Philosophy Quotes

"The assumption of rational agents is a convenience of theory, not a description of reality."

"The economy needs continuous stability and stimulus because its natural state is not equilibrium."

"Freed from the assumption of perfect information, we can better understand human behavior."

"Philosophy and economics share the quest for understanding human nature."

"The relationships between industries are as important as the industries themselves in determining economic outcomes."

"The production of one commodity inevitably requires the consumption of many others."

"The input-output table is a mirror reflecting the structure of human cooperation."

"The economy is a machine of human making, and like all machines, it can be studied, understood, and improved."

"Economic data tells us what is possible; human values tell us what is desirable."

"The observer cannot remain truly neutral when studying human behavior."

"The rational actor is a myth useful for economists but misleading about humans."

"Every act of social analysis is also an act of moral judgment."

"We are all shaped by the times in which we live, often without knowing it."

"The study of society without commitment to justice is sterile."

"Human behavior cannot be reduced to simple economic calculation."

"The scholar must be both objective and committed."

"Structure and agency are not opposites but interpenetrating forces."

"In measuring what matters, we often miss what is immeasurable."

"We measure national income, but how do we measure national character?"

"The study of income distribution reveals the soul of an economy."

"The quantifiable is not always the significant."

"Cycles teach us that nothing permanent is stable, and nothing stable is permanent."

"The study of income is the study of human dignity."

"The economist's first duty is to question their own assumptions."

"We count what we value, but do we value what we count?"

"The Kuznets curve is a meditation on the nature of human progress."

"I think the purpose of open debate is partly to inform and partly to let people feel they have been heard."

"The accumulation of capital is not the only purpose of human life."

"We must distinguish between what is and what ought to be."

"Human beings are not rational maximizers; they are social creatures."