Economic theory deals with two concepts, Value and Economy. Abstract reasoning regarding these concepts rests ultimately on mathematical concepts of quantity, time and energy. The three are inseparable, for quantity and time are dimensions of energy. The quantity relationships of energy, usually termed "statics," turn on the problem of the relation of the parts to the whole, while the time relationships, usually termed "dynamics," are the relations of a process that connects past, present and future.
John R. CommonsRelated topics
abstract dynamics future inseparable past present problem three turn value while relations partsRelated quotes
In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.
Kenneth Boulding
How thrilling to discover one had depths, how consoling to find them less polluted than the shallows, how encouraging to identify the enemy not as a fissure in the will but as a dead fetus in the specimen jar of the unconscious. My attention was being paternally led away from the excruciating present to the happy, healthy future that would be enabled by an analysis of the sick past, as though the priest had nothing to do but study old books and make bright forecasts, the present not worthy of notice.
Edmund White
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
Ron Paul
All the real money in investment will have to be made-as most of it has been in the past- not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.
Benjamin Graham
There are some places which, seen for the first time, yet seem to strike a chord of recollection. "I have been here before," we think to ourselves, "and this is one of my true homes." It is no mystery for those philosophers who hold that all which we shall see, with all which we have seen and are seeing, exists already in an eternal now; that all those places are home to us which in the pattern of our life are twisting, in past, present and future, tendrils of remembrance round our heart-strings.
Edmund Clerihew Bentley