The result of what has been said is, in general, that the wealth and power of all nations depending so much on their trade and commerce, and every nation being...in such different circumstances of advantage or disadvantage in the pursuit of this common interest; a good government, and therefore the government of a patriot king, will be directed constantly to make the most of every advantage that nature has given, or art can procure towards the improvement of trade and commerce. And this is one of the principal criterions, by which we are to judge whether governors are in the true interest of the people, or not. It results, in particular, that Great Britain might improve her wealth and power in a proportion superior to that of any nation who can be deemed her rival, if the advantages she has were as wisely cultivated, as they will be in the reign of a patriot king.
Henry St John, 1st Viscount BolingbrokeRelated topics
advantage art commerce common different disadvantage general given good government great improvement interest judge king might nation nature particular patriot people power principal proportion pursuit reign result rival say superior trade wealth circumstances britainRelated quotes
In the desperate situation of Britain today, our party needs the support of all who value the traditional ideals of Toryism: compassion, and concern for the individual and his freedom; opposition to excessive State power; the right of the enterprising, the hard-working and the thrifty to succeed and to reap the rewards of success and pass some of them on to their children; encouragement of that infinite diversity of choice that is an essential of freedom; the defence of widely-distributed private property against the Socialist State; the right of a man to work without oppression by either employer or trade union boss. There is a widespread feeling in the country that the Conservative party has not defended these ideals explicitly and toughly enough, so that Britain is set on a course towards inevitable Socialist mediocrity. That course must not only be halted, it must be reversed.
Margaret Thatcher
Rarely do we hear that Iraq has never committed any aggression against the United States. No one in the media questions our aggression against Iraq for the past 12 years by continuous bombing and imposed sanctions responsible for the deaths of hundreds of thousands of children. [...] Only tyrants can take a nation to war without the consent of the people. The planned war against Iraq without a Declaration of War is illegal. It is unwise because of many unforeseen consequences that are likely to result. It is immoral and unjust, because it has nothing to do with US security and because Iraq has not initiated aggression against us. We must understand that the American people become less secure when we risk a major conflict driven by commercial interests and not constitutionally authorized by Congress. Victory under these circumstances is always elusive, and unintended consequences are inevitable.
Ron Paul
The first economic revolution was not a revolution because it shifted man's major economic activity from hunting and gathering to settled agriculture. It was a revolution because the transition created an incentive change for mankind of fundamental proportions. The incentive change stems from the different property rights under the two systems. When common property rights over resources exist, there is little incentive for the acquisition of superior technology and learning. In contrast, exclusive property rights which reward the owners provide a direct incentive to improve efficiency and productivity, or, in more fundamental terms, to acquire more knowledge and new techniques. It is this change in incentive that explains the rapid progress made by mankind in the last 10,000 years in contrast to his slow development during the long era as a primitive hunter/gatherer.
Douglass North
The unremitting division of labour resulted in admirable levels of productivity. The company's success appeared to bear out the principles of efficiency laid down at the turn of the twentieth century by the Italian economist Vilfredo Pareto, who theorized that a society would grow wealthy to the extent that its members forfeited general knowledge in favour of fostering individual ability in narrowly constricted fields. In an ideal Paretan economy, jobs would be ever more finely subdivided to allow for the accumulation of complex skills, which would then be traded among workers. ... But however great the economic advantages of segmenting the elements of an afternoon's work into a range of forty-year-long careers, there was reason to wonder about the unintended side effects of doing so. In particular, one felt tempted to ask ... how meaningful the lives might feel as a result.
Alain de Botton
I want to make sure you keep your eyes on the ball, that is, the two basic missions of a central bank. The first is maintaining macroeconomic stability: maintaining stable growth and keeping inflation low and stable. The principal policy tool for maintaining macroeconomic stability is monetary policy. In normal times, the Fed and other central banks use open market operations-purchases and sales of securities in markets-to move interest rates up or down, and in doing so try to create a more stable macroeconomic environment.
The second part of a central bank's mission is maintaining financial stability. Central banks are focused on trying to ensure that the financial system functions properly, and in particular, they want to prevent, if possible, and if not, to mitigate the effects of a financial crisis or a financial panic.
Ben Bernanke
