Marc Faber, economist, as quoted in " Raghuram Rajan only central banker I trust, he should get Nobel in Economics: Marc Faber http://articles.economictimes.indiatimes.com/2015-08-12/news/65490521_1_marc-faber-rbi-governor-boom-doom-report", The Economic Times (12 August 2015)
“Economics should be under no illusion that central banking will ever become a science.”
Source: The theory of money, 1978, p. 296
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Jürg Niehans 5
Swiss economist 1919–2007Related quotes
“Economics never was a dismal science. It should be a realistic science.”
[Samuelson, Paul Anthony, Puttaswamaiah, K., 2002, Paul Samuelson and the Foundations of Modern Economics, 10 http://books.google.co.uk/books?id=_Lvflq4Wv-wC&lpg=PP1&pg=PA10]
New millennium
Business Adventures: Twelve Classic Tales from the World of Wall Street
“Nationalisation of the Reichsbank Pub. Ltd. Co., and the central banks.”
Source: The German State on a National and Socialist Foundation (1923), p. 54
Source: 1950s, A Reconstruction of Economics, 1950, p. vii
“This is the central illusion in life: that randomness is a risk, that it is a bad thing …”
Source: Antifragile: Things That Gain from Disorder (2012), p. 84
Letter to a General Pinto<!-- (perhaps ?) late 1840s-->, as quoted in Captain of the Andes : The Life of José de San Martín, Liberator of Argentina, Chile and Peru (1943) by Margaret Hayne Harrison, p. 196
Context: One should be under no illusions as to the future of the Old World. The real contest in the present day is purely social. In a word the struggle lies between him who has nothing and him who has. Figure out the consequences of such a principle, infiltrated in the masses by the harangues of the clubs and the reading of millions of pamphlets.
“The economic illusion is the belief that social justice is bad for economic growth.”
Introduction, p. 1 (First text line.)
The Economic Illusion (1984)