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Literacy quote of the week: “We have always known that heedless self interest was bad morals, we now know that it is bad economics.”

FDR

This week’s literacy quote comes from the Economics department. They have chosen a quote from former US president Franklin D. Roosevelt, delivered during his second inaugural as US president address in 1937.

“We have always known that heedless self interest was bad morals, we now know that it is bad economics.”

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Roosevelt’s quote, now 81 years old, rings as true today as it reminds of the importance of both moral and ethical approaches to the pursuit of economic development and growth.