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Quotes by Economists
China's continued growth and rising household income are creating opportunities for lower-income economies in low-cost manufacturing.
Michael Spence
Opportunities
Rising
Economies
Household
Continue
China
Low-Cost
Creating
Manufacturing
Income
Growth
Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous and resilient future.
Michael Spence
Today
Future
Face
Control
Secure
More
Developing
Over
Economies
Prosperous
Powerless
Also
Does
Moderate
Done
May
Just
Sustain
Mean
Much
Growth
Resilient
A global economy that is levering up, while unable to generate enough aggregate demand to achieve potential growth, is on a risky path.
Michael Spence
Path
Achieve
Enough
Unable
Potential
Risky
Generate
Demand
Economy
Global
Global Economy
Up
While
Aggregate
Growth
My mother was strong-willed, demanding, and very supportive all at the same time.
Michael Spence
Time
Mother
Demanding
Strong-Willed
Supportive
Very
Same
Same Time
Education is, in the end, about individual interactions and about learning.
Michael Spence
Education
Learning
About
Individual
End
Interactions
In The End
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.
Michael Spence
Time
Prosperity
Increasing
Weak
More
Long-Term
Term
Economy
Greater
Because
Always
Sake
Vested
Vested Interests
Reforms
Short
Short-Term
Interests
Require
Flexibility
Hard
Even
Growth
Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by improving human capital, encouraging technological innovation, and spurring private-sector investment by increasing returns.
Michael Spence
Innovation
Increasing
Boost
Properly
Economic
Generating
Investment
Performance
Demand
Returns
Encouraging
Targeted
Quickly
Improving
Human
Public
Capital
Much
Aggregate
Productivity
Growth
Technological
The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.
Milton Friedman
Government
Internet
Will
Important
Big
Difficult
Think
Ways
Collect
More
Most
Make
Issue
Affect
The Most Important
Which
Taxes
And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think, excuse me, if you'll pardon me, American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout?
Milton Friedman
Me
You
People
Political
Reward
Think
Virtue
Presidents
Pardon
Excuse
Does
American
Rewards
Clout
Communist
Choose
Appointed
Basis
Poverty is unnecessary.
Muhammad Yunus
Finance
Poverty
Unnecessary
The developing world is full of entrepreneurs and visionaries, who with access to education, equity and credit would play a key role in developing the economic situations in their countries.
Muhammad Yunus
Education
World
Key
Visionaries
Would
Economic
Entrepreneurs
Developing
Developing World
Countries
Access
Equity
Role
Situations
Full
Who
Play
Credit
The Grameen clinics prove that a medical system 'for the poor' can be almost entirely self-supporting, and we hope we can make it fully self sufficient so we can expand it across Bangladesh.
Muhammad Yunus
Hope
System
Entirely
Self
Almost
Make
Prove
Clinics
Self-Sufficient
Expand
Bangladesh
Poor
Across
Fully
Medical
Sufficient
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
Muhammad Yunus
Environmental
Technology
Moon
Single
Every
Enormous
Took
Say
Crisis
Given
Civilisation
Civilization
Goodbye
Debt
Going
Where
To The Moon
Then
Us
Successes
Things
Need
We have a list of human rights - right to food, right to shelter, right to health, right to education, many such items which are considered and accepted as bill of rights. These are to be insured to people. So all nations, all societies try to do that.
Muhammad Yunus
Education
Health
Food
Rights
People
Try
Human Rights
Considered
All Nations
Accepted
Shelter
Insured
Items
List
Human
Nations
Which
Bill
Bill Of Rights
Many
Right
Societies
What we are trying to do is to create a social business in Bangladesh, a joint venture to create restaurants for common people. Good, healthy food at affordable prices so that people don't have to opt for food that is unhealthy and unhygienic.
Muhammad Yunus
Good
Food
Business
People
Healthy
Restaurants
Joint
Prices
Venture
Trying
Affordable
Bangladesh
Common
Common People
Unhealthy
Social
Create
Long live Grameen Bank. Let the power of poor women prevail.
Muhammad Yunus
Prevail
Women
Long
Power
Live
Bank
Poor
Health care can be made more affordable for the poor without requiring major new scientific developments, just the smart application of current technologies. We have seen a $25 incubator and diagnostic instruments that are built tough, cheap, and reusable for the developing world.
Muhammad Yunus
Health
World
Smart
Care
Made
Seen
Tough
Incubator
More
Cheap
Developing
Developing World
Developments
New
Major
Instruments
Health Care
Without
Scientific
Built
Affordable
Current
Just
Poor
Requiring
Application
Technologies
Human beings are much bigger than just making money.
Muhammad Yunus
Money
Making
Making Money
Than
Human
Just
Human Beings
Bigger
Much
Beings
Human beings have enormous resilience.
Muhammad Yunus
Enormous
Human
Human Beings
Beings
Resilience
Money commands everything because that's our interpretation of capitalism... what kind of world is that? It's a very uncomfortable interpretation of a human being. We have been turned into robots.
Muhammad Yunus
Capitalism
Human Being
World
Money
Interpretation
Our
Everything
Kind
Uncomfortable
Because
Robots
Been
Commands
Very
Human
Being
Turned
I had no idea that I would ever get involved with something like lending money to poor people, given the circumstances in which I was working in Bangladesh.
Muhammad Yunus
People
Money
Circumstances
Would
No Idea
Something
Given
Had
Idea
Like
Involved
Get
Bangladesh
Which
Lending
Poor
Poor People
Working
Ever
I was teaching in one of the universities while the country was suffering from a severe famine. People were dying of hunger, and I felt very helpless. As an economist, I had no tool in my tool box to fix that kind of situation.
Muhammad Yunus
Suffering
People
Country
Situation
Tool
Severe
Hunger
Kind
Had
Economist
Box
Felt
Were
Very
Fix
Famine
Dying
While
Teaching
Helpless
Universities
Here we were talking about economic development, about investing billions of dollars in various programs, and I could see it wasn't billions of dollars people needed right away.
Muhammad Yunus
People
Economic Development
Programs
See
About
Various
Economic
Could
Investing
Development
Talking
Were
Dollars
Billions
Billions Of Dollars
Away
Right
Right Away
Here
Needed
I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over.
Muhammad Yunus
People
Money
Proposed
Almost
Over
Fell
Bank
Bankers
Lend
Poor
Poor People
There is the expression of selfishness and there is the expression of selflessness - but economists or theoreticians never touched that part. They said: 'Go and become a philanthropist.' I said, 'No, I can do that in the business world, create a different kind of business - a business based on selflessness.'
Muhammad Yunus
Business
World
Become
Philanthropist
Kind
Touched
Never
Part
Economists
Said
Go
Selfishness
Selflessness
Different
Different Kind
Create
Business World
Expression
Based
The moment you say microfinance everybody wants to help you.
Muhammad Yunus
You
Everybody
Say
Wants
Help
Moment
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