Economics Quote by Joan Robinson

[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

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

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

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

— George Soros

“Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the…

— George Soros

The short-term international capital market is shrunken and erratic, and cannot be relied upon to cushion the effects of tendencies to disequilibrium in the…

— Gunnar Myrdal

“The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the…

— Steve Keen

As discomfiting as it is to both market optimists and policy activists, a certain amount of instability is inherent to the economy.

— Virginia Postrel

Markets are frequently ahead of, and often out of sync with, the economy.

— Barry Ritholtz

The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size…

— Alan Greenspan

It had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was thus that…

— John Kenneth Galbraith

“When economic imbalances became extreme, the lack of equilibrium and viability could threaten social and political order.”

— Joshua A. Berman