Simon Kuznets Quotes


War and peace type products... cannot be added into a national product total until the differences in the valuation due to differences in the institutional mechanisms that determine their respective market prices are corrected for.


Citations

Kuznets, Simon. National Product in Wartime. National Bureau of Economic Research, 1945.

Related Quotes

This is a particularly important quotation about the Civil War. General Sherman is usually credited with the idea of rapid, extensive warfare causing surrender and an end to war. (To some today even he is blamed for this doctrine.) However, the basis of this was in the code of the United States Army that was issued to Sherman and all other officers and approved by the General Staff and President Lincoln. Sherman, was probably the first military officer in modern history to actually implement such a policy but he did not originate it.


MacArthur wanted to widen the Korean war and use nuclear weapons against Communist China, after erroneously assuring Truman and other American leaders that his tactics in North Korea would not cause Chinese troops to enter the war. MacArthur would not obey the orders of the civilian government and was thus fired.


Simon Kuznets
Simon Kuznets
  • Born: April 30, 1901
  • Died: July 8, 1985
  • Nationality: American, Russian
  • Profession: Economist