Warning : Undefined array key "visitor_referer_type" in /var/www/vhosts/wordinf.com/core/app/libraries/Core.php on line 98
Based Quotes - page 78 - Quotesdtb.com
Based Quotes - page 78
If Walter Bagehot was right that "one of the greatest pains to human nature is the pain of a new idea,” Ken caused an extraordinary amount of pain. Both in his economic thinking and in his political activities, he was dedicated to resisting, and where possible overturning, what he famously called "conventional wisdom” (one of his many turns of phrase that have since become commonplace locutions). Rejecting the standard economic theory based on small, anonymous households and firms that autonomously engage in perfectly functioning markets, Ken instead saw an economic stage dominated by large, nameable actors: big business, big labor, big government. Sorting out their roles and respective power was central to his analysis, and the continually shifting tensions in the interplay among them-"countervailing power” in another of his deft phrases-was the real story of how an economy behaved.
Amartya Sen
Contemporary theories of politics tend to portray politics as a reflection of society, political phenomena as the aggregate consequences of individual behavior, action as the result of choices based on calculated self-interest, history as efficient in reaching unique and appropriate outcomes, and decision making and the allocation of resources as the central foci of political life. Some recent theoretical thought in political science, however, blends elements of these theoretical styles into an older concern with institutions. This new institutionalism emphasizes the relative autonomy of political institutions, possibilities for inefficiency in history, and the importance of symbolic action to an understanding of politics. Such ideas have a reasonable empirical basis, but they are not characterized by powerful theoretical forms. Some directions for theoretical research may, however, be identified in institutionalist conceptions of political order.
James G. March