A Quote by Angus Deaton

Policies aimed at reversing globalization will lead only to a decrease in real income as goods become more expensive.

Angus Deaton

Quote Topics

Become Decrease Expensive Globalization Goods Income Lead More Only Policies Real Will

Quote Author

Angus Deaton
British - Economist
Born: October 19, 1945

Owners of capital will stimulate working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks which will have to be nationalized and State will have to take the road which will eventually lead to communism.

Karl Marx

You know, the elites always want to shame the poor - right? - and everyone else. I mean, the fact is, this economy is based on 70 percent of the people driving consumer demand. If people do not purchase goods and services, this economy will grind to recession. And that is why, if you are going to do a tax cut, it ought to really be aimed at low-income and middle-income people.

Keith Ellison

Globalization and free trade do spur economic growth, and they lead to lower prices on many goods.

Robert Reich

It is possible to increase paper-money income to any amount by debasing the currency. But real income can only be increased by working harder or more efficiently, saving more, investing more, and producing more.

Henry Hazlitt

If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.

Tyler Cowen

European-style interventions to which the Obama administration is inclined will not make America more competitive in the world-wide economy. Such policies will not increase growth, will not decrease unemployment, and will not increase wages for workers.

Elaine Chao

Globalization has become an ideology with no constraints. And now, nations are forcing themselves back into the debate. Nations with borders we control, with people that we listen to, with real economies, not Wall Street economies, but rather factories and farmers. And this goes against this unregulated globalization, wild, savage globalization.

Marine Le Pen

As income from work has become more concentrated in America, the super rich have invested in businesses, real estate, art, and other assets. The income from these assets is now concentrating even faster than income from work.

Robert Reich

Washington politicians think that government can make better decisions than you and me. But we know better. We know it's smaller, less intrusive government that will lead to real economic prosperity. We know it's business-friendly policies, not more red tape, that will create real growth.

Brad Wenstrup

Globalization and technical change are the guarantee of our future prosperity. And reversing on that will not only make things worse, but it will make things worse for a very large number of people around the world who have benefitted - people in China and India who have been dragged out of the most awful poverty.

Angus Deaton

'Globalization' has become the great tag phrase, but when we talk about it, it's nearly always in terms of the global marketplace or communications technology - either data or goods that are whizzing around. We forget that people are whizzing around more and more. On them, it takes a toll.

Pico Iyer

The income disparity is a huge issue. And I think that the only solution to this - there is no easy solution - are fundamental changes. That the world is changing quicker than our policies are changing. And we need the kinds of policies that will let us have a competitive economy going forward.

Henry Paulson

Real music will make you more and more refined. It will become more and more silent. In fact, real music will help you to listen to silence, where all notes disappear, where only gaps remain. One note comes, disappears, and another has not come, and there is a gap. In that gap meditation flows in you.

Rajneesh

Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.

Philip Kotler

Modern 'public health' initiatives have moved well beyond what could reasonably be classified as public goods. Today, government undertakes all sorts of policies in the name of public health that are aimed at regulating personal behavior.