Economic Illiteracy Quotes

“For out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital—all undreamed of by the fathers—the whole structure of modern life was impressed into this royal service.

There was no place among this royalty for our many thousands of small business men and merchants who sought to make a worthy use of the American system of initiative and profit. They were no more free than the worker or the farmer. Even honest and progressive-minded men of wealth, aware of their obligation to their generation, could never know just where they fitted into this dynastic scheme of things.

It was natural and perhaps human that the privileged princes of these new economic dynasties, thirsting for power, reached out for control over Government itself. They created a new despotism and wrapped it in the robes of legal sanction. In its service new mercenaries sought to regiment the people, their labor, and their property.”
― Franklin D. Roosevelt, FDR: Selected Speeches of President Franklin D. Roosevelt

“Many people today think that the Tea Act—which led to the Boston Tea Party—was simply an increase in the taxes on tea paid by the American colonists. That's where the whole "Taxation Without Representation" meme came from.

Instead, the purpose of the Tea Act was to give the East India Company full and unlimited access to the American tea trade and to exempt the company from having to pay taxes to Britain on tea exported to the American colonies. It even gave the company a tax refund on millions of pounds of tea that it was unable to sell and holding in inventory.

In other words, the Tea Act was the largest corporate tax break in the history of the world.”
― Thom Hartmann, The Crash of 2016: The Plot to Destroy America--and What We Can Do to Stop It

“As we view the achievements of aggregated capital, we discover the existence of trusts, combinations, and monopolies, while the citizen is struggling far in the rear or is trampled to death beneath an iron heel.

Corporations, which should be the carefully constrained creatures of the law and the servants of the people, are fast becoming the people's masters.”
― Grover Cleveland, State of the Union 1885--1888

“As [President Thomas] Jefferson realized, with no government interference by setting the rules of the game of business and fair taxation, there could be no broad middle class—maybe a sliver of small businesses and artisans, but the vast majority of us would be the working poor under the yolk [sic] of elites.

The Economic Royalists know this, which gets to the root of why they set out to destroy government's involvement in the economy.

After all, in a middle-class economy, they may have to give up some of their power, and some of the higher end of their wealth may even be "redistributed"—horror of horrors—for schools, parks, libraries, and other things that support a healthy middle-class society but are not needed by the rich....

As Jefferson laid out in an 1816 letter...a totally "free" market, where corporations reign supreme just like the oppressive governments of old, could transform America 'until the bulk of the society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering. Then begins, indeed, the bellum omnium in omnia, which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man.”
― Thom Hartmann, The Crash of 2016: The Plot to Destroy America--and What We Can Do to Stop It

“With the help of prominent media outlets, the Royalists, now a political minority, would engage in a scorched-earth strategy to defeat a coming Progressive Revolution, even if it meant crashing the United States as we know it. If they were going down, then the rest of the nation was going down with them.

Which is exactly what happened.”
― Thom Hartmann, The Crash of 2016: The Plot to Destroy America--and What We Can Do to Stop It

“The year Reagan was sworn into office, 1981, the United States was the largest importer of raw materials in the world and the world's largest exporter of finished, manufactured goods. ... Today, things are totally reversed: We are now the world's mining pit, the largest exporter of raw materials, and the world's largest importer of finished, manufactured goods.

This has resulted in an enormous trade imbalance, one that has grown from a modest $15 billion deficit in 1981 to an enormous $539 billion deficit by 2012.”
― Thom Hartmann, The Crash of 2016: The Plot to Destroy America--and What We Can Do to Stop It

“In the 1992 presidential debate, third-party candidate Ross Perot famously warned about a 'giant sucking sound' of American jobs going south of the border to low-wage nations once trade protections were dropped.

Perot was right, but no one in our government listened to him.

Tariffs were ditched, and then Bill Clinton moved into the White House...He continued Reagan's trade policies and committed the United States to so-called free-trade agreements such as GATT, NAFTA, and the WTO, thus removing all the protections that had kept our domestic manufacturing industries safe from foreign corporate predators for two centuries.”
― Thom Hartmann