Attention Quote by Paul Samuelson
“An American economist of two generations ago, H. J. Davenport, who was the best friend Thorstein Veblen ever had (Veblen actually lived for a time in Davenport's coal cellar) once said: "There is no reason why theoretical economics should be a monopoly of the reactionaries." All my life I have tried to take this warning to heart, and I dare call it to your favorable attention.”
About This Quote
Source Speech: Economic Commentary, 1960s
The quote argues that economics should be open to new ideas, not controlled by conservative thinkers.
In simple terms: Economics must stay open to fresh perspectives.
Key Takeaway
Encourage diverse viewpoints in economics.
Themes
economics
openness
intellectual diversity
Mood
thoughtful
critical
Type
analytical
inspirational
When to use this quote
- academic research
- policy making
- education reform
Key Concepts
theory
monopoly
reactionary bias
Questions to Reflect On
- How can we ensure economics remains inclusive?
- What barriers keep new ideas out?
A Different Perspective
Conservatism may resist change, limiting progress.
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