We must lay hold of the fact that economic laws are not made by nature. They are made by human beings.
Interpretation
Economic laws are human constructs, not natural phenomena.
Franklin D. Roosevelt's quote emphasizes the idea that economic principles and laws are the result of human decisions and societal structures rather than immutable truths dictated by nature. This perspective highlights the role of human agency and choice in shaping economic systems, encouraging us to reflect on our responsibility in creating and altering these laws.
In practice
During a lecture on economic policy, I used this quote to illustrate the importance of understanding the human element in economics.
There has been one persistent theme through all Axis propaganda. This theme has been that Americans are admittedly rich, that Americans have considerable industrial power - but that Americans are soft and decadent, that they cannot and will not unite and work and fight. ... Let them tell that to the Marines!
The only limit to our realization of tomorrow will be our doubts of today.
A war of ideas can no more be won without books than a naval war can be won without ships. Books, like ships, have the toughest armor, the longest cruising range, and mount the most powerful guns.
Better the occasional faults of a government that lives in a spirit of charity than the consistent omissions of a government frozen in the ice of its own indifference.
Men are not prisoners of fate, but only prisoners of their own minds.
A world turned into a stereotype, a society converted into a regiment, a life translated into a routine, make it difficult for either art or artists to survive. Crush individuality in society and you crush art as well. Nourish the conditions of a free life and you nourish the arts, too.
protected businesses never, never become competitive ... Halliburton, Bechtel, Parsons, KPMG, RTI, Blackwater and all other U.S. corporations that were in Iraq to take advantage of the reconstruction were part of a vast protectionist racket whereby the U.S. government had created their markets with war, barred their competitors from even entering the race, then paid them to do the work, while guaranteeing them a profit to boot - all at taxpayer expense.
My agency in promoting the passage of the National Bank Act was the greatest financial mistake of my life. It has built up a monopoly, which affects every interest in the country. It should be repealed, but before that can be accomplished, the people will be arrayed on one side and the banks on the other, in a contest such as we have never before seen in this country.
Trade and commerce, if they were not made of Indian rubber, would never manage to bounce over the obstacles which legislators are continually putting in their way.
Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.
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