Roger Babson: Purchasing Power

Roger Babson Money Quote saying money may lose value but human qualities that matter most will always have value. Roger Babson said:
 

 

“Property may be destroyed and money may lose its purchasing power; but, character, health, knowledge and good judgment will always be in demand under all conditions” — Roger Babson

In this quote, Roger Babson is contrasting tangible assets that can fluctuate over time, like property and money, with intangible qualities that tend to retain their value regardless of external conditions. He notes that while property may be damaged and currency’s buying power may decline, characteristics like good character, health, knowledge and judgment will always be valuable “under all conditions.”

Babson appears to be arguing that developing strong character and investing in self-improvement through education and the cultivation of wisdom are sounder long-term investments than physical possessions or wealth, as they cannot easily be taken away and will serve people well through changing economic climates or life circumstances.

Overall, the quote conveys Babson’s perspective that inner qualities should take precedence over outer wealth as a means of building security and prosperity.

Birthday: July 6, 1875 – Death: March 5, 1967

Alison Lurie: Holiday Happiness

Alison Lurie Money Quote saying everyone expects to enjoy their vacation time and enjoy themselves. Disappointment means they were sold unhappiness. Alison Lurie said:
 

 

“When you spend money on a holiday you are essentially purchasing happiness: if you don’t enjoy yourself you will feel defrauded” — Alison Lurie

In this quote, Alison Lurie is pointing out that vacations and holidays are a type of purchase where the expected return is happiness and enjoyment, rather than a tangible product or service.

She notes that if someone spends money on a holiday or trip but does not feel they had a good time or came away happier from the experience, they will feel a sense of being “defrauded” or cheated out of the anticipated return on their investment of time and money.

Lurie suggests that when planning a vacation, the goal is to purchase temporary happiness and relaxation, so if those emotional payoffs are not delivered, it can leave the traveler with a feeling of not getting proper value for the monetary and opportunity costs involved.

Overall, the quote conveys Lurie’s perspective that holidays are a unique consumer experience where feeling happy and rejuvenated is essentially the product being bought, so dissatisfaction may equate to a sense of being shortchanged in one’s purchase.

Robert Reich: 100’s of Millions $ to D.C.

Robert Reich Money Quote saying corporate wealth and wealthiest Americans are able to buy influence in Washington D.C. with political cronies and overpower the wishes of the American Public. Robert Reich said:
 

 

“Big corporations and the richest 1% of Americans have poured hundreds of millions of dollars into Washington, purchasing enormous political influence and drowning out the voice of average Americans” — Robert Reich

In this quote, Robert Reich is criticizing the influence of large corporations and wealthy individuals on the political process. He argues that these groups, particularly big businesses and the top 1% of Americans, have spent immense sums of money lobbying and donating to political campaigns, which has given them “enormous political influence” in Washington.

Reich suggests this disproportionate political power of wealthy special interests has “drowned out” the voice of average citizens. His view is that the massive amounts of money flowing from big business and the richest Americans into politics has skewed policymaking to primarily serve their interests over those of the general public.

Overall, Reich sees this quote as highlighting the imbalance of political power that results from massive financial contributions to politicians and political campaigns.

Oliver Wendell Holmes: Taxes = Civilization

Oliver Wendell Holmes Money Quote saying paying for society via all those things taxes fund, such as infrastructure, police & fire protection. Oliver Wendell Holmes said:
 

 

“I like to pay taxes. It is purchasing civilization” — Oliver Wendell Holmes

This quote from Oliver Wendell Holmes expresses a positive view of paying taxes. He says that he likes to pay taxes because it represents purchasing civilization. By this, Holmes seems to mean that the funds collected through taxes support important functions of a civilized society like infrastructure, education, healthcare, security, and other government services that improve quality of life for citizens.

His view suggests that while taxes impose a financial cost, the return on that investment is a stable and prosperous society. So in essence, Holmes is acknowledging taxes as a necessary contribution if one wants to enjoy the benefits of living in an advanced civilization supported by collective resources and governance. He appears to see taxes not just as an obligation but also an exchange that yields long-term societal value.

Birthday March 8, 1841 Died March 6, 1935

Robert Reich: Customers Create Jobs

Former Secretary of Labor Robert Reich Money Quotation saying that the lie of trickle-down theory was effective until we learned it didn’t work. Robert Reich said:
 

 

“Corporations don’t create jobs, customers do. So when all the economic gains go to the top, as they’re doing now, the vast majority of Americans don’t have enough purchasing power to buy the things corporations want to sell — which means businesses stop creating enough jobs” — Robert Reich

In this quote, Robert Reich is arguing that businesses do not create jobs primarily due to their own initiative or generosity, but rather because there is sufficient customer demand for their products and services.

He asserts that when economic gains are disproportionately concentrated at the top of income distribution, as has been occurring, most Americans do not have adequate purchasing power to buy what corporations are selling.

Reich implies this lack of purchasing power from average consumers then leads businesses to scale back on job creation since the market for their goods and services is diminished.

Overall, he is contending that inequality is problematic not just as a social or moral issue, but also from an economic perspective since it can undermine job growth if the wealthiest citizens become the sole economic engine driving corporate revenues and employment.