The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. The bad economists sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.
Henry HazlittRelated topics
bad beyond course economist eye given good longer looksRelated quotes
I've seen a lot of patriots and they all died just like anybody else if it hurt bad enough and once they were dead their patriotism was only good for legends it was bad for their prose and made them write bad poetry. If you are going to be a great patriot i.e. loyal to any existing order of government (not one who wishes to destroy the existing for something better) you want to be killed early if your life and works won't stink.
Ernest Hemingway
Physical pleasure is a sensual experience no different from pure seeing or the pure sensation with which a fine fruit fills the tongue it is a great unending experience, which is given us, a knowing of the world, the fullness and the glory of all knowing. And not our acceptance of it is bad the bad thing is that most people misuse and squander this experience and apply it as a stimulant at the tired spots of their lives and as distraction instead of a rallying toward exalted moments.
Rainer Maria Rilke
A good deal of my research in physics has consisted in not setting out to solve some particular problem, but simply examining mathematical equations of a kind that physicists use and trying to fit them together in an interesting way, regardless of any application that the work may have. It is simply a search for pretty mathematics. It may turn out later to have an application. Then one has good luck. At age 78.
Paul Dirac
No one can deny that today the major cause of the inflation from which we are suffering is the excessive wage demands... It is the responsibility of an employer, direct or indirect...if they go their own way and accede to irresponsible wage demands which damage their own firms and create a loss of jobs for those who work in them, then the Government are certainly not going to step in and rescue them from the consequences of their own actions.
Edward Heath
The further away a scholarly opinion is from direct observation and the more abstract and ‘theoretical' it is, the more defenseless it becomes against insidious opportunist errors of judgment. In economics, model thinking in particular creates scope for systematic biases... But of course all social studies must nevertheless aim at generalization. It is thus important to be able to think concretely at the same time, as I learnt from Gustav Cassel.
Gunnar Myrdal