Behavior Quote by Paul Ormerod

“The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.” quote by Paul Ormerod — Download Open image

“The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.”

Paul Ormerod

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Behavior Built Economics Economy Equations Habits Individual Levels Macro Whole

More by Paul Ormerod

The second part of the New Right's policy package has been the belief that free-market solutions are always best. It is this latter view…

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Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the…

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The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms…

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But Adam Smith was a philosopher as well as well as an economist, famous in his time as much for his Theory of Moral…

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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…

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In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the…

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The obstacles facing academic economists are formidable, for tenure and professional advancement still depend to a large extent on a willingness to comply with…

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Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

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Many Europeans, while admiring the strength and power of the American economy, undoubtedly feel that the system of social values which prevails in the…

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By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.

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The model of competitive equilibrium which has been discussed so far is set in a timeless environment. People and companies all operate in a…

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The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings.

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Explore all 20 Paul Ormerod quotes

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The vision of the left, full of envy and resentment, takes its worst toll on those at the bottom - whether black or white…

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By making conscious choices in our behavior and where we focus our attention, we can transform our experience of our body, decrease our biological…

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As you begin changing your thinking, start immediately to change your behaviour. Begin to act the part of the person you would like to…

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“I now know that deep within the human concept is something dark, selfish, and completely willing to do whatever is necessary to support the…

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The number of poor, and poorly prepared, students who succeed in college and beyond undercuts the simplistic notion that economic or educational disadvantage is…

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To behave creatively in art means behavior with skill; and skill comes from discipline, not derangement. The artist who knows the rules -and proportion…

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You don't put milk in chamomile tea - that's disgusting behavior! That's not right.

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The laws of thermodynamics, as empirically determined, express the approximate and probable behavior of systems of a great number of particles, or, more precisely, they express the laws of mechanics for such systems as they appear to beings who have not the fineness of perception to enable them to appreciate quantities of the order of magnitude of those which relate…

J. Willard Gibbs

I started with the belief that every person who came to the laboratory was free to accept or to reject the dictates of authority. This view sustains a conception of human dignity insofar as it sees in each man a capacity for choosing his own behavior. And as it turned out, many subjects did, indeed, choose to reject the experimenter's…

Stanley Milgram