A Quote by Mick Mulvaney
Bad spending, to me, in terms of its economic benefit, would be wealth transfer payments. It's a misallocation of resources.
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When public spending in the form of transfer payments makes various services and benefits free of charge, work is discouraged. Yet it is precisely Social Security that legislators fear to cut.
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
The stimulus legislation, technically known as the American Recovery and Reinvestment Act of 2009, was a mixture of tax cuts for families and businesses; increased transfer payments, like unemployment insurance; and increased direct government spending, like infrastructure investment.
The erroneous economic belief in scarcity leads directly to the mistaken theological belief that God does not want us to be rich. After all, in a world of scarce physical resources, a person could achieve personal wealth only by taking wealth from another - something that a truly benevolent, loving God would never allow.
Capital, and the question of who owns it and therefore reaps the benefit of its productiveness, is an extremely important issue that is complementary to the issue of full employment... I see these as twin pillars of our economy: Full employment of our labor resources and widespread ownership of our capital resources. Such twin pillars would go a long way in providing a firm underlying support for future economic growth that would be equitably shared.
Conventional economic theory... counts the depletion of resources as the accumulation of wealth.
We are, after all, only trustees of the wealth we possess. Without the community and its resources... there would be little wealth for anyone.
No man should be viewed as having more to offer the world than another. We are all equals and every human being has something of value in their composition which makes them unique, just as every country has their own unique resources to share with the world. Never discount somebody based on material wealth, for true wealth is what cannot be seen. Never discount a country by what they can't provide your country, while their resources may benefit other lands in need.
We are in tough economic times right now, and the first thing we have to do is look at how we're spending the dollars that we have, and at what kind of return on investment we're getting. Because I think it will show that spending more money without fixing the fundamental flaws in the system won't produce anything different in terms of results. In DC, we were spending a whole lot of money on things that had no positive impact on students' achievement levels.
'Egalitarians' who complain about inequality view the wealth of the wealthiest as bad in itself: it disfigures society. They would enact a wealth tax to extirpate the offending wealth.
[Suburbia] represents, after all, the greatest misallocation of resources in the history of the world. We built it during our most affluent period of history, and in the decades to come we will be comparatively destitute collectively. In short, we will not have the resources to retrofit most of suburbia.
Turkey is a model of economic and social development, especially in terms of human resources and regional cooperation.
Cutting down a forest for timber adds to GDP, but what we don't record is the loss to our wealth in terms of natural resources.
Economic globalization creates wealth, but only for the elite who benefit from the surge of consolidations, mergers, global scale technology, and financial activity.
All the impoverishing effects of socialism are with us in the U.S.: reduced levels of investment and saving, the misallocation of resources, the overutilization and vandalization of factors of production, and the inferior quality of products and services.
'Freeing' a literary work into the public domain is less a public benefit than a transfer of wealth from the families of American writers to the executives and stockholders of various businesses who will continue to profit from, for example, 'The Garden Party,' while the descendants of Katherine Mansfield will not.
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