A Quote by Theodore Schultz
Most of the people in the world are poor, so if we knew the economics of being poor, we would know much of the economics that really matters. Most of the world's poor people earn their living from agriculture, so if we knew the economics of agriculture, we would know much of the economics of being poor.
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I began my career as an economics professor but became frustrated because the economic theories I taught in the classroom didn't have any meaning in the lives of poor people I saw all around me. I decided to turn away from the textbooks and discover the real-life economics of a poor person's existence.
I am practical by nature, and I'd heard that being a writer or an artist is a good way to starve! So I was an economics major at Oklahoma State, and then received an M.S. from Cornell in Agricultural Resource and Managerial Economics. I knew if I wanted to write I would do it on my own, but I knew I wouldn't make myself study economics on my own.
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.
The world does not have time to be with the poor, to learn with the poor, to listen to the poor. To listen to the poor is an exercise of great discipline, but such listening surely is what is required if charity is not to become a hatred of the poor for being poor.
We live in a world where corporates are trying to prove that water is a commodity. The economics of this world is inclined towards creating a divide between rich and poor, and religion is the most convenient tool.
It isn't the rich people's fault that poor people are poor. Poor people who get an education and work hard in this country will stop being poor. That should be the goal for all poor people everywhere.
It's well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.
My response [to fear of being poor]was to study contracts, finance, economics, to plan, to have a goal, to work on that goal. To learn everything I could. I always poked at the things that scared me most.
Being Black and poor is, I think, radically different from being anything else and poor. Poor, to most Blacks, is a state of mind. Those who accept it are poor; those who struggle are middle class.
If the "rich" were swarming into poor neighborhoods and beating the poor until they coughed up the dimes they swallowed for safekeeping, yes, this would be a transfer of income from the poor to the rich. But allowing taxpayers to keep more of their money does not qualify as taking it from the poor - unless you believe that the poor have a moral claim to the money other people earn.
America is divided by economics, and we as Americans, we've got to do a better job of supporting poor people.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
It is easy to say that there are the rich and the poor, and so something should be done. But in history, there are always the rich and the poor. If the poor were not as poor, we would still call them the poor. I mean, whoever has less can be called the poor. You will always have the 10% that have less and the 10% that have the most.
In terms of the economics, yes obviously the rise of e-books and how people choose to read books has a big effect on the economics of the game. But whether people are buying them on paper or downloading them there's still some poor wretch in a room who is trying to write a poem, write a story, write a novel. And so my job doesn't change. It's just how people receive it and economic conditions on the ground change, but that doesn't affect what I write.
I was pretty poor for a long time. Not *poor* poor. But college student poor. I lived for most of my adult life living on student wages, then after I got my MA and started teaching, I lived on teacher's wages, which isn't much better.
This is a guy [Steven Lerner] who believes, for example, that Reaganomics or trickle-down economics means, "The rich got rich by stealing from the poor," or stealing from the middle class and making them poor via debt. He has worked with unions in Europe.
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