“I can date my own personal ‘revolution’ rather exactly to May or June 1933. It was like this. It began .. with Hayek." — John Hicks
Arnold Kling comes up with The Quote of the Day:
People are not employed by “the Walrasian system of general equilibrium equations.” They are employed by entrepreneurs.
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I am afraid I have become more and more skeptical of the instructive value of the constructions [of mathematical economics] by which at one time I was greatly fascinated. — F. A. Hayek
I am afraid I have become more and more skeptical of the instructive value of the constructions [of mathematical economics] by which at one time I was greatly fascinated.
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