A Quote by Catherine Camus
Today this is what we are confronted with, I mean what is pure ideology, which takes no account of the human context. In economics it's the same. Economics wanted to take into account theory over and above human criteria, or the parameter 'man'.
Related Quotes
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
Mainstream economics scholarship produces theory without facts ("pure theory") and facts without theory ("applied economics").
What would it mean if there were a theory that explained everything? And just what does "everything" actually mean, anyway? Would this new theory in physics explain, say the meaning of human poetry? Or how economics work? Or the stages of psychosexual development? Can this new physics explain the currents of ecosystems, or the dynamics of history, or why human wars are so terribly common?
Whichever theory we adopt to give a rational explanation of human existence, that theory must take into account and explain the mental nature we see at work in all modern communities.
Economics taught in most of the elite universities are practically useless in my context. My country [Afghanistan] is dominated by drug economy and a mafia; textbook economics does not work in my context.
A man made for public life and authority never takes account of personalities; he only takes account of things, of their weight and their conseqences.
My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international economics.
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed in standard economic theory.
Classical economics values things by seeing how much someone will pay for them. But this is where classical economics is wrong. What it fails to account for are all the 'externalities' - the services people regard as free goods: pollination services, flood protection, climate regulation, soil stabilization, carbon sequestration.
No theory of the universe can be satisfactory which does not adequately account for the phenomena of life, especially in that richest form which finds expression in human personality.
A modern theory of knowledge which takes account of the relational as distinct from the merely relative character of all historical knowledge must start with the assumption that there are spheres of thought in which it is impossible to conceive of absolute truth existing independently of the values and position of the subject and unrelated to the social context.
Economics taught in most of the elite universities are practically useless in my context. My country is dominated by drug economy and a mafia. Textbook economics does not work in my context, and I have very few recommendations from anybody as to how to put together a legal economy.
There are two cardinal human sins out of which all others derive, deviate, and dissipate: impatience and lassitude (or perhaps nonchalance). On account of impatience they are driven out of paradise; on account of lassitude or nonchalance they do not return. Perhaps, however, only one main sense of sin is given: impatience. On account of impatience they are driven out, on account of impatience they do not turn back.
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.
