„Economic history matters. Students of economics should read Charles MacKay and Charles Kindleberger, and should study the history of the Wall Street Crash as well as the theory and the mathematics required to formalize it.“

—  Adair Turner, Baron Turner of Ecchinswell, Economics after the crisis : objectives and means (2012), Ch. 2 : Financial Markets: Efficiency, Stability, and Income Distribution

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John Kenneth Galbraith photo

„Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.“

—  John Kenneth Galbraith, The New Industrial State
The New Industrial State (1967), Chapter X, Section 5, p. 122 (Mr. Galbraith was originally an agricultural economist...)

Paul Krugman photo
George Soros photo

„Economic theory is devoted to the study of equilibrium positions.“

—  George Soros Hungarian-American business magnate, investor, and philanthropist 1930
Context: Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating. The Alchemy of Finance: Reading the Mind of the Market (1987)

Harper Lee photo
Edwin Lefèvre photo

„History repeats itself all the time on Wall Street.“

—  Edwin Lefèvre, livro Reminiscences of a Stock Operator
Reminiscences of a Stock Operator (1923), Chapter XVIII, p. 217

Paul A. Samuelson photo
Georges Seurat photo
Mortimer J. Adler photo
Samuel Bowles photo
Anna Quindlen photo

„The history of science should not be an instrument to defend any kind of social or philosophic theory; it should be used only“

—  George Sarton American historian of science 1884 - 1956
A History of Science Vol.1 Ancient Science Through the Golden Age of Greece (1952), Context: The history of science should not be an instrument to defend any kind of social or philosophic theory; it should be used only for its own purpose, to illustrate impartially the working of reason against unreason, the gradual unfolding of truth, in all its forms, whether pleasant or unpleasant, useful of useless, welcome or unwelcome. Preface.

Gérard Debreu photo

„I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.“

—  Gérard Debreu French economist and mathematician 1921 - 2004
" Gerard Debreu - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1983/debreu-bio.html". in: Les Prix Nobel. The Nobel Prizes 1983, Editor Wilhelm Odelberg, [Nobel Foundation], Stockholm, 1984; Republished at Nobelprize.org. Nobel Media AB 2014.

Chester W. Wright photo
Benjamin Disraeli photo

„Read no history: nothing but biography, for that is life without theory.“

—  Benjamin Disraeli British Conservative politician, writer, aristocrat and Prime Minister 1804 - 1881
Books, Coningsby (1844), Contarini Fleming (1832), Part 1, Chapter 23.

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