
Frisch (1927). as quoted in: Bjerkholt, Olav, and Duo Qin. A Dynamic Approach to Economic Theory: The Yale Lectures of Ragnar Frisch. Routledge, 2010: About "Oekonometrika"
1920
Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 8, Let's Do The Time Warp Again, p. 166
Frisch (1927). as quoted in: Bjerkholt, Olav, and Duo Qin. A Dynamic Approach to Economic Theory: The Yale Lectures of Ragnar Frisch. Routledge, 2010: About "Oekonometrika"
1920
" Gerard Debreu - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1983/debreu-bio.html". in: Les Prix Nobel. The Nobel Prizes 1983, Editor Wilhelm Odelberg, [Nobel Foundation], Stockholm, 1984; Republished at Nobelprize.org. Nobel Media AB 2014.
Larry Samuelson. Evolutionary Games and Equilibrium Selection. 1997. Overview.
Source: Probabilistic Reasoning in Intelligent Systems: Networks of Plausible Inference, 1988, p. 195
“Economic theory is devoted to the study of equilibrium positions.”
The Alchemy of Finance: Reading the Mind of the Market (1987)
Context: Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating.
“The economic concept of value does not occur in antiquity.”
(1857/58)
Source: Notebook VII, The Chapter on Capital, p. 696.
The Cosmos as a Poem (2010)
Source: Essays In Biography (1933), Alfred Marshall, p. 223