A Quote by Ludwig von Mises
It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.
Quote Topics
Quote Author
Related Quotes
Humans have trouble with economics, as you may have noticed, and not just because economic circumstances sometimes cause them to starve. Humans seem to have an innate inability to pay attention to economic principles.
From the simplest lyric to the most complex novel and densest drama, literature is asking us to pay attention. Pay attention to the frog. Pay attention to the west wind. Pay attention to the boy on the raft, the lady in the tower, the old man on the train. In sum, pay attention to the world and all that dwells therein and thereby learn at last to pay attention to yourself and all that dwells therein.
As the power of governments wanes, corporations become ever more powerful. Sometimes they do things that aren't so good. We should pay attention. Steve Jobs was saying, "Don't pay attention to all that stuff. Pay attention to the product you've got in your hand."
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.
When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the mainstream economics and why most of the economics that justifies austerity programs and economic shrinkage is in the textbooks is not scientific. Junk economics denies the role of debt and denies the fact that the economic system we have now is dysfunctional.
History is made every day. The challenge is getting everyone to pay attention to it.
I think Donald Trump should cool down a little bit. To pay more attention to the history. To really understand what U.S.'s value is about. I think, as a president, those things you always have to ask.
Pay attention to your friends; pay attention to that cousin that jumps up on the picnic table at the family reunion and goes a little too 'nutty,' you know what I mean? Pay attention to that aunt that's down in the basement that never comes upstairs. We have to pay attention to our friends, pay attention to your family, and offer a hand.
Those who have power a) understand that the world is not always a just and fair place and accept that fact, b) understand the bases and strategies for acquiring power, and c) take actions consistent with their knowledge in a skillful way. Skill at anything requires practice, and power skills are no different.
I'm glad that we have a history at all and that we can talk about feminist history. But I do think that it doesn't really pay attention to the complexity and the nuance that is feminist thought.
And one of the worst effects was that by suppressing critical thought, it also suppressed critical thought in the field of economics and hampered the development of economics - and the country would fall back further and further in the economic competition with the West.
Whether it comes from a despotic sovereign or an elected president, from a murderous general or a beloved leader, I see power as an inhuman and hateful phenomen. To the same degree that I do not understand power, I do understand those who oppose power, who criticize power, who contest power, especially those who rebel against power imposed by brutality.
The economic interpretation of history does not necessarily mean that all events are determined solely by economic forces. It simply means that economic facts are the ever recurring decisive forces, the chief points in the process of history.
An enlightened person has real power and when they think a good thought, the tremendous power of attention causes their students to actually lift up into those states. It brings a power into their lives.
Dialogue is really aimed at going into the whole thought process and changing the way the thought process occurs collectively. We haven't really paid much attention to thought as a process. We have engaged in thoughts, put we have only paid attention to the content, not to the process. Why does thought require attention? Everything requires attention, really. If we ran machines without paying attention to them, they would break down. Our thought, too, is a process, and it requires attention, otherwise its going to go wrong.
To those of you who study history, economics, sociology, literature and language I present the challenge of the utilization of the enormous resources in our grasp to the problem of creating a genuinely good life for yourselves and your children.
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
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts 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