village to visit me. His conscience was troubled because he was the head of a firm that designed atomic bombs. I listened as he expressed his concerns. I knew if I advised him to quit his job, another person would only replace him. If he were to quit, he might help himself, but he would not help his company, society, or country. I urged him to remain the director of his firm, to bring mindfulness into his daily work, and to use his position to communicate his concerns and doubts about the production of atomic bombs. In the Sutra on Happiness, the Buddha says it is great fortune to have an occupation that allows us to be happy, to help others, and to generate compassion and understanding in this world. Those in the helping professions have occupations that give them this wonderful opportunity. Yet many social workers, physicians, and therapists work in a way that does not cultivate their compassion, instead doing their job only to earn money. If the bomb designer practises and does his work with mindfulness, his job can still nourish his compassion and in some way allow him to help others. He can still influence his government and fellow citizens by bringing greater awareness to the situation. He can give the whole nation an opportunity to question the necessity of bomb production. Many people who are wealthy, powerful, and important in business, politics, and entertainment are not happy. They are seeking empty things - wealth, fame, power, sex - and in the process they are destroying themselves and those around them. In Plum Village, we have organised retreats for businesspeople. We see that they have many problems and suffer just as others do, sometimes even more. We see that their wealth allows them to live in comfortable conditions, yet they still suffer a great deal. Some businesspeople, even those who have persuaded themselves that their work is very important, feel empty in their occupation. They provide employment to many people in their factories, newspapers, insurance firms, and supermarket chains, yet their financial success is an empty happiness because it is not motivated by understanding or compassion. Caught up in their small world of profit and loss, they are unaware of the suffering and poverty in the world. When we are not int ouch with this larger reality, we will lack the compassion we need to nourish and guide us to happiness. Once you begin to realise your interconnectedness with others, your interbeing, you begin to see how your actions affect you and all other life. You begin to question your way of living, to look with new eyes at the quality of your relationships and the way you work. You begin to see, 'I have to earn a living, yes, but I want to earn a living mindfully. I want to try to select a vocation not harmful to others and to the natural world, one that does not misuse resources.' Entire companies can also adopt this way of thinking. Companies have the right to pursue economic growth, but not at the expense of other life. They should respect the life and integrity of people, animals, plants and minerals. Do not invest your time or money in companies that deprive others of their lives, that operate in a way that exploits people or animals, and destroys nature. Businesspeople who visit Plum Village often find that getting in touch with the suffering of others and cultivating understanding brings them happiness. They practise like Anathapindika, a successful businessman who lived at the time of the Buddha, who with the practise of mindfulness throughout his life did everything he could to help the poor and sick people in his homeland.
Thich Nhat Hanh (Creating True Peace: Ending Violence in Yourself, Your Family, Your Community, and the World)
The charge that Anarchism is destructive, rather than constructive, and that, therefore, Anarchism is opposed to organization, is one of the many falsehoods spread by our opponents. They confound our present social institutions with organization; hence they fail to understand how we can oppose the former, and yet favor the latter. The fact, however, is that the two are not identical. “The State is commonly regarded as the highest form of organization. But is it in reality a true organization? Is it not rather an arbitrary institution, cunningly imposed upon the masses? “Industry, too, is called an organization; yet nothing is farther from the truth. Industry is the ceaseless piracy of the rich against the poor. “We are asked to believe that the Army is an organization, but a close investigation will show that it is nothing else than a cruel instrument of blind force. “The Public School! The colleges and other institutions of learning, are they not models of organization, offering the people fine opportunities for instruction? Far from it. The school, more than any other institution, is a veritable barrack, where the human mind is drilled and manipulated into submission to various social and moral spooks, and thus fitted to continue our system of exploitation and oppression. “Organization, as WE understand it, however, is a different thing. It is based, primarily, on freedom. It is a natural and voluntary grouping of energies to secure results beneficial to humanity. “It is the harmony of organic growth which produces variety of color and form, the complete whole we admire in the flower. Analogously will the organized activity of free human beings, imbued with the spirit of solidarity, result in the perfection of social harmony, which we call Anarchism. In fact, Anarchism alone makes non-authoritarian organization of common interests possible, since it abolishes the existing antagonism between individuals and classes. “Under present conditions the antagonism of economic and social interests results in relentless war among the social units, and creates an insurmountable obstacle in the way of a co-operative commonwealth. “There is a mistaken notion that organization does not foster individual freedom; that, on the contrary, it means the decay of individuality. In reality, however, the true function of organization is to aid the development and growth of personality. “Just as the animal cells, by mutual co-operation, express their latent powers in formation of the complete organism, so does the individual, by co-operative effort with other individuals, attain his highest form of development. “An organization, in the true sense, cannot result from the combination of mere nonentities. It must be composed of self-conscious, intelligent individualities. Indeed, the total of the possibilities and activities of an organization is represented in the expression of individual energies. “It therefore logically follows that the greater the number of strong, self-conscious personalities in an organization, the less danger of stagnation, and the more intense its life element. “Anarchism asserts the possibility of an organization without discipline, fear, or punishment, and without the pressure of poverty: a new social organism which will make an end to the terrible struggle for the means of existence,—the savage struggle which undermines the finest qualities in man, and ever widens the social abyss. In short, Anarchism strives towards a social organization which will establish well-being for all. “The germ of such an organization can be found in that form of trades unionism which has done away with centralization, bureaucracy, and discipline, and which favors independent and direct action on the part of its members.
Emma Goldman (Anarchism and Other Essays)