A Quote by John Maynard Keynes
Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better.
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It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics. Why? Because discrimination, poverty and ignorance restrict growth. We know that investments in education, infrastructure and scientific and technological research increase growth. They increase good jobs, and they create new wealth for all of us.
I've been a faithful reader of the great classical documents of economics, or tried to be. The first book in the field that I ever read was Principles of Economics by Alfred Marshall. I suppose subsequently I would have to pick out Keynes, Adam Smith, Marx.
Educating all of our children must be one of our most urgent priorities. We all know that education, more than anything else, improves our chances of
building better lives.
No building is better than its structural foundation, and no man (woman) is better than his (her) mental foundation. When I prepared my original Success Pyramid years ago, I put industriousness and enthusiasm as the two cornerstones with LOYALTY right in the middle of the pyramid - Loyalty to yourself and to all those dependent upon you.
As adults, if our top priorities are constantly directed toward the acquisition of more and better worldly goods, it will not take long to increase our love in those directions. The purchase of a larger house or a nicer car or a more expensive boat may cause us to sacrifice our resources and develop an unwise love for these symbols of success and pleasure. We learn to love that which we serve, and we serve that which we love.
I do sense, as compared with let's say the early '50s, there's somewhat more of a careerism. I don't think it's anything special to economics; it's equally true with physics or biology. A graduate education has become a more career-oriented thing, and part of that is because of the need for funding. In fact, that's a much worse problem in the natural sciences than it is in economics. So you can't even do your work in the natural sciences, particularly, and even to some extent in economics, without funding.
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.
On behalf of the newspaper industry I wish to announce some changes we're making to serve you better. When I say 'serve you better,'' I mean 'increase our profits.' We newspapers are very big on profits these days. We're a business, just like any other business, except that we employ English majors.
My Prime Minister regards the economy as our highest priority and forgets that economics and ecology are derived from the same Greek word, oikos, meaning household or domain. Ecology is the study of home, while economics is its management. Ecologists try to define the conditions and principles that enable a species to survive and flourish. Yet in elevating the economy above those principles, we seem to think we are immune to the laws of nature. We have to put the ‘eco’ back into economics.
In judging our progress as individuals we tend to concentrate on external factors such as one's social position, influence and popularity, wealth and standard of education... But internal factors may be even more crucial in assessing one's development as a human being. Honesty, sincerity, simplicity, humility, pure generosity, absence of vanity, readiness to serve others - qualities which are within easy reach of every soul - are the foundation of one's spiritual life.
Let us never lose sight of the fact that education is a preparation for life - and that preparing for life is far more than knowing how to make a living or how to land on the moon. Preparing for life means building personal integrity, developing a sound sense of values, increasing the capacity and willingness to serve. Education must have its roots in moral principles. If we lose sight of that fact in our attempt to match our educational system against that of the materialists, we shall have lost far more than we could possibly gain.
It's not just that people with no education have worse health. People with a bit of education at somewhat better, with a lot of education it's even better. And with even more education it's better still.
The more we increase the active participation and partnership with young people, the better we serve them. ... And the more comprehensively we work with them as service partners, the more we increase our public value to the entire community.
A classical education enables you to despise the wealth that it prevents you from achieving.
I believe our society has fell into a pyramid system where there's people relegated to the bottom of that pyramid and there's people that feel like they're entitled to the top of that pyramid.
Classical economics values things by seeing how much someone will pay for them. But this is where classical economics is wrong. What it fails to account for are all the 'externalities' - the services people regard as free goods: pollination services, flood protection, climate regulation, soil stabilization, carbon sequestration.
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