In economics, the majority is always wrong.
In economics, the majority is always wrong.
The only function of economic forecasting is to make astrology look respectable.
Economics is extremely useful as a form of employment for economists.
One of the greatest pieces of economic wisdom is to know what you do not know.
People are the common denominator of progress. So ... no improvement is possible with unimproved people, and advance is certain whenpeople are liberated and educated. It would be wrong to dismiss the importance of roads, railroads, power plants, mills, and the otherfamiliar furniture of economic development.... But we are coming to realize ... that there is a certain sterility in economic monuments thatstand alone in a sea of illiteracy. Conquest of illiteracy comes first.
In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.
Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.
There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition...
The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.
© 2020 Inspirational Stories
© 2020 Inspirational Stories