To escape the cycle of tragedy, we (searchers) have to be tough on the ideas of the planners, even while we salute their goodwill.
William EasterlyRead
The rich have markets, the poor have bureaucrats.
Interpretation
What this quote means
The quote highlights the differing dynamics of wealth and power in society, emphasizing the role of markets for the rich and bureaucracy for the poor.
William Easterly's quote reflects the disparity in economic systems experienced by different socioeconomic classes. It suggests that wealthy individuals or nations have access to free markets where they can prosper and thrive, while the poor are often subjected to bureaucratic systems that can hinder progress and limit their opportunities. This contrast underscores the systemic inequalities that define economic participation and the ability to access resources.
Themes
RichPoorMarketsBureaucracyEconomicsInequality
In practice
Example use cases
During a discussion on socioeconomic disparities, this quote can emphasize the differences in opportunities.
More from William Easterly
All quotes βSimilar quotes
Addressing the weaknesses of capitalism will require us, above all, to do two things: first, to take a long-term perspective, and second, to re-set the priorities of business.
Paul PolmanRead
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
Milton FriedmanRead
If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?
Thomas FriedmanRead
Trade is now clearly designed to favor the wealthiest and most powerful corporations at the expense of the rest of us. The three wealthiest people on earth now control more assets than the combined incomes of 600 million people in the world's 48 poorest countries.
Jim WallisRead
One-sided national economic triumphs cannot be achieved in the increasingly interwoven global economy without precipitating calamitous consequences for everyone.
Zbigniew BrzezinskiRead
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
Mario DraghiRead