Economic Quotes (21 quotes)
Art is the beautiful way of doing things. Science is the effective way of doing things. Business is the economic way of doing things.
Engineering is the conscious application of science to the problems of economic production.
Engineering is the practice of safe and economic application of the scientific laws governing the forces and materials of nature by means of organization, design and construction, for the general benefit of mankind.
Engineering is the science and art of efficient dealing with materials and forces ... it involves the most economic design and execution ... assuring, when properly performed, the most advantageous combination of accuracy, safety, durability, speed, simplicity, efficiency, and economy possible for the conditions of design and service.
Coauthor with Frank W. Skinner, and H. E. Wessman
Coauthor with Frank W. Skinner, and H. E. Wessman
Even bigger machines, entailing even bigger concentrations of economic power and exerting ever greater violence against the environment, do not represent progress: they are a denial of wisdom. Wisdom demands a new orientation of science and technology tow
I am an adherent of the ideal of democracy, although I well know the weaknesses of the democratic form of government. Social equality and economic protection of the individual appeared to me always as the important communal aims of the state.
I consider it important, indeed urgently necessary, for intellectual workers to get together, both to protect their own economic status and, also, generally speaking, to secure their influence in the political field.
I have now reached the point where I may indicate briefly what to me constitutes the essence of the crisis of our time. It concerns the relationship of the individual to society. The individual has become more conscious than ever of his dependence upon society. But he does not experience this dependence as a positive asset, as an organic tie, as a protective force, but rather as a threat to his natural rights, or even to his economic existence. Moreover, his position in society is such that the egotistical drives of his make-up are constantly being accentuated, while his social drives, which are by nature weaker, progressively deteriorate. All human beings, whatever their position in society, are suffering from this process of deterioration. Unknowingly prisoners of their own egotism, they feel insecure, lonely, and deprived of the naive, simple, and unsophisticated enjoyment of life. Man can find meaning in life, short and perilous as it is, only through devoting himself to society.
Imagine Aristotle revivified and visiting Manhattan. Nothing in our social, political, economic, artistic, sexual or religious life would mystify him, but he would be staggered by our technology. Its products—skyscrapers, cars, airplanes, television, pocket calculators—would have been impossible without calculus.
In the social production of their life, men enter into definite relations that are indispensable and independent of their will; these relations of production correspond to a definite stage of development of their material forces of production. The sum total of these relations of production constitutes the economic structure of society - the real foundation, on which rises a legal and political superstructure and to which correspond definite forms of social consciousness. The mode of production of material life determines the social, political and intellectual life process in general. It is not the consciousness of men that determines their being, but, on the contrary, their social being that determines their consciousness. At a certain stage of their development, the material productive forces in society come in conflict with the existing relations of production, or - what is but a legal expression for the same thing - with the property relations within which they have been at work before. From forms of development of the productive forces these relations turn into fetters. Then begins an epoch of social revolution. With the change of the economic foundation the entire immense superstructure is more or less rapidly transformed. In considering such transformations a distinction should always be made between the material transformation of the economic conditions of production, which can be determined with the precision of natural science, and the legal, political, religious, aesthetic or philosophic - in short, ideological forms in which men become conscious of this conflict and fight it out. Just as our opinion of an individual is not based on what he thinks of himself, so we can not judge of such a period of transformation by its own consciousness; on the contrary, this consciousness must be explained rather from the contradictions of material life, from the existing conflict between the social productive forces and the relations of production. No social order ever disappears before all the productive forces for which there is room in it have been developed; and new, higher relations of production never appear before the material conditions of their existence have matured in the womb of the old society itself. Therefore, mankind always sets itself only such tasks as it can solve; since, looking at the matter more closely, we will always find that the task itself arises only when the material conditions necessary for its solution already exist or are at least in the process of formation. In broad outlines we can designate the Asiatic, the ancient, the feudal, and the modern bourgeois modes of production as so many progressive epochs in the economic formation of society. The bourgeois relations of production are the last antagonistic form of the social process of production - antagonistic not in the sense of individual antagonism, but of one arising from the social conditions of life of the individuals; at the same time the productive forces developing in the womb of bourgeois society create the material conditions for the solution of that antagonism. This social formation constitutes, therefore, the closing chapter of the prehistoric stage of human society.
Marxism: The theory that all the important things in history are rooted in an economic motive, that history is a science, a science of the search for food.
Marxists are more right than wrong when they argue that the problems scientists take up,. the way they go about solving them, and even the solutions they arc inclined to accept, arc conditioned by the intellectual, social, and economic environments in which they live and work.
Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?
Science is concerned with what is possible while engineering is concerned with choosing, from among the many possible ways, one that meets a number of often poorly stated economic and practical objectives.
Scientists are not robotic inducing machines that infer structures of explanation only from regularities observed in natural phenomena (assuming, as I doubt, that such a style of reasoning could ever achieve success in principle). Scientists are human beings, immersed in culture, and struggling with all the curious tools of inference that mind permits ... Culture can potentiate as well as constrain–as Darwin’s translation of Adam Smith’s laissez-faire economic models into biology as the theory of natural selection. In any case, objective minds do not exist outside culture, so we must make the best of our ineluctable embedding.
The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil. We see before us a huge community of producers the members of which are unceasingly striving to deprive each other of the fruits of their collective labor–not by force, but on the whole in faithful compliance with legally established rules.
The Lincoln Highway is to be something more than a road. It will be a road with a personality, a distinctive work of which the Americans of future generations can point with pride - an economic but also artistic triumph. (1914)
The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition, we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries, we must claim its promise. That’s how we will maintain our economic vitality and our national treasure—our forests and waterways, our crop lands and snow-capped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.
When a community or species has no known worth or other economic value to humanity, it is as dishonest and unwise to trump up weak resource values for it as it is unnecessary to abandon the effort to conserve it.
While religion prescribes brotherly love in the relations among the individuals and groups, the actual spectacle more resembles a battlefield than an orchestra. Everywhere, in economic as well as in political life, the guiding principle is one of ruthless striving for success at the expense of one’s fellow men. This competitive spirit prevails even in school and, destroying all feelings of human fraternity and cooperation, conceives of achievement not as derived from the love for productive and thoughtful work, but as springing from personal ambition and fear of rejection.
Why do they prefer to tell stories about the possible medicinal bene-fits of the Houston toad rather than to offer moral reasons for sup-porting the Endangered Species Act? That law is plainly ideological; it is hardly to be excused on economic grounds.