A Quote by Alan M. Taylor
The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
Quote Topics
Quote Author
Related Quotes
We have never in human history seen a run-up in credit of the kind we have just witnessed in advanced economies since 1970, and we have never observed modern finance-capitalist systems operating over a sustained period at this kind of credit-to-GDP leverage ratio.
A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.
Given all the money printing that is going on globally - and not just in the US - and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance.
A pickup in demand in many advanced economies and a stabilization in commodity prices should, in turn, boost the growth prospects of emerging market economies.
Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.
Since 2010, America has put more people back to work than Europe, Japan, and all advanced economies combined.
It could be that these other civilizations, if they are far more advanced intellectually than we are, would not even measure our existence as a blip on the intelligence radar. They could be so advanced that we are to them what worms are to us.
The poor don't live in functional market economies as the rest of us do, but in political economies where corruption and broken systems extend from local government to moneylenders.
The U.S. has fewer, stingier, more complicated, and more conditional safety nets available to people than many other advanced economies - less generous 'automatic stabilizers,' in economic parlance.
Advanced industrialised economies like ourselves cannot afford to go on growing, particularly if we want to give people in poorer countries a chance of being able to at least meet their basic needs.
The telecom industry reaches into every corner of our economies, societies, and private lives, and it is one of the greatest drivers of economic growth and human equality the world has ever seen.
...by serving as the dominant power in the Gulf, WE maintain a 'stranglehold' over the economies of other nations. This gives us extraordinary leverage in world affairs, and explains to some degree why states like Japan, Britain, France, and Germany - states that are even more dependent on Persian Gulf oil than we are - defer to Washington on major international issues (like Iraq) even when they disagree with us.
The governments are seen to be less effective than they used to be. The private sector is perceived as being so much more efficient, and so globalization implies a transfer of power to the private sector.
The division [between how much housework men and women do] is declining across all advanced economies - not for the reasons that people want, which is men are doing more, but because women are doing less of it, but even then, the trend is getting towards equality.
Manufacturing is still very important to us, but we are much more diversified state. And furthermore, anybody that says the steel mills are coming back to Youngstown is not telling the truth. They're not coming back. You could have some aspects of advanced manufacturing appear.
I thought that biology and macro economies, especially, was fairly related between the systems level, and so I graduated the university with a degree in Genetic Engineering and Economies, and I moved to San Francisco to try out how to make money with just the ideas itself.
