The great men of a nation reach out to all mankind. They are unifying, not divisive; internationally conciliating and still great nationally.
Gustav StresemannRead
The economic position is only flourishing on the surface. Germany is in fact dancing on a volcano. If the short-term credits are called in, a large section of our economy would collapse.
Interpretation
The economic stability of Germany is deceptive, as underlying risks could lead to a significant collapse.
Gustav Stresemann's quote highlights the precarious and false sense of security in the economic landscape. While it may appear that the economy is thriving, underlying vulnerabilities exist that, if triggered, could lead to catastrophic consequences. The reference to 'dancing on a volcano' emphasizes the danger of taking risks without addressing the foundational issues that could ultimately lead to disaster.
In practice
This quote can be used in a financial seminar to discuss economic risks.
The great men of a nation reach out to all mankind. They are unifying, not divisive; internationally conciliating and still great nationally.
Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.
The budget should be balanced not by more taxes, but by reduction of follies.
It's important that we invest in America - literally. The terrorists wanted to destroy our economy, and we can't let our system fall apart. We also have to invest in one another.
We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.
For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they are provided for.
While it won't solve all the world's ills - and ideas such as a rent cap and more social housing are necessary in places where housing is scarce - a basic income would work like venture capital for the people.
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