Notion Quotes - page 9
The scarcity trap captures this notion we see again and again in many domains. When people have very little, they undertake behaviors that maintain or reinforce their future disadvantage. If you have very little, you often behave in such a way so that youll have little in the future.
Sendhil Mullainathan
His wastefulness showed most of all in the architectural projects. He built a palace, stretching from the Palatine to the Esquiline, which he called..."The Golden House". The following details will give some notion of its size and magnificence. The entrance-hall was large enough to contain a huge statue of himself, 120 feet high...Parts of the house were overlaid with gold and studded with precious stones and mother-of pearl. All the dining-rooms had ceilings of fretted ivory, the panels of which could slide back and let a rain of flowers, or of perfume from hidden sprinklers, shower upon his guests. The main dining-room was circular, and its roof revolved, day and night, in time with the sky. Sea water, or sulphur water, was always on tap in the baths. When the palace had been decorated throughout in this lavish style, Nero dedicated it, and condescended to remark: "Good, now I can at last begin to live like a human being!"
Suetonius
From the beginning I could not believe that the "efficient market” hypothesis was dependent on a pure Brownian motion white noise or any truly random random walk. Place a minuscule colloidal molecule on a horizontal table that covers unlimited acres. Bombard it from every direction with thousands of minute atoms; and then if you wait long enough that original molecule can have traveled a billion miles in one direction. That's truly a random Bachelier-Einstein walk, but not my notion of economic fluctuations.
Paul Samuelson
My notion of a fruitful economic science would be that it can help us explain and understand the course of actual economic history. A scholar who seriously addresses commentary on contemporary monthly and yearly events is, in this view, practicing the study of history-history in its most contemporary time phasing.
Paul Samuelson
This tendency towards a Christian-European Universal Monarchy has shown itself successively in the several States which could make pretensions to such a dominion, and, since the fall of the Papacy, it has become the sole animating principle of our History. We by no means seek to determine whether this notion of Universal Monarchy has ever been distinctly entertained as a definite plan .... Thus each State either strives to attain this Universal Christian Monarchy, or at least to acquire the power of striving after it;-to maintain the Balance of Power when it is in danger of being disturbed by another; and, in secret, for power, that it may eventually disturb it itself.
Johann Gottlieb Fichte
