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Discipline Quotes

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Discipline Quotes

“Unlike the position that exists in the physical sciences, in economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important ones.”

May Important Deals Events Position Discipline Aspect Economics Complexes Data Phenomenon Physical Science

Author:Friedrich August von Hayek

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

States Whole Discipline Economics Reasonable Lacking Criteria

Author:Paul Ormerod

“Unless the fundamental categories of economics such as 'property' were to be redefined in a radically personal way the liberal rationalist curse which had established economics as a scientific discipline cut off from human interests would proliferate. Economic models ... have failed to incorporate any meaningful index of individual benefit other than the original utilitarian one, ... the index of increasing income or an increasing flow of commodities.”

“If you were starting from scratch to invent an instrument that could impose fiscal discipline, the last one on earth you would come up with is the United States government.”

Ifs States Government Earth Lasts United United States Discipline Economics Instruments Starting Come Up Scratches State Government United States Government

Author:Meg Greenfield

“Economics as a discipline has in effect become the study of capitalism. The two are taken as the same subject.”

Two Study Taken Subjects Effects Discipline Capitalism Economics

Author:John Lanchester

“There's a snobbery at work in architecture. The subject is too often treated as a fine art, delicately wrapped in mumbo-jumbo. In reality, it's an all-embracing discipline taking in science, art, maths, engineering, climate, nature, politics, economics.”

Art Reality Subjects Fine Discipline Economics Climate Math Architecture Treated Engineering Fine Arts Snobbery

Author:Norman Foster

“If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.”

People Ifs Needs Persons Different School Deals Teach Teaching Discipline Economics Profession

Author:Charles Koch

“The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.”

Real Discipline Losing Economics Customers Employment Fraud Hype Workmen Negligence

Book:An inquiry into the nature and causes of the wealth of nations

Source: An inquiry into the nature and causes of the wealth of nations

“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.”

People States Political Liberty Opinion Economic Subjects Crime Ignorance Discipline Economics Libertarian Ignorant Loud Irresponsible

Author:Murray Rothbard

“Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which turn out to be wrong, but all of which ultimately point to the right answer. Now Keynes, in 'The General Theory of Employment, Interest and Money,' set forth a hypothesis which was a beautiful one, and it really altered the shape of economics. But it turned out that it was a wrong hypothesis. That doesn't mean that he wasn't a great man!”

People Men Mean Beautiful Turns Interest Answers Progress Theory Discipline Shapes Economics Employment Great Men Economist Hypothesis Altered Right Answers Keynes

Author:Milton Friedman

“Economic development is something much wider and deeper than economics, let alone econometrics. Its roots lie outside the economic sphere, in education, organisation, discipline and, beyond that, in political independence and a national consciousness of self-reliance.”

“The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave toward him as if he performed it with the greatest diligence and ability.”

Ifs Interest Ability Cases Objects Students College Masters Duty Discipline Authority Benefits Economics University Ease Behave Neglect Diligence Colleges And Universities

Author:Adam Smith

“The attempt to isolate economics from other disciplines-notably politics, history, philosophy, finance, constitutional theory and sociology-has fatally disabled its power to explain what is happening in the world.”

World Philosophy Theory Discipline Happenings Economics Finance Sociology Disabled

Author:Will Hutton

“As a scholarly discipline, economics has always suffered from physics envy.”

Discipline Economics Envy Physics Scholarly

Author:Robert Kuttner

“The discipline of economics has yet to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences.”

Passion Social Discipline Research Economics Mathematics Historical Over It Expenses Collaboration Get Over Speculation Theoretical Ideological Social Science Historical Research

Author:Thomas Piketty

“RE: GSEs like Freddie Mac & Fannie Mae: "creditors will continue to underprice the risk-taking of these financial institutions, overfund them, and fail to provide effective market discipline Facing prices that are too low, systemically important firms will take on too much risk."”

Important Philosophy Political Too Much Failing Risk Discipline Lows Economics Institutions Financial Firm Macs Risk-taking Creditors Financial Institutions Mae

Author:Gary H. Stern

“People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.”

“It's a great discipline to have to report to somebody, even if you're the sole owner”

Ifs Business Discipline Economics Management Reports Owners Sole

Author:Tim O'Reilly