--- title: "Meaning & Key Takeaway of: Will capitalist economies operate at full…" description: "\"Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not,\" — Janet Yellen" image: "https://sms4smile.com/quotes/i/444/janet-yellen-2828_absence_will-capitalist-economies-operate-at-ful_1546030.png" --- # Will capitalist economies operate at full employment in… ![“Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not,” quote by Janet Yellen](https://sms4smile.com/quotes/i/444/janet-yellen-2828_absence_will-capitalist-economies-operate-at-ful_1546030.png) [Download](https://sms4smile.com/quotes/i/444/janet-yellen-2828_absence_will-capitalist-economies-operate-at-ful_1546030.png) [Open image](https://sms4smile.com/quotes/i/444/janet-yellen-2828_absence_will-capitalist-economies-operate-at-ful_1546030.png) > “Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not,” [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Full employment is unlikely without active policy tools; markets alone won’t sustain it. **In simple terms:** Markets need help to keep everyone employed. Key Takeaway Implement stabilizing policies. Themes economics employment policy Mood analytical concerned Type policy economic When to use this quote - government budgeting - central bank actions - labor market analysis - social safety nets Key Concepts Keynesianism market failure Questions to Reflect On - How can we balance intervention with market freedom? - What are the risks of over‑reliance on policy? A Different Perspective Policy may be politically contentious and costly. ★ ★ ★ ★ ★ No ratings yet [Absence](https://sms4smile.com/quotes/about/absence/) [Capitalism](https://sms4smile.com/quotes/about/capitalism/) [Capitalist economy](https://sms4smile.com/quotes/about/capitalist-economy/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economies](https://sms4smile.com/quotes/about/economies/) [Economy](https://sms4smile.com/quotes/about/economy/) [Employment](https://sms4smile.com/quotes/about/employment/) [Intervention](https://sms4smile.com/quotes/about/intervention/) [Routine](https://sms4smile.com/quotes/about/routine/) ## Related quotes > [Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Are deviations from full employment a social problem? Obviously.](https://sms4smile.com/quotes/janet-yellen/will-capitalist-economies-operate-at-full-employment-in-the-absence/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Do policy makers have the knowledge and ability to…](https://sms4smile.com/quotes/janet-yellen/will-capitalist-economies-operate-at-full-employment-in-the-absence-3/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Productivity - the amount of output delivered per hour of work in the economy - is often viewed as the engine of progress in…](https://sms4smile.com/quotes/tim-jackson/productivity-the-amount-of-output-delivered-per-hour-of-work-in-the/) [Tim Jackson](https://sms4smile.com/quotes/author/tim-jackson/) > [Our tragedy today is not just that millions of people who called themselves communist or socialist were physically liquidated in Vietnam, Indonesia, Iran, Iraq,…](https://sms4smile.com/quotes/arundhati-roy/our-tragedy-today-is-not-just-that-millions-of-people-who-called/) [Arundhati Roy](https://sms4smile.com/quotes/author/arundhati-roy/) > [If we looked in the world of 1945 and looked at the map of capitalist economies and democratic polities, they were the rare exception,…](https://sms4smile.com/quotes/ashraf-ghani/if-we-looked-in-the-world-of-1945-and-looked-at-the-map-of-capitalist/) [Ashraf Ghani](https://sms4smile.com/quotes/author/ashraf-ghani/) > [The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.](https://sms4smile.com/quotes/james-tobin/the-miserable-failures-of-capitalist-economies-in-the-great/) [James Tobin](https://sms4smile.com/quotes/author/james-tobin/) > [Between the Great Depression and the 1970s, private business was viewed with suspicion even in most capitalist economies. Businesses were, so the story goes,…](https://sms4smile.com/quotes/ha-joon-chang/between-the-great-depression-and-the-1970s-private-business-was/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [While admirers of capitalism, we also to a certain extent believe it has limitations that require government intervention in markets to make them work.](https://sms4smile.com/quotes/janet-yellen/while-admirers-of-capitalism-we-also-to-a-certain-extent-believe-it/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [“He did not foresee that in a predatory capitalist economy, state intervention would be an absolute necessity to preserve human existence and to prevent…](https://sms4smile.com/quotes/noam-chomsky/he-did-not-foresee-that-in-a-predatory-capitalist-economy-state/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Capitalism has created a situation called scarcity. And that scarcity is not natural, it's socially induced. 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Northrup Buechner > [“When it comes down to it, what are being traded in a capitalist economy are property rights—the ownership rights in goods and services.”](https://sms4smile.com/quotes/thomas-j-dilorenzo/when-it-comes-down-to-it-what-are-being-traded-in-a-capitalist/) [Thomas J. DiLorenzo](https://sms4smile.com/quotes/author/thomas-j-dilorenzo/) > [What both the state and the capitalist economy oppose is an understanding of what might be called "the true nature of things" (using the…](https://sms4smile.com/quotes/richard-a-falk/what-both-the-state-and-the-capitalist-economy-oppose-is-an/) [Richard A. Falk](https://sms4smile.com/quotes/author/richard-a-falk/) > [The crucial role of the rich in a capitalist economy is... to invest; to provide unencumbered and unbureaucratized cash.](https://sms4smile.com/quotes/george-gilder/the-crucial-role-of-the-rich-in-a-capitalist-economy-is-to-invest-to/) [George Gilder](https://sms4smile.com/quotes/author/george-gilder/) ## More by Janet Yellen > [Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.](https://sms4smile.com/quotes/janet-yellen/nationally-the-share-of-mortgages-that-are-underwater-fell-by-about/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Are deviations from full employment a social problem? Obviously.](https://sms4smile.com/quotes/janet-yellen/will-capitalist-economies-operate-at-full-employment-in-the-absence/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and…](https://sms4smile.com/quotes/janet-yellen/individuals-out-of-work-for-an-extended-period-can-become-less/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms…](https://sms4smile.com/quotes/janet-yellen/for-decades-the-pace-of-technological-change-in-manufacturing-has/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow…](https://sms4smile.com/quotes/janet-yellen/for-my-own-part-i-did-not-see-and-did-not-appreciate-what-the-risks/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [It's important for market participants to have a sense of how we think about the economy and the appropriate path of policy, to look…](https://sms4smile.com/quotes/janet-yellen/it-s-important-for-market-participants-to-have-a-sense-of-how-we/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [If there is a job that you feel passionate about, do what you can to pursue that job; if there is a purpose about…](https://sms4smile.com/quotes/janet-yellen/if-there-is-a-job-that-you-feel-passionate-about-do-what-you-can-to/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Although we work through financial markets, our goal is to help Main Street, not Wall Street.](https://sms4smile.com/quotes/janet-yellen/although-we-work-through-financial-markets-our-goal-is-to-help-main/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [I felt that the Fed had always been the agency that picked up the pieces when there was a financial crisis, and it was…](https://sms4smile.com/quotes/janet-yellen/i-felt-that-the-fed-had-always-been-the-agency-that-picked-up-the/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [Increased business sales would almost certainly raise the productive capacity of the economy by encouraging additional capital spending, especially if accompanied by reduced uncertainty…](https://sms4smile.com/quotes/janet-yellen/increased-business-sales-would-almost-certainly-raise-the-productive/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) > [There were a lot of manufacturing jobs lost over a long period of time and particularly after - during the Great Recession. 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We have a tremendously dedicated staff... They feel proud to work for the…](https://sms4smile.com/quotes/janet-yellen/to-me-the-greatest-asset-of-the-fed-is-the-people-we-have-a/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) [Explore all 148 Janet Yellen quotes ](https://sms4smile.com/quotes/author/janet-yellen/) ## More Absence quotes > [Distance sometimes endears friendship, and absence sweeteneth it.](https://sms4smile.com/quotes/james-howell/distance-sometimes-endears-friendship-and-absence-sweeteneth-it/) [James Howell](https://sms4smile.com/quotes/author/james-howell/) > [The work, the work, the work. This is what the business is all about. This is the fun, the glory, the pleasure. 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