A Quote by Bill Gross

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

Bill Gross

Quote Topics

Finance Base Being Destroyed Developed Economies Gradually Itself Manufacturing Nearly Replaced World

Quote Author

Bill Gross
American - Businessman
Born: April 13, 1944

One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.

Peter Dicken

In early 2008, before the criminal greed of America's mortgage and investment bank industry nearly destroyed the world's economy, the balance sheet of the U.S. Federal Reserve stood at about $870 billion.

Neil Macdonald

Structuralism argues that a liberal capitalist world economy tends to preserve or actually increase inequalities between developed and less developed economies.

Robert Gilpin

Art, when destroyed can never be replaced, yet history repeats itself.

Clarence H. Burns

Women in finance bore the brunt of layoffs more than their male counterparts during the Great Recession in 2008 and were also more likely to have been in back office jobs that were replaced by computers.

Mary Pilon

The planet was being destroyed by manufacturing processes, and what was being manufactured was lousy, by and large.

Kurt Vonnegut

The rise of globalization, the rise of finance capital, the elimination of the manufacturing base, the decimation of the working class, particularly in terms of those who had some comforts that approximated what the middle class had.

Henry Giroux

Automation is no longer just a problem for those working in manufacturing. Physical labor was replaced by robots; mental labor is going to be replaced by AI and software.

Andrew Yang

Today, local economies are being destroyed by the 'pluralistic,' displaced, global economy, which has no respect for what works in a locality. The global economy is built on the principle that one place can be exploited, even destroyed, for the sake of another place.

Wendell Berry

We need to ensure our men and women in uniform are equipped with the very best money can buy. We also have to make sure critical military technologies are developed in America and that the U.S. defense manufacturing base remains healthy and strong.

Joe Lieberman

We have a very good history of manufacturing in this country but I worry that these skills are being lost. We walk around saying, 'We haven't got any manufacturing any more' but Made In Britain really means something, particularly in other parts of the world. We need to support British manufacturing.

Deborah Meaden

In the business world, we can point to instances when a lack of integrity has bankrupted entire companies - in sectors as different as finance, telecommunications, manufacturing, and energy.

Rex Tillerson

Beauty is the disinterested one, without which the ancient world refused to understand itself, a word which both imperceptibly and yet unmistakably has bid farewell to our new world, a world of interests, leaving it to its own avarice and sadness.

Hans Urs von Balthasar

In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property.

Maurice Allais

China is still our largest trading partner; however, complementarity between our economies is decreasing. We had the ability to organize a manufacturing process, and then we moved our manufacturing capability to China to make use of their labor pool.