Economic Shift Quotes

It is a fact worth pondering that four centuries ago the evil of "an abundance or surplus" arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.

I am fully aware of the concept of political revolutions. After all, that is what we hoped might happen in the U.S.S.R. and Eastern Europe, but what actually happened was capitalist restoration.

This country has been economically successful because of cheap energy and cheap labor and we are never going to have these again.

In 200 years when the United States will get all that it can from protectionism, it too will adopt free trade.

You’re going to have some very amazing capabilities in the economy. When we have computers that can do more and more jobs, it’s going to change how we think about work. There’s no way around that. You can’t wish it away.

Modern ingenuity has made it possible for a child to run some of the machines and the child will get the job while the men must tramp.

One class did not overthrow another; the poor did not supplant the rich. But social relationships—the way people were connected one to another—were changed and decisively so.

There was a time when you could make a living by the sweat of your brow. Those days are over!

Poor is the new black.

But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.

Nations are liable to various revolutions in the state of their minds, and extent of their knowledge, as well as in their power and wealth ….

1900 was a bit of mixed bag, it seems to me, on the one hand, because this is the year when this country becomes the premiere producer of manufactured goods. Clearly, a lot of people were making a lot of money, but it's also a time that reflects the savaging of one of the deepest depressions.

Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.

The invisibility of work and workers in the digital age is as consequential as the rise of the assembly line and, later, the service economy.

… public spirit became private spirit, public enterprise became private greed.

Unquestionably, there is progress. The average American now pays out twice as much in taxes as he formerly got in wages.

Globally, manufacturing jobs are on the decline, simply because productivity growth has outpaced growth in demand.

For the first time since the 15th century, China is becoming a major economic power.

America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.

When my family first moved to Hempstead in the 1960s, they were one of the first black families. It used to be an all-white neighborhood, but there was white flight when the black people with money started moving in. When I was, like, 13 or 14, Hempstead had just become all black, and the poverty became worse and worse.

Now, although my life is still pleasant, the days of easy money are over.

The economy of tomorrow is unlikely to look much like that of yesterday.

Only the Russian Revolution really opened a window to the future; the fall of Czarism brought a glimpse of it, and with the collapse of capitalism it appeared in full view.

Rarely have Americans lived through so much change, in so many ways, in so short a time. Quietly, but with gathering force, the ground has shifted beneath our feet as we have moved into an Information Age, a global economy, a truly new world.

Industrialization came to England but has since left.