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Paul Ormerod Quotes: By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.
         

By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.


Paul Ormerod
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Other quotes of Paul Ormerod


The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies.

The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies.



Baseball players or cricketers do not need to be able to solve explicitly the non-linear differential equations which govern the flight of the ball. They just catch it.

Baseball players or cricketers do not need to be able to solve explicitly the non-linear differential equations which govern the flight of the ball. They just catch it.



The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.

The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.



Even in financial markets, the concept of market efficiency does not hold.

Even in financial markets, the concept of market efficiency does not hold.



Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.



The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.



The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings.

The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings.



At 2 per cent growth a year, an economy doubles in size in just thirty years.

At 2 per cent growth a year, an economy doubles in size in just thirty years.



Despite the high salaries involved, employing economists is a cost-effective way for banks, and stockbrokers to secure exposure in the media.

Despite the high salaries involved, employing economists is a cost-effective way for banks, and stockbrokers to secure exposure in the media.





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I don't mind if you forget me.Having learned my lesson, I never left an impression on anyone.

I don't mind if you forget me.Having learned my lesson, I never left an impression on anyone.



I don't do that kind of negativity. If you put your energy into thinking about how much the fall would hurt, you're already halfway down.

I don't do that kind of negativity. If you put your energy into thinking about how much the fall would hurt, you're already halfway down.



The role of gender in society is the most complicated thing I’ve ever spent a lot of time learning about, and I’ve spent a lot of time learning about quantum mechanics.

The role of gender in society is the most complicated thing I’ve ever spent a lot of time learning about, and I’ve spent a lot of time learning about quantum mechanics.



The air is the only place free from prejudices.

The air is the only place free from prejudices.



The first thing I look for in a woman is warmth-femininity. It's got nothing to do with a pretty face.

The first thing I look for in a woman is warmth-femininity. It's got nothing to do with a pretty face.



I tend to play a lot of blues things at home, because most blues things are basically within a 12-bar pattern.

I tend to play a lot of blues things at home, because most blues things are basically within a 12-bar pattern.



To ask me is in vain; For who goes up your winding stair Can ne'er come down again.

To ask me is in vain; For who goes up your winding stair Can ne'er come down again.



Hope isn't an abstract theory about where human aspirations end and the impossible begins; it's a never-ending experiment, continually expanding the boundaries of the possible.

Hope isn't an abstract theory about where human aspirations end and the impossible begins; it's a never-ending experiment, continually expanding the boundaries of the possible.



Above all things, respect yourself.

Above all things, respect yourself.



Everyone needs a touch.

Everyone needs a touch.




Quote Description


This page presents the quote "By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.". Author of this quote is Paul Ormerod. This quote is about economics, discipline, whole, lacking, reasonable, criteria,.