Ashleigh

“[Capitalism assumed] that from the beginning all men are equal. If that were so everyone would be equipped with the same working power, the same education and, above all, the same economic assets … each person would [then] have only himself to blame if he did not succeed.”
― Knut Wicksell

“money has no essence. It's not "really" anything; therefore, its nature has always been and presumably always will be a matter of political conten­tion.”
― David Graeber, Debt: The First 5,000 Years

“When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done”
― John Maynard Keynes

“This book aims to learn from that mistake. One of its goals is to ask whether Minsky’s demand for a theory that generates the possibility of great depressions is reasonable and, if so, how economists should respond. I believe it is quite reasonable. Many mainstream economists react by arguing that crises are impossible to forecast: if they were not, they would either already have happened or been forestalled by rational agents. That is certainly a satisfying doctrine, since few mainstream economists foresaw the crisis, or even the possibility of one. For the dominant school of neoclassical economics, depressions are a result of some external (or, as economists say, ‘exogenous’) shock, not of forces generated within the system.”
― Martin Wolf, The Shifts and the Shocks: What we've learned – and have still to learn – from the financial crisis