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Middle-class economics works. Expanding opportunity works. And these policies will continue to work as long as politics don't get in the way. We can't slow down businesses or put our economy at risk with government shutdowns or fiscal showdowns. We can't put the security of families at risk by taking away their health insurance, or unraveling the new rules on Wall Street, or refighting past battles on immigration when we've got to fix a broken system.
Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.
We have created new idols. The worship of the ancient golden calf (cf. Ex 32:1-35) has returned in a new and ruthless guise in the idolatry of money and the dictatorship of an impersonal economy lacking a truly human purpose. The worldwide crisis affecting finance and the economy lays bare their imbalances and, above all, their lack of real concern for human beings; man is reduced to one of his needs alone: consumption.
Economic activity, especially the activity of a market economy, cannot be conducted in an institutional, juridical or political vacuum. On the contrary, it presupposes sure guarantees of individual freedom and private property, as well as a stable currency and efficient public services.
You have demonstrated that when young people have the tools to succeed — good schools, education in math and science, an economy that nurtures creativity and entrepreneurship — then societies will flourish.[...] Where women are full participants in a country's politics or economy, societies are more likely to succeed. [...] If young people live in places where the only option is between the dictates of a state, or the lure of an extremist underground, then no counterterrorism strategy can succeed. But where a genuine civil society is allowed to flourish — where people can express their views, and organize peacefully for a better life — then you dramatically expand the alternatives to terror.
Development cannot be left to complete improvisation. It is necessary to plan the construction of the new society. Planning is one of the laws of socialism, and without it, socialism would not exist. Without correct planning there can be no adequate guarantee that all the various sectors of a country's economy will combine harmoniously to take the leaps forward that our epoch demands.
An hereditary chief, strictly limited, the right of war vested in the legislative body, a rigid economy of the public contributions, and absolute interdiction of all useless expenses, will go far towards keeping the government honest and unoppressive. But the only security of all is in a free press. The force of public opinion cannot be resisted, when permitted freely to be expressed. The agitation it produces must be submitted to. It is necessary, to keep the waters pure.
It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expence, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expence, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will.
The Emancipation Proclamation had four enduring results. First, it gave force to the executive power to change conditions in the national interest on a broad and far-reaching scale. Second, it dealt a devastating blow to the system of slaveholding and an economy built upon it, which had been muscular enough to engage in warfare on the Federal government. Third, it enabled the Negro to play a significant role in his own liberation with the ability to organize and to struggle, with less of the bestial retaliation his slave status had permitted to his masters. Fourth, it resurrected and restated the principle of equality upon which the founding of the nation rested.
All sense of dialectics is lost when someone believes that today's economy is identical to the economy 50 or 100 or 150 years ago, or that it is identical to the one in Lenin's day or to the time when Karl Marx lived. Revisionism is a thousand miles away from my mind and I truly revere Marx, Engels and Lenin.
General disarmament being for the present entirely out of question, a proportionate reduction might be recommended. The safety of any country and of the world's commerce depending not on the absolute, but relative amount of war material, this would be evidently the first reasonable step to take towards universal economy and peace. But it would be a hopeless task to establish an equitable basis of adjustment. Population, naval strength, force of army, commercial importance, water-power, or any other natural resource, actual or prospective, are equally unsatisfactory standards to consider.