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School Quotes

“At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.”

Source: Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World

“We [The Replacements] never made any money on tour. None of us came out of the school of economics. We took it for granted that a rock and roll band gets ripped off. We've tried to shake that tree a couple of times, but what can we do? You look back, when you're sort of idle in your middle years, and think, we should have made some money.”

Thinking Should Years Looks Made School Tree Middle Rocks Couple Band Economics Should Have Granted Shakes Idle Rock And Roll Back When Ripped Replacements

Author:Paul Westerberg

“The main purpose of advertising is to undermine markets. If you go to graduate school and you take a course in economics, you learn that markets are systems in which informed consumers make rational choices. That's what's so wonderful about it. But that's the last thing that the state corporate system wants. It is spending huge sums to prevent that.”

Ifs Want States School Lasts Purpose Choices Courses Wonderful Huge Economics Spending Rational Advertising Consumers Corporate Graduates Graduate School

Author:Noam Chomsky

“The conclusion to which I am ever more clearly coming is that the only hope of attaining a true system of economics is to fling aside,once and forever, the mazy and preposterous assumptions of the Ricardian school. Our English economists have been living in a fool's paradise. The truth is with the French school, and the sooner we recognize the fact, the better it will be for all the world, except perhaps the few writers who are far too committed to the old erroneous doctrines to allow for renunciation.”

World Has Beens Facts School Forever Fool Truth Is Economics Committed Doctrine Conclusion Assumption Paradise Economist Renunciation Fling

Book:Political Economy

Source: Political Economy

“Having taught economics courses at private vocational schools and universities, I have always had a problem with GNP as a yardstick of prosperity. GNP is improved by increases in questionable activities such as consumption of cigarettes and the production of weapons. Moreover, a substantial increase in car accidents will favorably affect GNP because more funerals, hospital visits, car repairs, and new car purchases will result.”