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Theory Quotes

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Theory Quotes

“As for me, my literary theory, like my politics, is based chiefly upon one main idea, to wit, the idea of freedom. I am, in brief, a libertarian of the most extreme variety, and know of no human right that is one-tenth as valuable as the simple right to utter what seems (at the moment) to be the truth”

“I have a name for people who went to the extreme efficient market theory-which is "bonkers". It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.”

“I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.”

“As often as Herman had witnessed the slaughter of animals and fish, he always had the same thought: in their behaviour toward creatures, all men were Nazis. The smugness with which man could do with other species as he pleased exemplified the most extreme racist theories, the principle that might is right.”