Quote

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.

Joan Robinson

Change background

T
T
T

Change font

TAGS & TOPICS

Joan Robinson
Age: 79 †
Born: 1903
Born: October 31
Died: 1983
Died: August 5
Economist
University Teacher
Camberley
Surrey
Joan Violet Robinson
Joan Violet Maurice
Economy
Knock
Within
Contain
Period
Point
Periods
May
Soon
Going
Short
View
Incompatibility
Views
Equilibrium

More quotes by Joan Robinson

Image
Economic theorists should not make such a production about taking a rabbit out of a hat after having put the rabbit into the hat in full view of the audience.
Joan Robinson
Image
There is no such thing as a normal period of history. Normality is a fiction of economic textbooks.
Joan Robinson
Image
Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.
Joan Robinson
Image
There is an unearthly, mystical element in Friedman's thought. The mere existence of a stock of money somehow promotes expenditure. But insofar as he offers an intelligible theory, it is made up of elements borrowed from Keynes.
Joan Robinson
Image
Capital' is not what capital is called, it is what its name is called.
Joan Robinson
Image
I do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had already found out how to cure unemployment before Keynes had finished explaining why it occured.
Joan Robinson
Image
Marxism is the opium of the Marxists.
Joan Robinson
Image
The point of studying economics is so as not to be fooled by economists.
Joan Robinson
Image
When I came up to Cambridge (in October 1921) to read economics, I did not have much idea of what it was about.
Joan Robinson
Image
The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money are the only ones that ought to count.
Joan Robinson
Image
A depression is a situation of self-fulfilling pessimism.
Joan Robinson
Image
The very nature of economics is rooted in nationalism. ... It [was] developed ... in the hope of throwing light upon questions of policy. But policy means nothing unless there is an authority to carry it out, and authorities are national.
Joan Robinson
Image
I came away from the talk with the perception that the risk of adverse side effects is so much greater than the risk of cervical cancer, I couldn’t help but question why we need the vaccine at all.
Joan Robinson
Image
Unemployment is a reproach to a democratic government.
Joan Robinson
Image
Ideology is like breath: you never smell your own.
Joan Robinson
Image
If a rise in wages does not raise prices, a fall will not reduce them.
Joan Robinson
Image
Even if the crises that are looming up are overcome and a new run of prosperity lies ahead, deeper problems will still remain. Modern capitalism has no purpose except to keep the show going.
Joan Robinson
Image
The orthodox doctrines of economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.
Joan Robinson
Image
It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.
Joan Robinson
Image
It's a terrible thing to be a worker exploited in the capitalist system. The only worse thing is to be a worker unable to find anyone to exploit you.
Joan Robinson