Econ434quotes - [Economics is] the science which studies...

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[Economics is] the science which studies human behavior as a relationship between scarce means which have alternative uses. Lionel Robbins, 1932 Essay on the Nature and Significance of Economic Science [Economics is] “…the dismal science… Thomas Carlyle Economics is the science of thinking in terms of models joined to the art of choosing models which are relevant to the contemporary world. John Maynard Keynes The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessors to draw correct conclusions. John Maynard Keynes Economy is the art of making the most of life. George Bernard Shaw Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing. Alfred Marshall (1920) Principles of Economics Eighth Edition [The study of economics is the province of] … “the overeducated in pursuit of the unknowable”. Robert Solow Thousands of habits of behavior and of enforced laws had to be developed over millennia to establish the nature and the minutiae of property rights before we could have buying and selling, instead of each man just taking what he wanted if only he was strong enough. . .. Each set of rights begins as a conflict about what somebody is doing or wants to do which affects others. .. An economic transaction is a solved political problem. Economics has gained the title of queen of the social sciences by choosing solved political problems as its domain. Abba Lerner The Economics and Politics of Consumer Sovereignty The social enthusiasm which revolts from the sordidness of mean streets and the joylessness of withered lives . . . is the beginning of economic science. Arthur Cecil Pigou
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The combined assumptions of maximizing behavior, market equilibrium, and stable preferences, used relentlessly and unflinchingly, form the heart of the economic approach. Gary Becker Price Theory p. 4 (1976) … economics itself [as a discipline] has always been partly a vehicle for the ruling ideology of each period as well as partly a method of scientific investigation. Joan Robinson(1962 Economic Philosophy) Economics is the study of money and why it is good. Woody Allen Economics is what economists do. Jacob Viner Too large a proportion of recent “mathematical” economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols. John Maynard Keynes
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This note was uploaded on 01/12/2010 for the course ECON 434 taught by Professor Byrns during the Spring '09 term at UNC.

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Econ434quotes - [Economics is] the science which studies...

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