“Some of the most serious fallacies of traditional economics have been due to confusion between optimum and equilibrium conditions; the apparent influence of Dr. Pangloss upon the development of economic thought is for the most part nothing but pure intellectual error.” Has BeensInfluenceEconomicConditionsSeriousDevelopmentPureIntellectualEconomicsErrorsDuesConfusionTraditionalDrsEquilibriumFallacyOptimum Author:Sir John Richard Hicks
“Investment is a flighty bird which needs to be controlled.” NeedsBirdEconomicsInvestmentControlled Author:Sir John Richard Hicks
“The best of all monopoly profits is a quiet life.” QuietEconomicsProfitMonopolyQuiet LifeMonopoly Power Author:Sir John Richard Hicks
“There is much of economic theory which is pursued for no better reason than its intellectual attraction; it is a good game. We have no reason to be ashamed of that, since the same would hold for many branches of mathematics.” ReasonGamesEconomicTheoryIntellectualEconomicsMathematicsAttractionBranchesAshamedNo ReasonPursuedEconomic Theory Author:Sir John Richard Hicks
