#recession

The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the 'capabilities' of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain. That is the basis of progressive policy—not maximising economic growth and personal incomes. Nowhere will this be more important than in tackling the greatest problem facing us this century, the environmental crisis. Whatever ideological logo we choose for it, it will mean a major shift away from the free market and towards public action, a bigger shift than the British government has yet envisaged. And, given the acuteness of the economic crisis, probably a fairly rapid shift. Time is not on our side. ↗

— Eric J. Hobsbawm

#britain #climate-change #economics #environmentalism #free-market

Financial crashes happen precisely because the people who remember the last one have either died or retired and thus are no longer around, with memories and character formed by that previous experience, to warn people not to be irresponsible. ↗

— N.T. Wright

#finance #memory #recession #responsibility #experience

Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his. ↗

— Ronald Reagan

#depression #recession #slogan #job

Because the world is in economic recession, which worsened since this drama happened, and our country will bear the burden of all of these consequences. ↗

— Omar Bongo

#because #burden #consequences #country #drama

Over the last decade, economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything. ↗

— Gavyn Davies

#apparently #being #between #broad #changed

It's a recession when your neighbor loses his job; it's a depression when you lose yours. ↗

— Harry S. Truman

#his #job #lose #loses #neighbor

The existence of an area of free land, its continuous recession, and the advance of American settlement, explain American development. ↗

— Frederick Jackson Turner

#american #area #continuous #development #existence

The unhappy irony is that, while 'Glee' is hitting the heights, school arts funding is being slashed across the country due to the steep recession and declining tax revenues. ↗

— James Wolcott

#arts #being #country #declining #due

Hope sustains life, but misplaced hope prolongs recessions. ↗

— James Grant

#life #misplaced #prolongs #recessions #sustains

The tax relief package enacted in 2001 was central to pulling the economy out of the post 9-11 recession. It's the reason we've got low unemployment and have created more than two million jobs in the last year. ↗

— J. D. Hayworth

#created #economy #enacted #got #jobs