Economics Quotes - page 4
No organism can afford to be conscious of matters with which it could deal at unconscious levels. Broadly, we can afford to sink those sorts of knowledge which continue to be true regardless of changes in the environment, but we must maintain in an accessible place all those controls of behavior which must be modified for every instance. The economics of the system, in fact, pushes organisms toward sinking into the unconscious those generalities of relationship which remain permanently true and toward keeping within the conscious the pragmatic of particular instances.
Gregory Bateson
A religious phenomenon will only be recognized as such if it is grasped at its own level, that is to say, if it is studied as something religious. To try to grasp the essence of such phenomenon by means of physiology, psychology, sociology, economics, linguistics, art or any other study is false; it misses the one unique and irreducible element in it - the element of the sacred.
Mircea Eliade
Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which turn out to be wrong, but all of which ultimately point to the right answer. Now Keynes, in The General Theory of Employment, Interest and Money, set forth a hypothesis which was a beautiful one, and it really altered the shape of economics. But it turned out that it was a wrong hypothesis. That doesn't mean that he wasn't a great man!
Milton Friedman
Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may well be that the slovenly and literary borderland between economics and sociology will be the most fruitful building ground during the years to come and that mathematical economics will remain too flawless in its perfection to be very fruitful.
Kenneth Boulding
Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole house or nothing at all. In so laying down its life welfare economics may be able to contribute some of its insights and analytical methods to a much broader evaluative analysis of the whole social process.
Kenneth Boulding
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
It is almost as hard to define mathematics as it is to define economics, and one is tempted to fall back on the famous old definition attributed to Jacob Viner, "Economics is what economists do," and say that mathematics is what mathematicians do. A large part of mathematics deals with the formal relations of quantities or numbers.
Kenneth Boulding
We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income. And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped.
Kalle Lasn
The beginning of the twentieth century witnessed the breakdown of the mechanistic theory even within physics, the science where it was the most successful... Relativity took over in field physics, and the science of quantum theory in microphysics... In view of parallel developments in physics, chemistry, biology, sociology, and economics, many branches of the contemporary sciences became... ‘sciences of organized complexity' - that is, systems sciences.
Ervin László