At Chicago, I was in the midst of a veritable galaxy of stars: Trygve Haavelmo, Tjalling Koopmans, Theodore Anderson, Leonid Hurwicz, Herman Rubin, Kenneth Arrow, Don Patinkin, Herman Chernoff, and Herbert Simon, among others. I completed my first of a series of macroeconometric models, solidified my understanding of econometrics, learned (through endless discussion) about the functioning of the economy, and got started on several theoretical paths such as aggregation, demand systems, and prediction.
Lawrence KleinRelated topics
aggregation arrow galaxy midst prediction series understanding others anderson functioning theodore econometrics herbert herman starsRelated quotes
To speak of 'limits to growth' under a capitalistic market economy is as meaningless as to speak of limits of warfare under a warrior society. The moral pieties, that are voiced today by many well-meaning environmentalists, are as naive as the moral pieties of multinationals are manipulative. Capitalism can no more be 'persuaded' to limit growth than a human being can be 'persuaded' to stop breathing. Attempts to 'green' capitalism, to make it 'ecological', are doomed by the very nature of the system as a system of endless growth.
Murray Bookchin
Broadly speaking, [Keynesianism means] that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.
John Kenneth Galbraith
As the people are the only legitimate fountain of power, and it is from them that the constitutional charter, under which the several branches of government hold their power, is derived, it seems strictly consonant to the republican theory, to recur to the same original authority, not only whenever it may be necessary to enlarge, diminish, or new-model the powers of the government, but also whenever any one of the departments may commit encroachments on the chartered authorities of the others.
James Madison
I've always wondered if people who block each other from expressing their opinions do so because they have so little confidence in their own. To me, encountering an opposing point of view is a chance to gain a deeper understanding of the issues at stake... and develop my own point of view. But the first thing you've got to do is you've got to let people speak and you've got to listen. And that's what the first amendment is all about. That's what really distinguishes this country from others.
Michael Bloomberg
We cannot by a little verbal sophistry confound the qualities of different minds, nor force opposite excellences into a union by all the intolerance in the world. ... If we have a taste for some one precise style or manner, we may keep it to ourselves and let others have theirs. If we are more catholic in our notions, and want variety of excellence and beauty, it is spread abroad for us to profusion in the variety of books and in the several growth of men's minds, fettered by no capricious or arbitrary rules.
William Hazlitt
