A Quote by Nick Hanauer
Middle-out economics rejects the old misconception that an economy is a perfectly efficient, mechanistic system and embraces the much more accurate idea of an economy as a complex ecosystem made up of real people who are dependent on one another.
Related Quotes
The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.
Trickle-down economics - it didn't work. The whole idea was supply-side economics: give rich people a lot of money; they'll spend it, it'll go into the economy. Here's what we found out - rich people, really good at keeping all the money. That's how they got rich. If you want it in the economy, give it to the poor people. You know what they're really good at? Spending all their money.
It's time to admit that public education operates like a planned economy, a bureaucratic system in which everybody's role is spelled out in advance and there are few incentives for innovation and productivity. It's no surprise that our school system doesn't improve: It more resembles the communist economy than our own market economy.
America is now a socialist economy. The definition of a socialist economy is when 50% or more of your economy is dependent on the federal government.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
The US economy, because it's so energy wasteful, is much less efficient than either the European or Japanese economies. It takes us twice as much energy to produce a unit of GDP as it does in Europe and Japan. So, we're fundamentally less efficient and therefore less competitive, and the sooner we begin to tighten up, the better it will be for our economy and society.
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?
Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.
Middle-class economics is the simple idea that the economy performs best when the benefits of economic growth are broadly shared, not isolated to a fortunate few.
Social solidarity must rest instead on the sole secure basis it can have: direct responsibility of people for one another. Such responsibility can be realized through the principle that every able-bodied adult holds a position within the caring economy - the part of the economy in which people care for one another - as well as within the production system.
There is a central difference between the old and new economies: the old industrial economy was driven by economies of scale; the new information economy is driven by the economics of networks.
The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.
most economists, like doctors, are reluctant to make predictions, and those who make them are seldom accurate. The economy, like the human body, is a highly complex system whose workings are not thoroughly understood.
I think the first thing is to recognize a mistake that Obama made. And others have made in thinking that you can revolutionize a system that's unbelievably complex and interlinked, one-sixth of the economy. That was a mistake because whenever you change one thing, it changes 80 other things, and now if you're changing everything at once, you have no idea what the outcome is going to be and you get all of these unintended side effects.
Rogue economics is a sort of umbrella under which we find the criminal economy, the illegal economy, but also those gray areas, gray areas where there is not a proper regulation, where there is not legislation for the economy.
Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman