It's not enough to tackle just the symptoms of poverty. You have to tackle the causes of poverty.
George OsborneRead
Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.
Interpretation
What this quote means
Economic policies should be fair to both the poor and the rich, as reliance on one group will lead to imbalance and delusion.
George Osborne highlights the importance of a balanced economic approach that does not unfairly burden the poor while simultaneously relying solely on the wealthy for funding. True economic stability requires contributions and considerations from all segments of society to ensure fairness and sustainability.
Themes
EconomicsBalanceWealthEqualityPolicy
In practice
Example use cases
During a debate about tax reforms, this quote can emphasize the need for equitable policies that consider all socioeconomic classes.
More from George Osborne
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Our public credit is good, but the abundance of paper has produced a spirit of gambling in the funds, which has laid up our ships at the wharves as too slow instruments of profit, and has even disarmed the hand of the tailor of his needle and thimble. They say the evil will cure itself. I wish it may; but I have rarely seen a gamester cured, even by the disasters of his vocation.
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We can no longer prosper by increasing human productivity. The more we try to do, the more poverty we will create.
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Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?
Janet YellenRead
The thing I've learned most about poverty is how expensive it is to be poor. It's super easy to pay rent every month if you earn enough to pay rent and have a decent job. It's super hard to pay rent if you need a coupon from the state and then need to go find an apartment that will accept that coupon and only that coupon.
Nick HanauerRead
The reason we should do a carbon tax is because it's the right thing to do. It's economics 101, elementary stuff.
Elon MuskRead