The past 10 days have been 'the most dramatic in Wall Street's 216-year history' seeing Lehman Brothers collapse, AIG fall into critical distress, and the US Federal Reserve creating a c. US$1 Trillion rescue plan to 'save the world'.
— Kenneth Murray“In a peculiar way, failure can sometimes be simpler to grapple with. You can simply resist it, dismiss it with a defiant 'to hell with this, to hell with them', and return to square one. Conversely, success can be considerably more subtle and insidious. While initially thrilling, relieving, and intoxicating, it can harbor a profound hollowness, which makes it more challenging and bewildering to confront.”— Andrew McCarthy
Actor known for 1980s films like "St. Elmo's Fire
The quote archive
Economics
A growing archive of 3,000+ moments, drawn from every interview.
While many investors were caught in this crisis, the leading economists in the world saw it coming.
— Kenneth MurrayMonetary support for development in itself will not accelerate growth in the real economy to artificial or unsustainable levels. It is how the finance is used – or misused.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
The artificiality and unsustainability comes in when loans are made to customers who cannot repay those loans, and without sufficient regulatory control.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
Consider for instance that the bulk of the world's foreign exchange reserves – trillions of dollars – are held by developing economies, and that the US runs a current account and budget deficit of astronomical proportions.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
The essence of the evolving global economic system is that all countries are dependent on one another in some way, and this includes finance. Emerging and developing countries are dependent on capital inflows from developed regions. But developed regions are also dependent on funds from the developing world!
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
Modern society, specifically the modern economy, is very mobile. Our friendships and social networks become very quickly dispersed. At any one time, we build friendships and relationships with people and, for example, due to work, move on.
— Robin DunbarEvolutionary Psychologist Known for Dunbar's Number Theory
The price of technology comes down every year, year after year, and I see no immediate end in sight to that process. What this means is that the poorest people in the world will soon have the possibility to access the Internet in some form, and eventually will have 'ordinary' access to it.
— Jimmy WalesCo-Founder of Wikipedia & Online Encyclopedia Pioneer
With participatory culture, economics dictates that we pour more resources into building an infrastructure platform that anyone can use, so most resources go into empowering 'the long tail'. Small groups of people can come together and make use of a powerful infrastructure to enable them to pursue their own passions and interests, without regard for popularity.
— Jimmy WalesCo-Founder of Wikipedia & Online Encyclopedia Pioneer
Concepts like democracy and human rights will always remain fairly abstract if you cannot feed your family. It is therefore important to ensure that job creation, and protecting livelihoods occurs early on in the process.
— Kristiina RintakoskiUnknown.
Over 70% of the labour force in sub-Saharan Africa is involved in agriculture. This means the sector forms a lynch-pin of society.
— Susan PayneUnknown.
Africa is an enormous continent, larger than the US, China and Europe combined. It represents 20% of the global land mass, and only 10% of the world's population. It offers an un-crowded space of opportunities including minerals, natural resources, water and agriculture.
— Susan PayneUnknown.
Over half the sub-Saharan African population is under 18 years old, versus Latin America, where over half the population is under 25 years old and Asia, where it is under 35 years old. These EM populations are young, expansive and dynamic.
— Susan PayneUnknown.
Globally, we have neglected this topic [agriculture] for decades. We have, worldwide, over a billion undernourished people. Food prices have risen over the past few years, with our own research showing these should accelerate up from 2010.
— Susan PayneUnknown.
The role of the dollar rests on many other things, not just economics. There is a reason why the likes of Alfred Smith, and Karl Marx studied politics and not economics.
— Marc ChandlerChief Strategist & Senior Currency Strategist at Bannockburn Global Forex
I would suggest that most dollar problems are cyclical, and when the fed reserve raises interest rates, and the business cycle re-enters an upswing, there will be many reasons to buy dollar.
— Marc ChandlerChief Strategist & Senior Currency Strategist at Bannockburn Global Forex