Economics

"We’ve been saturated with cultural images and a kind of cultural deification of wealth and those who have wealth. They present people of immense wealth as somehow leaders, oracles even. We don’t grasp internally what an oligarchic class is finally about, or how venal and morally bankrupt they are. We need to recover the language of class warfare to grasp what is happening to us. And we need to shatter this that somehow if, as Obama says, we work hard enough and study hard enough, we can be one of them."

"Many economists would have you believe that their field is an objective science. I disagree, and I think that it is equally a tool that humans use to enforce and encode our social and moral preferences and prejudices about status and power, which is why plutocrats like me have always needed to find persuasive stories to tell everyone else about why our relative positions are morally righteous and good for everyone, like: we are indispensable, the job creators, and you are not; like, tax cuts for us create growth, but investments in you will balloon our debt and bankrupt our great country; that we matter; that you don't. For thousands of years, these stories were called divine right. Today, we have trickle-down economics. How obviously, transparently self-serving all of this is. We plutocrats need to see that the United States of America made us, not the other way around; that a thriving middle class is the source of prosperity in capitalist economies, not a consequence of it."

"The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense. So can we please dispense with this rhetoric that says that rich guys like me and my plutocrat friends made our country?"

"If wealth, power, and income continue to concentrate at the very tippy top, our society will change from a capitalist democracy to a neo-feudalist rentier society like 18th-century France. That was France before the revolution and the mobs with the pitchforks."

"Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline. A progressive and meaningful is needed to curb the movement of a democracy toward plutocracy."

"Decades after Depression-era reforms, Wall Street fought successfully to deregulate the , paving the way for the 2008 financial crash that caused millions to lose their homes and livelihoods. And the ultra-rich and big corporations have also managed to dominate our campaign finance system, making it easier for them to buy off politicians who commit to rigging the rules against the poor and the environment, and to suppress voting rights, making it harder for the poor to fight back. … Key to these rollbacks: controlling the narrative about who is poor in America and the world. It is in the interest of the greedy and the powerful to perpetuate myths of deservedness—that they deserve their wealth and power because they are smarter and work harder, while the poor deserve to be poor because they are lazy and intellectually inferior. It’s also in their interest to perpetuate the myth that the poverty problem has largely been solved and so we needn’t worry about the rich getting richer—even while our real is full of gaping holes. This myth has been reinforced by our deeply flawed official measurements of poverty and economic hardship. The way the U.S. government counts who is poor and who is not, frankly, is a sixty-year-old mess that doesn’t tell us what we need to know. It’s an inflation-adjusted measure of the cost of a basket of food in 1955 relative to household income, adjusted for family size—and it’s still the way we today."

"The United States is the wealthiest nation in the history of the world, yet millions of American families have had to set up crowdfunding sites to try to raise money for their loved ones’ medical bills. Millions more can buy unleaded gasoline for their car, but they can’t get unleaded water in their homes. Almost half of America’s workers—whether in or , California or —work for less than a . And as school buildings in poor communities crumble for lack of investment, America’s billionaires are paying a lower tax rate than the poorest half of households. This moral crisis is coming to a head as the coronavirus pandemic lays bare America’s deep injustices. … The underlying disease, in other words, is poverty, which was killing nearly 700 of us every day in the world’s wealthiest country, long before anyone had heard of COVID-19. The moral crisis of poverty amid vast wealth is inseparable from the injustice of systemic racism, ecological devastation, and our militarized war economy. It is only a minority rule sustained by voter suppression and gerrymandering that subverts the will of the people. To redeem the soul of America—and survive a pandemic—we must have a moral fusion movement that cuts across race, gender, class, and cultural divides."

"When a firm makes a profit this means that productive factors have been properly employed and corresponding human needs have been duly satisfied."

"For the corporation executives, the military metaphysic … often coincides with their interest in a stable and planned flow of profit; it enables them to have their risk underwritten by public money; it enables them reasonably to expect that they can exploit for private profit now and later, the risky research developments paid for by public money. It is, in brief, a mask of the subsidized capitalism from which they extract profit and upon which their power is based."

"I'm convinced that if we are to get on the right side of the world revolution, we as a nation must undergo a radical revolution of values. We must rapidly begin the shift from a thing-oriented society to a person-oriented society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, militarism and economic exploitation are incapable of being conquered."

"For what shall it profit a man, if he gain the whole world, but suffer the loss of his soul?"

"Reflective apologists for war at the present day all take it religiously. It is a sort of sacrament. It's profits are to the vanquished as well as to the victor; and quite apart from any question of profit, it is an absolute good, we are told, for it is human nature at its highest dynamic."

"The thing we must do intensely is be human together. People are more important than things. We must get together. The best thing humans can have going for them is each other. We have each other. We must reject everything which humiliates us. Humans are not objects of consumption. We must develop an absolute priority of humans ahead of profit — any humans ahead of any profit. Then we will survive. … Together."

"What the English call “comfortable” is something endless and inexhaustible. Every condition of comfort reveals in turn its discomfort, and these discoveries go on for ever. Hence the new want is not so much a want of those who have it directly, but is created by those who hope to make profit from it."

"He is like all the rest: a slave to profit, a master only to his bent for negotiating the best deal."

"… actions whose motives he cannot understand—that is, actions not prompted by the hope of profit."

"The promise of every product and service is a better life. Profits are the prize for delivering on the promise."

"We may add that focus on maximizing profits is also "not always consistent" with the hope for "the survival of humanity," to borrow the phrase of a leaked memo from , [the U.S.’s] largest bank, warning that "the survival of humanity" is at risk on our current course, including the bank's own investments in fossil fuels. Thus, canceled a profitable sustainable energy project because there’s more profit to be made in destroying life on Earth. ExxonMobil refrained from doing so, because [it] had never opened such a project in the first place, having made more rational calculations of profitability. And rightly so, according to neoliberal doctrine. As Milton Friedman and other neoliberal luminaries have instructed us, the task of corporate managers is to maximize profits. Any deviation from this moral obligation would shatter the foundations of "civilized life.""

"Market signals were clear: There’s no profit in preventing a future catastrophe."

"The infinite, absolute character of Virtue has passed into a finite, conditional one; it is no longer a worship of the Beautiful and Good; but a calculation of the Profitable."

"There are some sordid minds, formed of slime and filth, to whom interest and gain are what glory and virtue are to superior souls; they feel no other pleasure but to acquire money."

"O proud philanthropist, your hope is vain"

"If vices were profitable, the virtuous man would be the sinner."

"Private property … has led Individualism entirely astray. It has made gain not growth its aim. So that man thought that the important thing was to have, and did not know that the important thing is to be. The true perfection of man lies, not in what man has, but in what man is."

"In aristocracies, it is not precisely work that is scorned, but work with a view to profit. Work is glorious when ambition or virtue alone makes one undertake it. … The idea of gain remains distinct from that of work. No matter that they are joined in fact. … In democratic societies, these two ideas are, on the contrary, always visibly united."

"Spend time on excellence, and love the right, And don’t let shameful profit master you."

"Whoever has a keen eye for profits, is blind in relation to his craft."

"Cui prodest scelus, is fecit."

"When by habit a man cometh to have a bargaining soul, its wings are cut, so that it can never soar. It bindeth reason an apprentice to gain, and instead of a director, maketh it a drudge."

"For the words of the profits were written on the studio wall"

"Such is the fate of everyone who goes in search of profit; it takes away the life of its owners."

"The love of gain, which is a large, incalculably large, element in every soul, when once applied to the desire for God, will bless the man who has it."

"It is no longer economy aiming at individual profit, but economy concerned with collective interest."

"I don't think that corporations are these big bogeymen that a lot of people paint them to be. … A corporation is a group of people, and if you want to come together for profit or nonprofit, that's your business—whatever you want to do."

"Copyright law cases typically involve multifactorial analyses and lots of nuance. I would not assume that a commercial book publisher's use of "Seinfeld" quotes necessarily tells us anything about a non-commercial reference's use of quotations. Many people believe that copyright jurisprudence gives clear and obvious guidance about how one should use copyrighted materials in future cases. My experience has been, however, that this belief is mistaken."

"Those who invade copyright are regarded as knaves who take the bread out of the mouths of deserving men. Everybody is well pleased to see them restrained by the law, and compelled to refund their ill-gotten gains. No tradesman of good repute will have anything to do with such disgraceful transactions. Pass this law: and that feeling is at an end. Men very different from the present race of piratical booksellers will soon infringe this intolerable monopoly. Great masses of capital will be constantly employed in the violation of the law. Every art will be employed to evade legal pursuit; and the whole nation will be in the plot [...] Remember too that, when once it ceases to be considered as wrong and discreditable to invade literary property, no person can say where the invasion will stop. The public seldom makes nice distinctions. The wholesome copyright which now exists will share in the disgrace and danger of the new copyright which you are about to create. And you will find that, in attempting to impose unreasonable restraints on the reprinting of the works of the dead, you have, to a great extent, annulled those restraints which now prevent men from pillaging and defrauding the living."

"Discussion. In this case, the Court abandoned the strict common law rules of appropriation. The viewer of the ad could clearly see that it was an attempt to convey Plaintiff on the set of Wheel of Fortune. Defendant hoped to profit from Plaintiff’s fame without paying her for it. Because Plaintiff did not consent to such appropriation, Defendant is liable."

"Only one thing is impossible for God: to find any sense in any copyright law on the planet."

"Dissent. (J. Kozinski) Overprotecting intellectual property is as harmful as under protecting it. Creativity is impossible without a rich public domain. Nothing today, likely nothing since we tamed fire, grows by accretion, each new creator building on the works of those who came before. Overprotection stifles the very creative forces it’s supposed to nurture."

"Things have been going in the wrong direction -- more surveillance, more control of everything we do on the net and also stricter copyright laws -- that's the wrong course for Europe. We want to set a new one."

"Defendant used a robot with mechanical features and not, for example, a manikin molded to Plaintiff’s precise features. The robot at issue was not Plaintiff’s “likeness” within the meaning of section 3344."

"When you shut down neurons to prevent them from transmitting signals, we call that "brain damage." Copyright is brain damage. It's brain damage in the great mind, and it's brain damage in the individual mind."

"In ten years I think the [copyright] laws are going to be worse and I also think they are going to be less relevant. I mean, already the difference between the laws and people's behaviour, It's like they're different planets. I'm not hopeful for the laws changing. A lot of other people are, so maybe we will have meaningful copyright reform. I doubt it. I don't think it matters. I think the tools are available for people to create and share culture and they're going to do that and they might be doing it illegally and at a certain point it's going to be more than the system can handle. I will say that if the power structure as it exists wants to continue they're going to have to reform because it's not sustainable. Copyright law as it is, it's just completely out of touch with human behaviour."

"Copyright is monopoly, and produces all the effects which the general voice of mankind attributes to monopoly [...] It is good that authors should be remunerated; and the least exceptionable way of remunerating them is by a monopoly. Yet monopoly is an evil. For the sake of the good we must submit to the evil; but the evil ought not to last a day longer than is necessary for the purpose of securing the good."

"Mimi: Silencing you because I don’t like what you say is censorship. Silencing you because I can make more money that way is copyright. They’re totally different! Eunice: The profit motive makes it OK."

"The corporations that hold these copyrights are media companies that also control most of the new media that comes out. Estimates vary, but it's said that 98 percent of all culture is unavailable right now because of copyrights. So the reason they hold the copyrights isn't because they want to get paid, it's because they don't want all the old stuff competing with the media stream that they control now."

"If creativity is the field, copyright is the fence"

"If nature has made any one thing less susceptible than all others of exclusive property, it is the action of the thinking power called an idea, which an individual may exclusively possess as long as he keeps it to himself; but the moment it is divulged, it forces itself into the possession of everyone, and the receiver cannot dispossess himself of it. Its peculiar character, too, is that no one possesses the less, because every other possesses the whole of it. He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me. That ideas should freely spread from one to another over the globe, for the moral and mutual instruction of man, and improvement of his condition, seems to have been peculiarly and benevolently designed by nature, when she made them, like fire, expansible over all space, without lessening their density at any point, and like the air in which we breathe, move, and have our physical being, incapable of confinement or exclusive appropriation. Inventions then cannot, in nature, be a subject of property."

"I was in the pub last night, and a guy asked me for a light for his cigarette. I suddenly realised that there was a demand here and money to be made, and so I agreed to light his cigarette for 10 pence, but I didn't actually give him a light, I sold him a license to burn his cigarette. My fire-license restricted him from giving the light to anybody else, after all, that fire was my property. He was drunk, and dismissing me as a loony, but accepted my fire (and by implication the licence which governed its use) anyway. Of course in a matter of minutes I noticed a friend of his asking him for a light and to my outrage he gave his cigarette to his friend and pirated my fire! I was furious, I started to make my way over to that side of the bar but to my added horror his friend then started to light other people's cigarettes left, right, and centre! Before long that whole side of the bar was enjoying MY fire without paying me anything. Enraged I went from person to person grabbing their cigarettes from their hands, throwing them to the ground, and stamping on them. Strangely the door staff exhibited no respect for my property rights as they threw me out the door."

"Real learning comes about when the competitive spirit has ceased. The competitive spirit is merely an additive process which is not learning at all. We want the child to learn and not merely add knowledge to himself like a machine. To help the child to learn basically and fundamentally he must cease to compete, with all its implications... Competitiveness is destructive not only in the classroom but right through life."