„Keynes did not challenge the efficacy of price adjustment mechanisms in clearing particular markets in the Marshallian partial equilibrium theory on which he had been reared. He did challenge the mindless application of those mechanisms to economy-wide markets. Founding what came to be known as macroeconomics, he was modeling a whole economy as a closed system. He knew he could not use the Marshallian assumption that the clearing of one market could be safely described on the assumption that the rest of the economy was unaffected.“

"Price Flexibility and Output Stability: An Old Keynesian View" (1993)

Übernommen aus Wikiquote. Letzte Aktualisierung 3. Juni 2021. Geschichte
James Tobin Foto
James Tobin
US-amerikanischer Wirtschaftswissenschaftler 1918 - 2002

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Karl Polanyi Foto

„Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.“

—  Karl Polanyi, buch The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

Daniel Bell Foto

„It is important to realize that the market economy, though it is associated historically with the rise of modern private capitalism, is as a mechanism not necessarily limited to that system.“

—  Daniel Bell, buch The Cultural Contradictions of Capitalism

Quelle: The Cultural Contradictions of Capitalism (1976), Chapter 6, The Public Household, p. 223

Vernon L. Smith Foto
Kai Ryssdal Foto

„The stock market is not the economy, and the economy is not the stock market.“

—  Kai Ryssdal Radio host, United States Navy officer 1963

repeatedly on his radio program " Marketplace APM https://www.marketplace.org/2019/09/30/the-stock-market-is-not-the-economy/" (September 2019)

Mariano Rajoy Foto

„Some aspects of the Spanish economy are going well, […] but it is not because you govern […] What has been your main virtue as a ruler? Not ruining the economy, and therefore I applaud. He could have razed everything he found, […] but no, he had the right to leave the economy as it was before.“

—  Mariano Rajoy Spanish politician 1955

3 July, 2007
As Opposition Leader, 2007
Quelle: Diario de Sesiones del Congreso http://www.congreso.es/portal/page/portal/Congreso/PopUpCGI?CMD=VERDOC&CONF=BRSPUB.cnf&BASE=PUW8&PIECE=PUW8&DOCS=1-1&FMT=PUWTXDTS.fmt&OPDEF=Y&QUERY=%40FECH%26gt%3B%3D20070703+%26+%40FECH%26lt%3B%3D20070704+Y+CDP200707030269.CODI.#1

W. Brian Arthur Foto

„The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.“

—  Robert Gilpin Political scientist 1930 - 2018

Quelle: The Political Economy of International Relations (1987), Chapter One, Nature of Political Economy, p. 8

Lars Løkke Rasmussen Foto
Ludwig von Mises Foto
Leonid Hurwicz Foto
Peter D. Schiff Foto

„…it is the natural tendency of market economies to lower prices that makes them so successful.“

—  Peter D. Schiff American entrepreneur, economist and author 1963

Quotes from Crash Proof (2006)

Olivier Blanchard Foto
Steve Keen Foto

„The belief that a capitalist economy is inherently stabilising is also one for which inhabitants of market economies may pay dearly in the future.“

—  Steve Keen Australian economist 1953

Quelle: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 9, The Sum Of The Parts, p. 213

Maurice Allais Foto

„In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property.“

—  Maurice Allais French economist; 1988 winner of the Nobel Memorial Prize in Economics 1911 - 2010

[Maurice Allais, La Crise mondiale d’aujourd’hui. Pour de profondes réformes des institutions financières et monétaires, Editions Clément Juglar, Paris, 1999, 74, 2-908735-11-3]

Joseph E. Stiglitz Foto

„1. The standard neoclassical model the formal articulation of Adam Smith's invisible hand, the contention that market economies will ensure economic efficiency provides little guidance for the choice of economic systems, since once information imperfections (and the fact that markets are incomplete) are brought into the analysis, as surely they must be, there is no presumption that markets are efficient.
2. The Lange-Lerner-Taylor theorem, asserting the equivalence of market and market socialist economies, is based on a misguided view of the market, of the central problems of resource allocation, and (not surprisingly, given the first two failures) of how the market addresses those basic problems.
3. The neoclassical paradigm, through its incorrect characterization of the market economies and the central problems of resource allocation, provides a false sense of belief in the ability of market socialism to solve those resource allocation problems. To put it another way, if the neoclassical paradigm had provided a good description of the resource allocation problem and the market mechanism, then market socialism might well have been a success. The very criticisms of market socialism are themselves, to a large extent, criticisms of the neoclassical paradigm.
4. The central economic issues go beyond the traditional three questions posed at the beginning of every introductory text: What is to be produced? How is it to be produced? And for whom is it to be produced? Among the broader set of questions are: How should these resource allocation decisions be made? Who should make these decisions? How can those who are responsible for making these decisions be induced to make the right decisions? How are they to know what and how much information to acquire before making the decisions? How can the separate decisions of the millions of actors decision makers in the economy be coordinated?
5. At the core of the success of market economies are competition, markets, and decentralization. It is possible to have these, and for the government to still play a large role in the economy; indeed it may be necessary for the government to play a large role if competition is to be preserved. There has recently been extensive confusion over to what to attribute the East Asian miracle, the amazingly rapid growth in countries of this region during the past decade or two. Countries like Korea did make use of markets; they were very export oriented. And because markets played such an important role, some observers concluded that their success was convincing evidence of the power of markets alone. Yet in almost every case, government played a major role in these economies. While Wade may have put it too strongly when he entitled his book on the Taiwan success Governing the Market, there is little doubt that government intervened in the economy through the market.
6. At the core of the failure of the socialist experiment is not just the lack of property rights. Equally important were the problems arising from lack of incentives and competition, not only in the sphere of economics but also in politics. Even more important perhaps were problems of information. Hayek was right, of course, in emphasizing that the information problems facing a central planner were overwhelming. I am not sure that Hayek fully appreciated the range of information problems. If they were limited to the kinds of information problems that are at the center of the Arrow-Debreu model consumers conveying their preferences to firms, and scarcity values being communicated both to firms and consumers then market socialism would have worked. Lange would have been correct that by using prices, the socialist economy could "solve" the information problem just as well as the market could. But problems of information are broader.“

—  Joseph E. Stiglitz, buch Whither Socialism?

Quelle: Whither Socialism? (1994), Ch. 1 : The Theory of Socialism and the Power of Economic Ideas

Kim Dae-jung Foto

„I believe democracy is the foundation of a healthy economy. Without genuine democracy you cannot have a genuine market economy. And, under the market economy, one must fully open doors to allow free trade and investment.“

—  Kim Dae-jung South Korean politician 1924 - 2009

"Interview: President Kim Dae Jung" in TIME Asia http://www.cnn.com/ASIANOW/time/magazine/99/0913/interview.html (13 September 1999)

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