Steve Keen: Difference

Steve Keen is Australian economist. Explore interesting quotes on difference.

Steve Keen: 54 quotes0 likes

“The term 'capital' has two quite different meanings in economics: a sum of money, and a collection of machinery.”

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 6, The Holy War Over Capital, p. 130

“The EMH cannot apply in a world in which investors differ in their expectations, in which the future is uncertain, and in which borrowing is rationed.”

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 10, The Price Is Not Right, p. 234

“What makes economics different from and inferior to other sciences is the tenacity with which it holds to its core beliefs in the face of either contrary factual evidence or theoretical critiques that establish fundamental inconsistencies in its intellectual apparatus.”

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 7, There Is Madness In Their Method, p. 158

“If there was never any difference between the value of commodities someone desired to sell and buy on the market, then no-one would ever desire to accumulate wealth. But an essential feature of capitalism is the existence of a group of agents with precisely that intention.”

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 9, The Sum Of The Parts, p. 193