Ken also identified the corporation, not "the market,” as the defining institution of modern economic activity, developing these and related themes both in his teaching and in such widely celebrated books as American Capitalism (1952) and The New Industrial State (1967). But his interest in these ideas persisted throughout his life. The central importance of the corporation, and the fear that government was no longer able to provide an adequate countervailing force against corporate influence exerted both legally and otherwise, was the subject of his last book, The Economics of Innocent Fraud.
Amartya SenRelated topics
able book central corporate corporation defining developing economics fear force government industrial innocent institution interest last longer market state teachingRelated quotes
We must no longer have a pacific conception of peace. In the Middle Ages it was otherwise. The existence of the individual had no exaggerated importance. Pacifist literature depicts death on the field of battle as an unnatural death because it does not understand the ancient Germanic horror of death on a bed, and arteriosclerosis appears to it more virile than a bullet. Pacifists dwell on the horrors of the war dead as if a peace corpse were more aesthetic. The representatives of the national revolution are men and soldiers who are physically and morally warriors.
Franz von Papen
I conclude by listing several main points of this essay:
1. Human capital is of great importance in the modern economy.
2. Human capital has become of much greater significance during the past two decades.
3. Human capital is crucial to the international division of labor.
4. Much unmeasured learning goes on in companies and by adults.
5. People need to invest in themselves during their whole lives.
6. Distance learning will become of crucial importance to the teaching and learning process.
7. Human capital stimulates technological innovations and the high-tech sector.
Gary Becker
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
Throughout his last half-dozen books, for example, Arthur Koestler has been conducting a campaign against his own misunderstanding of Darwinism. He hopes to find some ordering force, constraining evolution to certain directions and overriding the influence of natural selection. [...] Darwinism is not the theory of capricious change that Koestler imagines. Random variation may be the raw material of change, but natural selection builds good design by rejecting most variants while accepting and accumulating the few that improve adaptation to local environments.
Stephen Jay Gould
For two hundred and fifty years, from the second half of the eighteenth Century on, Capitalism was the dominant social reality. For the last Hundred years, Marxism was the dominant social ideology. Both are rapidly being superseded by a new and very different society. The new society – and it is already here – is a post-capitalist society... The center of gravity in the post-capitalist society – its structure, its social and economic dynamics, its social classes, and its social problems – is very different from the one that dominated the last two hundred and fifty years.
Henry Mintzberg