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One of the main effects…of orthodox traditional economics was…a plan for explaining to the privileged class that their position was morally right and was necessary for the welfare of society. — Joan Robinson · 1937Economics limps along with one foot in untested hypotheses and the other in untestable slogans. — Joan Robinson · 1962
But this long run is a misleading guide to current affairs. In the long run we are all dead. — John Maynard Keynes · 1924Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose. — John Maynard Keynes · 1919
Trickle-down theory—the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows. — John Kenneth Galbraith · 1992
Very few people spend other people's money as carefully as they spend their own. — Milton Friedman · 1975
Productivity isn't everything, but in the long run it is almost everything. — Paul Krugman · 1994
Not a "gay science," I should say, like some we have heard of; no, a dreary, desolate, and, indeed, quite abject and distressing one: what we might call, by way of eminence, the dismal science. — Thomas Carlyle · 1849