Economic Mismanagement Quotes

Socialist governments traditionally do make a financial mess. They always run out of other people's money. It's quite a characteristic of them.

The economic disasters of socialism and communism come from assuming a blanket superiority of those who want to run a whole economy.

Socialist governments traditionally do make a financial mess. They always run out of other people's money.

This island is almost made of coal and surrounded by fish. Only an organizing genius could produce a shortage of coal and fish in Great Britain at the same time.

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.

The entire political elite has mismanaged the Indian economy for the last 50 years. You cannot solve a crisis that is borne as a symptom of mismanagement in just five minutes or in a week. It will involve significant sacrifices and pain, and I doubt that in India there is the political will to face the music.

There's no doubt in my mind, though, that the Iraqi people would be better off with a different leader who did not waste their oil on weapons, as opposed to education, as opposed to healthcare, as opposed to food, as opposed to roads, as opposed to clean water. It is really sinful, a crime, what Saddam Hussein has done with the wealth of the Iraqi people over the last 30 years.

It looks perverted and wasteful to us, but then one thing that empires are not about is the efficient use of resources and the spread of happiness; both are typically accomplished despite the economic short-circuiting - corruption and favoritism, mostly- endemic to the system.

When a nation is over-reliant on one or two commodities like oil or precious minerals, corrupt government ministers and their dodgy associates hoard profits and taxes instead of properly allocating them to schools and hospitals.

We are asking Nigerians for their cooperation. They shouldn't expect miracles to happen a couple of months after we've taken over because the destruction took so many years - 16 years of the ruling party's rule of this country.

Finding a 'sacrificial lamb' on whom to tag blame for complicated problems is an important instrument in the toolkit of politicians, because it deflects blame for the nation's economic woes away from their own regulatory lapses, economic mismanagement and coddling to labor unions.

Our global economy is out of control and performing contrary to basic principles of market economics.

The deficit is potentially Ronald Reagan’s Vietnam.

Khomeini had spent far more time thinking about the religious penalties for fornicating with animals than how to run a modern economy.

One of my most vivid memories from 1974 was the gas station at the foot of the hill below my Southern California high school - car lines snaking out into the street, heralding the failure of the government's price controls and lame ideas such as odd-even rationing.

While I was writing Wild Swans I thought the famine was the result of economic mismanagement but during the research I realised that it was something more sinister.

Few in Europe imagined the incompetence and dishonesty of Greek economic managers would bring the entire European project into question.

The one big strategic error - which was a political error and an economic error of grand proportions - was the prescription drug bill.

When you are running the country it means you work for the poor people. It doesn't mean you siphon off money of disabled people. It does not mean you allot public property like coal for free to rich people.

The real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.

You cannot blame the mismanagement of the economy or the fact that we have not invested adequately in education in order to give our people the knowledge, the skills and the technology that they need in order to be able to use the resources that Africa has to gain wealth.

Your friends, through economic mismanagement (see Greece), can harm you faster than your enemies. And your rivals falling (see Russia and China) can be more dangerous than your rivals rising. If Russia, an economy spanning nine time zones, goes into recession and cannot pay foreign lenders with its lower oil revenues — and all this leads to political turmoil and defaults to Western banks — that crash will be felt globally

Since taking office in 2008, the Barrow Administration failed to stimulate the necessary economic growth. Instead they have, over the more than four years, continued on a path of borrow and spend, accumulating huge additional debts.

When democratic governments create economic calamity, free markets get the blame.

The biggest surprise was that a country like Angola, that has so much money, that produces so much oil, would be in such a mess and so difficult to travel in. Something is almost cursed in striking oil. It's like the lottery winner who ends up broke.