Economy
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Lying on crossroads between numerous old and new states, Novi Pazar has always been a strong trade center. Along with the trade, the city developed manufacturing tradition. During the 20th century, it became a center of textile industry.
Paradoxically, during the turbulent 1990s and, Novi Pazar prospered, even during the UN sanctions, boosted by the strong private initiative in textile industry. Jeans of Novi Pazar, first of forged trademarks, and later on its own labels, became famous throughout the region. However, during the relative economic prosperity in Serbia of 2000s, the Novi Pazar economy collapsed, with demise of large textile combines in mismanaged privatization, and incoming competition from the import.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)