Modern Economics Quotes

Modern economics and the welfare state borrowed heavily on the future.

.. the most intelligent defender of capitalism in the modern period is Friedrich Hayek.

In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.

Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.

while the modern historical school of economists appear to be only exploring the monuments of the past, they are really shaking the foundations of many of our institutions in the present.

This Government intends no injury to honest business. The processes we follow in seeking social justice do not, in adding to general prosperity, take from one and give to another. In this modern world, the spreading out of opportunity ought not to consist of robbing Peter to pay Paul. In other words, we are concerned with more than mere subtraction and addition. We are concerned with multiplication also -- multiplication of wealth through cooperative action, wealth in which all can share.

Here's what I don't think works: An economic system that was founded in the 16th century and another that was founded in the 19th century. I'm tired of this discussion of capitalism and socialism; we live in the 21st century; we need an economic system that has democracy as its underpinnings and an ethical code.

Think how modern economics presents work. Only labour that contributes to growth counts.

Kelsoism is not accepted by modern scientific economics as a valid and fruitful analysis of the distribution of income but rather it is regarded as an amateurish and cranky fad.

From the beginnings of modern monetary theory, in David Hume's marvelous essays of 1752, 'Of Money and Of Interest,' conclusions about the effect of changes in money have seemed to depend critically on the way in which the change is effected.

The modern economics of the theater is such that we write plays with fewer and fewer characters.

The modern economics of the newsroom don't support big investigative reporting staffs.

I know there's similar dissatisfaction in America. There's a lot of white people who come from blue collar backgrounds and who feel ill-equipped and badly served by modern economics and the modern job market.