My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation. (Robert C. Merton)

My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.

Robert C. Merton

Related topics

belief business controlling decision economics fundamental inflation leave mathematics popular stopping 1960s macroeconomics unemployment

Related quotes

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
Bill Gates
It was not for the sake of oil that the risky decision to cease this corrupt coexistence was made. But at least now the Iraqi people have a chance of controlling their own main resource, and it will be our task to ensure that the funding and revenue are transparent instead of opaque.
Christopher Hitchens
In a free society a large degree of human activity is none of the government's business. We should make criminal what's going to hurt other people and other than that we should leave it to people to make their own choices.
Barney Frank
One day he said: For the soul there is a satisfaction of a higher type; the material is not at all necessary. Whether I apply mathematics to a couple of clods of dirt, which we call planets, or to purely arithmetical problems, it s just the same; the latter have only a higher charm for me.
Carl Friedrich Gauss
Rhetoric, it seems, is a producer of persuasion for belief, not for instruction in the matter of right and wrong ... And so the rhetorician's business is not to instruct a law court or a public meeting in matters of right and wrong, but only to make them believe.
Plato