Economics Philosophy Quotes

We live in a global village, Neel, where billions of voices babble simultaneously, and in this village a new hierarchy is being established, a new caste-system is being created. Only this time, it is money that sets the tone. Whoever has the most money buys the biggest loudspeaker and is the neo-Brahmin of this new world order. If the ninety-year-old neo-Brahmin on the other side of the earth is terrified of antibiotic resistant flesh-eating bacteria, we must think twice before offering treatment to a twenty-four-year old here. These are the new rules of our global village.

Of valid economics pre-dating the Power Age (steam and electricity), there remains not a vestige. Of valid economics pre-dating the intensive and extensive use of electricity there will soon exist only rags and tatters. We still have to thank Adam Smith for insisting 'Consumption is the sole end and purpose of production;' but the old form of the law of demand and supply is outmoded, since supply has become practically inexhaustible.

Propounding peace and love without practical or institutional engagement is delusion, not virtue.

Give me a one-handed Economist. All my economists say 'on hand...', then 'but on the other...

African leaders should not turn the continent into a giant collector of donations and loans from wealthy nations—they must find other plausible means to help established their economic security so as to minimize poverty. This incoherent blunder on the mainland must be scrutinized.