The last quarter century of globalisation has utterly transformed how our markets and nations do business. With that in mind, we have to appreciate that our economies not only provide profound benefits and wealth-creation opportunities, but also hold very real (and untended) existential threats to the livelihoods of billions of citizens.
— Unknown“For years, one group of Americans has worked as foot-soldiers for the most authoritarian regimes around the planet. In the process, they've not only entrenched dictatorships and spread kleptocratic networks, but they've secretly guided U.S. policy without the rest of America even being aware.”— Casey Michel
The quote archive
Economics
A growing archive of 3,000+ moments, drawn from every interview.
We can see, therefore, that sovereign debt has a systemically important role in the stability of the global economy, the economies of individual states and even the very peace of a country. To be able to then treat this as a market instrument- while appropriate at a time when capital flows were gentile and considered- is clearly not when we can write $2 trillion or more from an entire economy in a matter of seconds.
— UnknownLike everyone, investors get hurt by the implicit loss of purchasing power of each dollar inflation implies. However that is only the tip of the iceberg, as this loss is likely to be compounded by the tendency for traditional investments to suffer additional erosion.
— John BrynjolfssonUnknown.
Stock prices suffer a one-two punch. Rising raw material prices tends to compress margins or earnings, and rising interest rates tend to compress p/e ratios, as earnings yield must compete with interest rates.
— John BrynjolfssonUnknown.
Firstly, inflation is always and everywhere a monetary phenomena. Secondly, the Phillips curve is dead and buried. US employment, and domestic measures of capacity utilization didn't even work 40 years ago! We stuck a stake in the heart of such measures about 15 years ago.
— John BrynjolfssonUnknown.
Today away from monetary policy, global factors drive inflation, and for tangible goods emerging market drivers are key. We note commodity consumption per unit of GDP explodes as per capita income rises from $3000/yr into the $5000 to $15000 bracket.
— John BrynjolfssonUnknown.
The absolute focus must be on reducing inequality. This means creating strategies which provide economic opportunity - investing in industries that provide employment rather than profit, investing in education, and providing a fairer deal for those who form the labour force.
— Filipe CampanteUnknown.
Crime, for those living in poverty, can become a business. Much like any other capitalist enterprise, their business further exacerbates inequality in society. The poor feel aggrieved by inequality - they exist in a world where they are disproportionately unrewarded for their input into the economy.
— Filipe CampanteUnknown.
Crime itself can increase inequality. A doubling in crime increases the Gini coefficient by 3% to 4%. When crime increases twofold the share of the rich tercile drops by 1.3%, and the share of the population in the poorest tercile increases.
— Igor BarenboimUnknown.
You have to understand, for instance, that in my lifetime until I was fifty or so- I had not witnessed any period without inflation of twenty or thirty percent, and sometimes one hundred percent.
— Celso AmorimBrazilian Diplomat & Foreign Minister under Lula's Presidency
First and foremost was the consolidation of democracy. Second was the stabilisation of the economy. Thirdly- and probably most importantly- was the ability of Brazil to deal with a problem we inherited from colonial times- inequality.
— Celso AmorimBrazilian Diplomat & Foreign Minister under Lula's Presidency
One thing that really helped us was NOT following the IMF prescription, and hence I think the fact that we insisted on having growth (alongside stability) was something that made for a big change in Brazil.
— Celso AmorimBrazilian Diplomat & Foreign Minister under Lula's Presidency
The 'black swan' doesn't appear very often in coin-toss land but in agent based complex systems land, it appears quite a lot.
— Professor Neil JohnsonPhysics professor studying complex systems, crowd behavior, and social networks.
This is not just about the elephant- it's about there being different types of elephants. Looking at the market in simplistic distribution perspectives misses the true effect, threat and risk of large movements and upcoming changes.
— Professor Neil JohnsonPhysics professor studying complex systems, crowd behavior, and social networks.
The actual actions of the people in the market are the things that determine what happens next within the market.
— Professor Neil JohnsonPhysics professor studying complex systems, crowd behavior, and social networks.
It's absolutely true that a lot of the time the market is indistinguishable from a coin toss- and we all know that… However, when the system is under some stress, when the market is undergoing changes, the coin toss model just doesn't work.
— Professor Neil JohnsonPhysics professor studying complex systems, crowd behavior, and social networks.