Our economy is the result of millions of decisions we all make every day about producing, earning, saving, investing, and spending.
Interpretation
The economy is shaped by the daily choices of individuals regarding their finances.
This quote by Dwight D. Eisenhower emphasizes that the economic system is not solely the result of government policies or corporate decisions but rather is built on the collective actions of millions of individuals. Every decision we make—whether it relates to producing goods, earning income, saving money, investing wisely, or spending our resources—plays a crucial role in shaping the economy as a whole.
In practice
In a classroom setting discussing economic principles.
If a man's associates find him guilty of being phony, if they find that he lacks forthright integrity, he will fail. His teachings and actions must square with each other. The first great need, therefore, is integrity and high purpose.
The libraries of America are and must ever remain the home of free and inquiring minds. To them, our citizens-of all ages and races, of all creeds and persuasions-must be able to turn with clear confidence that there they can freely seek the whole truth, unvarnished by fashion and uncompromised by expediency.
You don't lead by hitting people over the head - that's assault, not leadership.
When pressure mounts and strain increases everyone begins to show the weaknesses in his makeup. It is up to the Commander to conceal his: above all to conceal doubt, fear, and distrust.
Some years ago I became president of Columbia University and learned within 24 hours to be ready to speak at the drop of a hat, and I learned something more, the trustees were expected to be ready to speak at the passing of the hat.
I hate war as only a soldier who has lived it can, only as one who has seen its brutality, its futility, its stupidity.
I think one of the most important facts of basic income would be that it's not only a redistribution of income, but also of power. So the cleaners and bin men would have a lot more bargaining power.
European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries.
Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.
How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Economic policies absorb almost the entire attention of government, and at the same time become ever more impotent. The simplest things, which only fifty years ago one could do without difficulty, cannot get done any more. The richer a society, the more impossible it become to do worthwhile things without immediate payoff.
Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.
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