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Economist Quote of the day
I am an educationist. I'm an economist. I am a politician. I am also now a good storyteller, you know?
Nature's economy shall be the base for our own, for it is immutable, but ours is secondary. An economist without knowledge of nature is therefore like a physicist without knowledge of mathematics.
Is there enough to go around? What is enough? Who can tell us? Certainly not the economist who pursues economic growth as the highest of all values, and therefore has no concept of enough.
The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.
I once met an economist who believed that everything was fungible for money, so I suggested he enclose himself in a large bell-jar with as much money as he wanted and see how long he lasted.
If you hear a "prominent" economist using the word 'equilibrium,' or 'normal distribution,' do not argue with him; just ignore him, or try to put a rat down his shirt.
After taking risk into account, do more managers than you’d see by chance outperform with persistence? Virtually every economist who studied this question answers with a resounding 'no.'
I had a choice. I could become an economist & managing director. I choose to do something else. I would have become much, much richer than I am. I choose to not do that. It's that simple.
Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).
I am neither an economist nor a photographer of monuments, and I am not much of a journalist either. What I am trying to do more than anything else is to observe life.