Unfortunately, the critics of economics have had a tendency to discuss the whole structure as a tissue of misconceptions. It is a critique that fails. The strength of economics is its considerable, if far from complete, understanding of the flows and comparative advantages that underlie trade, jobs, capital and incomes, and the logic of optimising behaviour, all backed by glittering accomplishment in mathematics. That makes it a powerful analytical instrument, so that just a few misconceptions – such as a failure to understand the informal economy or resource depletion – have leverage: like a baby monkey at the controls of a Ferrari, they can turn it into an instrument with extraordinarily destructive potential. If it were a tissue of errors, it would not be dangerous: it is its 90 percent brilliance which makes it so.
David FlemingRelated topics
baby comparative critique depletion economics failure far few leverage mathematics monkey strength tendency tissue trade turn underlie understanding FerrariRelated quotes
Development means a capacity for self-sustaining growth. It means that an economy must register advances which in turn will promote further progress. The loss of industry and skill in Africa was extremely small, if we measure it from the viewpoint of modern scientific achievements or even by standards of England in the late eighteenth century. However, it must be borne in mind that to be held back at one stage means that it is impossible to go on to a further stage. When a person was forced to leave school after only two years of primary school education, it is no reflection on him that he is academically and intellectually less developed than someone who had the opportunity to be schooled right through to university level. What Africa experienced in the early centuries of trade was precisely a loss of development opportunity, and this is of the greatest importance.
Walter Rodney
National weakness - real or perceived - can tempt aggression and thus cause war. That's why the United States cannot neglect its military strength. We must and we will remain strong. But with equal determination, the United States and all countries must find ways to control and reduce the horrifying danger that is posed by the world's enormous stockpiles of nuclear arms.
This has been a concern of every American president since the moment we first saw what these weapons could do. Our leaders will require our understanding and our support as they grapple with this difficult but crucial challenge. There is no disagreement on the goals or the basic approach to controlling this enormous destructive force. The answer lies not just in the attitudes or actions of world leaders, but in the concern and demands of all of us as we continue our struggle to preserve the peace.
Jimmy Carter
Our civilization depends on peace among Western nations, and therefore on united strength, for Peace is a virgin who dare not show her face without Strength, her father, for protection. We can have peace and security only so long as we band together to preserve that most priceless possession, our inheritance of European blood, only so long as we guard ourselves against attack by foreign armies and dilution by foreign races.
We need peace to let our best men live to work out those more subtle, but equally dangerous, problems brought by this new environment in which we dwell, to give us time to turn this materialistic trend, to stop prostrating ourselves before this modern idol of mechanical efficiency, to find means of combining freedom, spirit, and beauty with industrial life - a peace which will bring character, strength, and security back to Western peoples.
Charles Lindbergh
Well I'm not sure which ones you're talking about, but I can tell you the people who have looked at the charges that the Obama campaign comes out with, which is that somehow we outsourced jobs, they've said that those were false and misleading. That the ads are inaccurate. Some have given it multiple Pinocchios. The president keeps on trying to divert any attention he can from his failure to turn around the American economy, and that's what this campaign's about. But the president keeps on trying to find something about Bain which is simply not true. And I left Bain in February of 1999. People can point out how - I was in Salt Lake City for three straight years. I don't recall even coming back once to go to a Bain or management meeting. We were, I was out there running the Olympics and it was a full time job, I can tell you that.
Mitt Romney
North Koreans now understand that South Korea is very rich. It is true, but there is a great difference between vaguely understanding something and having such graphic images of neighbors' prosperity flooding your daily life. As is usually the case, such pictures are liable to be exaggerated at first. An outsider in a rich country usually cannot immediately see the contradictions, problems and tensions that exist behind the sparking, glistening, glitzy facade. For the North Koreans, this picture of the South Korean prosperity would likely be seen as vivid proof of the complete failure of their leadership. The North Korean elite cannot even use the usual trick of putting the blame at the doors of their predecessors: This elite is hereditary, so the buck cannot be easily passed.
Andrei Lankov