A Quote by Douglass North

The supremacy of Parliament and the embedding of property rights in Common Law put political power in the hands of men anxious to exploit the new economic opportunities and provided the framework for a judicial system to protect and encourage productive economic activity

Douglass North

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Activity Anxious Common Common Law Economic Economic Activity Embedding Encourage Exploit Framework Hands Judicial Judicial System Law Men New Opportunities Parliament Political Political Power Power Productive Property Property Rights Protect Provided Put Rights Supremacy System

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Douglass North
American - Economist
November 5, 1920 - November 23, 2015

The broadening of the economic order which came to be seated in the individual property owner... dramatized by Jefferson's purchase of the Louisiana Territory... "The supremacy of corporate economic power... consolidated by the Supreme Court decision of 1886 which declared that the Fourteenth Amendment protected the corporation... [the New Deal, leading to], within the political arena, as well as in the corporate world itself, competing centers of power that challenged those of the corporate directors.

C. Wright Mills

If you look at the minutes of the constitutional convention - which we have - Madison who was the main framer, proceeded to develop a system in which - as he put it - power would be in the hands of the wealth of the nation, the more responsible set of men and who recognize the need to protect the rights of property owners. That's why in the constitutional system, the most powerful part of the whole system is the senate.

Noam Chomsky

Inclusive economic institutions require secure property rights and economic opportunities not just for the elite but for a broad cross-section of society.

Daron Acemoglu

The legal system is designed to protect men from the superior power of the state but not to protect women or children from the superior power of men. It therefore provides strong guarantees for the rights of the accused but essentially no guarantees for the rights of the victim. If one set out by design to devise a system for provoking intrusive post-traumatic symptoms, one could not do better than a court of law.

Judith Lewis Herman

Viewed as a means to the end of political freedom, economic arrangements are important because of their effect on the concentration or dispersion of power. The kind of economic organization that provides economic freedom directly, namely, competitive capitalism, also promotes political freedom because it separates economic power from political power and in this way enables the one to offset the other

Milton Friedman

Judicial excellence means that a Supreme Court justice must have a sense of the values from which our core of our political- economic system goes. In other words, we should not approve any nominee whose extreme judicial philosophy would undermine rights and liberties relied upon by all Americans.

Herb Kohl

Political democracy cannot flourish under all economic conditions. Democracy requires an economic system which supports the political ideals of liberty and equality for all. Men cannot exercise freedom in the political sphere when they are deprived of it in the economic sphere.

Mortimer Adler

When each of us is free to work out his own economic destiny, within the framework of the market economy, the institution of private property, and the general rule of law, we will all improve our economic condition much faster than when we are ordered around by bureaucrats.

Henry Hazlitt

The slave states of Western world are an outgrowth of monopolistic capitalism - an economic system which is opposed to the wide distribution of private property in many hands. Instead, monopolistic capitalism concentrates productive wealth among a few men, allowing the rest to become a vast proletariat.

Fulton J. Sheen

The road to economic well-being is to reward productive economic activity and to provide a moderate and predictable growth of money to finance real economic growth without reigniting the fires of inflation.

Paul Craig Roberts

They realize that in thirty-four months we have built up new instruments of public power. In the hands of a peoples Government this power is wholesome and proper. But in the hands of political puppets of an economic autocracy such power would provide shackles for the liberties of the people.

Franklin D. Roosevelt

There is not a more dangerous experiment than to place property in the hands of one class, and political power in those of another... If property cannot retain the political power, the political power will draw after it the property.

Daniel Webster

We have power... Our power isn’t in a political system, or a religious system, or in an economic system, or in a military system; these are authoritarian systems... they have power... but it’s not reality. The power of our intelligence, individually or collectively IS the power; this is the power that any industrial ruling class truly fears: clear coherent human beings.

John Trudell

For the record, feminism by definition is: 'The belief that men and women should have equal rights and opportunities. It is the theory of the political, economic and social equality of the sexes.'

Emma Watson

High levels of economic inequality lead to imbalances in political power, as those at the top use their economic weight to shape our politics in ways that give them more economic power.

Joseph Stiglitz

China and Germany are important geo-economic powers that have been able to bolster their geo-political and even military power, thanks to the opportunity provided by their geo-economic rise.

Sanjaya Baru

A Quote by Douglass North

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