A Quote by Herman E. Daly

Even if we could grow our way out of the crisis and delay the inevitable and painful reconciliation of virtual and real wealth, there is the question of whether this would be a wise thing to do. Marginal costs of additional growth in rich countries, such as global warming, biodiversity loss and roadways choked with cars, now likely exceed marginal benefits of a little extra consumption. The end result is that promoting further economic growth makes us poorer, not richer.

Herman E. Daly

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Additional Benefits Biodiversity Consumption Costs Could Countries Crisis Delay Economic Economic Growth End End Result Even Exceed Extra Further Global Global Warming Grow Growth Inevitable Likely Little Loss Makes Marginal Now Our Out Painful Poorer Promoting Question Real Real Wealth Reconciliation Result Rich Rich Countries Richer Thing Us Virtual Warming Way Wealth Whether Wise Would Would Be

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Herman E. Daly
American - Economist
Born: 1938

If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.

Robert H. Frank

The capitalist system is about taking from the Earth and from the other great commodity, labour. What's happening with this system is that the rich are getting richer and the poor are getting poorer, and the only way out of it is supposed to be growth. But growth is debt. It's going to make the situation worse.

Vivienne Westwood

We're richer, but that wealth doesn't reflect durable, authentic economic value - which is hitting fast diminishing returns. The growth that we're pursuing is neither sustainable - nor is it, in many ways, real growth at all. Boardrooms from finance to autos to energy to pharma to fashion have learned that the hard way.

Umair Haque

The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.

Paul Samuelson

Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.

Mike Pence

If we had 3 percent growth, which is what we're trying to get to, what we're at, by the way, right now, we're trying to maintain that 3 percent growth. If we had been at 3 percent growth over the last ten years, the budget very nearly would be balanced in 2017. That's how big a difference it makes when you grow the American economy that additional 1 percent over ten years.

Mick Mulvaney

This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

Barack Obama

Indebted countries can only grow out of their debt troubles through strong economic growth; austerity measures alone cannot work. It is imperative to engage in deep structural reform to spur growth.

Lou Jiwei

I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a recipe for economic growth.

Glenn Hubbard

Without the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.

Friedrich August von Hayek

A person looking after a frail former lover is not working and not contributing to economic growth. But if he or she stopped, the state would probably have to take over, thereby adding to growth. So, to increase growth, we should stop looking after our loved ones. Could anybody explain to a passing Martian how this makes sense?

Guy Standing

China's accumulation of reserves is a result of the IMF's mismanagement of the Asian financial crisis a decade or so ago. If countries know they can't rely on the IMF to help them, their best defense is their own reserve cushion. In a time of spreading global recession, too much emphasis on savings in surplus countries like China can impede prospects for global growth.

Joseph Stiglitz

There's a perception that police are less likely to do the marginal additional policing that suppresses crime: the getting out of your car at 2 in the morning and saying to a group of guys, 'What are you doing here?'

James Comey

I feel we have to begin standing our ground in the places we love. I think that we have to demand that concern for the land, concern for the Earth, and this extension of community that we've been speaking of, is not marginal - in the same way that women's rights are not marginal, in the same way that rights for children are not marginal. There is no separation between the health of human beings and the health of the land. It is all part of a compassionate view of the world.

Terry Tempest Williams

You gotta realize that the whole fiasco of the environment, all this global warming hocus-pocus - which the only thing it's done is made Al Gore a multi-millionaire - but, what it's done is, it has been used as a way to curtail growth, to destroy the growth, exploration.

Rafael Cruz

The in-love experience does not focus on our own growth or on the growth and development of the other person. Rather, it gives us the sense that we have arrived and that we do not need further growth.

Gary Chapman

A Quote by Herman E. Daly

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