|

|

Advertisements

Kenneth Arrow Quotes

Vast ills have followed a belief in certainty Picture Quote #1

My graduate study was interrupted, like that of many others, by World War II Picture Quote #1

My undergraduate education, at the City College in New York, was made possible only by the existence of that excellent free institution and the financial sacrifices of my parents Picture Quote #1

That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950 Picture Quote #1

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it’s remote, like mortgage-backed securities and their demands on automobiles Picture Quote #1

Now virtue may not always be its own reward, but in any case it is not usually bought and paid for at market rates Picture Quote #1

Advertisements

The general uncertainty about the prospects of medical treatment is socially handled by rigid entry requirements. These are designed to reduce the uncertainty in the mind of the consumer as to the quality insofar as this is possible. I think this explanation, which is perhaps the naive one, is much more tenable than any idea of a monopoly seeking to increase incomes Picture Quote #1

Knowledge is a free good. The biggest cost in its transmission is not in the production or distribution of knowledge, but in its assimilation. This is something that all teachers know Picture Quote #1

Friendship Quotes

Motivational Quotes

Inspirational Quotes

Advertisements

Text Quotes

Vast ills have followed a belief in certainty (Kenneth Arrow Quotes) My graduate study was interrupted, like that of many others, by World War II (Kenneth Arrow Quotes) My undergraduate education, at the City College in New York, was made possible only by the existence of that excellent free institution and the financial sacrifices of my parents (Kenneth Arrow Quotes) That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950. (Kenneth Arrow Quotes) The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it’s remote, like mortgage-backed securities and their demands on automobiles. (Kenneth Arrow Quotes) Now virtue may not always be its own reward, but in any case it is not usually bought and paid for at market rates (Kenneth Arrow Quotes) The general uncertainty about the prospects of medical treatment is socially handled by rigid entry requirements. These are designed to reduce the uncertainty in the mind of the consumer as to the quality insofar as this is possible. I think this explanation, which is perhaps the naive one, is much more tenable than any idea of a monopoly seeking to increase incomes (Kenneth Arrow Quotes) Knowledge is a free good. The biggest cost in its transmission is not in the production or distribution of knowledge, but in its assimilation. This is something that all teachers know (Kenneth Arrow Quotes)