In principle, every social situation involves strategic interaction among the participants. Thus, one might argue that proper understanding of any social situation would require game-theoretic analysis. But in actual fact, classical economic theory did manage to sidestep the game-theoretic aspects of economic behavior by postulating perfect competition, i. e., by assuming that every buyer and every seller is very small as compared with the size of the relevant markets, so that nobody can significantly affect the existing market prices by his actions.
John HarsanyiRelated topics
buyer classical interaction market might nobody perfect proper seller situation size small thus understanding sidestepRelated quotes
It is clear, then, that the idea of a fixed method, or of a fixed theory or rationality, rests on too naive a view of man and his social surroundings. To those who look at the rich material provided by history, and who are not intent on impoverishing it in order to please their lower instincts, their craving for intellectual security in the form of clarity, precision, "objectivity", "truth", it will become clear that there is only one principle that can be defended under all circumstances and in all stages of human development. It is the principle: anything goes.
Paul Karl Feyerabend
Tools arm the man. One can well say that man is capable of bringing forth a world; he lacks only the necessary apparatus, the corresponding armature of his sensory tools. The beginning is there. Thus the principle of a warship lies in the idea of the shipbuilder, who is able to incorporate this thought by making himself into a gigantic machine, as it were, through a mass of men and appropriate tools and materials. Thus the idea of a moment often required monstrous organs, monstrous masses of materials, and man is therefore a potential, if not an actual creator.
Novalis
Economic analysis is the first principle of Marxism. Professors who were genuine leftists would have challenged the entire economics-driven machinery of American academe the wasteful multidepartmental structure, the divisive pedantry of overspecialization, the cronyism and sycophancy in recruitment and promotion, the boondoggling ostentation of pointless conferences, the exploitation of graduate students and part-time teachers, the subservience of faculty to overpaid administrators, the mediocrity and folly of the ruling cliques of the Modern Language Association.
Camille Paglia
The Western approach to reality is mostly through theory, and theory begins by denying reality - to talk about reality, to go around reality, to catch anything that attracts our sense-intellect and abstract it away from reality itself. Thus philosophy begins by saying that the outside world is not a basic fact, that its existence can be doubted and that every proposition in which the reality of the outside world is affirmed is not an evident proposition but one that needs to be divided, dissected and analyzed. It is to stand consciously aside and try to square a circle.
Bruce Lee
The presently existing global financial and monetary system will disintegrate during the near term. The collapse might occur this spring, or summer, or next autumn; it could come next year; it will almost certainly occur during President William Clinton's first term in office; it will occur soon. That collapse into disintegration is inevitable, because it could not be stopped now by anything but the politically improbable decision by leading governments to put the relevant financial and monetary institutions into bankruptcy reorganization.
Lyndon LaRouche