Country Quote by Margaret Thatcher
“When we hear (as we sometimes do) that (Russia's) economic output is about half the level of a decade ago or that real incomes have fallen sharply, it is worth recalling that economic statistics under the Soviet Union were hardly more reliable than any other official statements. Moreover, a country that produces what no one wants to buy, and whose workers receive wages that they cannot use to buy goods they want, is hardly in the best of economic health.”
About This Quote
Source Speech: Interview, 1990s, Margaret Thatcher
Economic data from the Soviet era were unreliable; low demand and unusable wages signal poor health.
In simple terms: Soviet stats unreliable; low demand hurts economy.
Key Takeaway
Question data quality and demand.
Themes
economics
politics
history
Mood
skeptical
critical
Type
analytical
informative
When to use this quote
- policy analysis
- academic research
- economic forecasting
- investment decisions
Key Concepts
statistics
market demand
wage purchasing power
Questions to Reflect On
- How can we verify economic data?
- What alternatives exist when wages are unusable?
A Different Perspective
Data may be biased or incomplete.
![“[When asked how it felt to be a female prime minister:] I don't know: I've never experienced the alternative.” quote by Margaret Thatcher](https://sms4smile.com/quotes/img-quotes/324/margaret-thatcher-463_alternatives_when-asked-how-it-felt-to-be-a-female-pr_15081.jpg)
![“That country [Carthage] was rapidly sinking into the state of barbarism from whence it had been raised by the Phoenician colonies and Roman laws; and every step of intestine discord was marked by some deplorable victory of savage man over civilized society.” quote by Edward Gibbon](https://sms4smile.com/quotes/img-quotes/70c/edward-gibbon-710_barbarism_that-country-carthage-was-rapidly-sinkin_393.jpg)
