Neither economic liberalism nor Keynesianism can conceptualise vocation, virtue or labour value as economic categories, neither can give a primary economic value to intermediate institutions, whether they be the corporate governance of a firm, vocational colleges, regional banks or supporter owned football clubs, they can only conceptualise the state or the market and all forms of particular association are viewed as at best "cultural” or at worst "obstructive”. They can give no conceptual status to place, to the specificity of place and the necessity of institutions in generating virtue and value within it.
Maurice Glasman, Baron GlasmanRelated topics
best corporate intermediate liberalism market necessity nor place primary regional state value virtue vocation worst Keynesianism labour specificityRelated quotes
Pop art is neither an American invention nor an import, yet the terms and names were coined in the US, where they were popularised much faster than in Germany. This kind of art has evolved organically and independently over here, yet at the same time it becomes an analogy to American pop art due to certain psychological, cultural and economical preconditions that are the same in Germany as they are in the US.. ..For the first time we are showing paintings in Germany that relate to those terms, representing pop art, junk culture, imperial or capitalistic realism, new figuration, naturalism, German pop and other comparable terms.
Gerhard Richter
Around 1958, I became aware of H. A. Simon's seminal papers on bounded rationality and was immediately convinced by his arguments. I tried to construct a theory of boundedly rational multigoal decision making. Together with Heinz Sauermann, I worked out an "aspiration adaptation theory of the firm" which was published as a journal article in 1962... More and more I came to the conclusion that purely speculative approaches like that of our paper of 1962 are of limited value. The structure of boundedly rational economic behavior cannot be invented in the armchair, it must be explored experimentally.
Reinhard Selten
One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation... The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.
Tjalling Koopmans
In particular, a free market and capitalism, both subject to state control, are now being permitted and are developing; on the other hand, the socialised state enterprises are being put on what is called a profit basis, i. e., they are being reorganised on commercial lines, which, in view of the general cultural backwardness and exhaustion of the country, will, to a greater or lesser degree, inevitably give rise to the impression among the masses that there is an antagonism of interest between the management of the different enterprises and the workers employed in them.
Vladimir Lenin
Progress in these policies can only be brought about if a considerable degree of consensus exists within our country. I have heard some doubt expressed as to what consensus means...Consensus means deliberately setting out to achieve the widest possible measure of agreement about our national policies, in this particular case about our economic activities, in the pursuit of a better standard of living for our people and a happier and more prosperous country. If there be any doubt about the desirability of working towards such a consensus let us recognize that every successful industrialized country in the modern world has been working on such a basis.
Edward Heath