“Usually it is easier to obtain estimates for budget proportions and Engel elasticities than for elasticities with respect to price. By making certain want independence assumptions, the elasticities with respect to price can be deduced from the knowledge of budget proportions and Engel elasticities. In this connection the concept of the flexibility of the marginal utility of money is essential. A system of formulae decribing these relations is given.”

— Ragnar Frisch

Ragnar Frisch. " A complete scheme for computing all direct and cross demand elasticities in a model with many sectors http://econ.ucdenver.edu/beckman/Research/readings/frisch-demand-econometrica.pdf." Econometrica 27.2 (1959): 177-196.
1940-60s

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Ragnar Frisch 26

Norwegian economist 1895–1973

David Gubbins (1947) British university teacher

[Seismology and plate tectonics, Cambridge, UK; New York, Cambridge University Press, 1990, http://books.google.com/books?id=tZRxPzwoChIC&pg=PA4] (pp. 4–5)
Seismology and Plate Tectonics (1990)

“High elasticity means that unit output goes up more than prices went down, so you get a growth business.”

Andy Kessler (1958) American writer

Part II, Revolution, Meeting Mr. Zed, p. 42.
Running Money (2004) First Edition

“The soul is made of stuff so mysteriously elastic that a single event can make it big enough to contain the infinite.”

Stefan Zweig book The Post Office Girl

The Post Office Girl (published posthumously in 1982)

“What properties are essential to a medium capable of transmitting wave motion? Roughly, we may say two: elasticity and inertia.”

Oliver Lodge (1851–1940) British physicist

The Ether of Space https://books.google.com/books?id=ycgEAAAAYAAJ&pg=PA3, p. 3
The Ether of Space (1909)

“There is nothing that makes the mind more elastic and expandable than discovering how the world works. Developing and rewarding curiosity will be where innovation finds its future.”

Edgar Bronfman, Sr. (1929–2013) Canadian-American businessman

From an editorial on Inside Higher Ed. http://www.insidehighered.com/views/2013/10/17/liberal-arts-are-best-preparation-even-business-career-essay.

“I have… attempted to throw some new light on the general properties of matter in other forms: and on the doctrine of heat, which is materially concerned in them; and to deduce some useful conclusions from a comparison of various experiments on the elasticity of steam, on evaporation, and on the indications of hygrometers.”

Thomas Young (scientist) (1773–1829) English polymath

Preface
A Course of Lectures on Natural Philosophy and the Mechanical Arts (1807)

“We must give the system sufficient factors of stability to enable it to work; but we must not assume that these forces are so powerful as to prevent the system from being liable to fluctuations. There must be a tendency to rigidity of certain prices, particularly wage-rates; but there must also be a tendency to rigidity of certain price-expectations as well, in order to provide an explanation for the rigidity of these prices… Indeed we should do better to assume a good deal of variation in different people’s elasticities of expectations… Of course the way in which a population is divided with respect to this sort of sensitivity will vary very much in different circumstances… We have to be prepared to deal with a range of possible cases, varying from that of a settled community, which has been accustomed to steady conditions in the past (and which, for that reason, is not easily disturbed in the present), to that of a community which has been exposed to violent disturbances of prices (and which may have to be regarded, in consequence, as being economically neurotic.”

John Hicks (1904–1989) British economist

Source: Value and capital, (1939), p. 271–2; as cited in: Roberto Scazzieri, ‎Amartya Sen, ‎Stefano Zamagni (2008) Markets, Money and Capital: Hicksian Economics for the Twenty First Century, p. 161

“In this instant, shaken to her very depths, this ecstatic human being has a first inkling that the soul is made of stuff so mysteriously elastic that a single event can make it big enough to contain the infinite.”

Stefan Zweig (1881–1942) Austrian writer

Source: The Post-Office Girl

“Our design, not respecting arts, but philosophy, and our subject, not manual, but natural powers, we consider chiefly those things which relate to gravity, levity, elastic force, the resistance of fluids, and the like forces, whether attractive or impulsive; and therefore we offer this work as mathematical principles of philosophy; for all the difficulty of philosophy seems to consist in this — from the phenomena of motions to investigate the forces of nature, and then from these forces to demonstrate the other phenomena…”

Isaac Newton book Philosophiae Naturalis Principia Mathematica

Preface
Philosophiae Naturalis Principia Mathematica (1687)

“The size of a firm influences its competitive policies in a number of ways. In the first place the scale of its purchases and sales relative to the total volume of transactions in the firm's market is one indication of the extent of its market control. Taken in conjunction with other data it may throw a good deal of light on price and production policies. Certain authorities, on the other hand, brush aside figures on the relative size of firms as irrelevant and emphasize the decisive importance of the elasticity of the firm's demand curve. 3 It would no doubt be extremely convenient if economists knew the shape of individual demand and cost curves and could proceed forthwith, by comparisons of price and marginal cost, to conclusions regarding the existing degree of monopoly power. The extent to which the monopoly theorists, however, refrain from an empirical application of their formulae is rather striking.”

Edward S. Mason (1899–1992) American economist

Source: "Price and production policies of large-scale enterprise," 1939, p. 62

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