Best Economic Models Quotes | Short & Famous Sayings

“In economics, models are spoken of as being made of physics when in truth they are made of Lego. They have that degree of provisionality and tentativeness and, importantly, rebuildability. There's a permanent invitation to take them apart and put them together again in a form that works better.”

Economics Economic Models Lego

Book:How to Speak Money: What the Money People Say — And What It Really Means

Source: How to Speak Money: What the Money People Say — And What It Really Means

“... toxic derivatives were underpinned by toxic economics, which, in turn, were no more than motivated delusions in search of theoretical justification; fundamentalist tracts that acknowledged facts only when they could be accommodated to the demands of the lucrative faith. Despite their highly impressive labels and technical appearance, economic models were merely mathematized versions of the touching superstition that markets know best, both at times of tranquility and in periods of tumult.”

Economics Markets Derivatives Economic Models

Book:The Global Minotaur: America, Europe and the Future of the Global Economy

Source: The Global Minotaur: America, Europe and the Future of the Global Economy

“The free enterprise concept inherent in the economic model of capitalism should mean common people, or lower and middle class wage-earners, have greater potential to rise up and gain financial independence. In reality, however, free enterprise all too often leads to an almost total lack of government regulation that in turn allows the global elite to run amuck in Gordon Gecko-style financial coups.”

“Nothing in these abstract economic models actually works in the real world. It doesn't matter how many footnotes they put in, or how many ways they tinker around the edges. The whole enterprise is totally rotten at the core: it has no relation to reality.”

World Way Real Matter Whole Reality Economic Models Relation Edges Core Abstract Enterprise Real World Rotten Footnotes Economic Models

Author:Noam Chomsky

“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.”

“Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically.”

Source: Break-Out from the Crystal Palace: The Anarcho-Psychological Critique: Stirner, Nietzsche, Dostoevsky

“The corporatist-economic model of society appears to be governing us. Economists, often in the pay of transnationals, are deciding, for us, what democracy is, and will be.”

Pay Democracy Economic Models Economist Governing Economic Models

Author:B. W. Powe

“Our economy is at war with many forms of life on earth, including human life. What the climate needs to avoid collapse is a contraction of humanity's use of resources; what our economic model demands to avoid collapse is unfettered expansion. Only one of these sets of rules can be changed, and it's not the laws of nature”

Source: This Changes Everything: Capitalism Vs. The Climate

“So the need for another economic model is urgent, and if the climate justice movement can show that responding to climate change is the best chance for a more just economic system.”

Ifs Needs Shows Justice Chance Economic Movement Models Climate Climate Change Global Warming Urgent Responding Economic Systems Economic Models

Author:Naomi Klein

“The fight against capitalism has many aspects, particularly the distinctive economic models that concentrate the capital in few hands.”

Hands Fighting Economic Models Capitalism Aspect Distinctive Economic Models

Author:Evo Morales

“The United States is such a potent political, cultural, and economic model in the evocation of the contemporary world, that to come here, select some elements from the prototype and rearrange them, that's really interesting artistically.”

World States Political Interesting United United States Economic Elements Models Contemporary Select Really Interesting Prototype Economic Models

Author:Bruno Dumont

“If the search is for examples that contradict the predictions of standard economic models, a good rule of thumb is to start in France.”

Ifs Economic Example Models Standards France Predictions Thumbs Economic Models

Author:Robert H. Frank

“I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.”

Way Use Understanding Interest Economic Fields Models Economics Boundaries Productive Statistics Economic Models Econometrics

Author:Lars Peter Hansen

“I think the tragedy of Barack Obama's presidency is that although a lot of people around the world really admire Barack Obama a lot, they don't admire the American political and economic model as much as they used to.”

People Thinking World Political Used Economic Models Tragedy Admire Around The World Barack Presidency Economic Models

Author:Peter Beinart

“I think ultimately Obama's ability to rebuild America's image in the world will depend less on his personal good will and more his ability to rebuild an American economic model that seems stable and humane and dynamic.”

Thinking World Seems America Ability Economic Depends Models Stable Humane Good Will Economic Models

Author:Peter Beinart

“Chile has done a lot to rid itself of poverty, especially extreme poverty, since the return to democracy. But we still have a ways to go toward greater equity. This country does not have a neoliberal economic model anymore. We have put in place a lot of policies that will ensure that economic growth goes hand in hand with social justice.”

“People will continue to make movies. But I do think the economic model of the studio movie is closing in on a kind of systemic collapse.”

People Thinking Kind Economic Models Studios Collapse Closing Economic Models

Author:Matthew Specktor

“I grew up with free television. Now, it wasn't free, there was these commercials, and so the economic model was driven through commercials and through advertising.”

Economic Television Grew Grew Up Models Driven Advertising Economic Models

Author:Nicholas Negroponte

“We are at this weird moment where there's an economic model that supports creativity. People are demanding something new and fresh.”

People Moments Creativity Support Economic Models Something New Economic Models

Author:Judd Apatow

“I remember Secretary of State [George] Shultz one day saying that America is an economic model for the world. I replied to him that America represents 5 percent of the world's population and consumes 30 percent of the world's energy. What if everyone in the world lives like Americans? Where do we get the energy for this standard of living?”

Ifs World States America Remember Energy Economic One Day Models Standards Percent Population What If Secretary Standards Of Living World Life Economic Models

Author:Mikhail Gorbachev

“Turns out, people's brains are not nearly as powerful a motivator as our hearts. Facts, data, and economic models don't move people to courageous action the way that powerful stories can.”

People Way Heart Facts Stories Action Moving Turns Powerful Brain Economic Models Data Courageous Economic Models

Author:Annie Leonard

“The reality is sometimes markets don't exist for very good reasons. It might be that there isn't a deep customer need. Or the economic model is just hard to pull off. Or maybe there is a regulatory barrier.”

Needs Sometimes Hard Reason Reality Might Economic Models Very Good Customers Barriers Economic Models

Author:Scott D. Anthony

“The most glaring deficiency in traditional economic models is that they completely ignore the role of context in evaluation.”

Roles Economic Models Traditional Deficiency Evaluation Of Context Economic Models

Author:Robert H. Frank

“Questions like, "Is my suit OK?", or "Is my job performance satisfactory?", are impossible to think about in the absence of a suitable frame of reference. For an interview suit to serve its purpose, it must make you look good relative to other candidates for the job you want. For your job performance to be satisfactory, it must compare favorably with the performance of others who want the same promotion you do. As Charles Darwin saw clearly, much of life is graded on the curve, and conventional economic models completely ignore that fact.”

“We are involved in a historic restructuring of the world economy. Virtually every country that matters has been striving to pursue the same economic model, and has bought into a set of market-based principles that has brought new players on the stage and new markets. We have to take full advantage.”

World Has Beens Country Matter Principles Economy Player Economic Stage Involved Models Advantage Strive Pursue Historic World Economy Restructuring Economic Models

Author:Chris Alexander

“A revolution is to bring on change and we're spiritual people trying to bring on spiritual change. It might sound like I'm a dreamer, but economic models have reached their height of evolution. Technology has evolved. What hasn't evolved is mankind's spirituality; everything is from 3,000 years ago.”

People Trying Years Might Spiritual Spirituality Sound Technology Economic Mankind Revolution Evolution Models Years Ago Height Dreamer Economic Models Spiritual Change

Author:Damian Marley

“We can pay the ecological debt by changing economic models, and by giving up luxury consumption, setting aside selfishness and individualism, and thinking about the people and the planet Earth.”

People Thinking Giving Earth Pay Economic Planets Giving Up Models Debt Setting Settings Luxury Selfishness Individualism Consumption Ecological Planet Earth Earth Day Economic Models

Author:Evo Morales

“Globalization and the neoliberal economic model have already been rejected in Latin America; it simply hasn't been a solution for our people. At the same time, Latin countries like Venezuela and Argentina are anti-imperialist and anti-globalization, and yet their economies are growing again.”

“The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.”

Term Challenges Vision Failing Economic Models Profound Deficit Rapids Slogans Reduction Austerity Short Sighted Muddle Economic Models

Author:Frances O'Grady

“The liberals think government exists to fix what's wrong with America. They find fault with our Constitution, our economic model and our core values. We disagree with the premise of their argument. We believe there's nothing wrong with America that an extra dose of freedom won't cure.”

Thinking Believe Government America Values Economic Models Argument Constitution Faults Core Cures Extras Disagree Premises Dose Core Values Economic Models

Author:Rick Perry

“Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than what we have now.”

Ifs Needs Giving Government Care Used Economy Economic Models Health Care Good Health Economic Models Good Health Care

Author:Benjamin Carson

“All models are wrong, but some are useful.”

Science Understanding Knowledge Models Investing Math Data Decision Making Statistics Mathematician Modeling Usefulness Modelling Statistician Approximation Economic Models Mathematical Models

Book:Response Surfaces, Mixtures, and Ridge Analyses

Source: Response Surfaces, Mixtures, and Ridge Analyses

“We must reduce all the emissions that are destroying the planet. However, that requires a change in lifestyle, a change in the economic model: We must go from capitalism to socialism.”

Economic Planets Models Capitalism Lifestyle Socialism Destroying Emissions Economic Models

Author:Hugo Chavez

“Economic theorists, like French chefs in regard to food, have developed stylized models whose ingredients are limited by some unwritten rules. Just as traditional French cooking does not use seaweed or raw fish, so neoclassical models do not make assumptions derived from psychology, anthropology, or sociology. I disagree with any rules that limit the nature of the ingredients in economic models.”

“Copies have been dethroned; the economic model built on them is collapsing. In a regime of superabundant free copies, copies are no longer the basis of wealth. Now relationships, links, connections, and sharing are. Value has shifted away from a copy toward the many ways to recall, annotate, personalize, edit, authenticate, display, mark, transfer, and engage a work. Art is a conversation, not a patent office. The citation of sources belongs to the realms of journalism and scholarship, not art. Reality can’t be copyrighted.”

“Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with everyday observation.”

Economic Periods Models Concerned Logic Observation Exploring Attempting Reconcile Economic Models

Author:Joseph Stiglitz

“It doesn't have the ability to think rationally this economic model. It thinks like a drug addict: 'Where can I get my next fix?' It doesn't learn wisely. Any kind of measure of natural wisdom would be: you make a mistake, you correct it the next time around. But a drug addict feels terrible... and then says: 'I want more'. Unfortunately we have an economic model that thinks like a crack addict.”

Thinking Want Feels Kind Would Be Next Natural Ability Mistake Economic Terrible Drug Models Environmental Cracks Be You Next Time Addict Drug Addict Economic Models

Author:Naomi Klein

“In restating this basic Christian doctrine, Benedict argues that it is not only for Christians alone. Others may not share the Christian faith in God, but the Christian proclamation that hope comes from within the person- in the realm of faith and conscience - is for them too. It offers an important protection against stifling and occasionally brutal social systems built on false hopes that come from outside the person, founded on political idealogies, economic models and social theories.”

“I have a lot of trouble understanding all the detail of finance and administration - but if you combine intellectual and professional capacity with a social conscience, you can change things: countries, structures, economic models, colonial states.”

Ifs Country States Social Understanding Trouble Economic Intellectual Models Conscience Capacity Structure Details Finance Administration Economic Models

Author:Evo Morales

“No one can solve an issue where there is no economic model yet.”

Issues Economic Models Solve Economic Models

Author:Barry Diller

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Economic Models Quotes