Economic Institutions Quotes

Mexico has very solid financial institutions, with good levels of capitalism, but they’re not lending much.

There are persons who constantly clamor. They complain of oppression, speculation, and pernicious influence of wealth. They cry out loudly against all banks and corporations, and a means by which small capitalists become united in order to produce important and beneficial results. They carry on mad hostility against all established institutions. They would choke the fountain of industry and dry all streams.

States created markets. Markets require states. Neither could continue without the other, at least, in anything like the forms we would recognize today.

An elite has prospered with our kinds of institutions, but the same cannot be said of the masses.

Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics.

Much theoretical work, of course, focuses on existing economic institutions. The theorist wants to explain or forecast the economic or social outcomes that these institutions generate.

I don't think anybody really thinks that one should get rid of the World Bank. Reform is one thing, but getting rid of it I think would be wrong.

The adaptive markets hypothesis says that all economic institutions, like our own species, develop and change over time, depending on the population of investors that are engaged with them.

We have the ability now to arrange global economic institutions so that poverty declines to a fraction of what it is now.

while the modern historical school of economists appear to be only exploring the monuments of the past, they are really shaking the foundations of many of our institutions in the present.

One of the worst features of all the plans for sharing wealth and equalizing or guaranteeing incomes is that they lose sight of the conditions and institution s that are necessary to create wealth and income in the first place.

All economic and political institutions are contrivances that should serve the interests of the people. When they fail to do so, they should be replaced by something more responsive, more just, and more democratic. Marx said this, and so did Jefferson. It is a revolutionary doctrine, and very much an American one.

Industrial America always wanted to have America characterized by strong institutions.

The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the United States or in the Soviet Union, is rarely hostile to the institutions - the private business enterprise, the Communist Party - that reflect the dominant economic power. Not to notice this takes effort, although many succeed.

You need in the long run for stability, for economic growth, for jobs, as well as for financial stability, global economic institutions that make sure that growth to be sustained has to be shared, and are built on the principle that the prosperity of this world is indivisible.

The build-up of personal and collective debt in America and Europe should have sent warning signals to anyone familiar with the biblical institutions of the Sabbatical and Jubilee years, created specifically because of the danger of people being trapped by debt.

Economists have the correct insight that economics is a theory of choice, the key to the story is the variety of options and centralised political control limits the options. The best recipe is adaptive efficiency coping with novel uncertainty in a non-ergodic world, the maintenance of institutions which enable trial & error experiment to occur, and an effective means of eliminating unsuccessful solutions

The Fascist State lays claim to rule in the economic field no less than in others; it makes its action felt throughout the length and breadth of the country by means of its corporate, social, and educational institutions, and all the political, economic, and spiritual forces of the nation, organised in their respective associations, circulate within the State.

There is close to zero trust in institutions in Afghanistan. The mobile carriers have more trust than the banks.

Entranced by promises of a material paradise of limitless luxury, humanity has too long ignored the mismatch between the imperatives of our existence as living beings on a finite planet and the imperatives of the institutions of money that chart our path to the future. Created to build colonial empires in service to kings, global corporations are ill suited to the task of building just, sustainable, and compassionate civil societies that nurture sufficiency, partnership, and respect for the whole of life.

If developed countries' citizens want to feel slightly better about their economies' slow growth and high unemployment, they should contemplate how much worse matters could be without the institutions that they have.

I don't think anyone sets out to malign poor people but certainly that's what we do through organizations such as the World Trade Organization, the World Bank and the International Monetary Fund.

We have provided capital here with a couple of institutions recently. The Federal government did that in the '30s for the RFC and I think there could well be a proper role for government in that.

Free trade holds much of the blame for continued international conflict. Markets are said to possess wisdom that is somehow superior to man. Those of us in business who travel in the developing world see the results of such western wisdom and have a rumbling disquiet about much of what our economic institutions have bought into.

The government is indeed an institution, but "the market" is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his own situation and taste.