A Quote by Adam Davidson

The economics profession advances by one confusing financial disaster at a time.

Adam Davidson

Quote Topics

Advances Confusing Disaster Economics Financial Profession Time

Quote Author

Adam Davidson
American - Journalist

Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode - the aftereffects of which still linger - has led many to question whether the economics profession contributes anything significant to society.

Robert J. Shiller

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.

Charlie Munger

If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.

Charles Koch

Women's battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.

Paula Nelson

The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.

Robert Kiyosaki

There is a big divergence between views on a variety of policy issues from fiscal stimulus to financial regulation. It's my hope and my ambition for the economics profession that as we advance our knowledge, that those discussions will narrow in their focus, and that it will help to have more prudent policy-making down the road.

Lars Peter Hansen

The moral values, ethical codes and laws that guide our choices in normal times are, if anything, even more important to help us navigate the confusing and disorienting time of a disaster.

Sheri Fink

In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.

Paul Samuelson

In my opinion, the United States and many Western nations have a financial disaster coming, caused by our educational system’s failure to adequately provide a realistic financial education program for students.

Robert Kiyosaki

Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.

Andrew Lo

For a variety of reasons, I have always felt myself an outsider. I don't know how to classify myself in economics. I am a loner. I do not like groupthink, which, if anything, has become more important in economics. In addition, a lot of the values I hold are not the mainstream values in the profession.

James Heckman

Financial products are the last thing in the world that should be confusing.

Baiju Bhatt

Taking a look back, one big reqret is, I left Harvard with no real awareness of the awful inequities in the world. The appalling disparities of health and wealth and opportunity that condemned millions of people to the lives of despair. I learned a lot here at Harvard about new ideas and economics, and politics. I got great exposure to the advances being made in the sciences. But humanities greatest advances are not in its discoveries, but in how those discoveries are applied to reduce inequity.

Bill Gates

My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.

Robert J. Shiller

My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.