35 quotes found
American economist · American · 1910–1993
British-American economist (1910–1993)
“The process of consumption... is the final act in the economic drama”
“Theories without facts may be barren, but facts without theories are meaningless.”
“Nothing fails like success because we don't learn from it. We learn only from failure.”
“In any evolutionary process even in the arts the search for novelty becomes corrupting.”
“The greater the penalties laid on sellers in the black market... the higher the black market price.”
“Canada has no cultural unity no linguistic unity no religious unity no economic unity no geographic unity. All it has is unity.”
“We are not sent into this world to walk it in solitude. We are born to love, as we are born to breathe and eat and drink. The babe is hardly separated from his mother’s womb before he stretches out...”
“The ultimate causes of price - to use a Classical term - lie deeply embedded in the psychology and techniques of mankind and his environment, and are as manifold as the sands of the sea. All econom...”
“Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may ...”
“The task of presenting a systematic, orderly, and accurate account of economic analysis is identical with the task of preparing the material for teaching. It must be emphasized, however, that the p...”
“A distinguished economist, on being asked to define the subject matter of his science, once replied, Economics is what economists do.”
“We have defined the main task of economic analysis as the explanation of the magnitudes of economic quantities. The student will find also that the main part of this, as of most other works on the ...”
“Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole ...”
“[In this auction we may expect the article to be sold to] the most eager buyer at a price which is just about the highest he is willing to pay, for in this case the most eager buyer does not know w...”
“Mathematicians themselves set up standards of generality and elegance in their exposition which are a bar to understand.”
“A firm may be defined as an institution which buys things, transforms them in some way, and then sells them with the purpose of making a profit. The things a firm buys we shall call inputs. The thi...”
“A business, therefore, is a process whereby certain inputs, valued in dollars in some way, are transformed into outputs, also valued in dollars in some way. p. 377”
“Just as there are inputs which are supplied by the owner of a business, and whose value therefore is a virtual, not an actual, expense, so there can be outputs which are consumed by the owner of a ...”
“[The consumer is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed.”