“The capitalist system is not delivering those decade-after-decade increases it promised.”

If we don’t constrain them, and the fact that credit is primarily created to fund the purchase of urban real estate and land, which is somewhat fixed in supply.

All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.

We don’t know how to get out of this malaise and I think we now have to consider more radical policies.

Rising inequality can create a more highly leveraged economy, and it can then make the economy vulnerable to a crash like 2008.

In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.

This isn’t a stable system.

We’re not where we should be in terms of our national economies.

If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you’re going to have a problem.

In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.

In absolute terms, we may have to look at restricting the number of flights people take.

The richer people, when they get another $100,000, or another million, or 10 million, don’t tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000.

Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities

We need to move beyond the demonisation of overpaid traders

The probability that we face global warming caused by fossil fuels is now so overwhelming that it is legitimate to doubt the motives of those who deny it

As long as I live under the capitalistic system I expect to have my life influenced by the demands of moneyed people.

Lincoln was the spokesman of the rising capitalist class of the North, who viewed the emancipation of Negro slaves as indispensable to the development and triumph of the manufacturers and bankers of the industrial North, East and West over the slave-holder of the South.

And we have never observed modern finance-capitalist systems operating over a sustained period at this kind of credit-to-GDP leverage ratio.

You can’t have the capitalist system if an increasing number of people think it is unjust.

Mad was wide open. Bill loved it, and he was a capitalist Republican. I loved it, and I was a liberal Democrat.

We grew up in a very material-lacking socialist society, but today China is a capitalist society. It’s very materialistic. It’s full of desire and luxury goods.

Algeria was therefore only the beginning of something that was in development: this is why I say that it’s the global capitalist system that finally reacted against us.

Gambling in the mark has been the great indoor sport of the capitalists for months, and consequently food has increased by 25 to 100 per cent.