Regional Banks that are constrained to lend within a particular area are a necessary part of the institutional ecology in that they resist the centralising power of capital, allow a more stable access to credit for regional and smaller businesses and encourage relationships and reciprocity to constrain the demand for higher rates of return that have decimated the mutual bank sector in Britain. They also offer an alternative to usurious lending, one of the great growth areas in our economy. Any serious reflection on ‘employment policies' must confront the centralisation of capital and the state and seek to constrain both through the endowment of decentralised regional and sectoral institutions that constrain centralisation and preserve and renew traditions of virtue within the economy through resisting the commodification of human beings, nature and knowledge demanded by the maximum return on investment. It allows initiative and enterprise to be oriented towards the future.
Maurice Glasman, Baron GlasmanRelated topics
access alternative area bank capital credit demand economy employment endowment enterprise future great growth human initiative investment knowledge lending lend maximum mutual nature necessary offer particular power preserve reciprocity reflection regional renew resisting resist return sector seek stable state virtue banks ecology britain higher centralisation commodification ratesRelated quotes
The profit motive should not be confused with the profit system. By the profit system, of course, we mean the institution of private property in capital goods and the free private enterprise that goes along with it. There is no reason why the "profit motive" should be necessarily connected with the profit system. In a profit system there is nothing to prevent anyone acting on altruistic lines; there is no law that says a businessman must maximize his profits. If a businessman chose to operate with outputs, prices, and wages that yielded him a smaller profit than the maximum, but which he felt were socially more desirable, there is nothing in the profit system that would prevent him from doing this. Nothing in the profit system would prevent the most ardent liberal from refusing an increase in wages, or from accepting an unpleasant and poorly paid job. At the other extreme, there is nothing in a communist system that would do away with the profit motive, or the "advantage motive."
Kenneth Boulding
The Chartered ccountants by virtue of their qualifications, experience and training can render valuable services in these difficult times in areas which are vital to economic and industrial growth. It should be the duty of the members of the profession in the Northern India Regional Council, apart from examining accuracy of transactions, the modern auditor should also look into the propriety of such transactions... the profession has to develop uniform accounting principles, standard terminologies and precise definitions of various accounting concepts. This was desirable from the point of view of providing reliable information in the financial statements for the benefit of the intending investors, members of the public, government agencies and financial institutions. This will enable individuals and organisations to form a fairly accurate judgment of the financial position by a study of the audited financial statements of companies.
Fakhruddin Ali Ahmed
We must make popular government responsible for the betterment both of the individual and of society at large. Let me repeat once more that, while such responsible governmental action is an absolutely necessary thing to achieve our purpose, yet it will be worse than useless if it is not accompanied by a serious effort on the part of the individuals composing the community thus to achieve each for himself a higher standard of individual betterment, not merely material but spiritual and intellectual. In other words, our democracy depends on individual improvement just as much as upon collective effort to achieve our common social improvement. The most serious troubles of the present day are unquestionably due in large part to lack of efficient govern-mental action, and cannot be remedied without such action; but neither can any remedy permanently avail unless back of it stands a high general character of individual citizenship.
Theodore Roosevelt
I often get letters, quite frequently, from people who say how they like the programmes a lot, but I never give credit to the almighty power that created nature. To which I reply and say, "Well, it's funny that the people, when they say that this is evidence of the Almighty, always quote beautiful things. They always quote orchids and hummingbirds and butterflies and roses." But I always have to think too of a little boy sitting on the banks of a river in west Africa who has a worm boring through his eyeball, turning him blind before he's five years old. And I reply and say, "Well, presumably the God you speak about created the worm as well," and now, I find that baffling to credit a merciful God with that action. And therefore it seems to me safer to show things that I know to be truth, truthful and factual, and allow people to make up their own minds about the moralities of this thing, or indeed the theology of this thing.
David Attenborough
...it is already clear that the policies that we have been pursuing have brought about a profound cultural change in this country. That, indeed, is what it is all about. For that cultural change is the only route to the economic success that we all wish to see, and which is no longer promise but reality. No longer do people accept that economic policy should be about regulating everyone's lives and imposing penal tax rates, in the illusion that that will benefit those on lower incomes. Instead, it is now widely recognised except on the Opposition Benches that one cannot make the poor rich by making the rich poor and that there are enormous benefits in getting the state off people's backs, in transferring decision-making from the state to the people. And it is now abundantly clear that giving greater freedom and greater incentives has removed the shackles that have held back Britain for so many years and has liberated a great surge in enterprise.
Nigel Lawson
