There are few genuine conservatives within the U.S. political system, and it is a sign of the intellectual corruption of the age that the honorable term 'conservatism' can be appropriated to disguise the advocacy of a powerful, lawless, aggressive and violent state, a welfare state for the rich dedicated to a lunatic form of Keynesian economic intervention that enhances state and private power while mortgaging the country's future.
Noam ChomskyTags: politics economics united-states law violence intellectuals conservatism aggression politics-of-the-united-states keynesianism welfare-states
Thirty years ago [written 2009], over-regulation, over-taxation, mis-regulation, statism, state corporatism, and economic folly, cosiness and regulatory capture, and a crescent ideological enemy without, who were assisted by enemies – both fifth columnists and useful fools – within, had led to a crisis of confidence in the West, and in all lands that – and amongst all peoples, particularly those who were oppressed in their own lands, who – loved and desired liberty. Of course, thirty years ago, Britain had Margaret Thatcher to turn to.
G.M.W. WemyssTags: politics economics margaret-thatcher uk-politics
The American share of the crisis began with grossly improper mortgages provided to wholly unqualified borrowers, all directly caused and encouraged by government distortion of and interference in the market. The government’s market deformation and market intervention was in turn the result of two factors: political favouritism and Leftist ideology, on the one hand; and upon the other, corruption: the blatant cooption of such Friends of Angelo as Mr Dodd and of such bien-pensant Lefties as Mr Frank. The stability and efficiency of any market is directly proportional to the amount and trustworthiness of market information. The Yank Congress, for blatantly partisan and ideological reasons, gave out false information to the market, pushing lenders into making bad loans and giving out, with the appropriate winks and nudges, that Fannie (will Americans ever realise how that sounds) and Freddie, imperfectly quangoised, were ‘really just as good as the Treasury’ and were in any case ‘too big to [be let] fail’: which, as it happens, was untrue. Similarly, this moronic mantra of ‘too big to fail’ was chanted desperately and loudly to drown out the warning sounds of various financial institutions on the brink and of the automobile industry. Incomprehensible sums of public money were thrown at these corporations so that they could avoid bankruptcy, and have succeeded only in privatising profit whilst socialising risk.
G.M.W. WemyssTags: economics economic-collapse global-economic-crisis
Consider the recent financial crisis and its link to faulty reward systems. President Bill Clinton's objective of increasing homeownership by rewarding potential home buyers and lenders is one example. The Clinton administration "went to ridiculous lengths" to increase homeownership in the United State, promoting "paper-thin down payments" and pushing lenders to give mortgage loans to unqualified buyers according to Business Week editor Peter Coy.
Max H. BazermanTags: ethics economics blind-spots housing-bubble
Just as the church needs members with different skills, our world must have various forms of labor, interdependent and thus valuable. A world full of ministers would be without churches, bread for the Lord's Supper, and printed Bibles to read.
R.C. Sproul Jr.Tags: christianity economics theology ministers bibles
[Economics] is all about observing the world with genuine curiosity and admitting that it is full of mysteries
Steven E. LandsburgTags: economics
When we must pay the true price for the depletion of nature’s gifts, materials will become more precious to us, and economic logic will reinforce, and not contradict, our heart’s desire to treat the world with reverence and, when we receive nature’s gifts, to use them well.
Charles EisensteinTags: money philosophy nature change economics ecology gifts social-change gaia gift-giving the-earth charles-eisenstein
Savings, remember, is the prerequisite of investment.
Campbell R. McConnellTags: economics savings investment
... economists recognize that, other things equal, cuts in tax rates reduce tax revenues in percentage terms by less than the tax-rate reductions. Similarly, tax-rate increases do not raise tax revenues by as much in percentage terms as the tax-rate increases. This is true because changes in marginal tax rates alter taxpayer behavior and thus affect taxable income.
Campbell R. McConnellSuckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending
Nassim Nicholas TalebTags: economics bankers recession finance experts recessions banking expertise
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