Rafael Correa Quotes

Capitalism is in crisis.

The dominant economic approach of the last thirty years is now on its last legs. Letting the market rip and an indifference to inequality are now seen as important causes of the greatest economic crash since the 1930s.

I think when the bottom started to drop out, we didn't recognize it.

I'd be kidding if I said that I predicted the financial collapse.

Economic and financial crisis are getting much more usual, and they are not confined to a given country but they immediately spread all over the world, and you have to be prepared for that.

The upward economic movement in America has undoubtedly reached its end – the crisis has come.

It’s hard to be a fan of the free market these days when the free market has just driven the economy over the cliff.

Last year, in the year 2008, it just became normal to watch great American institutions crumble, almost dissolve like sand.

The crisis is the price for the capitalist system

You can tell that the capitalist system is in trouble when people start talking about capitalism.

What we have been living for three decades is frontier capitalism, with the frontier constantly shifting location from crisis to crisis, moving on as soon as the law catches up.

We start this new year in the midst of an economic crisis unlike we have seen in our lifetime.

The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.

The '90s and early 2000s were the 'I' decade. iPhone, the iPod - everything was about me. Look where that got us? In a terrible recession.

From the peak in 2007 to the trough in 2009, Americans lost $11 trillion of net worth for households and businesses.

The collapse of the housing bubble sent the world spiraling into recession. The collapse of the energy and commodity bubble threatens to be just as damaging.

We do not want socialism.

A serious dose of unemployment and a spate of bank failures can make the unelectable electable quite quickly.

It seems evident that the IMF has learned nothing from its inequality-inducing policies during the 1980s debt crises in Latin America nor from its recession-deepening response to the East Asian crisis of the late 1990s. In both regions, the IMF has become synonymous with making bad situations worse.

Under capitalism everybody is the architect of his own fortune.

Capitalism has destroyed our belief in any effective power but that of self interest backed by force. But even Capitalist cynicism will admit that however unconscionable we may be when our own interests are affected, we can be most indignantly virtuous at the expense of others.

The global crisis is caused by pathologies inherent in the global financial system itself.

It's no accident that capitalism has brought with it progress, not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.

It's the deleveraging that's going on right now that has caused the credit crisis.

Marxists have more than once pointed out that the capitalist world economic system contains in itself the seeds of a general crisis and of warlike clashes.