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
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
Economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.kenneth boulding
Mathematics brought rigor to Economics. Unfortunately, it also brought mortiskenneth boulding
Economics is on the side of humanity now.
Certainly if the fundamental problem of society is that demands are infinite and resources are always limited, politics, not Economics is the master science.bernard crick
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
One of the crucial problems we have as a party is that we have brought our leadership in from much too narrow a group. Basically Oxbridge graduates, in particular Economics graduates, politics graduates, social scientists and lawyers. We need to reconnect to working-class communities, we have to reconnect to ethnic minority communities and bring up real leaders from within the people we represent.glasman, maurice, baron glasman
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
Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in Economics at all, it must be in using academic methods to solve the problems posed by Marx.joan robinson
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
But when reason and the study of history began revealing the irrationality, the limitations, and the merely transitory nature of the capitalist order, bourgeois ideology as a whole and with it bourgeois Economics began abandoning both reason and history.paul a. baran
An emerging market is a country where politics matters at least as much as Economics to the market.ian bremmer
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
I'm going to be honest: I know a lot less about Economics than I do about military and foreign policy issues. I still need to be educated.john mccain
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
What makes Economics different from and inferior to other sciences is the tenacity with which it holds to its core beliefs in the face of either contrary factual evidence or theoretical critiques that establish fundamental inconsistencies in its intellectual apparatus.
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."
The purpose of studying Economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
[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."