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Joan Robinson Quotes

Economist

Joan Robinson was a British economist renowned for her work on imperfect competition theory and labor theory of value. Her contributions have had a profound impact on the development of economics.

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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.”

Source: Essay on Marxian Economics

“The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money are the only ones that ought to count.”

Firsts Values Term Ought Essentials Economics Ideology Combat Economist

Book:Economic philosophy

Source: Economic philosophy

“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.”

Source: Contributions to Modern Economics

“I do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had already found out how to cure unemployment before Keynes had finished explaining why it occured.”

Found Revolution Late Intellectual Tragedy Regard Finished Contrary Cures Triumph Unemployment Economist Explaining Keynes

Book:The Second Crisis of Economic Theory: And Other Selected Papers from the American Economic Meeting, December 27-29, 1971

Source: The Second Crisis of Economic Theory: And Other Selected Papers from the American Economic Meeting, December 27-29, 1971

“Economic theorists should not make such a production about taking a rabbit out of a hat after having put the rabbit into the hat in full view of the audience.”

Should Views Audience Economic Productions Hats Economist Rabbits Theorists

Author:Joan Robinson

“The point of studying economics is so as not to be fooled by economists.”

Study Economics Economist Fooled Studying Economics

Author:Joan Robinson

“The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.”

Made Purpose Answers Learning Study Economic Ready Economics Acquire Deceit Avoiding Economist Deceived Smart Women Being Deceived Studying Economics

Author:Joan Robinson

“It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.”

Shows Business Principles Economist Accord

Book:Economic philosophy

Source: Economic philosophy