A Quote by Douglas Massey
Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
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We cannot eradicate global drug markets, but we can certainly regulate them as we have done with alcohol and tobacco markets. Drug abuse, alcoholism and tobacco should be treated as public health problems, not criminal justice issues.
Markets are, in the end, man-made devices for utilitarian purposes, not a force of nature that we should not try to resist. If they end up serving the interests of only a tiny minority, as is increasingly the case, we have the right - and indeed the duty - to regulate them in the interest of greater social good.
Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
Markets are useful instruments for organizing productive activity. But unless we want to let the market rewrite the norms that govern social institutions, we need a public debate about the moral limits of markets.
If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.
There's been a dichotomy in the world financial markets over the last 30 years between the developed markets and the developing markets. Brazil, for example, always had to pay a lot more in interest to borrow money than governments in developed nations.
Since the dawn of civilization, markets have been ubiquitous. Many of us have benefited from their focus and efficiency. Yet two widely held beliefs - that markets are best left unregulated and that markets are inherently benign - are naive and outdated.
I have two interests in life - markets and women. Both are concerned with four letter words - markets with the risk and woman with love.
History speaks pretty clearly that the markets do better with Democrats. Republicans' ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets.
When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.
Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually impossible to know how to run those markets efficiently before they are created.
Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy.
I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
Taming the financial markets and winning back democratic control over them is the central condition for creating a new social balance in Germany and Europe.
Markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reigning in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market.
If we make all of the people good, markets will be good. If markets are bad, which they are, that means people are bad, which they are. Want good markets? Change the people.
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