Paul Ormerod Quotes

Enjoy the top 19 famous quotes, sayings and quotations by Paul Ormerod.

Paul Ormerod Quotes

Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.
— Paul Ormerod —

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.

— Paul Ormerod

Baseball players or cricketers do not need to be able to solve explicitly the non-linear differential equations which govern the flight of the ball. They just catch it.

— Paul Ormerod

By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.

— Paul Ormerod

Even in financial markets, the concept of market efficiency does not hold.

— Paul Ormerod

The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

— Paul Ormerod

At 2 per cent growth a year, an economy doubles in size in just thirty years.

— Paul Ormerod

The second part of the New Right's policy package has been the belief that free-market solutions are always best. It is this latter view which is profoundly mistaken. Markets and profits are crucial, but the pure free-market model itself is deeply flawed.

— Paul Ormerod

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