Economic Theory Quotes
Most Famous Economic Theory Quotes of All Time!
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Every non-Marxist economic theory that treats human and non-human productive inputs as interchangeable assumes that the dehumanisation of human labour is complete. But if it could ever be completed, the result would be the end of capitalism as a system capable of creating and distributing value.
Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.
I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.
The tradition of Chicago price theory is a good one, and it is a low-tech methodology that tries to apply simple economic theory to the world.
Early economic theory was rooted in the Italian, French, and Spanish traditions, which were subjectivist oriented. Then it shifted onto the terrible path by Smith and Ricardo and the British classical tradition, which is 'objectivist' - values are in inherent in production.
Evidence and economic theory suggests that control of the Internet by the phone and cable companies would lead to blocking of competing technologies.
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.
The first issue to be settled is whether socialism has a right to exist Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.
We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own.
A lot of things that we cannot buy and sell in markets used to be totally legal objects of market exchange - human beings when we had slavery, child labour, human organs, and so on. So there is no economic theory that actually says that you shouldn't have slavery or child labour because all these are political, ethical judgments.
To put it bluntly, there isn't one economic theory that can single-handedly explain Singapore's success; its economy combines extreme features of capitalism and socialism. All theories are partial; reality is complex.
Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield a single price.
We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.
The fact is that during the post-1989 heyday of globalization optimism, political and business elites did not think enough about the prospect - plainly predicted in economic theory - that trade would harm some people even while leaving society as a whole better off. The result was overpromised benefits and inadequate adjustment plans.
Journalists, whose job is to pull back and tell dramatic stories that bring power into focus, find it impossible because things like economic theory are both incomprehensible and, above all, boring. The same is true of 'management science.'
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