"Australia is actually very good at digging things out of the ground, putting them on a ship and sending them overseas and paying a lot of money to buy them back as a finished good."
"By 1935, he had secured work in 1935 at the Kinlochleven aluminium plant, the same place where his father was employed as an accountant, but he was soon recruited as a junior manager by the Glasgow shipbuilding and engineering conglomerate William Beardmore and Company."
"Ought we therefore to consider a programme of reindustrialisation at least to get us some of the way back to where we used to be?"
"Not so long ago, I had to get a taxi from the centre of Guangzhou, a large city in southern China, to its local airport. The cost in Chinese money was £10. When I got back to Heathrow, I had to get a taxi to central London – about the same distance as the taxi ride in Guangzhou. The cost was £70."
"Quarantines prevent work. Finished products and parts cannot be made and shipped. Sales cannot take place without products to sell. Without revenues companies cannot pay employees and other expenses. Incomes decline across the world. Companies go bankrupt."
"The median net worth of households in the middle 20% of income rose 4% in inflation-adjusted terms to $81,900 between 1989 and 2016, the latest available data. For households in the top 20%, median net worth more than doubled to $811,860. And for the top 1%, the increase was 178% to $11,206,000."