Assumption Quote by William Stanley Jevons
“The conclusion to which I am ever more clearly coming is that the only hope of attaining a true system of economics is to fling aside,once and forever, the mazy and preposterous assumptions of the Ricardian school. Our English economists have been living in a fool's paradise. The truth is with the French school, and the sooner we recognize the fact, the better it will be for all the world, except perhaps the few writers who are far too committed to the old erroneous doctrines to allow for renunciation.”
About This Quote
Source Book: Theory of Political Economy, William Stanley Jevons, 1871
The author argues that true economic theory requires abandoning outdated Ricardian assumptions and adopting French ideas, which he sees as more realistic and beneficial.
In simple terms: Economics must drop old ideas for better ones.
Key Takeaway
Embrace new economic frameworks.
Themes
economics
theory
reform
Mood
critical
analytical
Type
philosophical
inspirational
When to use this quote
- policy making
- academic curricula
- financial analysis
- public discourse
Key Concepts
Ricardianism
French school
methodology
Questions to Reflect On
- How can we challenge entrenched economic beliefs?
- What benefits could French economic ideas bring?
A Different Perspective
Old doctrines persist due to entrenched interests.
