Use Quotes - page 99
The circular-flow diagram offers a simple way of organizing the economic transactions that occur between households and firms in the economy. The two loops of the circular-flow diagram are distinct but related. The inner loop represents the flows of inputs and outputs. The households sell the use of their labor, land, and capital to the firms in the markets for the factors of production. The firms then use these factors to produce goods and services, which in turn are sold to households in the markets for goods...
Greg Mankiw
The decisive weakness in neoclassical and neo-Keynesian economics is not the error in the assumptions by which it elides the problem of power. The capacity for erroneous belief is very great, especially where it coincides with convenience. Rather, in eliding power - in making economics a nonpolitical subject - neoclassical theory destroys its relation to the real world. In that world, power is decisive in what happens. And the problems of that world are increasing both in number and in the depth of their social affliction. In consequence, neoclassical and neo-Keynesian economics is relegating its players to the social sidelines where they either call no plays or use the wrong ones. To change the metaphor, they manipulate levers to which no machinery is attached.
John Kenneth Galbraith
I was studying agriculture, how to produce better chickens, better cattle, better horses - horses in those days - better fruit, better vegetables. This was in the early years of the Great Depression, and the thoughts crossed my mind that there wasn't a hell of a lot of use producing better crops and better livestock if you couldn't sell them, that the real problem of agriculture was not efficiency in production but the problem of whether you could make money after you produced the stuff. So I shifted from the technical side to, first, the study of agricultural economic issues and then on to economics itself.
John Kenneth Galbraith
If one day, the Islamic world is also equipped with weapons like those that Israel possesses now, then the imperialists' strategy will reach a standstill because the use of even one nuclear bomb inside Israel will destroy everything. However, it will only harm the Islamic world. It is not irrational to contemplate such an eventuality. Of course, you can see that the Americans have kept their eyes peeled and they are carefully looking for even the slightest hint that technological advances are being made by an independent Islamic country. If an independent Islamic country is thinking about acquiring other kinds of weaponry, then they will do their utmost to prevent it from acquiring them. Well, that is something that almost the entire world is discussing right now.
Hashemi Rafsanjani
What America does all over the world in the name of the war on terrorism, the way in which it plunders the resources of peoples in needy and backwards countries, its aggression in international organizations, which belong to all of the world's peoples, and the inflammatory propaganda it uses in order to undermine other countries – all of these certainly contradict the spirit of the teachings of Jesus. [...] Pope's functionaries [...]should say to the Americans: Through the crimes you commit you disgrace Jesus, because you use the names of Jesus and the church to win over many votes in the American public.
Hashemi Rafsanjani
There are two great uses of antiquarian studies. One of them is to enable us to conjure up as if by the magician's wand the dress, furniture, architecture, &c., of past ages, so that we can live, as it were, in many centuries almost at the same moment. This is a very great and a very pleasant species of knowledge, but it is not particularly useful in this work-a-day world; and it sometimes, like other knowledge, renders its possessor far from happy, more especially when he goes to the theatre, and sees all sorts of anachronisms and impossibilities a. The other use of antiquarian studies is to restore disused arts, and to get all the good we can out of them for our own improvement.
William Burges
Those who receive this privilege therefore, have a duty to repay the sacrifice which others have made. They are like the man who has been given all the food available in a starving village in order that he might have strength to bring supplies back from a distant place. If he takes this food and does not bring help to his brothers, he is a traitor. Similarly, if any of the young men and women who are given an education by the people of this republic adopt attitudes of superiority, or fail to use their knowledge to help the development of this country, then they are betraying our union.
Julius Nyerere
From these two immediate perceptions, we gain a mediate, or inferential perception of the relation of all four instants. This mediate perception is objectively, or as to the object being represented, spread over the four instants; but subjectively, or as itself the subject of duration, it is completely embraced in the second moment. (The reader will observe that I use the word instant to mean a point in time, and moment to mean an infinitesimal duration.
Charles Sanders Peirce
Radiation doesn't recognize borders. A meltdown in Japan or India, say, is a danger to the whole world. Wind circulates the radiation everywhere. Water quality is affected. We all eat the same fish. We use products from all over the world - if something is contaminated, it will cause harm.
Wladimir Klitschko
In this essay on econometrics in its conception and its use in economic planning for the betterment of man's fate, I will try to cover a very broad field.
When talking about the methodology in the particular fields mentioned - about which I am supposed to have a little more than second hand knowledge - I have always found it utterly inadequate to focus attention only on these special fields without seeing them in a much broader perspective.
Therefore it was inevitable that I should have to include in the field of vision of this paper also some branches of science where I can only speak as a layman, hopefully as a somewhat informed layman. For whatever blunders I may have made in these fields I must ask for the reader's forgiveness.
Ragnar Frisch
Why... are there any market transactions at all? Why not all production carried on by one big firm?... First, as a firm gets larger, there may be decreasing returns to the entrepreneur function, that is, the costs of organizing additional transactions within the firm may rise... Second, it may be that as the transactions which are organized increase, the entrepreneur fails to place the factors of production in the uses where their value is greatest, that is, fails to make the best use of the factors of production... Finally, the supply price of one or more of the factors of production may rise, because the "other advantages" of a small firm are greater than those of a large firm.
Ronald Coase
She took us to see her granddaughter who was teaching in the Dominican convent in San Raphael, we went across the bay on a ferry, that had not changed but Goat Island might just as well not have been there, anyway what was the use of my having come from Oakland it was not natural to have come from there yes write about it if I like or anything if I like but not there, there is no there there.
Gertrude Stein
But as they all say if we sell our home what will we have for it, money, and what is the use of that money, money goes and after it is gone then where are we, beside we have all we want, what can we do with money except lose it, money to spend is not very welcome, if you have it and you try to spend it, well spending money is an anxiety, saving money is a comfort and a pleasure, economy is not a duty it is a comfort, avarice is an excitement, but spending money is nothing, money spent is money non-existent, money saved is money realised...
Gertrude Stein
