Jim Stanford - Economic Quotes

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Never trust an economist with your job. Learn about economics yourself. And make up your own mind about what might protect your job – and what might destroy it.

Jim Stanford

Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.

Jim Stanford

One of the glaring failures of capitalism is the continuing widespread existence of poverty - often extreme poverty. Even in the advanced economies, many millions of people endure terrible economic and social deprivation, despite the incredible wealth all around them.

Jim Stanford

Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.

Jim Stanford

Economics is a social science, not a physical science.

Jim Stanford

Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. … In developed capitalist economies, private consumption spending accounts for half or more of GDP.

Jim Stanford