A question settled by violence, or in disregard of law, must remain unsettled forever.
The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.
We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.
I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How do I build a small firm for myself?’ The answer seems obvious: Buy a very large one and just wait.
The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies.
In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.
Books proliferate, and occasionally sell in very large numbers, which claim to have found the rule, or small set of rules, which will guarantee business success. But business is far too complicated, far too difficult an activity to distil into a few simple commands. . . It is failure rather than success which is the distinguishing feature of corporate life.
Science is not about consensus, and consensus is not science.
I still believe that man, not having been given the power of creation, does not posses the right of destroying the meanest creature that lives. The perogative of destruction belongs solely to the Creator of all that lives.
Jung Min’s palms are always sweating and he wears strange socks!
I do not need the idea of God to explain the world I live in.