The important Keynesian insight is that a high propensity to save will not generate high national saving unless it goes into investment, into accumulation of real capital. The "paradox of thrift" makes this point in an extreme way. In certain circumstances, when there is no demand for investment around, the economy can be no better off, or even worse off, if a thrifty public cuts consumption.
James TobinRelated topics
accumulation capital certain consumption demand economy extreme high insight investment national off paradox point propensity public real save saving thrift way worse circumstances keynesian cutsRelated quotes
Take myself as a good-will ambassador. I'm great - I'm taking myself as a character - for the intellectuals and the man on the street. I'm great where Douglas Fairbanks, Jr. leaves off. I'm not so good with high society, in either North or South America, because I'm highly unconventional. Perhaps I bewilder people by being at once the esthete, the intellectual and the vulgarian.
Orson Welles
A state that denies its citizens their basic rights becomes a danger to its neighbors as well internal arbitrary rule will be reflected in arbitrary external relations. The suppression of public opinion, the abolition of public competition for power and its public exercise opens the way for the state power to arm itself in any way it sees fit. A state that does not hesitate to lie to its own people will not hesitate to lie to other states.
Václav Havel
Some people think love is the end of the road, and if you're lucky enough to find it, you stay there. Other people say it just becomes a cliff you drive off, but most people who've been around awhile know it's just a thing that changes day by day, and depending on how much you fight for it, you get it, or you hold on to it, or you lose it, but sometimes it's never even there in the first place.
Colum McCann
If we listened to our intellect we'd never have a love affair. We'd never have a friendship. We'd never go in business because we'd be cynical: «It's gonna go wrong.» Or «She's going to hurt me.» Or, «I've had a couple of bad love affairs, so therefore ...» Well, that's nonsense. You're going to miss life. You've got to jump off the cliff all the time and build your wings on the way down.
Ray Bradbury
What I've come to learn is that the world is never saved in grand messianic gestures, but in the simple accumulation of gentle, soft, almost invisible acts of compassion, everyday acts of compassion. In South Africa they have a phrase called ubuntu. Ubuntu comes out of a philosophy that says, the only way for me to be human is for you to reflect my humanity back at me.
Chris Abani
