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Academic Quotes - page 6 - Quotesdtb.com
Academic Quotes - page 6
The signal failure of the academic Marxists is in their obliviousness to the transformation of modern labor. In the age of mass media, power has shifted its meaning and loci. Capitalism, whatever its problems, remains the most efficient economic mechanism yet to bring the highest quality of life to the greatest number. Because I have studied the past, I know that, in America and under capitalism, I am the freest woman in history. Union blue-collar jobs now routinely pay higher salaries than are earned by most teachers. Physical labor, as a concrete skill occupation, is free of the soul-destroying office politics suffers by the Marxists' demonized managerial class, who take their jobs home with them and are in a continual funk of anxiety and neurosis. ... Unharried weekend leisure time is the center of working-class American life in ways the academic Marxists, resentfully marking papers and endlessly pressed for time, simply don't see.
Camille Paglia
For a period of roughly 35 years, Keynesian theory provided a central paradigm for macroeconomists, and considerable progress was made on several empirical fronts. It was widely recognized that some of the ingredients of Keynesian economics (e.g. money illusion and/or nominal wage rigidity) rested on slender to non-existent microtheoretic foundations; and there were always dissenters. But, thought of as a collection of empirical regularities that fit together into a coherent whole, the theory worked tolerably well. In the 1970s, however, the Keynesian paradigm was rejected by a great many academic economists, especially in the United States, in favour of what we now call new classical economics. By about 1980, it was hard to find an American academic macroeconomist under the age of 40 who professed to be a Keynesian. That was an astonishing intellectual turnabout in less than a decade, an intellectual revolution for sure.
Alan Blinder