Concepts Quote by George Soros

We know, in other words, the general conditions in which what we call, somewhat misleadingly, an equilibrium will establish itself: but we never know…

— Friedrich August von Hayek

There is no such thing as economics, only social science applied to economic problems.

— Kenneth E. Boulding

No one is entertained by economics.

— Michael Moore

There is no pure free-market economy.

— Jeane Kirkpatrick

[The notion of equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of…

— Kenneth E. Boulding

Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.

— Robert Higgs

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.

— Ronald Coase

I’ve since come to understand that the universe operates on the same general equilibrium theory as markets.It never gives you something without making you…

— Gayle Forman

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock…

— Joan Robinson

Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.

— William Stanley Jevons

Economics is concerned with what emerges, not what anyone intended.

— Thomas Sowell

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of…

— Paul Ormerod