Mathematical programming assisted by electronic computers becomes the fundamental instrument of long-term economic planning, as well as of solving dynamic economic problems of a more limited scope. Here, the electronic computer does not replace the market. It fulfils a function which the market never was able to perform.
Oskar R. LangeRelated topics
able computer dynamic function fundamental instrument limited market planning scope solving well programmingRelated quotes
I am sure that never was a people, who had more reason to acknowledge a Divine interposition in their affairs, than those of the United States and I should be pained to believe that they have forgotten that agency, which was so often manifested during our Revolution, or that they failed to consider the omnipotence of that God who is alone able to protect them.
George Washington
Philosophy treats of physics where a more careful knowledge is required because the problems which come under this head are numerous... So the reader of Ctesibius or Archimedes and the other writers of treatises of the same class will not be able to appreciate them unless he has been trained in these subjects by the philosophers.
Vitruvius
Writing ought either to be the manufacture of stories for which there is a market demand -- a business as safe and commendable as making soap or breakfast foods -- or it should be an art, which is always a search for something for which there is no market demand, something new and untried, where the values are intrinsic and have nothing to do with standardized values.
Willa Cather
In mainstream economic theory, the firm and the market are, for the most part, assumed to exist and are not themselves the subject of investigation. One result has been that the crucial role of the law in determining the activities carried out by the firm and in the market has been largely ignored.
Ronald Coase
