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Joan Robinson Quotes

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Famous Joan Robinson Quotes

“The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.”

FirstsPastOrderPoliticsNatureCommunityDifferencesWorkMoneyAcceptingHistoryEconomyGenerationsHuman NaturePolicyEternalCapitalismEconomicsRegardFundamentalsStrategySocialismPassingPassingsTraditionalOrthodoxTransitionCapitalistPhasesSocialistEconomistSocialist Economy
Book:Essay on Marxian Economics
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“The orthodox doctrines of economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.”

LastsClearEffectsCenturyMessagesStandardsEconomicsGoldTradeProfitPursuitDoctrineEnterpriseOrthodoxQuartersDominantNineteenth CenturyFree TradePrivate EnterpriseGold Standard
Book:Economic heresies: some old-fashioned questions in economic theory
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“Not only subjective poverty is never overcome by growth, but absolute poverty is increased by it. ... Absolute misery grows while wealth increases.”

GrowsGrowthWealthPovertyEconomicsOvercomingIncreaseAbsolutesMiserySubjective
Book:The Second Crisis of Economic Theory: And Other Selected Papers from the American Economic Meeting, December 27-29, 1971
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“Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.”

NeedsShouldProblemGrowthWealthPayAttentionKnownPovertyCryCapitalismEconomicsShould HaveUniversalPraiseRaisedBottomSolveDisappearEmploymentLiftsPay AttentionBotherEconomistImpressiveReducingShould Have KnownShould Have Known BetterReducing Poverty
Book:Contributions to Modern Economics
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