Paul Ormerod

Quotes

• “The study of human societies and economics is of great importance, and it is not the purpose of the book to suggest otherwise. Rather it is to argue that conventional economics offers a very misleading view of how the world actually operates, and that it needs to be replaced.”
• “The obstacles facing academic economists are formidable, for tenure and professional advancement still depend to a large extent on a willingness to comply with and to work within the tenets of orthodox theory.”
• “The importance to Smith of the overall set of values in which the economy operates is generally ignored by his followers in the late twentieth century. His economics, based upon individual self-interest, is remembered, but his moral framework is not.”
• “At 2 per cent growth a year, an economy doubles in size in just thirty years.”
• “The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings.”
• “The second part of the New Right's policy package has been the belief that free-market solutions are always best. It is this latter view which is profoundly mistaken. Markets and profits are crucial, but the pure free-market model itself is deeply flawed.”

via Wikiquote · CC BY-SA