In economics, unlike fiction and the theater, there is no harm in a premature disclosure of the plot: it is to see the changes just mentioned and others as an interlocked whole.
The fundamental differences between Marxian and traditional orthodox Economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.joan robinson
Economics never was a dismal science. I should be a realistic science.paul samuelson
Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may well be that the slovenly and literary borderland between Economics and sociology will be the most fruitful building ground during the years to come and that mathematical Economics will remain too flawless in its perfection to be very fruitful.kenneth boulding
Economics are the method; the object is to change the heart and soul.margaret thatcher
This is a crisis that was caused by people, white with blue eyes. And before the crisis they looked as if they knew everything about Economics.luiz inácio lula da silva
The close relationship between politics and Economics is neither neutral nor coincidental. Large governments evolve through history in order to protect large accumulations of property and wealth.michael parenti
I work in the field of art, and you know how during a period of Marxist ideology, fewer people are inclined to believe in the power of the culture as a whole: they believe in the revolutionary potential of Economics, class struggle theory...Therefore it’s time to show that art means the power of creativity, and it’s time to define art in a larger way, to include science and religion too.joseph beuys
Any system of Economics is bankrupt if it sees either value or virtue in unemployment.jimmy carter
Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than Economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.l. neil smith
Unlike the position that exists in the physical sciences , in Economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important ones.friedrich hayek
Religion and art spring from the same root and are close kin. Economics and art are strangers.willa cather
Mathematics brought rigor to Economics. Unfortunately, it also brought mortiskenneth boulding
Economics is on the side of humanity now.
Reflecting an amalgam of Economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.richard arnold epstein
"The idea of the feudal system is that the people on the top take care of the needs of those on the bottom, but I have seldom seen it work that way," Wicked said."Yeah," I said, "it's like trickle-down Economics; it only works if the people at the top are really good, decent people. The system is only as good as the people in power."laurell k. hamilton
The doctrine of population has been conspicuously absent, not because I doubt in the least its truth and vast importance, but because it forms no part of the direct problem of Economics.thomas malthus
The orthodox doctrines of Economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.joan robinson
By elevating the dictum of the market to the role of the sole criterion of rationality and efficiency, Economics denies even all "respectability" to the distinction between essential and non-essential consumption, between productive and unproductive labor, between actual and potential surplus.paul a. baran
An emerging market is a country where politics matters at least as much as Economics to the market.ian bremmer
Unless the fundamental categories of Economics such as ‘property’ were to be redefined in a radically personal way the liberal rationalist curse which had established Economics as a scientific discipline cut off from human interests would proliferate. Economic models … have failed to incorporate any meaningful index of individual benefit other than the original utilitarian one, … the index of increasing income or an increasing flow of commodities.john carroll
The change began with John Stuart Mill and the Utopians . When Mill pointed out that Economics had no ultimate solution to the problem of distribution , that society might do with the fruits of its toil as it saw fit, he introduced into the mechanical calculus of the market a conflicting calculus of moral judgment.robert heilbroner
Keynes was to Economics as Katrina was to New Orleans.ilana mercer
Litmus test: If you can't describe Ricardo 's Law of Comparative Advantage and explain why people find it counterintuitive, you don't know enough about Economics to direct any criticism or praise at " capitalism " because you don't know what other people are referring to when they use that word .eliezer yudkowsky
The obsession with equilibrium has imposed enormous costs on Economics.Steve Keen
Information management is the direct progney of information technology. No wonder, some critics have identified it with information Economics. The world of information management is a world of inputs and outputs, in which value additions are the ultimate criteria."
Herbert A. Simon's scientific output goes far beyond the disciplines in which he has held professorships: political science, administration, psychology and information sciences. He has made contributions in the fields of science theory, applied mathematics, statistics, operations research, Economics and business and public administration (and), in all areas in which he has conducted research, Simon has had something of importance to say."
History shows that where ethics and Economics come in conflict, victory is always with Economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them.
[Engineering concerns] the creative application of scientific principles to design or develop structures, machines, apparatus, or manufacturing processes, or works utilizing them singly or in combination; or to construct or operate the same with full cognizance of their design; or to forecast their behavior under specific operating conditions; all as respects an intended function, Economics of operation and safety to life and property."