One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.
From Adam Smith through John Maynard Keynes, economics had been mostly talk. At Harvard economics was talk. At MIT, Samuelson made it math.william poundstone
As a result of its generous stand [Robert Maynard Hutchins’ controversial policy of admitting students after their second year of high-school], the University of Chicago’s undergraduate college acts as the greatest magnet for neurotic juveniles since the Children’s Crusade, with Robert Maynard Hutchins…playing the role of Stephen the Shepherd Boy.a. j. liebling
Only someone as puffed up and demented as John Maynard Keynes, every left wing fascist's sainted mentor in this connection, could manage to convince himself that taxing America's Productive Class can restore it to prosperity. In point of fact, it's like screwing for chastity, guzzling alcohol for sobriety, or gorging to fight gluttony. It's like killing indiscriminately for peace oops, Democrats, Republicans and their moral and spiritual ilk have devoutly believed that particular bit of perverse nonsense since at least the War of 1812.l. neil smith