Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is driven by pure stupidity - or, rather, inattention, misinformation about fundamentals, and an exaggerated focus on currently circulating stories.
Robert J. ShillerRelated topics
drive focus inattention misinformation pure stupidity world fundamentalsRelated quotes
My attitude to peace is rather based on the Burmese definition of peace - it really means removing all the negative factors that destroy peace in this world. So peace does not mean just putting an end to violence or to war, but to all other factors that threaten peace, such as discrimination, such as inequality, poverty.
Aung San Suu Kyi
Theory should be ever more demanding of our empirical resources. Simultaneously, data should be ever more demanding of the empirical relevance of theory and of the theorist's expertise in working imaginatively on problems of the world, rather than on stylized problems of the imagination.
Vernon L. Smith
The first step - especially for young people with energy and drive and talent, but not money - the first step to controlling your world is to control your culture. To model and demonstrate the kind of world you demand to live in. To write the books. Make the music. Shoot the films. Paint the art.
Chuck Palahniuk
