A Quote by Vernon L. Smith
I gradually became persuaded that the subjects, without intending to, had revealed to me a basic truth about markets that was foreign to the literature of economics.
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Most British playwrights of my generation, as well as younger folks, apparently feel somewhat obliged to Russian literature - and not only those writing for theatres. Russian literature is part of the basic background knowledge for any writer. So there is nothing exceptional in the interest I had towards Russian literature and theatre. Frankly, I couldn't image what a culture would be like without sympathy towards Russian literature and Russia, whether we'd be talking about drama or Djagilev.
Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man's prosperity and survival, but so also is exchange.
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
That economics and finance are often covered as technical subjects, sort of boring subjects, and either you already know a lot about it and you follow it, or you don't know much about it and you don't want to know.
To subvert is not the aim of literature, its value lies in discovering and revealing what is rarely known, little known, thought to be known but in fact not very well known of the truth of the human world. It would seem that truth is the unassailable and most basic quality of literature.
My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.
My early education was in the public school system of Omaha, where, retrospectively, I realize that my high school training served me in good stead for the basic subjects of mathematics, English, foreign languages and history.
The final product becomes a passionate reflection of all that was revealed to me about my subjects during intense moments of personal clarity.
But foreign should not be defined in geographical terms. Then it would have no meaning except territorial or tribal patriotism. To me that alone is foreign which is foreign to truth, foreign to Atman.
Pure photography allows us to create portraits which render their subjects with absolute truth, truth both physical and psychological. That is the principal which provided my starting point, once I had said to myself that if we can create portraits of subjects that are true, we thereby in effect create a mirror of the times in which those subjects live.
By the age of nine, I had a thorough knowledge of contemporary Polish literature as well as of foreign literature in Polish translation, and I began to write poems in honour of a lady of thirty years. Naturally, she knew nothing about them.
By the age of nine I had a thorough knowledge of contemporary Polish literature as well as of foreign literature in Polish translation, and I began to write poems in honour of a lady of thirty years. Naturally, she knew nothing about them.
I believe that economics is based on scarcity of markets. And it's possible to monetize your art without compromising the integrity of it for commerce.
My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international economics.
As I grew up, I was interested in other areas, too, especially literature. It became a major love of mine. Later, it became a difficult choice for me as to whether to major in music or literature. It wasn't until my 30s that I began a profession in music.
I arrived in the U.S. for graduate study in literature in the fall of 1986. I was twenty-three. After a year, I began to paint, even though I had come to the U.S. intending to become a writer.
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