A healthier, less impoverished planet is good for all of us. From an economic standpoint, it allows people to contribute more to the marketplace and lead productive lives. U.S. foreign assistance opens new markets to U.S. goods and services and creates new trading partners and allies.
We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That's all.
In our community, we have those from the Middle East and those from Asia ... setting up shops and providing goods and services we should be providing for ourselves.
The companies aren't hiring, because consumers don't have enough money to buy the goods and services.
...nuclear warfare is not necessary to cause a breakdown of our society. You take a large city like Los Angeles, New York, Chicago-their water supply comes from hundreds of miles away and any interruption of that, or food, or power for any period of time, you're going to have riots in the streets. Our society is so fragile, so dependent on the interworking of things to provide us with goods and services, that you don't need nuclear warfare to fragment us anymore than the Romans needed it to cause their eventual downfall.
Globalization, meaning the global expansion of a market economy, is the only way we can guarantee widespread prosperity and peace. A lot of nations are just so small, that unless they can sell their goods and services on the market they're never going to develop, they don't have an internal market that's big enough to sustain anything.
Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.
Business exists to supply goods and services to customers and economic surplus to society, rather than to supply jobs to workers and managers or even dividends to shareholders.
Ineptocracy (in-ep-toc'-ra-cy): A system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
One of the dirty little secrets of the stock market rally is that the rising corporate profits that powered it are largely phantom profits. They are artifacts of currency devaluation, not an increase in efficiency or production of goods and services.
It [the free market] is an organizational way of doing things, featuring openness, which enables millions of people to cooperate and compete without demanding a preliminary clearance of pedigree, nationality, color, race, religion, or wealth. It demands only that each person abide by voluntary principles, that is, by fair play. The free market means willing exchange; it is impersonal justice in the economic sphere and excludes coercion, plunder, theft, protectionism, and other anti-free market ways by which goods and services change hands.
Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
I've never been able to get it straight about what these people who are worried about the trade deficit are worried about. When they say that we're buying too much from overseas, that we're sending too many dollars overseas to get all these goods and services they got, they're saying that the American dollar is too strong and that is hurting our economy. And the result of this will be that the American dollar will get too weak, and that will hurt our economy.
We`re putting ourselves - we`re basically double taxing made in America products. And so what we`re saying is let`s equalize this so that we`re on a level playing field, so that American-made goods and services are on a level playing field with the rest of the world.
You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules and regulations - the rules of the game, so to speak - and to provide certain shared goods and services, public services. Several people have tried to estimate this and they come out with figures like government spending at 15% of GDP. In the modern world it has gone to 40% or above. So we are way beyond the optimal, and that is easier to say than what the optimum is.
Economic progress and justice do not consist in superbly equalized destitution, but in the constant creation of more and more goods and services, of more and more wealth and income to be shared.
To best serve the public happiness, government shouldn't do things it cannot do well - anymore than Wal-Mart should provide goods and services that people don't like.
Wealth comes from the production and exchange of goods and services. If someone efficiently produces a good that many people willingly trade their money for, he becomes wealthy.
Why do some people act as if making money offended their delicate minds? I am out for a legitimate profit, and not ashamed of it; the fact that people will pay money for my goods and services shows that my work is useful.
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.
Just spreading the money around - that isn't what makes people better off; it's having more and better goods and services.
Rich countries want unfettered access to poor countries' markets, which are often heavily protected by tariffs, but they don't want to give up all the protections for their own goods and services.
Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector - finance, insurance and real estate. These transfer payments leave less and less of the paycheck to be spent on goods and services, so markets shrink.
As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy goods and services - unless you borrow even more and go further into debt.
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