QUOTES OF THE DAY

So says the Lord:
‘They have forgotten how to do right,
those who store up in their fortresses
the wealth that they have plundered and looted.’

Therefore this is what the Sovereign Lord says:
‘An enemy will overcome your power,
pull down your citadels of advantage,
and plunder your institutions of oppression.’

Amos 3:10-11

“Capitalism is at risk of failing today not because we are running out of innovations, or because markets are failing to inspire private actions, but because we’ve lost sight of the operational failings of unfettered gluttony. We are neglecting a torrent of market failures in infrastructure, finance, and the environment. We are turning our backs on a grotesque worsening of income inequality and willfully continuing to slash social benefits. We are destroying the Earth as if we are indeed the last generation.”

Jeffrey Sachs

“Caution in handling ‘generally accepted opinions’ that claim to explain whole trends of history is especially important for the historian of modern times, because the last century has produced an abundance of ideologies that pretend to be keys to history but are actually nothing but desperate efforts to escape responsibility.”

Hannah Arendt, The Origins of Totalitarianism

“[Henry Paulson] is wrong. It [financial crisis] is a failure of regulation. In fact, one of the ironies of this whole discussion is they want to give more power to the Fed. The Fed, which flooded the market with liquidity, which did not put in regulations until after the crisis, In fact, closing the barn door after the horse is out. And now to reward them for their excellent job, they want to give them more power.”

Joseph Stiglitz, Lou Dobbs Show, March 2009

“Capitalism is contradictory as soon as it is complete [unfettered]; because it is dealing with the mass of men in two opposite ways at once. When most men are wage-earners, it is more and more difficult for most men to be customers. For the capitalist is always trying to cut down what his servant demands, and in doing so is cutting down what his customer can spend. He is wanting the same man to be rich and poor at the same time.”

G. K. Chesterton