economics Quotes

Debt is a social and ideological construct, not a simple economic fact.

There is massive propaganda for everyone to consume. Consumption is good for profits and consumption is good for the political establishment.

In every country except - industrial country except the United States, the government uses its massive purchasing power to negotiate drug prices. That's one of the reasons prices are so much higher in the United States than in other countries.

A financial institution has the task of taking risks, and if it's a well run institution - say, Goldman Sachs - it tries to cover the potential losses to itself, but only to itself.

The term 'globalisation' is conventionally used to refer to the specific form of investor-rights integration designed by wealth and power, for their own interests.

Markets are lethal, if only because of ignoring externalities, the impacts of their transactions on the environment.

I didn't pay my taxes for years.

Karl Marx was in favor of socialist and communist-socialist revolutions, but he had a pretty nuanced view about it.

Government actually grew during the Reagan years.

To my mind the old masters are not art; their value is in their scarcity.