Financially Responsible Quotes

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Unless today is well lived, tomorrow is not important.
Alan Sakowitz (Miles Away... Worlds Apart)
The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
John Kenneth Galbraith (The Great Crash 1929)
You don’t have to get a job that makes others feel comfortable about what they perceive as your success. You don’t have to explain what you plan to do with your life. You don’t have to justify your education by demonstrating its financial rewards. You don’t have to maintain an impeccable credit score. Anyone who expects you to do any of those things has no sense of history or economics or science or the arts. You have to pay your electric bill. You have to be kind. You have to give it all you got. You have to find people who love you truly and love them back with the same truth. But that’s all.
Cheryl Strayed (Tiny Beautiful Things: Advice on Love and Life from Dear Sugar)
When we begin to set boundaries with people we love, a really hard thing happens: they hurt. They may feel a hole where you used to plug up their aloneness, their disorganization, or their financial irresponsibility. Whatever it is, they will feel a loss. If you love them, this will be difficult for you to watch. But, when you are dealing with someone who is hurting, remember that your boundaries are both necessary for you and helpful for them. If you have been enabling them to be irresponsible, your limit setting may nudge them toward responsibility.
Henry Cloud (Boundaries: When To Say Yes, How to Say No)
We teach our kids the importance of good dental care, proper nutrition, and financial responsibility. How many of us teach our children to monitor their own brain health, or know how to do it ourselves?
Sue Klebold (A Mother's Reckoning: Living in the Aftermath of Tragedy)
I believe in the supreme worth of the individual and in his right to life, liberty and the pursuit of happiness. I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty. I believe that the law was made for man and not man for the law; that government is the servant of the people and not their master. I believe in the dignity of labor, whether with head or hand; that the world owes no man a living but that it owes every man an opportunity to make a living. I believe that thrift is essential to well-ordered living and that economy is a prime requisite of a sound financial structure, whether in government, business or personal affairs. I believe that truth and justice are fundamental to an enduring social order. I believe in the sacredness of a promise, that a man's word should be as good as his bond, that character—not wealth or power or position—is of supreme worth. I believe that the rendering of useful service is the common duty of mankind and that only in the purifying fire of sacrifice is the dross of selfishness consumed and the greatness of the human soul set free. I believe in an all-wise and all-loving God, named by whatever name, and that the individual's highest fulfillment, greatest happiness and widest usefulness are to be found in living in harmony with His will. I believe that love is the greatest thing in the world; that it alone can overcome hate; that right can and will triumph over might.
John D. Rockefeller
Though I was having a blissful moment of being happy and content, I had one of those stray ideas you get at odd moments. I thought,How nice it would be if Eric were here with me in the car. He'd look so good with the wind blowing his hair, and he'd enjoy the moment . Well, yeah, before he burned to a crisp. But I realized I'd thought of Eric because it was the kind of day you wanted to share with the person you cared about, the person whose company you enjoyed the most. And that would be Eric as he'd been while he was cursed by a witch: the Eric who hadn't been hardened by centuries of vampire politics, the Eric who had no contempt for humans and their affairs, the Eric who was not in charge of many financial enterprises and responsible for the lives and incomes of quite a few humans and vampires. In other words, Eric as he would never be again.
Charlaine Harris (Definitely Dead (Sookie Stackhouse, #6))
This generation seems to see children as a financial burden and responsibility to be avoided.
Francine Rivers (The Atonement Child)
Any pattern of emotion or behavior that is continually reinforced will become an automatic and conditioned response. Anything we fail to reinforce will eventually dissipate.
Anthony Robbins (Awaken the Giant Within: How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!)
A strong definition of business success often incorporates elements from several frameworks. A balanced approach might combine financial health with a commitment to innovation and social responsibility. This ensures the company remains profitable while considering its long-term impact and ethical obligations.
Hendrith Vanlon Smith Jr. (Board Room Blitz: Mastering the Art of Corporate Governance)
Whenever we have excess, giving should be our natural response. It should be the automatic decision, the obvious thing to do in light of Scripture and human need.
Randy Alcorn (Money, Possessions, and Eternity: A Comprehensive Guide to What the Bible Says about Financial Stewardship, Generosity, Materialism, Retirement, Financial Planning, Gambling, Debt, and More)
We were enjoying one of those rare summers of utter freedom – no financial responsibility, no debts, no time owing to anybody.
Jojo Moyes (Me Before You (Me Before You, #1))
Facebook’s goal of showing people only what they were interested in seeing resulted, within a decade, in the effective end of shared civic reality. And this choice, combined with the company’s financial incentive to continually trigger heightened emotional responses in its users, ultimately solidified the current norm in news media consumption: today we mostly consume news that corresponds with our ideological alignment, which has been fine-tuned to make us feel self-righteous and also mad.
Jia Tolentino (Trick Mirror)
Honest accounting is a really important part of corporate responsibility. Let's just be honest and transparent with the numbers. No inflating, no exaggerating, no reconfiguring... Just pure numbers that tell the honest truth about the companies financial reality.
Hendrith Vanlon Smith Jr.
A Course in Miracles: all communication is either a loving response or a cry for help.
Anthony Robbins (Awaken the Giant Within: How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!)
I am saying that outside influences are not responsible for where you are mentally, physically, spiritually, emotionally, or financially. You have chosen the pathway to your present destination. The responsibility for your situation is yours.
Andy Andrews (The Traveler's Gift: Seven Decisions that Determine Personal Success)
Interestingly, adults are only shamed for having an obsessive interest if that interest is a bit too “strange,” and doesn’t come with the opportunity to rack up a lot of achievements or make a lot of money. People who routinely complete eighty-hour workweeks aren’t penalized for being obsessive or hyperfixated; they’re celebrated for their diligence. If an adult fills their evenings after work learning to code or creating jewelry that they sell on Etsy, they’re seen as enterprising. But if someone instead devotes their free time to something that gives them pleasure but doesn’t financially benefit anyone, it’s seen as frivolous or embarrassing, even selfish. In this instance, it’s clear that the punishing rules imposed on Autistic children reflect a much broader societal issue: pleasure and nonproductive, playful time are not valued, and when someone is passionate about the “wrong” things, that passion is discouraged because it presents a distraction from work and other “respectable” responsibilities.
Devon Price (Unmasking Autism: Discovering the New Faces of Neurodiversity)
You have not been yourself all day," said Henry, and rose from his seat with face unmoved. Margaret rushed at him and seized both his hands. She was transfigured. "Not any more of this!" she cried. "You shall see the connection if it kills you, Henry! You have had a mistress—I forgave you. My sister has a lover—you drive her from the house. Do you see the connection? Stupid, hypocritical, cruel—oh, contemptible!—a man who insults his wife when she's alive and cants with her memory when she's dead. A man who ruins a woman for his pleasure, and casts her off to ruin other men. And gives bad financial advice, and then says he is not responsible. These men are you. You can't recognise them, because you cannot connect. I've had enough of your unneeded kindness. I've spoilt you long enough. All your life you have been spoiled. Mrs. Wilcox spoiled you. No one has ever told what you are—muddled, criminally muddled. Men like you use repentance as a blind, so don't repent. Only say to yourself, 'What Helen has done, I've done.
E.M. Forster (Howards End)
Teach your children the power of independence and responsibility; it’s a priceless legacy of wealth.
Keisha Blair
In your dread of dictators you established a state of society in which every ward boss is a dictator, every financier a dictator, every private employer a dictator, all with the livelihood of the workers at their mercy, and no public responsibility. And to symbolize this state of things, this defeat of all government, you have set up in New York Harbour a monstrous idol which you call Liberty. The only thing that remains to complete this monument is to put on its pedestal the inscription written by Dante on the gate of Hell ‘All hope abandon, ye who enter here.
George Bernard Shaw (The Political Madhouse in America and Nearer Home)
[...] Cousin Jimmy gave me a whole dollar on the sly last week. I wish he had not given me so much. It worrys me. It is an awful responsibility. It will be so diffikult to spend it wisely also without Aunt Elizabeth finding out about it. I hope I shall never have a million dollars. I am sure it would crush me utterly.
L.M. Montgomery (Emily of New Moon (Emily, #1))
Basic stewardship of resources for married couples who are believers centers around understanding and practicing two fundamental financial principles: tithing and budgeting. Herein lie the seeds of dominion—the secrets of fruitfulness, increase, and filling. Tithing recognizes God as the source of our resources while budgeting recognizes our responsibility
Myles Munroe (The Purpose and Power of Love & Marriage)
Basic stewardship of resources for married couples who are believers centers around understanding and practicing two fundamental financial principles: tithing and budgeting. Herein lie the seeds of dominion—the secrets of fruitfulness, increase, and filling. Tithing recognizes God as the source of our resources while budgeting recognizes our responsibility to God to manage those resources wisely.
Myles Munroe (The Purpose and Power of Love & Marriage)
For better or worse, humans or our descendants will be responsible for life on Earth for the indefinite future. Despite the initially daunting technical challenges, the biggest obstacle to compassionate stewardship of the world's free-living nonhuman animal population is not technical or even financial but ideological.
David Pearce
Financial crashes happen precisely because the people who remember the last one have either died or retired and thus are no longer around, with memories and character formed by that previous experience, to warn people not to be irresponsible.
N.T. Wright (After You Believe: Why Christian Character Matters)
If you are financially broke or feel stuck, there's a part of you, something about you, or something in you that has worked so hard to get you here. Sadly, it's all you, in your vibration. The sooner we accept this truth, the sooner we take full responsibility and do all we can to free ourselves from the negative bondage.
Jacent Mary Mpalyenkana
We have made money our god and called it the good life. We have trained our children to go for jobs hat bring the quickest corporate advancements at the highest financial levels. We have taught them careerism but not ministry and wonder why ministers are going out of fashion. We fear coddling the poor with food stamps while we call tax breaks for the rich business incentives. We make human community the responsibility of government institutions while homelessness, hunger, and drugs seep from the centers of our cities like poison from open sores for which we do not seek either the cause or the cure. We have created a bare and sterile world of strangers where exploitation is a necessary virtue. We have reduced life to the lowest of values so that the people who have much will not face the prospect of having less. Underlying all of it, we have made women the litter bearers of a society where disadvantage clings to the bottom of the institutional ladder and men funnel to the top, where men are privileged and women are conscripted for the comfort of the human race. We define women as essential to the development of the home but unnecessary to the development of society. We make them poor and render them powerless and shuttle them from man to man. We sell their bodies and question the value of their souls. We call them unique and say they have special natures, which we then ignore in their specialness. We decide that what is true of men is true of women and then say that women are not as smart as men, as strong as men, or as capable as men. We render half the human race invisible and call it natural. We tolerate war and massacre, mayhem and holocaust to right the wrongs that men say need righting and then tell women to bear up and accept their fate in silence when the crime is against them. What’s worse, we have applauded it all—the militarism, the profiteering, and the sexisms—in the name of patriotism, capitalism, and even religion. We consider it a social problem, not a spiritual one. We think it has something to do with modern society and fail to imagine that it may be something wrong with the modern soul. We treat it as a state of mind rather than a state of heart. Clearly, there is something we are failing to see.
Joan D. Chittister (Heart of Flesh: Feminist Spirituality for Women and Men)
The European Parliament responded by focusing on corporate governance. If corporations wanted to be legal citizens they could damned well shoulder the responsibilities of good citizenship as well as the benefits. Social as well as financial audits were the order of the day. Directives outlining standards for corporate citizenship were drafted and a lucrative niche for a new generation of management consultants emerged - those who could look at an organization and sound a warning if its structure rewarded pathological behaviour.
Charles Stross (Rule 34 (Halting State, #2))
I've been able to classify most of their responses into ten emotional needs—admiration, affection, conversation, domestic support, family commitment, financial support, honesty and openness, physical attractiveness, recreational companionship, and sexual fulfillment.
Willard F. Harley Jr. (His Needs, Her Needs: Building an Affair-Proof Marriage)
Anything of worth is costly: devotion to Christ, a strong marriage, financial responsibility, a life of integrity, and of course, fearlessly feminine mothering.
Jani Ortlund (Fearlessly Feminine: Boldly Living God's Plan for Womanhood)
It is often difficult, I find, for people today to grasp the notion that one family, working through several restaurants could change the eating habit of an entire country. But such was the achievement of the Delmonicos in the United States of the last century. Before they opened their first small cafe on William Street in 1823, catering to the business and financial communities of Lower Manhattan, American food could generally be described as things boiled or fried whose purpose was to sustain hard work and hold down alcohol - usually bad alcohol. The Delmonicos, though Swiss, had brought the French method to America, and each generation of their family refined an expanded the experience ... The craving for first-rate dining became a kind of national fever in the latter decades of the century - and Delmonico's was responsible.
Caleb Carr (The Alienist (Dr. Laszlo Kreizler, #1))
Wealth and success are not waiting for most of us at the top of anyone else’s ladder. A richer life—financially, emotionally, intellectually—is possible only when you take responsibility for your own success.
Patrick Bet-David (Your Next Five Moves: Master the Art of Business Strategy)
He was the most contradictory of men. A champion of extending freedom and democracy to even the poorest of whites, Jackson was an unrepentant slaveholder. A sentimental man who rescued an Indian orphan on a battlefield to raise in his home, Jackson was responsible for the removal of Indian tribes from their ancestral lands. An enemy of Eastern financial elites and a relentless opponent of the Bank of the United States, which he believed to be a bastion of corruption, Jackson also promised to die, if necessary, to preserve the power and prestige of the central government. Like us and our America, Jackson and his America achieved great things while committing grievous sins.
Jon Meacham (American Lion: Andrew Jackson in the White House)
So imagine two scenarios. Let’s say it’s the holidays, and two different neighbors invite you to their parties in the same week. You accept both invitations. In one case, you do the irrational thing and give Neighbor X a bottle of Bordeaux; for the second party you adopt the rational approach and give Neighbor Z $50 in cash. The following week, you need some help moving a sofa. How comfortable would you be approaching each of your neighbors, and how do you think each would react to your request for a favor? The odds are that Neighbor X will step in to help. And Neighbor Z? Since you have already paid him once (to make and share dinner with you), his logical response to your request for help might be, “Fine. How much will you pay me this time?” Again, the prospect of acting rationally, financially speaking, sounds deeply irrational in terms of social norms. The point is that while gifts are financially inefficient, they are an important social lubricant. They help us make friends and create long-term relationships that can sustain us through the ups and downs of life. Sometimes, it turns out, a waste of money can be worth a lot.
Dan Ariely (Predictably Irrational: The Hidden Forces That Shape Our Decisions)
The worst thing about being an adult is the fact that we can do basically whatever we want. You can have Chicken McNuggets and champagne for dinner, but you know that the next day you'll feel like a whoopee cushion made of alcohol and sodium. Yeah, adulthood.
Chelsea Fagan (The Financial Diet)
Financial success isn’t about how much you make, but about what you do with what you make.” “I work too hard for my money to spend it on fruitless things.” “It’s our responsibility today to plan for tomorrow’s expenses.” “Most of America’s wealthy aren’t showing it off.
Carrie Rocha (Pocket Your Dollars: 5 Attitude Changes That Will Help You Pay Down Debt, Avoid Financial Stress, & Keep More of What You Make)
The responsible thing to do, the Head of the House thing to do, would be to send her on her way. This wasn’t our fight and there was no profit to be made here. We were an emerging House, and we had neither the financial resources nor the manpower of MII. If I helped her, I would be putting all of us in danger. But she was a friend. She’d kept us all from dying at Nevada’s wedding, and when I looked at her, my chest hurt.
Ilona Andrews (Sapphire Flames (Hidden Legacy, #4))
There are times, beloved, when God will place you in the middle of trials—a hospital stay, rejection, a financial blow. He lets you hurt as others hurt, knowing that the way you handle it will be a testimony, that your response will show others that there’s something awesomely different about you.
Kay Arthur (Search My Heart, O God: 365 Appointments with God)
Godwin was also of little practical assistance. He had calculated his living expenses down to the last penny, sometimes having to borrow a few pounds to make ends meet. He had never intended to assume the financial responsibility of a family, declaring that such obligations blighted the freedom of the male intellectual.
Charlotte Gordon (Romantic Outlaws: The Extraordinary Lives of Mary Wollstonecraft and Her Daughter Mary Shelley)
Narcissists are manipulative and masterful at twisting the situation and working the rules to get what they want. Even more frustrating, they will turn things around in such a way that you may ultimately give them what they want and exhaust yourself in the process. Early in a relationship, the manipulation is most often emotional (“I had a tough childhood, so sometimes I say things I do not mean” or “I am under a lot of stress, so I blew up—I didn’t really mean it”) and financial (masterfully getting you to take on disproportionately more financial responsibility, finding yourself spending money you do not have to keep your relationship going and your partner happy.
Ramani Durvasula (Should I Stay or Should I Go?: Surviving a Relationship with a Narcissist)
My kids, you, and I can have good things happen as a result of our Total Money Makeover only if we have the spiritual character to recognize that wealth is not the answer to life’s questions. We further must recognize that while wealth is very fun, it comes with great responsibility. Another paradox is that wealth will make you more of what you are. Let that one soak in for a minute. If you are a jerk and you become wealthy, you will be king of the jerks. If you are generous and you become wealthy, you will be most generous. If you are kind, wealth will allow you to show kindness in immeasurable ways. If you feel guilty, wealth will ensure that you feel guilty for the rest of your life.
Dave Ramsey (The Total Money Makeover: A Proven Plan for Financial Fitness)
Here are some of the truths about money that you can use to measure your own attitudes: 1. Everything we have comes from God (James 1:17). 2. Our most important possessions are heavenly ones, not earthly ones (Matt. 6:19–21). 3. We must be financially responsible. We should make sure we do not depend on others (outside the family) for our livelihood. “If a man will not work, he shall not eat” (2 Thess. 3:10). 4. We should be content no matter our circumstances. Paul says, “But if we have food and clothing, we will be content with that” (1 Tim. 6:8). 5. Our identity is based on what Christ did for us and not on anything else (Gal. 2:20). 6. We are to be generous and give to those in need (1 Tim. 6:18).
Sheila Wray Gregoire (To Love, Honor, and Vacuum: When You Feel More Like a Maid Than a Wife and Mother)
Lack of financial planning is the root of all empty wallets
Mac Duke The Strategist
Self-care is an attitude toward ourselves and our lives that says, I am responsible for myself. I am responsible for leading or not living my life. I am responsible for tending to my spiritual, emotional, physical, and financial well-being. I am responsible for identifying and meeting my needs. I am responsible for solving my problems or learning to live with those I cannot solve. I am responsible for my choices. I am responsible for what I give and receive. I am also responsible for setting and achieving my goals. I am responsible for how much I enjoy life, for how much pleasure I find in daily activities. I am responsible for whom I love and how I choose to express this love. I am responsible for what I do to others and for what I allow others to do to me. I am responsible for my wants and desires. All of me, every aspect of my being, is important. I count for something. I matter. My feelings can be trusted. My thinking is appropriate. I value my wants and needs. I do not deserve and will not tolerate abuse or constant mistreatment. I have rights, and it is my responsibility to assert these rights. The decisions I make and the way I conduct myself will reflect my high self-esteem. My decisions will take into account my responsibilities to myself.
Melody Beattie (Codependent No More: How to Stop Controlling Others and Start Caring for Yourself)
Society places enormous responsibility at the feet of mom without giving her the financial support, prestige, and acclaim due to a job of such momentous import for the entire culture.
Maureen Murdock (The Heroine's Journey: Woman's Quest for Wholeness)
Father Egan continues to write about everything from the injustice of current wars to the past and future of Catholic mysticism. In the Catholic Reporter, he publishes an article titled "Celibacy, a Vague Old Cross on Priestly Backs", and explains that it started "only in 1139 when the church no longer wanted to be financially responsible for the children of priests.
Gloria Steinem (My Life on the Road)
-Prayer In My Life- Every person has his own ideas of the act of praying for God's guidance, tolerance and mercy to fulfill his duties and responsibilities. My own concept of prayer is not a plea for special favors, nor as a quick palliation for wrongs knowingly committed. A prayer, it seems to me, implies a promise as well as a request; at the highest level, prayer not only is supplication for strength and guidance, but also becomes an affirmation of life and thus a reverent praise of God. Deeds rather than words express my concept of the part religion should play in everyday life. I have watched constantly that in our movie work the highest moral and spiritual standards are upheld, whether it deals with fable or with stories of living action. This religious concern for the form and content of our films goes back 40 years to the rugged financial period in Kansas City when I was struggling to establish a film company and produce animated fairy tales. Thus, whatever success I have had in bringing clean, informative entertainment to people of all ages, I attribute in great part to my Congregational upbringing and lifelong habit of prayer. To me, today at age 61, all prayer by the humble or highly placed has one thing in common: supplication for strength and inspiration to carry on the best impulses which should bind us together for a better world. Without such inspiration we would rapidly deteriorate and finally perish. But in our troubled times, the right of men to think and worship as their conscience dictates is being sorely pressed. We can retain these privileges only by being constantly on guard in fighting off any encroachment on these precepts. To retreat from any of the principles handed down by our forefathers, who shed their blood for the ideals we all embrace, would be a complete victory for those who would destroy liberty and justice for the individual.
Walt Disney Company
Part of what academics do is generate ideas and teach. The other, perhaps more important part, is to play the role of “the Bu*l*hit Police.” Our job is to look at the ideas and plans interested parties put forward to solve our collective problems and see whether or not they pass the sniff test. Austerity as a route to growth and as the correct response to the aftermath of a financial crisis does not pass the sniff test.
Mark Blyth (Austerity: The History of a Dangerous Idea)
Not surprisingly Wells places the City of London—the international center of banking culture—and its financial credit as responsible for knitting together world economic life over the previous hundred years. With these innovations in communications and finance, but also with the frustrations and wars inherent (so he says) in the existence of independent national states and sovereignties, came about the gradual dawning of the idea of the World-State.
Jim Keith (Mind Control, World Control: The Encyclopedia of Mind Control)
The Industrial Revolution started and made its biggest strides in England because of her uniquely inclusive economic institutions. These in turn were built on foundations laid by the inclusive political institutions brought about by the Glorious Revolution. It was the Glorious Revolution that strengthened and rationalized property rights, improved financial markets, undermined state-sanctioned monopolies in foreign trade, and removed the barriers to the expansion of industry. It was the Glorious Revolution that made the political system open and responsive to the economic needs and aspirations of society. These inclusive economic institutions gave men of talent and vision such as James Watt the opportunity and incentive to develop their skills and ideas and influence the system in ways that benefited them and the nation. Naturally these men, once they had become successful, had the same urges as any other person. They wanted to block others from entering their businesses and competing against them and feared the process of creative destruction that might put them out of business, as they had previously bankrupted others.
Daron Acemoğlu (Why Nations Fail: The Origins of Power, Prosperity, and Poverty)
Corporations do not automatically obey laws. They weigh the size of the penalty relative to the gain from law breaking. In the age of oligarchy, laws are window dressing when penalties aren’t high enough and the people responsible for the lawbreaking are not held accountable. Unless the government prosecutes individuals or at least claws back their pay, the law is not of particular concern to the inhabitants of C-suites. Eleven years after Wall Street’s near meltdown, not a single major financial executive had been convicted or even indicted for crimes that wiped out the savings of countless Americans. Contrast this with a teenager who is imprisoned for years for selling an ounce of marijuana.
Robert B. Reich (The System: Who Rigged It, How We Fix It)
Back in 2007, former Fed chair Alan Greenspan had been asked by the Zürich daily Tages-Anzeiger which candidate he was supporting in the upcoming presidential election. His response was striking. How he voted did not matter, Greenspan declared, because “(we) are fortunate that, thanks to globalization, policy decisions in the US have been largely replaced by global market forces. National security aside, it hardly makes any difference who will be the next president. The world is governed by market forces.
Adam Tooze (Crashed: How a Decade of Financial Crises Changed the World)
After we had pondered our responsibilities and financial liabilities, one day it dawned on me that I was a businessman and would probably be one for a long time. It was also clear that in order to survive at this game, we had to get serious. I also knew that I would never be happy playing by the normal rules of business; I wanted to distance myself as far as possible from those pasty-faced corpses in suits I saw in airline magazine ads. If I had to be a businessman, I was going to do it on my own terms. One
Yvon Chouinard (Let My People Go Surfing: The Education of a Reluctant Businessman)
women are not thinking about ‘having it all,’ they’re worried about losing it all—their jobs, their children’s health, their families’ financial stability—because of the regular conflicts that arise between being a good employee and a responsible parent.”34
Sheryl Sandberg (Lean In: Women, Work, and the Will to Lead)
Modern civilization seems to be incapable of producing people endowed with imagination, intelligence, and courage. In practically every country there is a decrease in the intellectual and moral caliber of those who carry the responsibility of public affairs. The financial, industrial, and commercial organizations have reached a gigantic size. They are influenced not only by the conditions of the country where they are established, but also by the state of the neighboring countries and of the entire world. In all nations, economic and social conditions undergo extremely rapid changes. Nearly everywhere the existing form of government is again under discussion. The great democracies find themselves face to face with formidable problems--problems concerning their very existence and demanding an immediate solution. And we realize that, despite the immense hopes which humanity has placed in modern civilization, such a civilization has failed in developing men of sufficient intelligence and audacity to guide it along the dangerous road on which it is stumbling. Human beings have not grown so rapidly as the institutions sprung from their brains. It is chiefly the intellectual and moral deficiencies of the political leaders, and their ignorance, which endanger modern nations.
Alexis Carrel (L'homme cet inconnu)
Saving democracy is not an overblown call to action—we are in trouble. The changing demography of America speaks to more than whether Democrats or Republicans control political decisions. Young people will be financially responsible for the largest population of elderly Americans in our history, but without the resources necessary to provide for them. The increased frequency of extreme climate events costs billions of dollars that will not be spent on education or infrastructure. The past fifty years of public policy toward communities of color have consequences. For decades, black and brown children have had higher dropout rates, higher incarceration rates, and lower earning power. This very same population continues to grow in size and political might, but America has largely abandoned our tradition of civic education to help guide their decisions. And international crises will demand American attention, but without a cogent and consensus-driven electorate, we will likely be paralyzed by inaction or stupid decision making. We
Stacey Abrams (Our Time Is Now: Power, Purpose, and the Fight for a Fair America)
Is it possible nevertheless that our consumer culture does make good on its promises, or could do so? Might these, if fulfilled, lead to a more satisfying life? When I put the question to renowned psychologist Tim Krasser, professor emeritus of psychology at Knox College, his response was unequivocal. "Research consistently shows," he told me, "that the more people value materialistic aspirations as goals, the lower their happiness and life satisfaction and the fewer pleasant emotions they experience day to day. Depression, anxiety, and substance abuse also tend to be higher among people who value the aims encouraged by consumer society." He points to four central principles of what he calls ACC — American corporate capitalism: it "fosters and encourages a set of values based on self-interest, a strong desire for financial success, high levels of consumption, and interpersonal styles based on competition." There is a seesaw oscillation, Tim found, between materialistic concerns on the one hand and prosocial values like empathy, generosity, and cooperation on the other: the more the former are elevated, the lower the latter descend. For example, when people strongly endorse money, image, and status as prime concerns, they are less likely to engage in ecologically beneficial activities and the emptier and more insecure they will experience themselves to be. They will have also lower-quality interpersonal relationships. In turn, the more insecure people feel, the more they focus on material things. As materialism promises satisfaction but, instead, yields hollow dissatisfaction, it creates more craving. This massive and self-perpetuating addictive spiral is one of the mechanisms by which consumer society preserves itself by exploiting the very insecurities it generates. Disconnection in all its guises — alienation, loneliness, loss of meaning, and dislocation — is becoming our culture's most plentiful product. No wonder we are more addicted, chronically ill, and mentally disordered than ever before, enfeebled as we are by such malnourishment of mind, body and soul.
Gabor Maté (The Myth of Normal: Trauma, Illness, and Healing in a Toxic Culture)
Toot showed me how to balance a checkbook and resist buying stuff I didn’t need. She was the reason why, even in my most revolutionary moments as a young man, I could admire a well-run business and read the financial pages, and why I felt compelled to disregard overly broad claims about the need to tear things up and remake society from whole cloth. She taught me the value of working hard and doing your best even when the work was unpleasant, and about fulfilling your responsibilities even when doing so was inconvenient. She taught me to marry passion with reason, to not get overly excited when life was going well, and to not get too down when it went badly. All this was instilled in me by an elderly, plainspoken white lady from Kansas. It was her perspective that often came to mind when I was campaigning, and her worldview that I sensed in many of the voters I encountered, whether in rural Iowa or in a Black neighborhood in Chicago, that same quiet pride in sacrifices made for children and grandchildren, the same lack of pretension, the same modesty of expectations.
Barack Obama (A Promised Land)
After the New Deal, economists began referring to America’s retirement-finance model as a “three-legged stool.” This sturdy tripod was composed of Social Security, private pensions, and combined investments and savings. In recent years, of course, two of those legs have been kicked out. Many Americans saw their assets destroyed by the Great Recession; even before the economic collapse, many had been saving less and less. And since the 1980s, employers have been replacing defined-benefit pensions that are funded by employers and guarantee a monthly sum in perpetuity with 401(k) plans, which often rely on employee contributions and can run dry before death. Marketed as instruments of financial liberation that would allow workers to make their own investment choices, 401(k)s were part of a larger cultural drift in America away from shared responsibilities toward a more precarious individualism. Translation: 401(k)s are vastly cheaper for companies than pension plans. “Over the last generation, we have witnessed a massive transfer of economic risk from broad structures of insurance, including those sponsored by the corporate sector as well as by government, onto the fragile balance sheets of American families,” Yale political scientist Jacob S. Hacker writes in his book The Great Risk Shift. The overarching message: “You are on your own.
Jessica Bruder (Nomadland: Surviving America in the Twenty-First Century)
When someone says to me, "I have been talking with this girl for a while. We're trying to figure out when to make it official, like, Facebook official. What's your advice?" I always ask in response, "Are you, as an individual, in an emotional, spiritual, and financial situation where you feel you could reasonable get married in the next six months?" Normally the guy answers, "No." I respond, "Then you do not need to be in a rush to try to lay some claim on this girl. You do not need to expedite attempting to name your relationship. Because what you are trying to do is get the security and comfort of locking her down, saying to the world, 'She is MY girlfriend.' But what does that mean? It means other guys can't have her. It means you have laid a certain claim on her. But under God, you have no rights over her! She can do whatever she wants!
Ben Stuart (Single, Dating, Engaged, Married: Navigating Life and Love in the Modern Age)
If your negligent neighbor falls asleep with a lit cigarette in his mouth, setting his house on fire, he’s irresponsible and guilty. But you don’t want him to perish in the blaze. Nor do you want his house setting the whole neighborhood on fire. So you call in the fire department, even though it will cost taxpayers money.
Alan S. Blinder (After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead)
By putting economic growth on equal footing with the preservation of human health, by promoting a need to possess and to consume that borders on the pathological, and by permitting industries to run roughshod over landscapes in order to create financial profit, the governments of industrialized nations have supported the changes that are primarily responsible for the befouled and poisonous environment that in many places has become our heritage. What resistance humanity is able to mount to the juggernaut that many call “the economy" is essentially an objection to the indifference towards human and nonhuman life that drives the juggernaut." Horizon
Barry Lopez
You are always self-employed. You are always the president of your own personal services corporation, no matter where you might be working at the moment. When you see yourself as self-employed, you develop the entrepreneur mentality. The mentality of the highly independent, self-responsible, self-starting individual. Instead of waiting for things to happen, you make things happen. You see yourself as the boss of your own life. You see yourself as completely in charge of your physical health, your financial well-being, your career, your relationships, your home, your car, and every element of your existence. This is the mindset of the truly excellent person.
Brian Tracy
In a single day, the Allies’ entire financial support network hovered on the brink of collapse. It had all been Wilson’s doing, the response to a note he had sent to the Federal Reserve shortly before the election. The president was determined not to let America’s financial entanglement with the Allies’ cause draw it further into support of their war effort.
Arthur Herman (1917: Lenin, Wilson, and the Birth of the New World Disorder)
But if they are serious, then my job is to be solely responsible for the running of all aspects of the resort and I’ll have to liaise with the head office and provide weekly reports. I’ve never had to “liaise” before. It sounds sexy and dangerous. Any job that tells me that I have to “liaise” with the big boys in the head office is a winner to me. I can picture myself all dolled up in a cocktail dress at a work “do” standing in a circle with the other “suits” speaking in hushed tones about graphs and pie charts and financial reports. If people ask us what we’re doing, I can say dismissively, “Oh don’t mind us, we’re just liaising…” Ahern, Cecelia (2005-02-01). Love, Rosie (pp. 173-174). Hachette Books. Kindle Edition.
Cecelia Ahern (Love, Rosie)
Matriculations, gender quotas, recruiting, financial aid, room-assignments, mealtimes, rankings, class v. drill schedules, prorector-hiring, accommodating changes in drill schedule consequent to a player's movement up or down a squad. It's all the sort of thing that's uninteresting unless you're the one responsible, in which case it's cholesterol-raisingly stressful and complex.
David Foster Wallace (Infinite Jest)
We find the same situation in the economy. On the one hand, the battered remnants of production and the real economy; on the other, the circulation of gigantic amounts of virtual capital. But the two are so disconnected that the misfortunes which beset that capital – stock market crashes and other financial debacles – do not bring about the collapse of real economies any more. It is the same in the political sphere: scandals, corruption and the general decline in standards have no decisive effects in a split society, where responsibility (the possibility that the two parties may respond to each other) is no longer part of the game. This paradoxical situation is in a sense beneficial: it protects civil society (what remains of it) from the vicissitudes of the political sphere, just as it protects the economy (what remains of it) from the random fluctuations of the Stock Exchange and international finance. The immunity of the one creates a reciprocal immunity in the other – a mirror indifference. Better: real society is losing interest in the political class, while nonetheless availing itself of the spectacle. At last, then, the media have some use, and the ‘society of the spectacle’ assumes its full meaning in this fierce irony: the masses availing themselves of the spectacle of the dysfunctionings of representation through the random twists in the story of the political class’s corruption. All that remains now to the politicians is the obligation to sacrifice themselves to provide the requisite spectacle for the entertainment of the people.
Jean Baudrillard (Screened Out)
The mighty Toyota Company was born from the ashes of a failed weaving business. And perhaps you have heard of Wrigley’s gum? William Wrigley started off his company trying to sell baking soda and soap, but he never turned a profit, and so he turned to making and selling chewing gum instead. These men share one thing in common—they were open to change and they listened to their intuition. Sometimes we hear a whisper in the air that guides us positively. This whisper we hear, it is not passive—it is a response to our own enthusiasm, passion, and commitment. We put in the effort and we get back a divine message. Call it inspiration if you want. Call it an entrepreneurial muse. But it feels and sounds like a whisper in your soul. If you hear it, listen to it. You must be willing to change course when it tells you to.
Daniel Lapin (Business Secrets from the Bible: Spiritual Success Strategies for Financial Abundance)
Having privilege means that you have worked hard, but in a world more likely to enable, recognize, and financially reward hard work; that you have suffered, but in a world with fewer forms of suffering, with more mechanisms to prevent it, and stronger remedies when it occurs; that you are not responsible for the atrocities committed by your people in the past, but insofar as you do nothing today, you are complicit in the present created by them.
Jonathan R. Miller
With the growth of market individualism comes a corollary desire to look for collective, democratic responses when major dislocations of financial collapse, unemployment, heightened inequality, runaway inflation, and the like occur. The more such dislocations occur, the more powerful and internalized, Hayek insists, neoliberal ideology must become; it must become embedded in the media, in economic talking heads, in law and the jurisprudence of the courts, in government policy, and in the souls of participants. Neoliberal ideology must become a machine or engine that infuses economic life as well as a camera that provides a snapshot of it. That means, in turn, that the impersonal processes of regulation work best if courts, churches, schools, the media, music, localities, electoral politics, legislatures, monetary authorities, and corporate organizations internalize and publicize these norms.
William E. Connolly (The Fragility of Things: Self-Organizing Processes, Neoliberal Fantasies, and Democratic Activism)
Nearly all (95 percent) of the millionaires we surveyed own stocks; most have 20 percent or more of their wealth in publicly traded stocks. Yet you would be wrong to assume that these millionaires actively trade their stocks. Most don’t follow the ups and downs of the market day by day. Most don’t call their stock brokers each morning to ask how the London market did. Most don’t trade stocks in response to daily headlines in the financial media. Do
Thomas J. Stanley (The Millionaire Next Door: The Surprising Secrets of America's Wealthy)
Our internal boundaries define and contain the unique personal characteristics of our thoughts, feelings, opinions, behaviors, beliefs, and spirituality. Boundaries help us recognize, honor, and respect our individual wants, needs, and desires. They help us define our separateness and give us safety in our intimate communications with others. If someone verbally attacks us, we maintain our internal boundary and practice self-containment by moderately expressing our thoughts and feelings about their behavior using “I” statements. Or, we may choose not to respond and silently remind ourselves that how another person acts is about that person, not about us. If someone confronts us about our behavior, we use our internal boundary to listen to what they say. We do not internalize what is said before deciding if any of it rings true for us. If we have wronged the other person, we make amends. In either situation our self-worth is not diminished because we have maintained our internal boundaries. 110:2 We use internal boundaries in various ways. An example is deciding how much personal information, such as personal history or financial information, to share with others. Conversely, we refrain from delving into others’ personal business. We might really want to ask a question or say something to someone, yet we do not because we know that person’s private life is none of our business. 111:1 When we have healthy internal boundary systems, we recognize that each individual is responsible for his or her emotional, mental, and spiritual boundaries. We allow ourselves and others to have their own thoughts, feelings, opinions, behaviors, beliefs, and spirituality. With functional boundaries we are able to meet our needs without infringing on others’ abilities to meet their needs. Our internal boundaries can be flexible and we decide what is safe and comfortable for ourselves.
CoDA (CO-DEPENDENTS ANONYMOUS)
Robert Lehman—who often told his partners, “I bet on people”—made Lehman the driving financial force behind RCA and the birth of television, TWA, Pan Am, Hertz, several Hollywood studios, and various department store and oil and rubber giants. Lehman Brothers was at the epicenter of those business forces that have shaped not just the American economy but the American culture as well. By 1967 the House of Lehman was responsible for $3.5 billion in underwriting. In volume, Lehman was among the top four investment banks.
Ken Auletta (Greed and Glory on Wall Street: The Fall of the House of Lehman)
It is one of the great ironies of Mormon history that Smith, who set the polygamous movement in motion, never experienced it in practical terms. He was content to marry the teenage women who lived in his home and then let them depart when Emma objected. And he was content to let his polyandrous wives live with their first husbands, so he never bore the responsibility of providing for them, financially or emotionally, on a day-to-day basis. He never witnessed the toll practical polygamy would take on an Eliza Partridge...
Todd M. Compton (In Sacred Loneliness: The Plural Wives of Joseph Smith)
How remote we were too from the crazy musicians who arrived on a blustery fall day with the idea that, since this was a financial center, there would be a rain of coins from the tall buildings in response to their trumpet, guitar, and bass fiddle. The wind swirled their jazz among the canyons. I saw that no one was paying them the slightest attention. Feeling guilty, I threw them a quarter, but they didn't see it. They danced and made jazz in the cold, while upstairs we went on with our work, and they didn't exist, and it was nobody's fault.
Alan Harrington
Forcing new loans upon the bankrupt on condition that they shrink their income is nothing short of cruel and unusual punishment. Greece was never bailed out. With their ‘rescue’ loan and their troika of bailiffs enthusiastically slashing incomes, the EU and IMF effectively condemned Greece to a modern version of the Dickensian debtors’ prison and then threw away the key. Debtors’ prisons were ultimately abandoned because, despite their cruelty, they neither deterred the accumulation of new bad debts nor helped creditors get their money back. For capitalism to advance in the nineteenth century, the absurd notion that all debts are sacred had to be ditched and replaced with the notion of limited liability. After all, if all debts are guaranteed, why should lenders lend responsibly? And why should some debts carry a higher interest rate than other debts, reflecting the higher risk of going bad? Bankruptcy and debt write-downs became for capitalism what hell had always been for Christian dogma – unpleasant yet essential – but curiously bankruptcy-denial was revived in the twenty-first century to deal with the Greek state’s insolvency. Why? Did the EU and the IMF not realize what they were doing? They knew exactly what they were doing. Despite their meticulous propaganda, in which they insisted that they were trying to save Greece, to grant the Greek people a second chance, to help reform Greece’s chronically crooked state and so on, the world’s most powerful institutions and governments were under no illusions. […] Banks restructure the debt of stressed corporations every day, not out of philanthropy but out of enlightened self-interest. But the problem was that, now that we had accepted the EU–IMF bailout, we were no longer dealing with banks but with politicians who had lied to their parliaments to convince them to relieve the banks of Greece’s debt and take it on themselves. A debt restructuring would require them to go back to their parliaments and confess their earlier sin, something they would never do voluntarily, fearful of the repercussions. The only alternative was to continue the pretence by giving the Greek government another wad of money with which to pretend to meet its debt repayments to the EU and the IMF: a second bailout.
Yanis Varoufakis (Adults in the Room: My Battle with Europe's Deep Establishment)
the first century of the US Federal Reserve’s existence has been a failure. Not only has there been incontinent inflation since 1913, the year the Fed came into existence (8 per cent in the preceding 120 years, 2,300 per cent in the succeeding hundred years), but there has been devastating deflation too, and more banking panics, more financial volatility, longer and deeper recessions. Even the Fed’s response to the crisis of 2008 has come under severe criticism, as it effectively bailed out bad assets while doing little to help solvent institutions with needed liquidity
Matt Ridley (The Evolution of Everything: How New Ideas Emerge)
If you are a North American Christian, the reality of our society’s vast wealth presents you with an enormous responsibility, for throughout the Scriptures God’s people are commanded to show compassion to the poor. In fact, doing so is simply part of our job description as followers of Jesus Christ (Matt. 25:31–46). While the biblical call to care for the poor transcends time and place, passages such as 1 John 3:17 should weigh particularly heavy on the minds and hearts of North American Christians: “If anyone has material possessions and sees his brother in need but has no pity on him, how can the love of God be in him?” Of course, there is no “one-size-fits-all” recipe for how each Christian should respond to this biblical mandate. Some are called to pursue poverty alleviation as a career, while others are called to do so as volunteers. Some are called to engage in hands-on, relational ministry, while others are better suited to support frontline workers through financial donations, prayer, and other types of support. Each Christian has a unique set of gifts, callings, and responsibilities that influence the scope and manner in which to fulfill the biblical mandate to help the poor.
Steve Corbett (When Helping Hurts: How to Alleviate Poverty Without Hurting the Poor . . . and Yourself)
The intelligent want self-control; children want candy. —RUMI INTRODUCTION Welcome to Willpower 101 Whenever I mention that I teach a course on willpower, the nearly universal response is, “Oh, that’s what I need.” Now more than ever, people realize that willpower—the ability to control their attention, emotions, and desires—influences their physical health, financial security, relationships, and professional success. We all know this. We know we’re supposed to be in control of every aspect of our lives, from what we eat to what we do, say, and buy. And yet, most people feel like willpower failures—in control one moment but overwhelmed and out of control the next. According to the American Psychological Association, Americans name lack of willpower as the number-one reason they struggle to meet their goals. Many feel guilty about letting themselves and others down. Others feel at the mercy of their thoughts, emotions, and cravings, their lives dictated by impulses rather than conscious choices. Even the best-controlled feel a kind of exhaustion at keeping it all together and wonder if life is supposed to be such a struggle. As a health psychologist and educator for the Stanford School of Medicine’s Health Improvement Program, my job is to help people manage stress and make healthy choices. After years of watching people struggle to change their thoughts, emotions, bodies, and habits, I realized that much of what people believed about willpower was sabotaging their success and creating unnecessary stress. Although scientific research had much to say that could help them, it was clear that these insights had not yet become part of public understanding. Instead, people continued to rely on worn-out strategies for self-control. I saw again and again that the strategies most people use weren’t just ineffective—they actually backfired, leading to self-sabotage and losing control. This led me to create “The Science of Willpower,” a class offered to the public through Stanford University’s Continuing Studies program. The course brings together the newest insights about self-control from psychology, economics, neuroscience, and medicine to explain how we can break old habits and create healthy habits, conquer procrastination, find our focus, and manage stress. It illuminates why we give in to temptation and how we can find the strength to resist. It demonstrates the importance of understanding the limits of self-control,
Kelly McGonigal (The Willpower Instinct: How Self-Control Works, Why It Matters, and What You Can Do To Get More of It)
Bankers are seeking to capture government and make financial policy immune from democratic choice. What promised to be a progressive social democratic Europe half a century ago is turning into a power grab by financial predators. The EU has confronted Greece, Cyprus and other indebted economies with an option of suffering debt deflation or leaving the eurozone. Since Greece’s Syriza coalition took the electoral lead in opposing the financial and fiscal austerity, the creditor response has been to dare Greece to withdraw – and to suffer a transitional financial chaos if it tries to save itself from being crushed by unemployment, bankruptcy and emigration.
Michael Hudson (Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy)
A Sidewalker’s financial destination doesn’t exist. The plan is to have no plan. Surplus money is immediately spent on the next great gadget, the next trip, the next newer car, the next fashionable style, or the next hot fad. The Sidewalk’s siren song is instant gratification which can come from many addictive sources: junk food, shopping, video games, television, and smartphones. Money is disrespected like a hot potato that’s quickly exchanged for the latest fix of the week. Responsibility and accountability? Weak, or worse, absent. Moreover, “feelings” and quick dopamine hits are prioritized over logic and critical thinking, two skills needed for an extraordinary life.
M.J. DeMarco (The Millionaire Fastlane)
In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance, or malversation (the corruption of officials) engendered during the mania. It seems clear from the historical record that swindles are a response to the greedy appetite for wealth stimulated by the boom. And as the monetary system gets stretched, institutions lose liquidity, and unsuccessful swindles are about to be revealed, the temptation to take the money and run becomes virtually irresistible. It is difficult to write on this subject without permitting the typewriter to drip with irony. An attempt will be made.
Charles P. Kindleberger (Manias, Panics, and Crashes: A History of Financial Crises)
For years, the suspicion that Mr. Putin has a secret fortune has intrigued scholars, industry analysts, opposition figures, journalists and intelligence agencies but defied their efforts to uncover it. Numbers are thrown around suggesting that Mr. Putin may control $40 billion or even $70 billion, in theory making him the richest head of state in world history. For all the rumors and speculation, though, there has been little if any hard evidence, and Gunvor has adamantly denied any financial ties to Mr. Putin and repeated that denial on Friday. But Mr. Obama’s response to the Ukraine crisis, while derided by critics as slow and weak, has reinvigorated a 15-year global hunt for Mr. Putin’s hidden wealth. Now, as the Obama administration prepares to announce another round of sanctions as early as Monday targeting Russians it considers part of Mr. Putin’s financial circle, it is sending a not-very-subtle message that it thinks it knows where the Russian leader has his money, and that he could ultimately be targeted directly or indirectly. “It’s something that could be done that would send a very clear signal of taking the gloves off and not just dance around it,” said Juan C. Zarate, a White House counterterrorism adviser to President George W. Bush who helped pioneer the government’s modern financial campaign techniques to choke off terrorist money.
Peter Baker
The new financier, the new plutocrat, had little of that sense of responsibility which once had sanctioned the power of England’s landed classes. He was a purely international figure, or so it seemed, and money was his language … Where did the money come from? Nobody seemed to care. It was there to be spent, and to be spent in the most ostentatious manner possible; for its new masters set the fashion … Society in the last pre-war years grew wildly plutocratic; the middle classes became more complacent and dependent; only the workers seemed to be deprived of their share in prosperity … The middle classes … looked upon the producers of England with a jaundiced, a fearful and vindictive gaze.
Max Hastings (Catastrophe 1914: Europe Goes to War)
The experience of stress has three components. The first is the event, physical or emotional, that the organism interprets as threatening. This is the stress stimulus, also called the stressor. The second element is the processing system that experiences and interprets the meaning of the stressor. In the case of human beings, this processing system is the nervous system, in particular the brain. The final constituent is the stress response, which consists of the various physiological and behavioural adjustments made as a reaction to a perceived threat. We see immediately that the definition of a stressor depends on the processing system that assigns meaning to it. The shock of an earthquake is a direct threat to many organisms, though not to a bacterium. The loss of a job is more acutely stressful to a salaried employee whose family lives month to month than to an executive who receives a golden handshake. Equally important is the personality and current psychological state of the individual on whom the stressor is acting. The executive whose financial security is assured when he is terminated may still experience severe stress if his self-esteem and sense of purpose were completely bound up with his position in the company, compared with a colleague who finds greater value in family, social interests or spiritual pursuits. The loss of employment will be perceived as a major threat by the one, while the other may see it as an opportunity. There is no uniform and universal relationship between a stressor and the stress response. Each stress event is singular and is experienced in the present, but it also has its resonance from the past. The intensity of the stress experience and its long-term consequences depend on many factors unique to each individual. What defines stress for each of us is a matter of personal disposition and, even more, of personal history. Selye discovered that the biology of stress predominantly affected three types of tissues or organs in the body: in the hormonal system, visible changes occurred in the adrenal glands; in the immune system, stress affected the spleen, the thymus and the lymph glands; and the intestinal lining of the digestive system. Rats autopsied after stress had enlarged adrenals, shrunken lymph organs and ulcerated intestines.
Gabor Maté (When the Body Says No: The Cost of Hidden Stress)
Evolution can even explain how our behaviors interact. Remember how the amygdala can suppress higher brain functions—for example, in the expression “His mind was clouded by fear.” This is manifestly irrational behavior, but it makes perfect sense from an evolutionary standpoint. Strong emotions like fear are an immediate call-to-arms to survive, selected by evolution over millions of generations of life in hostile environments. Our more recently evolved cognitive functions, such as language and logical reasoning, are suppressed until the perceived threat to our survival is over, that is, until our emotional reaction subsides. The universality of this fear response means that fear has been so useful in past environments that it has evolved to override all other neural components under sufficient threat.
Andrew W. Lo (Adaptive Markets: Financial Evolution at the Speed of Thought)
If government had declined to build racially separate public housing in cities where segregation hadn’t previously taken root, and instead had scattered integrated developments throughout the community, those cities might have developed in a less racially toxic fashion, with fewer desperate ghettos and more diverse suburbs. If the federal government had not urged suburbs to adopt exclusionary zoning laws, white flight would have been minimized because there would have been fewer racially exclusive suburbs to which frightened homeowners could flee. If the government had told developers that they could have FHA guarantees only if the homes they built were open to all, integrated working-class suburbs would likely have matured with both African Americans and whites sharing the benefits. If state courts had not blessed private discrimination by ordering the eviction of African American homeowners in neighborhoods where association rules and restrictive covenants barred their residence, middle-class African Americans would have been able gradually to integrate previously white communities as they developed the financial means to do so. If churches, universities, and hospitals had faced loss of tax-exempt status for their promotion of restrictive covenants, they most likely would have refrained from such activity. If police had arrested, rather than encouraged, leaders of mob violence when African Americans moved into previously white neighborhoods, racial transitions would have been smoother. If state real estate commissions had denied licenses to brokers who claimed an “ethical” obligation to impose segregation, those brokers might have guided the evolution of interracial neighborhoods. If school boards had not placed schools and drawn attendance boundaries to ensure the separation of black and white pupils, families might not have had to relocate to have access to education for their children. If federal and state highway planners had not used urban interstates to demolish African American neighborhoods and force their residents deeper into urban ghettos, black impoverishment would have lessened, and some displaced families might have accumulated the resources to improve their housing and its location. If government had given African Americans the same labor-market rights that other citizens enjoyed, African American working-class families would not have been trapped in lower-income minority communities, from lack of funds to live elsewhere. If the federal government had not exploited the racial boundaries it had created in metropolitan areas, by spending billions on tax breaks for single-family suburban homeowners, while failing to spend adequate funds on transportation networks that could bring African Americans to job opportunities, the inequality on which segregation feeds would have diminished. If federal programs were not, even to this day, reinforcing racial isolation by disproportionately directing low-income African Americans who receive housing assistance into the segregated neighborhoods that government had previously established, we might see many more inclusive communities. Undoing the effects of de jure segregation will be incomparably difficult. To make a start, we will first have to contemplate what we have collectively done and, on behalf of our government, accept responsibility.
Richard Rothstein (The Color of Law: A Forgotten History of How Our Government Segregated America)
Anti-government rhetoric appears to offer a vision of greater efficiency, self-reliance, and personal freedom. (For obvious reasons, it also usually enjoys greater financial backing and better organized support.) Unfortunately, this rhetoric ignores what has historically been most valuable about our skepticism toward government—the emphasis it places on personal responsibility from all citizens. Instead, it argues against the excesses of government but not against those of the marketplace, where there is great power to disrupt the lives of workers, families, and communities. It even argues against the basic protections government extends to the well-being of individuals, families, and communities, without offering an alternative way of safeguarding them. In fact, its extreme case against government, often including intense personal attacks on government officials and political leaders, is designed not just to restrain government but to advance narrow religious, political, and economic agendas.
Hillary Rodham Clinton (It Takes a Village: And Other Lessons Children Teach Us)
Welfare was taking away the very thing that people needed most—the initiative to provide for themselves. At the same time it was undermining the family: Teenagers from the inner cities, who for various reasons decided they didn’t want to live at home anymore, discovered that by getting pregnant—they didn’t even have to wait for their baby to be born—they got a welfare check that allowed them to rent their own apartment, and they discovered they could increase their monthly welfare check any time they chose simply by getting pregnant again. Meanwhile, the father of the child might have a good job and want to live with his family. But he was told his family was better off financially if he walked out on them; if he stayed, they wouldn’t get a welfare check. Not only was the welfare program a tax-financed incentive for immorality that was destroying the family, it was responsible for an endless and malignant cycle of despair in which generation after generation went on the dole and never had any incentive to leave it.
Ronald Reagan (An American Life: The Autobiography)
Since the 1970s, the battlefields on which the contradictions of democratic capitalism are fought out have become ever more complex, making it exceedingly difficult for anyone outside the political and financial elites to recognize the underlying interests and identify their own. While this may generate apathy on the mass level and thereby make life easier for the elites, there is no relying on it, in a world in which blind compliance with financial investors is propounded as the only rational and responsible behavior. To those who refuse to be talked out of other social rationalities and responsibilities, such a world may appear simply absurd - at which the only rational and responsible conduct to throw as many as wrenches as into the works of haute finance. Where democracy as we know it is effectively suspended, as it already is in countries like Greece, Ireland, and Portugal, street riots and popular insurrection may be the last remaining mode of political expression for those devoid of market power. Should we hope in the name of democracy that we will soon have the opportunity to observe a few more examples?
Wolfgang Streeck (How Will Capitalism End? Essays on a Failing System)
The subprime market tapped a segment of the American public that did not typically have anything to do with Wall Street: the tranche between the fifth and the twenty-ninth percentile in their credit ratings. That is, the lenders were making loans to people who were less creditworthy than 71 percent of the population. Which of these poor Americans were likely to jump which way with their finances? How much did their home prices need to fall for their loans to blow up? Which mortgage originators were the most corrupt? Which Wall Street firms were creating the most dishonest mortgage bonds? What kind of people, in which parts of the country, exhibited the highest degree of financial irresponsibility? The default rate in Georgia was five times higher than that in Florida, even though the two states had the same unemployment rate. Why? Indiana had a 25 percent default rate; California, only 5 percent, even though Californians were, on the face of it, far less fiscally responsible. Why? Vinny and Danny flew down to Miami, where they wandered around empty neighborhoods built with subprime loans, and saw with their own eyes how bad things were. “They’d
Michael Lewis (The Big Short)
Strangely, “Horror in the Nursery” never mentioned that the location of Wertham’s research site was Harlem. The first sentence of the piece set the scene: “In the basement of St. Philip’s Episcopal Church parish house in uptown New York … ,” evoking associations with WASPy Anglicanism without a hint of how far uptown the Lafargue Clinic was. The text never mentioned Negro culture or, for that matter, race or ethnicity in any context; and all the children in the photographs, which were staged, were white. Wertham, interviewed for the article prior to the Supreme Court ruling on Winters v. New York, anticipated objections to his criticism of comics on First Amendment grounds. Still, he called for legislative action. “The publishers will raise a howl about freedom of speech and of the press,” he told Crist: Nonsense. We are dealing with the mental health of a generation—the care of which we have left too long in the hands of unscrupulous persons whose only interest is greed and financial gain … If those responsible refuse to clean up the comic-book market—and to all appearances most of them do, the time has come to legislate these books off the newsstands and out of the candy stores.
David Hajdu (The Ten-Cent Plague: The Great Comic-Book Scare and How it Changed America)
Reducing your anxiety to zero isn’t possible or useful. Anxiety itself isn’t the problem. The problem occurs when anxiety gets to the point that it’s paralyzing, and you become stuck. I think of these bottlenecks as anxiety traps. We’re going to work on managing your responses to five anxiety traps: excessively hesitating before taking action, ruminating and worrying, paralyzing perfectionism, fear of feedback and criticism, and avoidance (including procrastination). The reason I’ve chosen to focus on these particular five traps is that I’ve found them to be the common threads that affect virtually all of the anxious clients I’ve worked with. The traps are self-perpetuating because they generate additional stress. For example, someone hesitates so much that she misses important opportunities, and this leads to being financially worse off. Or someone avoids feedback and then isn’t alerted to real problems that could have been rectified earlier. When people are caught in any of the five anxiety traps, they often fail to see the big picture and don’t problem-solve in effective ways. Learning how to navigate these bottlenecks will allow you to manage your anxious tendencies so that you can pursue your goals in life, whatever those goals may be.
Alice Boyes (The Anxiety Toolkit: Strategies for Fine-Tuning Your Mind and Moving Past Your Stuck Points)
I think that's quite true. and in fact the people who understand this the best are those who are carrying out the control and domination in the more free societies. like the U.S. and England, where popular struggles have have won a lot of freedoms over the years and the state has limited capacity to coerce. It is very striking that it's precisely in those societies that elite groups—the business world, state managers and so on—recognized early on that they are going to have to develop massive methods of control of attitude and opinion, because you cannot control people by force anymore and therefore you have to modify their consciousness so that they don't perceive that they are living under conditions of alienation, oppression, subordination and so on. In fact, that's what probably a couple trillion dollars are spent on each year in the U.S., very self-consciously, from the framing of television advertisements for two-year olds to what you are taught in graduate school economics programs. It's designed to create a consciousness of subordination and it's also intended specifically and pretty consciously to suppress normal human emotions. Normal human emotions are sympathy and solidarity, not just for people but for stranded dolphins. It's just a normal reaction for people. If you go back to the classical political economists, people like Adam Smith, this was just taken for granted as the core of human nature and society. One of the main concentrations of advertising and education is to drive that out of your mind. And it's very conscious. In fact, it's conscious in social policy right in front of our eyes today. Take the effort to destroy Social Security. Well, what's the point of that? There's a lot of scam about financial problems, which is all total nonsense. And, of course, they want Wall Street to make a killing. Underlying it all is something much deeper. Social Security is based on a human emotion and it's a natural human emotion which has to be driven out of people minds, namely the emotion that you care about other people. You care. It's a social and community responsibility to care whether a disabled widow across town has enough food to eat, or whether a kid across the street can go to school. You have to get that out of people's heads. You have to make them say, "Look, you are a personal, rational wealth maximizer. If that disabled widow didn't prepare for her own future, it's her problem not your problem. It's not your fault she doesn't have enough to eat so why should you care?
Noam Chomsky (Chomsky On Anarchism)
Just as the drivers in Gatsby and Bonfire responsible for crashes left others to bear the blame, so the One Percent seeks to shift responsibility onto the financial victims (“the madness of crowds”). Governments are blamed for running deficits, despite the fact that they result mainly from tax favoritism to the rentiers. Having used FICA paycheck withholding as a ploy to cut progressive tax rates on themselves since the 1980s, the One Percent blame the indebted population for living longer and creating a “retirement problem” by collecting the Social Security and pensions. This is financial warfare – and not all wars end with the victory of the most progressive parties. The end of history is not necessarily utopia. The financial mode of conquest against labor and industry is as devastating today as in the Roman Republic’s Social War that marked its transition to Empire in the 1st century BC. It was the dynamics of debt above all that turned the empire into a wasteland, reducing the population to debt bondage and outright slavery. Livy, Plutarch and other Roman historians placed the blame for their epoch’s collapse on creditors. Tacitus reports the words of the Celtic chieftain Calgacus, c. 83 AD, rousing his troops by describing the empire they were to fight against: Robbers of the world, having by their universal plunder exhausted the land … If the enemy is rich, they are rapacious; if he is poor, they lust for dominion; neither the east nor the west has been able to satisfy them. … To robbery, slaughter, plunder, they give the lying name of empire. They make a wasteland and call it peace. The
Michael Hudson (Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy)
The United States over the last thirty years has seen a growing gap - indeed, a deepening gulf - between rich and poor. The gap is significantly greater than in any other developed nation. Moreover, the growing gulf between rich and poor is the result of social and economic policy, not because some classes of people worked harder and others slacked off over the last thirty years (all of us, according to most studies, are working harder). The differences among countries generate the same conclusion: social policy, not simply individual effort, is responsible for the distribution of wealth. Our recent social policy may not have been intended to produce this result, but it has. The consequence is increased suffering and desperation among the poor and potentially grave consequences for the society as a whole. Moreover, many people in the middle, who are most often struggling financially, support the individualistic ideology underlying our social policy - namely, the notions that we each have worked hard for what we have and ought to be able to keep all of it, that government is bad (or at least inefficient and wasteful - and hungry for our tax dollars), and that things will be better for all of us if we let the wealthiest people in our country make and keep as much money as possible. Many of us seem not to realize that the people who benefit the most from our politics and economics of individualism are the wealthiest 10 percent, especially the top 1 percent. People will support a tax cut that saves them $300 a year, without considering that the same tax cut will save the very wealthy tens of thousands or even hundreds of thousands a year, with significant damage to the social fabric, including not only decreased help for the poor and disadvantaged but also cuts in services such as public schools, road repairs, parks, libraries, and so forth.
Marcus J. Borg (The God We Never Knew: Beyond Dogmatic Religion to a More Authentic Contemporary Faith)
Naval’s Laws The below is Naval’s response to the question “Are there any quotes you live by or think of often?” These are gold. Take the time necessary to digest them. “These aren’t all quotes from others. Many are maxims that I’ve carved for myself.” Be present above all else. Desire is suffering (Buddha). Anger is a hot coal that you hold in your hand while waiting to throw it at someone else (Buddhist saying). If you can’t see yourself working with someone for life, don’t work with them for a day. Reading (learning) is the ultimate meta-skill and can be traded for anything else. All the real benefits in life come from compound interest. Earn with your mind, not your time. 99% of all effort is wasted. Total honesty at all times. It’s almost always possible to be honest and positive. Praise specifically, criticize generally (Warren Buffett). Truth is that which has predictive power. Watch every thought. (Always ask, “Why am I having this thought?”) All greatness comes from suffering. Love is given, not received. Enlightenment is the space between your thoughts (Eckhart Tolle). Mathematics is the language of nature. Every moment has to be complete in and of itself. A Few of Naval’s Tweets that are Too Good to Leave Out “What you choose to work on, and who you choose to work with, are far more important than how hard you work.” “Free education is abundant, all over the Internet. It’s the desire to learn that’s scarce.” “If you eat, invest, and think according to what the ‘news’ advocates, you’ll end up nutritionally, financially, and morally bankrupt.” “We waste our time with short-term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades.” “The guns aren’t new. The violence isn’t new. The connected cameras are new, and that changes everything.” “You get paid for being right first, and to be first, you can’t wait for consensus.” “My one repeated learning in life: ‘There are no adults.’ Everyone’s making it up as they go along. Figure it out yourself, and do it.” “A busy mind accelerates the passage of subjective time.
Timothy Ferriss (Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers)
During the Russia-NATO Council session in Bucharest in April 2008, Putin called Ukraine “a complex state formation. If the NATO issue is added there,” he said, “along with other problems, this may bring Ukraine to the verge of existence as a sovereign state.” Later during the same summit, in a discussion with U.S. President George Bush, Putin said that Ukraine was “not a real country.” This is clearly light-years away from the “common principles” laid down in the Founding Act, signed by Russia and the members of NATO in 1997, in which Russia had recognized the inherent right of all countries “to choose the means to ensure their own security.” Putin’s declaration was a scarcely veiled threat that Russia would intervene if Ukraine decided to join NATO. Doubts on Ukraine’s viability as a sovereign state were expressed on many occasions by leading Russians. On March 16, 2009, the Kremlin ideologue Gleb Pavlovsky wrote in the Russkiy Zhurnal, a Russian online magazine of which he is the owner, an article titled: “Will Ukraine Lose Its Sovereignty?” This article was followed four days later by an interview with Sergey Karaganov, the éminence grise of the Russian foreign policy community and head of the Presidium of the Council on Foreign and Defense Policy. This article had the title: “No One Needs Monsters. Desovereignization of Ukraine.” Karaganov depicted Ukraine as a failed state that was in a process of “passive desovereignization.” The process was, however, not only “passive.” Karaganov warned that “Russia will not want to see absolutely ungovernable territories close by.” Yuriy Shcherbak, former Ukrainian ambassador to the United States, wrote in response: “In military language it is called the ideological-propagandistic support of the future operation on capturing the territory of a sovereign state.” In fact, Russian politicians continued to denounce Ukraine as an “artificial” country that had no right to exist. At the height of the financial crisis Valery Fadeyev, editor of the political journal Ekspert, wrote: “Ukraine is cheap, we can buy it.” It sounded less aggressive, almost as a joke, but it expressed the same contempt for Russia’s neighbor and its status as an independent, sovereign state [239―40].
Marcel H. Van Herpen (Putin's Wars: The Rise of Russia's New Imperialism)
To appreciate the asymmetry between the possibility effect and the certainty effect, imagine first that you have a 1% chance to win $1 million. You will know the outcome tomorrow. Now, imagine that you are almost certain to win $1 million, but there is a 1% chance that you will not. Again, you will learn the outcome tomorrow. The anxiety of the second situation appears to be more salient than the hope in the first. The certainty effect is also more striking than the possibility effect if the outcome is a surgical disaster rather than a financial gain. Compare the intensity with which you focus on the faint sliver of hope in an operation that is almost certain to be fatal, compared to the fear of a 1% risk. The combination of the certainty effect and possibility effects at the two ends of the probability scale is inevitably accompanied by inadequate sensitivity to intermediate probabilities. You can see that the range of probabilities between 5% and 95% is associated with a much smaller range of decision weights (from 13.2 to 79.3), about two-thirds as much as rationally expected. Neuroscientists have confirmed these observations, finding regions of the brain that respond to changes in the probability of winning a prize. The brain’s response to variations of probabilities is strikingly similar to the decision weights estimated from choices. Probabilities that are extremely low or high (below 1% or above 99%) are a special case. It is difficult to assign a unique decision weight to very rare events, because they are sometimes ignored altogether, effectively assigned a decision weight of zero. On the other hand, when you do not ignore the very rare events, you will certainly overweight them. Most of us spend very little time worrying about nuclear meltdowns or fantasizing about large inheritances from unknown relatives. However, when an unlikely event becomes the focus of attention, we will assign it much more weight than its probability deserves. Furthermore, people are almost completely insensitive to variations of risk among small probabilities. A cancer risk of 0.001% is not easily distinguished from a risk of 0.00001%, although the former would translate to 3,000 cancers for the population of the United States, and the latter to 30.
Daniel Kahneman (Thinking, Fast and Slow)
The Seventh Central Pay Commission was appointed in February 2014 by the Government of India (Ministry of Finance) under the Chairmanship of Justice Ashok Kumar Mathur. The Commission has been given 18 months to make its recommendations. The terms of reference of the Commission are as follows:  1. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure including pay, allowances and other facilities/benefits, in cash or kind, having regard to rationalisation and simplification therein as well as the specialised needs of various departments, agencies and services, in respect of the following categories of employees:-  (i) Central Government employees—industrial and non-industrial; (ii) Personnel belonging to the All India Services; (iii) Personnel of the Union Territories; (iv) Officers and employees of the Indian Audit and Accounts Department; (v) Members of the regulatory bodies (excluding the RBI) set up under the Acts of Parliament; and (vi) Officers and employees of the Supreme Court.   2. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure, concessions and facilities/benefits, in cash or kind, as well as the retirement benefits of the personnel belonging to the Defence Forces, having regard to the historical and traditional parties, with due emphasis on the aspects unique to these personnel.   3. To work out the framework for an emoluments structure linked with the need to attract the most suitable talent to government service, promote efficiency, accountability and responsibility in the work culture, and foster excellence in the public governance system to respond to the complex challenges of modern administration and the rapid political, social, economic and technological changes, with due regard to expectations of stakeholders, and to recommend appropriate training and capacity building through a competency based framework.   4. To examine the existing schemes of payment of bonus, keeping in view, inter-alia, its bearing upon performance and productivity and make recommendations on the general principles, financial parameters and conditions for an appropriate incentive scheme to reward excellence in productivity, performance and integrity.   5. To review the variety of existing allowances presently available to employees in addition to pay and suggest their rationalisation and simplification with a view to ensuring that the pay structure is so designed as to take these into account.   6. To examine the principles which should govern the structure of pension and other retirement benefits, including revision of pension in the case of employees who have retired prior to the date of effect of these recommendations, keeping in view that retirement benefits of all Central Government employees appointed on and after 01.01.2004 are covered by the New Pension Scheme (NPS).   7. To make recommendations on the above, keeping in view:  (i) the economic conditions in the country and the need for fiscal prudence; (ii) the need to ensure that adequate resources are available for developmental expenditures and welfare measures; (iii) the likely impact of the recommendations on the finances of the state governments, which usually adopt the recommendations with some modifications; (iv) the prevailing emolument structure and retirement benefits available to employees of Central Public Sector Undertakings; and (v) the best global practices and their adaptability and relevance in Indian conditions.   8. To recommend the date of effect of its recommendations on all the above.
M. Laxmikanth (Governance in India)