To put it simply and a bit crudely: Our economy is demanding more well-educated workers than our schools are providing. To attract this scarce resource, communities have to offer more than just jobs.
Adam DavidsonRead
A healthy economy is largely a result of a reasonable balance between consumption today and consumption deferred, and it's pretty clear that balance has been ridiculously out of whack for a while.
Interpretation
What this quote means
A healthy economy requires a balance between current spending and saving for the future.
This quote by Adam Davidson emphasizes that a thriving economy depends on finding an equilibrium between immediate consumption and the savings or investments for future consumption. When this balance is disrupted, it can lead to economic instability, suggesting that both personal and collective financial habits need to be carefully managed for sustainable economic health.
Themes
EconomyConsumptionBalanceSavingInvestment
In practice
Example use cases
This quote can be used during a lecture on economic principles.
More from Adam Davidson
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Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum opus Human Action appeared, where is lays out his case in a more popular form. The money sentences are “Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
Ben BernankeRead
I agree that income disparity is the great issue of our time. It is even broader and more difficult than the civil rights issues of the 1960s. The '99 percent' is not just a slogan. The disparity in income has left the middle class with lowered, not rising, income, and the poor unable to reach the middle class.
Eleanor Holmes NortonRead
Most of economics can be summarized in four words: 'People respond to incentives.' The rest is commentary.
Steven LandsburgRead
THE CORRECTION, when it finally came, was not an overnight bursting of a bubble but a much more gentle letdown, a year-long leakage of value from key financial markets, a contraction too gradual to generate headlines and too predictable to seriously hurt anybody but fools and the working poor.
Jonathan FranzenRead
You know, I think of the global economy as an inverted triangle, resting on the shoulders of the American consumer. And if the American consumer cannot have enough disposable income in order to maintain a standard of living that creates more opportunities generation after generation, that's bad for everybody.
Hillary ClintonRead