Quotes of All Topics . Occasions . Authors
All models are wrong, but some are useful.
No one can solve an issue where there is no economic model yet.
The most glaring deficiency in traditional economic models is that they completely ignore the role of context in evaluation.
We are at this weird moment where there's an economic model that supports creativity. People are demanding something new and fresh.
If the search is for examples that contradict the predictions of standard economic models, a good rule of thumb is to start in France.
The fight against capitalism has many aspects, particularly the distinctive economic models that concentrate the capital in few hands.
People will continue to make movies. But I do think the economic model of the studio movie is closing in on a kind of systemic collapse.
I grew up with free television. Now, it wasn't free, there was these commercials, and so the economic model was driven through commercials and through advertising.
Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with everyday observation.
The corporatist-economic model of society appears to be governing us. Economists, often in the pay of transnationals, are deciding, for us, what democracy is, and will be.
So the need for another economic model is urgent, and if the climate justice movement can show that responding to climate change is the best chance for a more just economic system.
We must reduce all the emissions that are destroying the planet. However, that requires a change in lifestyle, a change in the economic model: We must go from capitalism to socialism.
I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.
The reality is sometimes markets don't exist for very good reasons. It might be that there isn't a deep customer need. Or the economic model is just hard to pull off. Or maybe there is a regulatory barrier.
I think the tragedy of Barack Obama's presidency is that although a lot of people around the world really admire Barack Obama a lot, they don't admire the American political and economic model as much as they used to.
I think ultimately Obama's ability to rebuild America's image in the world will depend less on his personal good will and more his ability to rebuild an American economic model that seems stable and humane and dynamic.
The United States is such a potent political, cultural, and economic model in the evocation of the contemporary world, that to come here, select some elements from the prototype and rearrange them, that's really interesting artistically.
The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.
I have a lot of trouble understanding all the detail of finance and administration - but if you combine intellectual and professional capacity with a social conscience, you can change things: countries, structures, economic models, colonial states.
Unlike Hegel's progress model of history, which moves by stages, each containing its own logic of growth and decline, the economic model develops as the simple function of one money-variable over time, with a long-term trend which increases monotonically.
Nothing in these abstract economic models actually works in the real world. It doesn't matter how many footnotes they put in, or how many ways they tinker around the edges. The whole enterprise is totally rotten at the core: it has no relation to reality.
Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than what we have now.
Globalization and the neoliberal economic model have already been rejected in Latin America; it simply hasn't been a solution for our people. At the same time, Latin countries like Venezuela and Argentina are anti-imperialist and anti-globalization, and yet their economies are growing again.
We are involved in a historic restructuring of the world economy. Virtually every country that matters has been striving to pursue the same economic model, and has bought into a set of market-based principles that has brought new players on the stage and new markets. We have to take full advantage.
Our economy is at war with many forms of life on earth, including human life. What the climate needs to avoid collapse is a contraction of humanity's use of resources; what our economic model demands to avoid collapse is unfettered expansion. Only one of these sets of rules can be changed, and it's not the laws of nature
Chile has done a lot to rid itself of poverty, especially extreme poverty, since the return to democracy. But we still have a ways to go toward greater equity. This country does not have a neoliberal economic model anymore. We have put in place a lot of policies that will ensure that economic growth goes hand in hand with social justice.
I remember Secretary of State [George] Shultz one day saying that America is an economic model for the world. I replied to him that America represents 5 percent of the world's population and consumes 30 percent of the world's energy. What if everyone in the world lives like Americans? Where do we get the energy for this standard of living?
It doesn't have the ability to think rationally this economic model. It thinks like a drug addict: 'Where can I get my next fix?' It doesn't learn wisely. Any kind of measure of natural wisdom would be: you make a mistake, you correct it the next time around. But a drug addict feels terrible... and then says: 'I want more'. Unfortunately we have an economic model that thinks like a crack addict.
Economic theorists, like French chefs in regard to food, have developed stylized models whose ingredients are limited by some unwritten rules. Just as traditional French cooking does not use seaweed or raw fish, so neoclassical models do not make assumptions derived from psychology, anthropology, or sociology. I disagree with any rules that limit the nature of the ingredients in economic models.
Unless the fundamental categories of economics such as 'property' were to be redefined in a radically personal way the liberal rationalist curse which had established economics as a scientific discipline cut off from human interests would proliferate. Economic models ... have failed to incorporate any meaningful index of individual benefit other than the original utilitarian one, ... the index of increasing income or an increasing flow of commodities.
In restating this basic Christian doctrine, Benedict argues that it is not only for Christians alone. Others may not share the Christian faith in God, but the Christian proclamation that hope comes from within the person- in the realm of faith and conscience - is for them too. It offers an important protection against stifling and occasionally brutal social systems built on false hopes that come from outside the person, founded on political idealogies, economic models and social theories.
Copies have been dethroned; the economic model built on them is collapsing. In a regime of superabundant free copies, copies are no longer the basis of wealth. Now relationships, links, connections, and sharing are. Value has shifted away from a copy toward the many ways to recall, annotate, personalize, edit, authenticate, display, mark, transfer, and engage a work. Art is a conversation, not a patent office. The citation of sources belongs to the realms of journalism and scholarship, not art. Reality can’t be copyrighted.
Questions like, "Is my suit OK?", or "Is my job performance satisfactory?", are impossible to think about in the absence of a suitable frame of reference. For an interview suit to serve its purpose, it must make you look good relative to other candidates for the job you want. For your job performance to be satisfactory, it must compare favorably with the performance of others who want the same promotion you do. As Charles Darwin saw clearly, much of life is graded on the curve, and conventional economic models completely ignore that fact.