What a sound money system does is to stabilize all the elements in it, and reduces the uncertainty that people confront. And the one thing all human beings do when they are confronted with uncertainty is pull back, withdraw, disengage, and that means economic activity, which is really dealing with people, just goes straight down.
Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
Migrants make huge contributions to both their host countries and countries of origin. They take jobs that local workforces cannot fill, boosting economic activity. Many are innovators and entrepreneurs.
Environmental quality was drastically improved while economic activity grew by the simple expedient of removing lead from gasoline - which prevented it from entering the environment.
GDP has been a con perpetrated upon the poor of the world: a measure of economic activity and not of actual wealth. What it masks is the way in which we transform their natural capital into our consumption through international rules that regard the ecosystem services upon which they rely as mere externalities.
Greece's unprecedented fiscal effort, which was more than planned, has triggered much larger contractions of economic activity and the tax base than the original program had assumed.
The importance of the Army Corps of Engineers to public safety and economic activity in Mississippi can't be understated.
The computer is a mechanism for acceleration: it accelerates economic activity, and this is eating up the world. It's eating up resources, it's processing, it's manufacturing, it's distributing, it's consuming. That's what the computer's real work does, and it does that 24/7, 365 days a year, non-stop, just to satisfy our own narrow needs.
To qualify as a recession, economic activity must decline in an absolute sense; a mere slowdown in real growth is not enough.
Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.
