Paul Ormerod: Economics

Paul Ormerod is English economist. Explore interesting quotes on economics.

Paul Ormerod: 40 quotes0 likes

“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.”

Paul Ormerod book The Death of Economics

Preface to the Paperback Edition, p. vii
The Death of Economics (1994)

“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.”

Paul Ormerod book The Death of Economics

Part I, Chapter 1, Economics in Crisis, p. 14
The Death of Economics (1994)

“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.”

Paul Ormerod book The Death of Economics

Part II, Chapter 8, The Dynamics of Unemployment, p. 162
The Death of Economics (1994)

“By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.”

Paul Ormerod book The Death of Economics

Part I, Chapter 5, Mechanistic Modelling, p. 112
The Death of Economics (1994)