Economy Quotes (55 quotes)
[As Chief Scientific Adviser to the British Ministry of Defence] We persist in regarding ourselves as a Great Power, capable of everything and only temporarily handicapped by economic difficulties. We are not a great power and never will be again. We are a great nation, but if we continue to behave like a Great Power we shall soon cease to be a great nation. Let us take warning from the fate of the Great Powers of the past and not burst ourselves with pride (see Aesop’s fable of the frog). (1949)
By virtue of the way it has organized its technological base, contemporary industrial society tends to be totalitarian. For 'totalitarian' is not only a terroristic political coordination of society, but also a non-terroristic economic-technical coordination which operates through the manipulation of needs by vested interests. It thus precludes the emergence of an effective opposition against the whole. Not only a specific form of government or party rule makes for totalitarianism, but also a specific system of production and distribution which may well be compatible with a 'pluralism' of parties, newspapers, 'countervailing powers,' etc.
Chemistry is not a primitive science like geometry and astronomy; it is constructed from the debris of a previous scientific formation; a formation half chimerical and half positive, itself found on the treasure slowly amassed by the practical discoveries of metallurgy, medicine, industry and domestic economy. It has to do with alchemy, which pretended to enrich its adepts by teaching them to manufacture gold and silver, to shield them from diseases by the preparation of the panacea, and, finally, to obtain for them perfect felicity by identifying them with the soul of the world and the universal spirit.
Climate change threatens every corner of our country, every sector of our economy and the health and future of every child. We are already seeing its impacts and we know the poorest and most vulnerable people in the United States and around the world will suffer most of all.
Cyberspace consists of transactions, relationships, and thought itself, arrayed like a standing wave in the web of our communications. Ours is a world that is both everywhere and nowhere, but it is not where bodies live. We are creating a world that all may enter without privilege or prejudice accorded by race, economic power, military force, or station of birth. We are creating a world where anyone, anywhere may express his or her beliefs, no matter how singular, without fear of being coerced into silence or conformity.
Disease is largely a removable evil. It continues to afflict humanity, not only because of incomplete knowledge of its causes and lack of individual and public hygiene, but also because it is extensively fostered by harsh economic and industrial conditions and by wretched housing in congested communities. ... The reduction of the death rate is the principal statistical expression and index of human social progress. It means the saving and lengthening of lives of thousands of citizens, the extension of the vigorous working period well into old age, and the prevention of inefficiency, misery, and suffering. These advances can be made by organized social effort. Public health is purchasable. (1911)
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.
Engineering is the science of economy, of conserving the energy, kinetic and potential, provided and stored up by nature for the use of man. It is the business of engineering to utilize this energy to the best advantage, so that there may be the least possible waste.
Every day we are interacting with the economy, whether we want to or not, and whether we know it or not. To have a level of control over our lives, we need to understand the connections between money and events and ourselves.
Every well established truth is an addition to the sum of human power, and though it may not find an immediate application to the economy of every day life, we may safely commit it to the stream of time, in the confident anticipation that the world will not fail to realize its beneficial results.
Hitler is living—or shall I say sitting?—on the empty stomach of Germany. As soon as economic conditions improve, Hitler will sink into oblivion. He dramatizes impossible extremes in an amateurish manner.
Human behaviour reveals uniformities which constitute natural laws. If these uniformities did not exist, then there would be neither social science nor political economy, and even the study of history would largely be useless. In effect, if the future actions of men having nothing in common with their past actions, our knowledge of them, although possibly satisfying our curiosity by way of an interesting story, would be entirely useless to us as a guide in life.
I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals.
I should regard them [the Elves interested in technical devices] as no more wicked or foolish (but in much the same peril) as Catholics engaged in certain kinds of physical research (e.g. those producing, if only as by-products, poisonous gases and explosives): things not necessarily evil, but which, things being as they are, and the nature and motives of the economic masters who provide all the means for their work being as they are, are pretty certain to serve evil ends. For which they will not necessarily be to blame, even if aware of them.
I won’t let anyone take us backward, deny our economy the benefits of harnessing a clean energy future, or force our children to endure the catastrophe that would result from unchecked climate change.
Ideologues of all persuasions think they know how the economy will respond to the Administration’s strange mixture of Lafferism and monetarism. Indeed, their self-confidence is so vast, and their ability to rationalize so crafty, that one cannot imagine a scenario for the next few years, that they would regard as falsifying their dogma. The failure of any prediction can always be blamed on quirky political decisions or unforeseen historical events.
If that's how it all started, then we might as well face the fact that what's left out there is a great deal of shrapnel and a whole bunch of cinders (one of which is, fortunately, still hot enough and close enough to be good for tanning). Trying to find some sense and order in this mess may be as futile as trying to … reconstruct the economy of Iowa from a bowl of popcorn. [On searching for evidence of the Big Bang.]
In 1891, during the Presidency of William Henry Harrison [Benjamin Harrison], electric lights were first installed in the White House, the residence of the leaders of our country. At that time, commercial electricity was not economically feasible, but President Harrison wanted to affirm his confidence in the technological capability of our country.
In studying the fate of our forest king, we have thus far considered the action of purely natural causes only; but, unfortunately, man is in the woods, and waste and pure destruction are making rapid headway. If the importance of the forests were even vaguely understood, even from an economic standpoint, their preservation would call forth the most watchful attention of government
It appears unlikely that the role of the genes in development is to be understood so long as the genes are considered as dictatorial elements in the cellular economy. It is not enough to know what a gene does when it manifests itself. One must also know the mechanisms determining which of the many gene-controlled potentialities will be realized.
It seems perfectly clear that Economy, if it is to be a science at all, must be a mathematical science. There exists much prejudice against attempts to introduce the methods and language of mathematics into any branch of the moral sciences. Most persons appear to hold that the physical sciences form the proper sphere of mathematical method, and that the moral sciences demand some other method—I know not what.
Look at life as an energy economy game. Each day, ask yourself, Are my energy expenditures (actions, reactions, thoughts, and feelings) productive or nonproductive? During the course of my day, have I accumulated more stress or more peace?
My Rainforests Project … has three main elements. Firstly, to determine how much funding the rainforest countries need to re-orientate their economies so that the trees are worth more alive than dead.
Nature's economy shall be the base for our own, for it is immutable, but ours is secondary. An economist without knowledge of nature is therefore like a physicist without knowledge of mathematics.
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?
Over and over again, we must stress that a healthy ecology is the basis for a healthy economy.
Physics is experience, arranged in economical order.
Richard Drew embodied the essential spirit of the inventor, a person of vision and unrelenting persistence who refused to give in to adversity. He made an enormous contribution, not only to the growth of 3M, but also to advancement of many modern industries vital to worldwide economic growth.
Science knows no politics. Are we in this frenzy of [the Depression] economy, brought about by those who control the wealth of this country, seeking to put a barrier on science and research for the paltry sum of $39,113 out of an appropriation of $100,000,000?
The advance from the simple to the complex, through a process of successive differentiations, is seen alike in the earliest changes of the Universe to which we can reason our way back, and in the earliest changes which we can inductively establish; it is seen in the geologic and climatic evolution of the Earth; it is seen in the unfolding of every single organism on its surface, and in the multiplication of kinds of organisms; it is seen in the evolution of Humanity, whether contemplated in the civilized individual, or in the aggregate of races; it is seen in the evolution of Society in respect alike of its political, its religious, and its economical organization; and it is seen in the evolution of all those endless concrete and abstract products of human activity which constitute the environment of our daily life. From the remotest past which Science can fathom, up to the novelties of yesterday, that in which Progress essentially consists, is the transformation of the homogeneous into the heterogeneous.
The architect does not demand things which cannot be found or made ready without great expense. For example: it is not everywhere that there is plenty of pitsand, rubble, fir, clear fir, and marble… Where there is no pitsand, we must use the kinds washed up by rivers or by the sea… and other problems we must solve in similar ways.
The economic and technological triumphs of the past few years have not solved as many problems as we thought they would, and, in fact, have brought us new problems we did not foresee.
The fact is that up to now the free society has not been good for the intellectual. It has neither accorded him a superior status to sustain his confidence nor made it easy for him to acquire an unquestioned sense of social usefulness. For he derives his sense of usefulness mainly from directing, instructing, and planning-from minding other people’s business-and is bound to feel superfluous and neglected where people believe themselves competent to manage individual and communal affairs, and are impatient of supervision and regulation. A free society is as much a threat to the intellectual’s sense of worth as an automated economy is to the workingman’s sense of worth. Any social order that can function with a minimum of leadership will be anathema to the intellectual.
The great testimony of history shows how often in fact the development of science has emerged in response to technological and even economic needs, and how in the economy of social effort, science, even of the most abstract and recondite kind, pays for itself again and again in providing the basis for radically new technological developments. In fact, most people—when they think of science as a good thing, when they think of it as worthy of encouragement, when they are willing to see their governments spend substance upon it, when they greatly do honor to men who in science have attained some eminence—have in mind that the conditions of their life have been altered just by such technology, of which they may be reluctant to be deprived.
The land! That is where our roots are. There is the basis of our physical life. The farther we get away from the land, the greater our insecurity. From the land comes everything that supports life, everything we use for the service of physical life. The land has not collapsed or shrunk in either extent or productivity. It is there waiting to honor all the labor we are willing to invest in it, and able to tide us across any dislocation of economic conditions.
The maintenance of biological diversity requires special measures that extend far beyond the establishment of nature reserves. Several reasons for this stand out. Existing reserves have been selected according to a number of criteria, including the desire to protect nature, scenery, and watersheds, and to promote cultural values and recreational opportunities. The actual requirements of individual species, populations, and communities have seldom been known, nor has the available information always been employed in site selection and planning for nature reserves. The use of lands surrounding nature reserves has typically been inimical to conservation, since it has usually involved heavy use of pesticides, industrial development, and the presence of human settlements in which fire, hunting, and firewood gathering feature as elements of the local economy.
The sense for style … is an aesthetic sense, based on admiration for the direct attainment of a foreseen end, simply and without waste. Style in art, style in literature, style in science, style in logic, style in practical execution have fundamentally the same aesthetic qualities, namely, attainment and restraint. The love of a subject in itself and for itself, where it is not the sleepy pleasure of pacing a mental quarter-deck, is the love of style as manifested in that study. Here we are brought back to the position from which we started, the utility of education. Style, in its finest sense, is the last acquirement of the educated mind; it is also the most useful. It pervades the whole being. The administrator with a sense for style hates waste; the engineer with a sense for style economises his material; the artisan with a sense for style prefers good work. Style is the ultimate morality of the mind.
The simplicity of nature is not to be measured by that of our conceptions. Infinitely varied in its effects, nature is simple only in its causes, and its economy consists in producing a great number of phenomena, often very complicated, by means of a small number of general laws.
The term ‘community’ implies a diversity but at the same time a certain organized uniformity in the units. The units are the many individual plants that occur in every community, whether this be a beech-forest, a meadow, or a heath. Uniformity is established when certain atmospheric, terrestrial, and any of the other factors discussed in Section I are co-operating, and appears either because a certain, defined economy makes its impress on the community as a whole, or because a number of different growth-forms are combined to form a single aggregate which has a definite and constant guise.
The tragedy of deforestation in Amazonia as well as elsewhere in the tropics is that its costs, in... economic, social, cultural, and aesthetic terms, far outweigh its benefits. In many cases, destruction of the region’s rainforests is motivated by short-term gains rather than the long-term productive capacity of the land. And, as a result, deforestation usually leaves behind landscapes that are economically as well as ecologically impoverished.
The Unexpected stalks a farm in big boots like a vagrant bent on havoc. Not every farmer is an inventor, but the good ones have the seeds of invention within them. Economy and efficiency move their relentless tinkering and yet the real motive often seems to be aesthetic. The mind that first designed a cutter bar is not far different from a mind that can take the intractable steel of an outsized sickle blade and make it hum in the end. The question is how to reduce the simplicity that constitutes a problem (“It's simple; it's broke.”) to the greater simplicity that constitutes a solution.
There are about 3,000,000 people seriously ill in the United States…. More than half of this illness is preventable. If we count the value of each life lost at only $1700 and reckon the average earning lost by illness at $700 a year for grown men, we find that the economic gain from mitigation of preventable disease in the United States would exceed $1,500,000,000 a year. … This gain … can be secured through medical investigation and practice, school and factory hygiene, restriction of labor by women and children, the education of the people in both public and private hygiene, and through improving the efficiency of our health service, municipal, state, and national.
There may be frugality which is not economy. A community, that withholds the means of education from its children, withholds the bread of life and starves their souls.
Thought-economy is most highly developed in mathematics, that science which has reached the highest formal development, and on which natural science so frequently calls for assistance. Strange as it may seem, the strength of mathematics lies in the avoidance of all unnecessary thoughts, in the utmost economy of thought-operations. The symbols of order, which we call numbers, form already a system of wonderful simplicity and economy. When in the multiplication of a number with several digits we employ the multiplication table and thus make use of previously accomplished results rather than to repeat them each time, when by the use of tables of logarithms we avoid new numerical calculations by replacing them by others long since performed, when we employ determinants instead of carrying through from the beginning the solution of a system of equations, when we decompose new integral expressions into others that are familiar,—we see in all this but a faint reflection of the intellectual activity of a Lagrange or Cauchy, who with the keen discernment of a military commander marshalls a whole troop of completed operations in the execution of a new one.
To feed applied science by starving basic science is like economising on the foundations of a building so that it may be built higher. It is only a matter of time before the whole edifice crumbles.
We have not done the things that are necessary to lower emissions because these things fundamentally conflict with deregulated capitalism… We are stuck because the actions that would give us the best chance of averting catastrophe–and would benefit the vast majority–are extremely threatening to an elite minority that has a stranglehold over our economy, our political process, and most of our major media outlets.
We live in a capitalist economy, and I have no particular objection to honorable self-interest. We cannot hope to make the needed, drastic improvement in primary and secondary education without a dramatic restructuring of salaries. In my opinion, you cannot pay a good teacher enough money to recompense the value of talent applied to the education of young children. I teach an hour or two a day to tolerably well-behaved near-adults–and I come home exhausted. By what possible argument are my services worth more in salary than those of a secondary-school teacher with six classes a day, little prestige, less support, massive problems of discipline, and a fundamental role in shaping minds. (In comparison, I only tinker with intellects already largely formed.)
We must reject the false choice between combating climate change and fostering strong economic growth. If any country can prove that, it’s the United States.
We need to be realistic. There is very little we can do now to stop the ice from disappearing from the North Pole in the Summer. And we probably cannot prevent the melting of the permafrost and the resulting release of methane. In addition, I fear that we may be too late to help the oceans maintain their ability to absorb carbon dioxide. But there is something we can do—and it could make the whole difference and buy us time to develop the necessary low carbon economies. We can halt the destruction of the world’s rainforests—and even restore parts of them—in order to ensure that the forests do what they are so good at—in other words storing carbon naturally. This is a far easier, cheaper and quicker option than imagining we can rely on as yet unproven technology to capture carbon at a cost of some $50 per tonne or, for that matter, imagining we can achieve what is necessary through plantation timber.
We prefer economic growth to clean air.
Whatever opinions we may adopt as to the physical constitution of comets, we must admit that they serve some grand and important purpose in the economy of the universe; for we cannot suppose that the Almighty has created such an immense number of bodies, and set them in rapid motion according to established laws, without an end worthy of his perfections, and, on the whole, beneficial to the inhabitants of the system through which they move.
When rich men are thus brought to regard themselves as trustees, and poor men learn to be industrious, economical, temperate, self-denying, and diligent in the acquisition of knowledge, then the deplorable strife between capital and labor, tending to destroy their fundamental, necessary, and irrefragable harmony will cease, and the world will no longer be afflicted with such unnatural industrial conflicts as we have seen during the past century...
Words change their meanings, just as organism s evolve. We would impose an enormous burden on our economy if we insisted on payment in cattle every time we identified a bonus as a pecuniary advantage (from the Latin pecus, or cattle, a verbal fossil from a former commercial reality).
[Concerning] mr Kirwan’s charming treatise on manures. Science never appears so beautiful as when applied to the uses of human life, nor any use of it so engaging as agriculture & domestic economy.
…forcing automakers to sell smaller cars to improve fuel economy [is like]… fighting the nation’s obesity problem by forcing clothing manufacturers to sell garments in only small sizes.
— Bob Lutz