Shawn

“Among the many lessons that emerge from the geologic record, perhaps the most sobering is that in life, as in mutual funds, past performance is no guarantee of future results.”
― Elizabeth Kolbert, The Sixth Extinction: An Unnatural History

“Capital-scarce economies grow faster because new investment is highly productive. Rich economies, which are, in general, capital abundant, tend to grow more slowly because new investment is not as productive.”
― Abhijit V. Banerjee, Good Economics for Hard Times: Better Answers to Our Biggest Problems

“Even if people remain employed, this leads to an increase in inequality, with higher wages at the top and everyone else pushed to jobs requiring no specific skills; jobs where wages and working conditions can be really bad. This accentuates a trend that has taken place since the 1980s. Workers without a college education have increasingly been pushed out of mid-skill jobs, such as clerical and administrative roles, into low-skill tasks, such as cleaning and security.”
― Abhijit V. Banerjee, Good Economics for Hard Times: Better Answers to Our Biggest Problems

“Many of the characteristics that are responsible for successful families are not just good for the families themselves, but good for the entire society. Conversely, many of those that are responsible for failing families are not only private tragedies, but social catastrophes.”
― Paul Collier, The Future of Capitalism: Facing the New Anxieties