A Quote by Ronald Coase
What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production.
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Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means we have to structure our economic policies to make sure that we have shared prosperity. And you don't do that by giving a tax cut to the big winners and raising taxes on those who have not done very well. Your economic policy has to respond to the way our economic system has been working.
One of the things about working for an old school studio like Warner Bros. is that there is an institutional culture and institutional memory, in terms of production design, camera work, and directors who understand how to do this kind of thing.
Private property in the instruments of production is an institutional device both for dispersing power and for securing effective organization of production. The only simple property system is that of a slave society with a single slave owner - which, significantly, is the limiting case of despotism and of monopoly. Departure from such a system is a fair measure of human progress.
Mitt Romney understands the importance of Alaska as a leader in our country's energy production and I look forward to working with him on such an important economic and national security matter.
If the system exhibits a structure which can be represented by a mathematical equivalent, called a mathematical model, and if the objective can be also so quantified, then some computational method may be evolved for choosing the best schedule of actions among alternatives. Such use of mathematical models is termed mathematical programming.
Is advertising moral? It is part and parcel of the American free enterprise system... I challenge anybody to show any economic system that has done as much for so many in so short a time.
The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the publication of Institutions, Institutional Change and Economic Performance in 1990.
It's much, much harder working on a show than it is working on a movie. It really is. Even if you're in production, that production lasts for a set period of time. A TV show goes on for months and months and months.
With the nervous system intact the reactions of the various parts of that system, the 'simple reflexes', are ever combined into great unitary harmonies, actions which in their sequence one upon another constitute in their continuity what may be termed the 'behaviour'.
A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.
Owing to the imperfection of language the offspring is termed a new animal, but it is in truth a branch or elongation of the parent; since a part of the embryon-animal is, or was, a part of the parent; and therefore in strict language it cannot be said to be entirely new at the time of its production; and therefore it may retain some of the habits of the parent-system. (1794)
The importance of certain problems concerning the facts will be inherent in the structure of the system.
The economic borderlines of our world will not be drawn between countries, but around Economic Domains. Along the twin paths of globalization and decentralization, the economic pieces of the future are being assembled in a new way. Not what is produced by a country or in a country will be of importance, but the production within global Economic Domains, measured as Gross Domain Products. The global market demands a global sharing of talent. The consequence is Mass Customization of Talent and education as the number one economic priority for all countries
When we pull back the curtain and take a look at what our 'colorblind' society creates without affirmative action, we see a familiar social, political, and economic structure - the structure of racial caste. The entrance into this new caste system can be found at the prison gate.
To the possible enquiry as to the probable character of a successful flying machine, the writer would answer that in his judgment two types of such machines may eventually be evolved: one, which may be termed the soaring type, and which will carry but a single operator, and another, likely to be developed somewhat later, which may be termed the journeying type, to carry several passengers, and to be provided with a motor.
Far from creating independent thinkers, schools have always, throughout history, played an institutional role in a system of control and coercion. And once you are well educated you have already been socialized in ways that support the power structure, which, in turn, rewards you immensely.
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