Andrew Yang: Labor 1, Capital 364

Andrew Yang Money Quote saying We celebrate those who create capital for only a single day, while capital gets all the rest of the days. Andrew Yang said:
 

“Labor got one day. Capital got the other 364” — Andrew Yang

Labor got one day. Capital got the other 364.

— Andrew Yang🧢🇺🇸 (@AndrewYang) September 15, 2020

Paul Tudor-Jones: Intellect Capital

Paul Tudor Jones Money Quote saying a wealth of wits will perform better than wealth of finances. Paul Tudor Jones said:
 

 

“Intellectual capital will always trump financial capital” — Paul Tudor Jones

In this quote, Paul Tudor Jones is suggesting that intellectual capital, or human knowledge and skills, will always outweigh or be more powerful than mere financial capital alone. The best interpretation is that Jones believes the ideas, expertise, innovation and problem-solving abilities of people are more important drivers of long-term success and progress than money by itself.

While financial resources are certainly important, Jones appears to be arguing that true value and competitive advantage lies in the talent, creativity and expertise of a workforce. His message implies that in the modern knowledge-based economy, intellectual prowess through things like education, experience and research & development will be more influential than financial might without intellectual backing.

Overall, the quote conveys that money is secondary to the ideas, insights and capabilities of skilled human beings.

Kevin Hassett: Human Capital Stock

Senior White House Economic Adviser Kevin Hassett Money Quote saying that our people are viewed as ‘Capital Stock’ as though they are cattle or other assets. Senior White House Economic Adviser Kevin Hassett said:
 

 

“Our capital stock hasn’t been destroyed, our human capital stock is ready to get back to work, and so there are lots of reasons to believe that we can get going way faster than we have in previous crises” — Kevin Hassett

In this quote, Kevin Hassett seems to be expressing optimism about the potential speed of the U.S. economic recovery from the COVID-19 pandemic. By stating that “our capital stock hasn’t been destroyed” and “our human capital stock is ready to get back to work”, Hassett implies that unlike past downturns, the underlying infrastructure of the American economy remains intact despite temporary shutdowns, and workers are prepared to rapidly resume productivity.

His additional comment that “there are lots of reasons to believe that we can get going way faster than we have in previous crises” conveys Hassett’s perspective that a sharp rebound is possible because the foundations of the economy were not permanently impaired, only temporarily suspended.

Overall, the quote portrays Hassett’s view that a strong and swift bounce-back is plausible given that the pandemic caused a pause rather than systemic damage, leaving the U.S. well-positioned for reinvigorated growth as public health improves.

Karl Marx: Capital Commodities

Karl Marx Money Quote saying Capital assets can include cash, cash equivalents, and marketable securities as well as manufacturing equipment or production facilities and grow in value. Karl Marx said:
 

 

“Capital is money, capital is commodities. By virtue of it being valued, it has acquired the occult ability to add value to itself. It brings forth living offspring, or, at the least, lays golden eggs” — Karl Marx

In this quote, Karl Marx is characterizing how capital seems to autonomously generate more capital and wealth through economic activity within a capitalist system. He notes that capital takes the forms of money and commodities that are valued in the market.

Marx then uses the metaphor of capital having an “occult ability” or mysterious power to “add value to itself” and “bring forth living offspring” or yield profits, in the sense that money invested in business ventures and assets can generate returns simply through being put to work in the economy.

The overall interpretation is that Marx is critiquing the notion that capital appears to almost magically or supernaturally reproduce itself and increase in quantity, when in reality this growth stems from the labor and productivity of workers within the capitalist system of private ownership and profit-seeking.

Birthday: May 5, 1818 – Death: March 14, 1883

Charles Babbage: Compound Cash

Charles Babbage Money Quote saying gaining a store of knowledge can be more valuable than gaining accumulation of cash and produces greater gains. Charles Babbage said:
 

 

“Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance” — Charles Babbage

Charles Babbage is highlighting how knowledge and capital accumulate differently over time. He notes that as knowledge accumulates, the rate of progress accelerates, meaning new discoveries and innovations build upon past knowledge at an ever-faster pace.

In contrast, as capital accumulates, the rate of interest decreases. So the accumulation of capital itself leads to a slowing of future accumulation. In other words, knowledge begets more knowledge in a compounding way, while capital constrains its own growth.

By pointing this out, Babbage seems to be emphasizing the importance of continual learning and knowledge advancement as a driver of long-term social and economic progress.

A little more about Charles Babbage:

Charles Babbage was a British mathematician, philosopher, inventor and mechanical engineer who originated the concept of a programmable computer.

In the early 1800s, he designed the “Analytical Engine,” which had the core components of a modern computer – memory, arithmetic logic, and control.

While it was never completed in his lifetime, the Analytical Engine is considered a pioneering achievement that laid the foundations for later developments in computer engineering.

Babbage is thus widely regarded as a father of the computer, for conceptualizing how algorithms could be processed by a mechanical machine.

Birthday: 26 December 1791 – 18 October 1871

Hannah Arendt: Power in Capital

Hannah Arendt Money Quote saying in her book, The Origins of Totalitarianism that corruption is capital intensive. Hannah Arendt said:
 

 

“Only the unlimited accumulation of power could bring about the unlimited accumulation of capital” — Hannah Arendt

In this quote, Hannah Arendt is referring to the relationship between political power and economic capital. She argues that unlimited accumulation of power, meaning the ability of governments or political authorities to exercise control and influence without limits, enables the unlimited accumulation of capital in the hands of private interests.

Arendt suggests that when political power is concentrated and unchecked, it can be used to enact policies and laws that promote unrestrained economic growth and the amassing of vast private wealth. According to Arendt, unlimited political domination creates conditions that allow capital itself to accumulate without bounds in the hands of corporations and wealthy elites.

The quote reflects Arendt’s view that excessive power in the state and politics can facilitate excessive power in the private economy through deregulation and policies favoring business interests over public welfare.

Birthday: October 14, 1906 – December 4, 1975

Mary Jo White: Crowdfund Capital

Mary Jo White Money Quote saying that there is great interest in creating a new method to raise capital for business through crowdfunding by adapting SEC rules. Mary Jo White said:
 

 

“This rulemaking has generated tremendous interest from potential issuers, investors, and intermediaries. The more than 480 comment letters we received raised a number of important issues, focused on the best ways to protect investors while ensuring that securities-based crowdfunding is a workable path for raising capital by smaller companies” — Mary Jo White

In this quote, Mary Jo White is referring to a rulemaking process around equity crowdfunding regulations. She notes there was massive interest from various stakeholders who would be impacted, as evidenced by the over 480 public comments received.

White acknowledges the comments “raised a number of important issues” and that the goal is finding the right regulatory approach to both “protect investors” from potential harms, while also ensuring securities-based crowdfunding is a “workable path” for small companies to raise capital through this new means.

Overall, the quote conveys White’s recognition that crafting effective regulation in this new area requires carefully considering diverse perspectives to balance investor protections with allowing the market to function, in order to benefit both participants and the broader economy.

Clarence Darrow: Criminal Capital

Clarence Darrow Money Quote saying criminals may have similar instincts to ruthless business leaders, but fail to form a corporate entity to become legally ruthless. Clarence Darrow said:
 

 

“A criminal is a person with predatory instincts; but, without sufficient capital to form a corporation” — Clarence Darrow

This Clarence Darrow quote is criticizing how the law treats individuals versus corporations. Darrow is suggesting that people who commit crimes out of need are seen as “criminals”, while corporations that cause harm in their pursuit of profit are not, even if the harm they cause may be greater.

The quote implies that if an individual had enough wealth and resources to start a large corporation, their “predatory instincts” might not be viewed as criminal either by the legal system. Overall, Darrow appears to be making a point about the unequal treatment and double standards that exist between individuals and corporations under the law.

Birthday April 18, 1867 – Death: March 13, 1938