A Quote by Kenneth E. Boulding
[The notion of equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of the toolbag of the economist and one which he can often contribute usefully to other sciences which are occasionally apt to get lost in the trackless exfoliations of purely dynamic systems.
Quote Topics
Quote Author
Related Quotes
The ability to work with systems of general equilibrium is perhaps one of the most important skills of the economist - a skill which he shares with many other scientists, but in which he has perhaps a certain comparative advantage.
All social inequalities which have ceased to be considered expedient, assume the character not of simple inexpediency, but of injustice, and appear so tyrannical, that people are apt to wonder how they ever could have. been tolerated; forgetful that they themselves perhaps tolerate other inequalities under an equally mistaken notion of expediency, the correction of which would make that which they approve seem quite as monstrous as what they have at last learnt to condemn.
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.
Spies cannot be usefully employed without a certain intuitive sagacity.
This is what writers mean when they say that the notion of cause involves the idea of necessity. If there be any meaning which confessedly belongs to the term necessity, it is unconditionalness. That which is necessary, that which must be, means that which will be, whatever supposition we may make in regard to all other things.
It is with wits as with razors, which are never so apt to cut those they are employed on as when they have lost their edge.
Travelling. ... when men of sober age travel, they gather knowlege which they may apply usefully for their country
We've increasingly lost that sense of community, of the notion that there is something we contribute to and benefit from that is called the common good. I think I would date the beginnings of that loss to the Reagan administration and to the notion that somehow we were all separate individuals who only ought to be interested in ourselves.
There was another thing I heartily disbelieved in - work. Work, it seemed to me even at the threshold of life, is an activity reserved for the dullard. It is the very opposite of creation, which is play… The part of me which was given up to work, which enabled my wife and child to live in the manner which they unthinkingly demanded, this part of me which kept the wheel turning - a completely fatuous, ego-centric notion! - was the least part of me. I gave nothing to the world in fulfilling the function of breadwinner; the world exacted its tribute of me, that was all.
It was the Spice Girls who messed it all up. And obviously, the appropriating of the phrase "girl power", which at that point overrode any notion of feminism, and which was a phrase that meant absolutely nothing apart from being friends with your girlfriends.
The notion about education has changed and that now it’s sort of much more aligned with, “Well, schools can’t combat poverty. We can’t possibly expect schools to do the work to overcome poverty.” I think that notion which has changed over the last few decades is part, not all, but part of what is maybe leading to people feeling less of a sense of possibility.
The notion of dream interpretation far antedates the birth of psychoanalysis, and probably served an important function in most, if not all, historical societies. In having lost this function, modern man has also lost the best part of his nature, which he obliviously passes on to the next generation of dreamers.
We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.
The readiness with which women are apt to forgive the men who have deceived other women; and that inconsiderate notion of too many of them that a reformed rake makes the best husband, are great encouragements to vile men to continue their profligacy.
Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.
Seldom can philosophic genius be more usefully employed than in thus rescuing admitted truths from the neglect caused by the very circumstance of their universal admission.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist