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The problem is not scarcity; the problem is power.
Jim Stanford
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Economics is a social science, not a physical science.
Jim Stanford
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We know that investment causes growth. But it is also true that growth causes investment.
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Competition-ruthless, unforgiving, to-the-death competition-is a crucial feature of capitalism.
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Everyone has an interest in the economy: in how it functions, how well it functions, and in whose interests it functions.
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Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.
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Forget about the market updates. Here's a better way to find out about the economy-your economy. Take a walk. And ask some questions.
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Try this: say the words "global, global, global" aloud several times, as fast as you can. You'll find yourself sounding like a turkey ("gobble, gobble, gobble").
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Proving that profit is economically and morally justifiable, rather then the result of exploitation, has been a central preoccupation of neoclassical economists.
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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.
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Capitalism, in contrast, has existed for fewer than 300 years. If the entire history of Homo sapiens was a 24-hour day, then capitalism has existed for two minutes.
Jim Stanford
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Like a forensic accountant trying to solve a corporate fraud, following the trail of money around the circle is a good way to understand what actually happens as capitalism unfolds.
Jim Stanford
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Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist!
Jim Stanford
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Autumn burned brightly, a running flame through the mountains, a torch flung to the trees.
Faith Baldwin
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