In an earlier day, the rich lived at the expense of the poor, directly and unequivocally; in a modern economy, unproductive citizens increasingly live at the expense of productive ones-though in an equivocal way, since they are told, and believe, that they are disadvantaged and deserve more still. Today, in fact, a good half of the population of every modern nation is made up of people with little or no income, who are exempt from taxes and live, to a large extent, off the other half of the population, which pays taxes. If such a situation were to be radicalized, it could give rise to massive social conflict. The eminently plausible free-market thesis of exploitation by the unproductive would then have prevailed over the much less promising socialist thesis of the exploitation of labor by capital.
Peter SloterdijkRelated topics
believe day early equivocal exempt expense good half labor large less live nation off poor promising rich rise situation socialist tax tell thesis way todayRelated quotes
If my history lesson has done nothing else, it should have reminded you that, during any given period in the evolving history of physics, the prevailing, main line, climate of opinion was likely as not to be wrong, as seen in the light of later developments. And yet, in those earlier times, with relatively few individuals involved, change did occur, but slowly... What is fundamentally different in the present day situation in high energy physics is that large numbers of workers are involved, with corresponding pressures to conformity and resistance to any deflection in direction of the main stream, and that the time scale of one scientific generation is much too long for the rapid pace of experimental discovery. I also have a secret fear that new generations may not necessarily have the opportunity to become familiar with dissident ideas.
Julian Schwinger
The Negro voter ... had, then, but one clear economic ideal and that was his demand for land, his demand that the great plantations be subdivided and given to him as his right. This was a perfectly fair and natural demand and ought to have been an integral part of Emancipation. To emancipate four million laborers whose labor had been owned, and separate them from the land upon which they had worked for nearly two and a half centuries, was an operation such as no modern country had for a moment attempted or contemplated. The German and English and French serf, the Italian and Russian serf, were, on emancipation, given definite rights in the land. Only the American Negro slave was emancipated without such rights and in the end this spelled for him the continuation of slavery.
W. E. B. Du Bois
I find it amazing now that my first economics class, taught by Alan Sweezy, used John Maynard Keynes's General Theory of Income and Employment as the textbook. Although this book is one of the most influential works of the twentieth century, it makes a really lousy textbook. Moreover, since I now regard Keynes's analysis as seriously flawed, it is surprising that I enjoyed the course so much. As a student, I appreciated the simple way that the Keynesian model explained the workings and failings of the overall economy. Especially appealing were the clever policy remedies, such as increased government spending and tax cuts, that Keynes recommended to combat unemployment. Too bad that I discovered later that the model was theoretically and empirically deficient!
Robert Barro
A final aspect of all open access orders is Schumpeter's notion of creative destruction, one of the most powerful descriptions of a competitive, open access economy. When Schumpeter wrote Capitalism, Socialism, and Democracy in the early 1940s, the economic theory of perfect competition among atomistic firms (i. e., firms too small to have market power) had come under sustained attack as unrealistic. Large and powerful economic organizations dominated the new economy, and their behavior did not match the textbooks. Despite this dominance, the economy produced historically unprecedented, sustained economic development. Schumpeter asked, How could large businesses that were supposed to choke off competition and growth nonetheless generate such spectacular productivity increases in a world that seemed ever more competitive?
Douglass North
I know what Dan Quayle means when he says it's best for children to have two parents. You bet it is! And it would be nice for them to have trust funds, too. We can't all be born rich and handsome and lucky. And that's why we have a Democratic Party. My family would still be isolated and destitute if we had not had F. D. R.'s Democratic brand of government. I made it because Franklin Delano Roosevelt energized this nation. I made it because Harry Truman fought for working families like mine. I made it because John Kennedy's rising tide lifted even our tiny boat. I made it because Lyndon Johnson showed America that people who were born poor didn't have to die poor. And I made it because a man with whom I served in the Georgia Senate, a man named Jimmy Carter, brought honesty and decency and integrity to public service.
Zell Miller