A Quote by Raghuram Rajan
If economists were to wait for careful studies before offering opinions about policy, we would never have anything timely to say.
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Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, `What would I do if I were a horse?' '
No one knows anything about economics. It's the great lie of the economists. By contrast in football people might have contrasting opinions, each of which has some validity. But the economists always speak in conditionals - what a mess.
If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, "what would I do if I were a horse?"
Succinct, thorough, and masterfully researched-Thomas Medvetz has written a subtle and timely history of these fixtures of public debate in the United States. In the realms of culture studies, policy, and policy formation, there is no book quite like Think Tanks in America. Plus which, no one has understood, interpreted, then used Pierre Bourdieu's ideas better-so well that Bourdieu himself would have been pleased.
The people and the warmakers are two distinct groups. We must never say 'we' when discussing the US government's foreign policy. For one thing, the warmakers do not care about the opinions of the majority of Americans. It is silly and embarrassing for Americans to speak of 'we' when discussing their government's foreign policy, as if their input were necessary to or desired by those who make war.
Policy makers have plainly failed both here in the United States and in Europe as well. People who have suffered because of that. And when they say, "Throw out economists, we don't trust economists anymore," you can totally understand why.
The famous Zen parable about the master for whom, before his studies, mountains were only mountains, but during his studies mountains were no longer mountains, and afterward mountains were again mountains could be interpreted as an alleory about [the perpetual paradox that when one is closest to a destination one is also the farthest).
Drugs were pretty easy to quit taking. I was never addicted to anything to begin with. But then, liquor - I had to wait about another six years before I finally got around to quitting that. I'm sure glad I did.
You're not going to say anything about me that I'm not going to say about myself. There's so many things that I think about myself; if someone really wanted to get at me, they could say this and this and this. So I'm going to say it before they can. It's the best policy for me.
It distresses me deeply that ideas are not to be circulated freely in the USA if certain persons have their way. One of the things that was great about this country was that I could say anything and that everyone else could say anything and we would compare all possible ideas and arrive at opinions.
At the Oscars, if you didn't vote for '12 Years a Slave,' you were a racist. You have to be very careful about what you say. I do have particular views and opinions that most of this town doesn't share, but it's not like I'm a fascist or a racist. There's nothing like that in my history.
My partner, Jeff Ullrich, and I always thought Earwolf was going to be big. There were a couple of studies before we launched saying podcasts were going to really grow. But I remember so many conversations at the beginning where people would say, 'How are you going to make money with this?'
Strict honesty was the policy of most of them; although there were a few who were said to 'find anything before 'tis lost' and to whom findings were keepings.
Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree.
You have to be very careful about what you say. More importantly, you have to be very careful about what you do. You never know how or when you influence people – especially children.
Why don't you ever wait a second and see what I'm planning, or thinking, before you burst in with your opinions and ideas? You never even give me a chance.
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