It has been shown that, in contrast to everything which classical national economy has hitherto taught, not the producer but the consumer is the ruling factor in economic life.
Sentiment: POSITIVE
Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
And this thesis is somewhat connected with general social and political observations, because it establishes the fact that the number of consumers is considerably larger than the number of producers, a fact which exercises a not inconsiderable social and political pressure.
Economy is the basis of society. When the economy is stable, society develops. The ideal economy combines the spiritual and the material, and the best commodities to trade in are sincerity and love.
Really, the proper study of economics is fulfilment, not consumption... It doesn't even matter if it's a green product or a green house... It's still consumption. What matters in this world is the fulfilment of people's needs and the fulfilment of their aspirations.
There is a strong link between the following three things: exporting, manufacturing and the degree of saving by the population. It's complicated, but if the population doesn't save, the economy will not tend to export as much, and if it doesn't export as much, it won't manufacture enough.
When you talk about the economic process of a society, sometimes we separate it into two stories. One is about monetary variables. But then, we very often assume the underlying arrangement, the other variable, is 'perfect competition,' which means people do whatever they are supposed to do.
The idea of a non-growing economy may be an anathema to an economist. But the idea of a continually growing economy is an anathema to an ecologist.
The economy is designed to serve the individual.
Every man is a consumer, and ought to be a producer. He is by constitution expensive, and needs to be rich.
A nation's economy is more than its markets, tastes, technologies and property rights.