From the beginning I could not believe that the "efficient market” hypothesis was dependent on a pure Brownian motion white noise or any truly random random walk. Place a minuscule colloidal molecule on a horizontal table that covers unlimited acres. Bombard it from every direction with thousands of minute atoms; and then if you wait long enough that original molecule can have traveled a billion miles in one direction. That's truly a random Bachelier-Einstein walk, but not my notion of economic fluctuations.
Paul SamuelsonRelated topics
beginning believe billion direction enough horizontal hypothesis market minuscule minute molecule noise place pure table wait walk white covers milesRelated quotes
No academy could have given me all I discovered by getting my teeth into the exhibitions, the shop windows, and the museums of Paris . Beginning with the market - where, for lack of money, I bought only a piece of a long cucumber - the workman in his blue overall, the most ardent followers of Cubism, everything showed a definite feeling for proportion, clarity, an accurate sense of form, of a more painterly kind of painting, even in the canvases of second-rate artists.
Marc Chagall
A child free from the guilt of ownership and the burden of economic competition will grow up with the will to do what needs doing and the capacity for joy in doing it. It is useless work that darkens the heart. The delight of the nursing mother, of the scholar, of the successful hunter, of the good cook, of the skilful maker, of anyone doing needed work and doing it well, - this durable joy is perhaps the deepest source of human affection and of sociality as a whole.
Ursula K. Le Guin
The man who has struggled bravely with the passions of the body, has fought ably against unclean spirits, and has expelled from his soul the conceptual images they provoke, should pray for a pure heart to be given him and for a spirit of integrity to be renewed within him (cf. Ps. 51:10). In other words, he should pray that by grace he may be completely emptied of evil thoughts and filled with divine thoughts, so that he may become a spiritual world of God, splendid and vast, wrought from moral, natural and theological forms of contemplation.
Maximus the Confessor
Unbelievers, those who believe with difficulty, or believe in part, are those who do not show their faith through works. Apart from works the demons also believe (cf. Jms. 2:19) and confess Christ to be God and Master. 'We know Who You are' (Mk. 1:24), they say, 'You are the Son of God' (Mt. 8:29), and elsewhere, 'These men are the servants of the Most High God' (Acts 16:17). Yet such faith will not benefit the demons, nor even humans. This faith is of no use, for it is dead.
Symeon the New Theologian
The atoms in the philosophy of do not move merely by chance. Leucippus seems to have believed in complete determinism, since he is known to have said: "Naught happens for nothing, but everything from a ground and of necessity." The atomists did not give any reason for the original motion of the atoms, which just shows that they thought of a causal description of the atomic motion; causality can only explain later events by earlier events, but it can never explain the beginning.
Werner Heisenberg