I have not been able to lay my hands on any notes as to Mathematico-economics that would be of any use to you. I have very indistinct memories of what I used to think on the subject. I never read mathematics now: in fact I have even forgotten how to integrate a good many things. But I know I had a growing feeling in the later years of my work at the subject that a good mathematical theorem dealing with economic hypotheses was very well unlikely to be good economics: and I went more and more on the rules-(1) Use mathematics as a shorthand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real life. (5) Burn the mathematics. (6) If you can't succeed in (4), burn (3). This last I do often.
Alfred MarshallRelated topics
able burn done economics engine english forgotten went good growing hypothesis language last later lay mathematics now read real shorthand theorem till translate use well work years hands things NOTES RulesRelated quotes
The critics have no historical sense. I have no Cabinet papers by me and do not want to trust my memory. But recall the Fulham election, the Peace Ballot, Singapore, sanctions, Malta. The English will only learn by example. When I first heard of Hitler, when Ribbentrop came to see me, I thought they were all crazy. I think I brought Ramsay and Simon to meet Ribbentrop. Remember that Ramsay's health was breaking up in the last two years. He had lost his nerve in the House in the last year. I had to take all the important speeches. The moment he went I prepared for a General Election and got a bigger majority for re-armament. No power on earth could have got re-armament without a General Election except by a big split. Simon was inefficient. I had to lead the House and keep the machine together with those Labour fellows.
Stanley Baldwin
I gave up on this stuff. I gave up on my species and ... I gave up on my countrymen. Because I think we squandered great gifts. I think humans were given great great gifts: walking upright, binocular vision, opposable thumb, large brain ... We grew. We had great gifts, and we gave it all up for both money and God ... We gave it all up to superstition, primitive superstition, primitive shit ... Invisible man in the sky, looking down, keeping track of what we do, make sure we don't do the wrong thing, if we do, he puts us in hell, where we burn forever. That kind of shit is very limiting for this brain we have. So we keep ourselves limited. And then we want a toy and a gizmo and gold and we want shiny things, and we want something to plug in that will make big big big things for us... And all that shit is nothing! It's nothing.
George Carlin
For what advantage is it, that the world enjoys profound peace, if thou art at war with thyself? This then is the peace we should keep. If we have it, nothing from without will be able to harm us. And to this end the public peace contributes no little: whence it is said, ‘That we may lead a quiet and peaceable life.' But if any one is disturbed when there is quiet, he is a miserable creature. Seest thou that He speaks of this peace which I call the third (inner, ed.) kind? Therefore when he has said, ‘that we may lead a quiet and peaceable life,' he does not stop there, but adds ‘in all godliness and honesty.' But we cannot live in godliness and honesty, unless that peace be established. For when curious reasonings disturb our faith, what peace is there? or when spirits of uncleanness, what peace is there?
John Chrysostom
If Christ were to walk in this world today, do you know what would happen to Him? He would be placed in a mental institution and given psycho-therapy, just as would His Saints. The world would crucify Him today just as it did 2000 years ago, for the world has not learned a thing, except more devious forms of hypocrisy. And what would happen if, in one of my classes at the university, I would one day tell my students that all the learning of this world is of no importance beside the duty of worshipping God, accepting the God-man who died for our sins, and preparing for the life of the world to come? They would probably laugh at me, and the university officials, if they found out, would fire me-for it is against the law to preach the Truth in our universities. We say that we live in a Christian society, but we do not: we live in a society.
Seraphim Rose
With the publication of J. M. Keynes's General Theory in 1936 and the mathematical formalizations of his theory by J. R. Hicks (1937) and others, the language of macro-economic theory became systems of simultaneous equations. These are general equilibrium systems of interdependence in the sense that the relationships describe an entire national economy, not just a particular industry or sector. The systems are usually not completely closed; they depend on exogenous parameters including instruments controlled by policy-makers. Seeking definite relationships of economic outcomes to policies and other exogenous variables, qualitative and quantitative, these models sacrifice detail and generality, limiting the number of variables and equations by aggregations over agents, commodities, assets, and time.
James Tobin