economics Quotes

If people continue to feel like Democrats are looking after poor folks and Republicans are looking after rich folks and nobody is looking after me, then we don't get a lot of stuff done. And the trend lines evidence the fact that folks have gotten squeezed. And obviously, 2007, 2008 really ripped open for people how vulnerable they were.

Nothing can have value without being an object of utility.

Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.

Pop culture shapes our ideas of what is normal and what our dreams can be and what our roles are. Politics, of course, decides how the power and the money in the country is distributed. Both are equally important, and each affects the other.

You know people talk about federal money as if it falls from heaven. You know we thank heaven for it, but it came out of people's pockets - and I've driven all over Washington, D.C., I cannot find the money tree.

When an industry matures, it means it's not advancing, and of course the jobs go overseas. That's the obligation of the multi-national corporation: to put the factory where it can make the widget as cheap as possible. Don't get angry when a corporation does that; we've all bought into this concept. We live in a capitalistic society.

There's a simple arithmetical logic at work. Build more unaffordable and not always architecturally sympathetic apartments, watch the rents rise, the tarts leave, the small shops, production offices and design studios close down, and hey presto, we have another fashionable London suburb indistinguishable from the rest.

When you innovate, you create new industries that then boost your economy. And when you create new industries and that becomes part of your culture, your jobs can't go overseas because no one else has figured out how to do it yet.

This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

The problem with socialism is that you eventually run out of other peoples' money.