Economist And Their Theory Quotes & Sayings

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

When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite. — Richard Thaler

Poetry is the exquisite expression of exquisite expressions. — Joseph Roux

In many ways, cartooning is my therapy. I've always said they're like my diaries. It's thoughts and feelings and things I've seen on any particular day. — Bruce Eric Kaplan

On the corporate side, the upshot of our data (the benefit to us) isn't all that interesting unless you're an economist. In theory, your data means ads are better targeted, which means less marketing spend is wasted, which means lower prices. At the very least, the data they sell means you get to use genuinely useful services like Facebook and Google without paying money for them. — Christian Rudder

Leo Hurwicz is the father of mechanism design theory and has inspired much of my work, and Roger Myerson is an old friend and collaborator and a tremendous economist. — Eric Maskin

When you work in such a surreal environment as movies, just listening to some tunes or hanging out with friends is what you crave. Even time alone. — Orlando Bloom

I'm sure you know by now, Jesse Jackson was overheard saying, and I'll put this more delicately, that he wanted to cut Barack Obama's testicles off. And Jesse has been on several news programs the last couple of days, explaining what he meant by those comments. Do you need to explain that? — Jay Leno

Don't think I'm talking nonsense because I'm drunk. I'm not a bit drunk. Brandy's all very well, but I need two bottles to make me drunk. — Fyodor Dostoyevsky

But Adam Smith was a philosopher as well as well as an economist, famous in his time as much for his Theory of Moral Sentiments as for The Wealth of Nations. And as he understood so well, society is more than the sum of its individual parts. — Paul Ormerod

I share your feeling that such behavior is, in some sense, unwise or erroneous, but this does not mean that it does not occur,' Amos wrote to an American economist who complained about the description of human nature implied by 'Value Theory.' 'A theory of vision cannot be faulted for predicting optical illusions. Similarly, a descriptive theory of choice cannot be rejected on the grounds that it predicts 'irrational behavior' if the behavior in question is in fact observed. — Michael Lewis

It is obvious that the monetary union among 17 very different European countries does not work. As an economist, I know that the Eurozone is not an optimum currency area, as defined in economic theory. — Vaclav Klaus

The absurdity of public-choice theory is captured by Nobel Prize-winning economist Amartya Sen in the following little scenario: "Can you direct me to the railway station?" asks the stranger. "Certainly," says the local, pointing in the opposite direction, towards the post office, "and would you post this letter for me on your way?" "Certainly," says the stranger, resolving to open it to see if it contains anything worth stealing. — Linda McQuaig

Today is the first day and last day of your life ... try to make every day a masterpiece. — Mark Batterson

The gulf between their world and hers had manifested itself, however much they'd meditated on how to ball her, and remained. — Philip K. Dick

The first proponent of cortical memory networks on a major scale was neither a neuroscientist nor a computer scientist but .. a Viennes economist: Friedrich von Hayek (1899-1992). A man of exceptionally broad knowledge and profound insight into the operation of complex systems, Hayek applied such insight with remarkable success to economics (Nobel Prize, 1974), sociology, political science, jurisprudence, evolutionary theory, psychology, and brain science (Hayek, 1952). — Joaquin Fuster

What the Metaphysics of Quality would do is take this separate category, Quality, and show how it contains within itself both subjects and objects. The Metaphysics of Quality would show how things become enormously more coherent-fabulously more coherent-when you start with an assumption that Quality is the primary empirical reality of the world ... but showing that, of course, was a very big job ... — Robert M. Pirsig

The economists will have to revise their theories of value. — Albert Einstein

I heard my pastor say once, when there were only a few of us standing around, that he hated Bill Clinton. I can understand not liking Clinton's policies, but I want my spirituality to rid me of hate, not give me reason for it. I couldn't deal with that. — Donald Miller

I wasn't old enough to realize that I could be my terrible self and have people love me for that. — Kelly Oxford

If a traveller was to feel personally involved with (rather than guiltily obedient towards) 'the walls and ceilings of the church decorated with nineteenth-century frescoes and paintings ... ', he or she would have to be able to connect these facts
as boring as a fly
with one of the large, blunt questions to which genuine curiosity must be anchored. — Alain De Botton

An economist is someone who sees something that works in practice and wonders if it would work in theory. — Ronald Reagan

The free-market economist Friedrich von Hayek once said that "without a theory, the facts are silent." But for Greenspan, with his theory, the facts became invisible. — Anonymous

An economist is a man who, when he finds something works in practice, wonders if it works in theory. — Walter Heller

One of the best predictors of policy around is Thomas Ferguson's investment theory of politics, as he calls it - very outstanding political economist - which essentially - I mean, to say it in a sentence, he describes elections as occasions in which groups of investors coalesce and invest to control the state. — Noam Chomsky

However much the theory of political realism may have been misunderstood and misinterpreted, there is no gainsaying its distinctive intellectual and moral attitude to matters political.
Intellectually, the political realist maintains the autonomy of the political sphere, as the economist, the lawyer, the moralist maintain theirs. He thinks in terms of interest defined as power, as the economist thinks in terms of interest defined as wealth; the lawyer, of the conformity of action with legal rules; the moralist, of the conformity of action with moral principles. The economist asks: "How does this policy affect the wealth of society, or a segment of it?" The lawyer asks: "Is this policy in accord with the rules of law?" The moralist asks: "Is this policy in accord with moral principles?" And the political realist asks: "How does this policy affect the power of the nation? — Hans J. Morgenthau

Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory. — William Stanley Jevons