"If algebraical symbols lead to more accurate results, no one can rightly object to their use. In this case they lend an appearance of definiteness to conclusions whose accuracy is conditioned by the assumptions from which they proceed; assumptions which are often themselves "unverified probabilities," while the very exactness of the equation form is a temptation to choose assumptions that are far removed from life but will fit the Procrustean formula." -- John Maurice Clark, 1913
Pages
- Jobs, Liberty and the Bottom Line
- Time on the Ledger: Social Accounting for the “Goo...
- Intermediate Goods and Duplication
- The Long Term Problem of Full Employment
- The Source and Remedy of the National Difficulties...
- Grundrisse: "Capital (like property) rests on prod...
- Economic and Philosophical Manuscripts of 1844: "W...
- McCulloch on Combination Laws
- Submission to the White House Task Force on Middle...
- Thinking Along the Right Lines
- The Problem with "The Problem of Social Cost"
- State and Prospects of Manufactures
Sunday, November 6, 2011
"Whilst the engine runs the people must work...
...men, women and children yoked together with iron and steam. The animal machine - breakable in the best case is chained fast to the iron machine, which knows no suffering and no weariness." -- mistakenly attributed to James Phillip Kay
Subscribe to:
Post Comments (Atom)
Shorter Clark: "Garbage in; garbage out."
ReplyDeleteCheers!
JzB the procrustean trombonist