Left to its own devices the market is capable of the most miraculous of inventions and the silliest of self-delusions. It is an extreme romantic. It also has a real purpose - the same one it has always had. That is to organize the supply and exchange of goods or to finance the production of goods - thus facilitating and financing the economy. But the market cannot achieve in a regular and lasting manner its own purpose because it is only an unconscious and abstract mechanism. The factor which must be added in order to create the restraint, balance, and consciousness necessary for long-term prosperity is human leadership. That leadership takes the form of effective regulation.
John Ralston SaulRelated topics
abstract factor form goods human lasting left market mechanism necessary order production prosperity purpose real regulation romantic silly thus unconscious financingRelated quotes
He had seen fire, but only when Ara, the lightning, had destroyed some great tree. That any creature of the jungle could produce the red-and-yellow fangs which devoured wood and left nothing but fine dust surprised Tarzan greatly, and why the black warrior had ruined his delicious repast by plunging it into the blighting heat was quite beyond him. Possibly Ara was a friend with whom the Archer was sharing his food.
But, be that as it may, Tarzan would not ruin good meat in any such foolish manner, so he gobbled down a great quantity of the raw flesh, burying the balance of the carcass beside the trail where he could find it upon his return.
Edgar Rice Burroughs
Thus money is almost always something hovering between a commodity and a debt-token. This is probably why coins-pieces of silver or gold that are already valuable commodities in themselves, but that, being stamped with the emblem of local authority, became even more valuable-still sit in our heads as the quintessential form of money. They most perfectly straddle the divide that defines what money is in the first place. What's more, the relation between the two was a matter of constant political conversation. In other words, the battle between state and market, between governments and merchants is not inherent to the human condition.
David Graeber
In America, the President reigns for four years, and journalism governs for ever and ever. Fortunately, in America journalism has carried its authority to the grossest and most brutal extreme. As a natural consequence it has begun to create a spirit of revolt, people are amused by it, or disgusted by it, according to their temperaments. but it is no longer the real force it was. It is not seriously treated. In England, journalism, except in a few well-known instances, not having been carried to such excesses of brutality, is still a great factor, a remarkable power. The tyranny that it proposes to exercise over people's private lives seems to me to be quite extraordinary.
Oscar Wilde
The most striking of all the impressions I have formed since I left London a month ago is of the strength of this African national consciousness. In different places it may take different forms but it is happening everywhere. The wind of change is blowing through this continent. Whether we like it or not, this growth of national consciousness is a political fact. We must all accept it as a fact. Our national policies must take account of it. This means, I would judge, that we must come to terms with it. I sincerely believe that if we cannot do so we may imperil the precarious balance between East and West on which the peace of the world depends.
Harold Macmillan
America is so big that it cries for work. In Germany, if you tried to find work, you couldn't. In America, it was a strange economy which caused unemployment. German unemployment was due to the boycott of German goods. Not an official boycott. The world market refused to accept German goods. France, England, and America refused. Germany had no colonies and she had to export manufactured goods for grain. We had nothing to speak of. We managed to live during the war by rations. We all lived on a strict ration - even ministers in the government like myself - and we lived on things from the conquered countries, including Africa and Russia.
Fritz Sauckel