“I quote somewhere a correspondence with Ken Arrow, after he wrote Arrow and Hahn. I wrote to him and I said that the trouble is that neoclassical economists confuse risk with uncertainty. Uncertainty means non-probabilistic. And he said, 'Quite true, you're quite correct that Keynes is much more fruitful, but the trouble with the General Theory is, those things that were fruitful couldn't be developed into a nice precise analytical statement, and those things that could were retrogressions from Keynes but could be developed into a nice precise analytical statement.' That's why mainstream economics went that route. And my answer is, I would hope that even Nobel Prize winners didn't believe that regression is growth, which it clearly isn't. But that's right. The fear that everybody has, you see, is nihilism: you won't be able to say what's going to happen. Well, evolutionists don't worry about being unable to predict. You ask the evolutionists, who tell you what happened in the past, just what next species is going to appear, and the answer is, anything could. Right? Does that bother people? Explanation is the first thing in science. If you can't explain, you don't have anything. But you needn't necessarily predict. Now, if you know the future's uncertain, what does that mean? It means basically, the way Hicks put it in his later years, that humans have free will. The human system isn't deterministic or stochastic, which is deterministic with a random error. Humans can do thins to change the world.”

— Paul Davidson

quoted in Conversations with Post Keynesians (1995) by J. E. King

Adopted from Wikiquote. Last update June 3, 2021. History

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Paul Davidson 2

Post Keynesian economist 1930

John Fowles book The Collector

Source: The Collector

“"Curse those two time-ghosts!" he almost shrieked. "They made me quite sure you were the Time Lady! But you're not, are you? I could tell you were a real Twenty Century person with every word you said. Mickey Mouse!" he yelled.”

Diana Wynne Jones book A Tale of Time City

Source: A Tale of Time City (1987), p. 87.

“He is no wise man that will quit a certainty for an uncertainty.”

Samuel Johnson (1709–1784) English writer

No. 57 (May 19, 1759)
Bartlett's Familiar Quotations, 10th ed. (1919)

“What theory can we use to get us out of the impending slump quickly and reliably? To use the 'new classical' theory of fluctuations begun at Chicago in the 1970s – the theory in which the "risk management" models are embedded – is unthinkable, since it is precisely the theory falsified by the asset price collapse. The thoughts of some have turned to John Maynard Keynes. His insights into uncertainty and speculation were deep. Yet his employment theory was problematic and the 'Keynesian' policy solutions are questionable at best…. At the end of his life Keynes wrote of 'modernist stuff, gone wrong and turned sour and silly'. He told his friend Friedrich Hayek he intended to re-examine his theory in his next book. He would have moved on. The admiration we all have for Keynes's fabulous contributions should not sway us from moving on.”

Edmund Phelps (1933) American economist

Edmund Phelps "Keynes had no sure cure for slumps."in: The Financial Times. Columbia University, November 4, 2008.

“When he was wounded with an arrow in the ankle, and many ran to him that were wont to call him a god, he said smiling, "That is blood, as you see, and not, as Homer saith, ‘such humour as distils from blessed gods.'"”

Plutarch (46–127) ancient Greek historian and philosopher

43 Alexander
Apophthegms of Kings and Great Commanders

“Although there are other heresies in The General Theory, along with puzzles, opacities, loose ends, confusions, errors, exaggerations, and anachronisms galore, they do not detract from the book's relevance to our present troubles. Economists may have forgotten The General Theory and moved on, but economics has not outgrown it, or the informal mode of argument that it exemplifies, which can illuminate nooks and crannies that are closed to mathematics. Keynes's masterpiece is many things, but "outdated" it is not.”

Richard A. Posner (1939) United States federal judge

How I Became a Keynesian (2009)

“Peter [Sellers] was always a mixed-up guy, a childish fellow. But if you're fond of children, you're also fond of childish men. He was always very helpful to me. After he was famous, and when I was still in trouble with the US embassy, he wrote a letter in support of me which was magnificent. But it is true that he was very cruel to his children. He was so hurt by the way children treat you when you're their father. I have been hurt by my children. But he was not in possession of a proper brain when it came to these things.”

Herbert Lom (1917–2012) Czech-born film and television actor

In "Herbert Lom: The Odd Fellow" in The Independent (18 December 2004) http://www.independent.co.uk/news/people/profiles/herbert-lom-the-odd-fellow-6155719.html

“Tony Perkins wrote that out for me -- he actually wrote out 2, he wrote out the number 2 Corinthians, I took exactly what Tony said, and I said, 'Well Tony has to know better than anybody.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, January

“Time flies like an arrow. Fruit flies like a banana.”

Groucho Marx (1890–1977) American comedian

No known citation to Marx. First appears unattributed in mid-1960s logic/computing texts as an example of the difficulty of machine parsing of ambiguous statements. Google Books http://books.google.co.uk/books?client=firefox-a&lr=&as_brr=0&q=%22fruit-flies%22+%22time+flies%22+banana&btnG=Search+Books&as_drrb_is=b&as_minm_is=0&as_miny_is=1900&as_maxm_is=0&as_maxy_is=1970. The Yale Book of Quotations dates the attribution to Marx to a 9 July 1982 net.jokes post on Usenet.
Misattributed

“The best thing Clinton could do — I think I wrote him a letter about this, but I'm not sure — is to shut up…. He has no discipline.”

Barry Goldwater (1909–1998) American politician

Washington Post interview (1994)

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