![The general theory of economic equilibrium was strengthened and made effective as an organon of thought by two powerful subsidiary conceptions - the Margin and Substitution. The notion of the Margin was extended beyond [Utility]] to describe the equilibrium point in given conditions of any economic factor which can be regarded as capable of small variations about a given value, or in its functional relation to a given value. (John Maynard Keynes)](https://cdn.quotesdtb.com/img/quotes_images_webp/34/john-maynard-keynes-beyond-296534.webp)
The general theory of economic equilibrium was strengthened and made effective as an organon of thought by two powerful subsidiary conceptions - the Margin and Substitution. The notion of the Margin was extended beyond [Utility]] to describe the equilibrium point in given conditions of any economic factor which can be regarded as capable of small variations about a given value, or in its functional relation to a given value.
John Maynard KeynesRelated topics
beyond equilibrium factor functional general given point small subsidiary substitution thought utility valueRelated quotes
Three women were brought to the Singapore General Hospital, each in the same condition and needing a blood transfusion. The first, a Southeast Asian was given the transfusion but died a few hours later. The second, a South Asian was also given a transfusion but died a few days later. The third, an East Asian, was given a transfusion and survived. That is the X factor in development.
Lee Kuan Yew
The world is now unipolar and contains only one superpower. Canada shares a continent with that superpower. In this context, given our common values and the political, economic and security interests that we share with the United States, there is now no more important foreign policy interest for Canada than maintaining the ability to exercise effective influence in Washington so as to advance unique Canadian policy objectives.
Stephen Harper
Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which turn out to be wrong, but all of which ultimately point to the right answer. Now Keynes, in The General Theory of Employment, Interest and Money, set forth a hypothesis which was a beautiful one, and it really altered the shape of economics. But it turned out that it was a wrong hypothesis. That doesn't mean that he wasn't a great man!
Milton Friedman
The art of creation lies in the gift of perceiving the particular and generalizing it, thus creating the particular again. It is therefore a powerful transforming force and a generator of creative solutions in relation to a given problem. It is the currency of human exchanges, which enables the sharing of states of the soul and conscience, and the discovery of new fields of experience.
Yehudi Menuhin
To avert the danger [posed by theory] to life, Nietzsche could choose one of two ways: he could insist on the strictly esoteric character of the theoretical analysis of life-that is, restore the Platonic notion of the noble delusion-or else he could deny the possibility of theory proper and so conceive of thought as essentially subservient to, or dependent on, life or fate... If not Nietzsche himself, at any rate his successors [Heidegger] adopted the second alternative.
Leo Strauss