A Quote by Paul Samuelson
There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.
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Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.
Solve it. Solve it quickly, solve it right or wrong. If you solve it wrong, it will come back and slap you in the face, and then you can solve it right. Lying dead in the water and doing nothing is a comfortable alternative because it is without risk, but it is an absolutely fatal way to manage a business.
If I could direct it [films] I would be very happy. But the economics of business don't always allow you to do what you want.
A small-state world would not only solve the problems of social brutality and war; it would solve the problems of oppression and tyranny. It would solve all problems arising from power.
And I've come to the place where I believe that there's no way to solve these problems, these issues - there's nothing that we can do that will solve the problems that we have and keep the peace, unless we solve it through God, unless we solve it in being our highest self. And that's a pretty tall order.
Some years ago an excellent professor of economics told his class in his gravelly voice, 'If you pay me $50,000 a year to solve a problem, I damned sure ain't going to solve it.'
Experimental economics is about conducting experiments: bringing economics into the laboratory or creating controlled conditions in the field that allow us to understand better what we are seeing in less controlled circumstances.
Economics and a reliance on science and technology to solve our problems has led to an unsustainable situation where continued growth in consumption is required for governments and business to be considered successful. This is a form of insanity. Economics is at the heart of our destructive ways and our faith in it has blinded us
I find it funny that people who didn't think there was any inflation in the pipeline are now talking about stagflation. This is nothing like the 1970's, which was a pretty dismal period and not just because of polyester and disco.
Of all my travels in America, nothing has affected me more, nothing even close I have to tell you, than the time I have spent with the mothers and fathers who have lost their children to violence spilling across our borders, which we can solve, we have to solve it!
The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise ... economics is a form of brain damage.
The worst possible thing ... was to lie dead in the water with any problem. Solve it, solve it quickly ... If you solved it wrong, it would come back and slap you in the face, and then you could solve it right.
The fundamentals of the token model are valuable and powerful. They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
Scripture would not only solve the individual and family divisions, but it would also solve the ecclesiastical confusion.
The stagflation of the 1970s blessed us with damaging wage and price controls and the utterly counterintuitive supply-side notion - famously drawn on a napkin - that cutting taxes would lead to higher tax revenues.
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