A Quote by Joan Robinson
An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.
Related Quotes
It had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was thus that it came to rest. Idle men and idle plant were an aberration, a wholly temporary failing. Keynes showed that the modern economy could as well find its equilibrium with continuing, serious unemployment. Its perfectly normal tendency was to what economists have since come to call an underemployment equilibrium.
The clarification of equilibrium through plastic art is of great importance for humanity. It reveals that although human life in time is doomed to disequilibrium, notwithstanding this, it is based on equilibrium. It demonstrates that equilibrium can become more and more living in us.
The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles.
Every situation is an equilibrium of forces; every life is a struggle between opposing forces working within the limits of a certain equilibrium
We know, in other words, the general conditions in which what we call, somewhat misleadingly, an equilibrium will establish itself: but we never know what the particular prices or wages are which would exist if the market were to bring about such an equilibrium.
The equilibrium between supply and demand is achieved only through a reaction against the upsetting of the equilibrium.
Entrenched customs represent a social equilibrium, and moving away from that equilibrium is difficult to do on your own.
Moral Education is the source of that spiritual equilibrium on which everything else depends and which may be compared to that physical equilibrium or sense of balance, without which it is impossible to stand upright or to move into any other position.
The entropy of an isolated system not in equilibrium will tend to increase over time, approaching a maximum value at equilibrium.
For the keynote of the law of Karma is equilibrium, and nature is always working to restore that equilibrium whenever through man's acts it is disturbed.
As there must be moderation in other things, so there must be moderation in self-criticism. Perpetual contemplation of our own actions produces a morbid consciousness, quite unlike that normal consciousness accompanying right actions spontaneously done; and from a state of unstable equilibrium long maintained by effort, there is apt to be a fall towards stable equilibrium, in which the primitive nature reasserts itself. Retrogression rather than progression may hence result.
Good and evil grow up together and are bound in an equilibrium that cannot be sundered. The most we can do is try to tilt the equilibrium toward the good.
There are norms that preserve some equilibrium between chaos and stability in the world; that keep sociopaths like Assad from undermining that equilibrium, and the sense of security without which the freedoms we enjoy cannot exist.
All biologic phenomena act to adjust: there are no biologic actions other than adjustments. Adjustment is another name for Equilibrium. Equilibrium is the Universal, or that which has nothing external to derange it.
Unity of command is essential to the economy of time. Warfare in the field was like a siege: by directing all one's force to a single point a breach might be made, and the equilibrium of opposition destroyed.
Repetition acts as an enforcement mechanism: It makes cooperation achievable when it is not achievable in the one-shot game, even when one replaces strategic equilibrium as the criterion for achievability by the more stringent requirement of perfect equilibrium.
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