Deirdre N. McCloskey Quotes & Sayings

Thus, it is suggested, a deeper understanding of the conditions affecting the speed and ultimate extent of an innovation's diffusion is to be obtained only by explicitly analyzing the specific choice of technique problem
which its advent would have presented to objectively dissimilar members of the relevant (historical) population of potential adopters. — Deirdre N. McCloskey

The change in rhetoric has constituted a revolution in how people view themselves and how they view the middle class, the Bourgeois Revaluation. People have become tolerant of markets and innovation. — Deirdre N. McCloskey

That businesspeople buy low and sell high in a particularly alert and advantageous way does not make them bad unless all trading is bad, unless when you yourself shop prudently you are bad, unless any tall poppy needs to be cut down, unless we wish to run our ethical lives on the sin of envy. — Deirdre N. McCloskey

One suspects that the conservatives of left and right don't much like the "mass" and its badly informed preferences. Let us take care of you, they cry. Let tradition celebrated by wise elders, or planning implemented by wise experts, guide you, oh you sadly misled mass. (The ruling lords and the monopolists view the clerisy's conservative theorizing with delight, resting assured that the elders and the planners will inadvertently shield their rents.) — Deirdre N. McCloskey

The emotional pattern seems to be something like, "[Karl] Polanyi, a person of the left like me, says many true things, beautifully. Therefore his tales about what happened in economic history must be true." Marx before him got similar treatment. Lately the more eloquent of the environmentalists, such as Wendell Berry, get it too. People want to believe that beauty is truth. A supporting emotional frame on the left arises from the very idea of historical progress: "We must be able to do so much better than this wretched capitalism." It is not true, but it motivates. — Deirdre N. McCloskey

Nor during the Age of Innovation have the poor gotten poorer, as people are always saying. On the contrary, the poor have been the chief beneficiaries of modern capitalism. It is an irrefutable historical finding, obscured by the logical truth that the profits from innovation go in the first act mostly to the bourgeois rich. — Deirdre N. McCloskey