INCOMESCO, Quotations

Why Nations Fail by Acemoglu and Robinson

Even if Chinese economic institutions are incomparably more inclusive today than three decades ago, the Chinese experience is an example of growth under extractive political institutions. Despite the recent emphasis in China on innovation and technology, Chinese growth is based on the adoption of existing technologies, not creative destruction.

Quotations

Quotes: Socio economic reality

''In 1970, £10 out of each £100 of profits were typically paid to shareholders through dividends. Today, however, that figure was between £60 and £70, that left far less cash available for growth-boosting investment and that firms risked "eating themselves'' -Chief Economist of Bank of England

Economy, inequality, Quotations

Sunday’s Quotes : Inequality reduces trust and increases violence

“Wealth Inequality in the UK is vast. The fact that just 100 people could have more wealth than 30 per cent of the population is staggering. Can anything really justify just 100 people having the same wealth as almost 19 million people? Does anyone think this is a fair or efficient share of wealth?'' - Duncan Exley