A Quote by Alvin E. Roth

A lot of people are surprised economists are assisting with kidney exchanges. Exchanges are what economists are good at. — © Alvin E. Roth
A lot of people are surprised economists are assisting with kidney exchanges. Exchanges are what economists are good at.
I'm a huge proponent of exchanges, student exchanges, cultural exchanges, university exchanges. We talk a lot about public diplomacy, .. It's extremely important that we get our message out, but it's also the case that we should not have a monologue with other people. It has to be a conversation, and you can't do that without exchanges and openness.
Ideally, it is important to communicate exactly when large amounts of tokens become unlocked and therefore available in public exchanges. It is a good practice to continuously update these exchanges with the right amount of tokens in circulation.
When most people think of economists, they think of macro-economists. Macro-economists try to describe or - even harder - predict the movements of a hugely dynamic system. They're like a transplant surgeon trying to simultaneously transplant every failing organ in someone's body.
The big exchanges that hold customer deposits are a big target for hackers, and unfortunately, most bitcoin exchanges store user funds.
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.
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.
The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings.
Society established gold and silver as a circulating medium and as a legal tender in order that exchanges of commodities might be facilitated; but society blundered in so doing; for, by this very act, it gave to a certain class of men the power of saying what exchanges shall, and what exchanges shall not, be facilitated by means of this very circulating medium. The monopolizers of othe precious metals have an undue power over the community: they can say whether money shall, or shall not, be permitted to exercise its legitimate functions.
In short, competition has to shoulder the responsibility of explaining all the meaningless ideas of the economists, whereas it should rather be the economists who explain competition.
Trading is a small part of the work of the stock exchanges. They are really to do with financial speculation, and they speculate on the value of the yen, the dollar, the pound, the franc, or the euro, at any given time. Billions are lost and billions are made by this speculation, and that's what the stock exchanges are about. They are for greedy minds.
I am often considered almost not a part of the profession of Establishment economists. I am even referred to as a sociologist. And by that, economists usually do not mean anything flattering.
Question: Why does anyone bother to listen to economists anymore? The profession has become an embarrassment, and the most respected economists have shown themselves to have as much predictive power as a deck of tarot cards.
It is often sadly remarked that the bad economists present their errors to the public better than the good economists present their truths. It is often complained that demagogues can be more plausible in putting forward economic nonsense from the platform than the honest men who try to show what is wrong with it.
In the 2013 Economists Program, we hired 51 percent women, 49 percent men. And the reason for that is that we have a draft from all over the world, and we've hired, for instance, in that group, a good number of Chinese economists - highly qualified, all Ph.D.s from the best universities of the world. And guess what? They're all women.
Physicists can only talk to other physicists and economists to economists... sociologists often cannot even understand each other.
Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce, economists call it a crisis and say that it's a question for politicians, not their own department.
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