At the center of market fundamentalism lies the general acceptance of the Walrasian general equilibrium model, or the neo-classical paradigm. Although many economists came to doubt the universal validity of such models in view of economies of scope, bounded rationality, asymmetric information, and other types of market imperfections and ventured into institutional analysis, the orthodoxy still remains the one which postulate some type of rationality of atomized individuals and the market which mediate among these atomized individuals and firms to reach some stable equilibrium.
Eisuke SakakibaraRelated topics
came doubt equilibrium general market model orthodoxy paradigm postulate reach stable universal validity view remains lies fundamentalismRelated quotes
One of the crucial elements to the analysis of morality is iterability. You can't play a degenerating game, because it degenerates, obviously. You want to play a game that at least remains stable across time. God, if you could really get your act together, maybe it could slowly get better. And of course, that's what you would hope for your family, right? That's what you're always trying to do, unless you're completely hell-bent on revenge and destruction. Is there a way that we can continue to play together that will make playing together even better the next day?
Jordan Peterson
It costs so much to be a full human being that there are very few who have the enlightenment, or the courage, to pay the price.... One has to abandon altogether the search for security, and reach out to the risk of living with both arms. One has to embrace the world like a lover, and yet demand no easy return of love. One has to accept pain as a condition of existence. One has to court doubt and darkness as the cost of knowing. One needs a will stubborn in conflict, but apt always to the total acceptance of every consequence of living and dying.
Morris West
What surprised me, which Google was part of, is that superficial search techniques over large bodies of stuff could get you what you wanted. I grew up in the AI tradition, where you have a complete conceptual model, and the information retrieval tradition, where you have complex vectors of key terms and Boolean queries. The idea that you can index billions of pages and look for a word and get what you want is quite a trick. To put it in more abstract terms, it's the power of using simple techniques over very large numbers versus doing carefully constructed systematic analysis.
Terry Winograd
No statistician present at this moment will have been in doubt about the meaning of my words when I mentioned the common statistical model. It must be a stochastic device producing random results. Tossing coins or a dice or playing at cards are not flexible enough. The most general chance instrument is the urn filled with balls of different colours or with tickets bearing some ciphers or letters. This model is continuously used in our courses as a didactic tool, and in our statistical analyses as a means of translating realistic problems into mathematical ones. In statistical language " urn model " is a standard expression.
Hans Freudenthal
The process of transforming all direct experience into the supreme symbolic expression, language, monopolizes life. Like ideology, language conceals and justifies, compelling us to suspend our doubts about its claim to validity. It is the root of civilization, the dynamic code of civilization's alienated nature. As the paradigm of ideology, language stands behind all of the massive legitimation necessary to hold civilization together. It remains for us to clarify what forms of nascent domination engendered this justification, made language necessary as basic means of repression.
John Zerzan
