„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, Ch. 2 : Financial Markets: Efficiency, Stability, and Income Distribution

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„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 American economist and diplomat 1908 - 2006
Chapter X, Section 5, p. 122 (Mr. Galbraith was originally an agricultural economist...)

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

—  Edwin Lefèvre American journalist 1871 - 1943
Chapter XVIII, p. 217

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„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)

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„Mathematics as an Element in the History of Thought.“

—  Alfred North Whitehead English mathematician and philosopher 1861 - 1947