Results for “economics”

The Red Crescent sheik said: 'That would just be giving his life back. We could do that.' A WHO official, told that the same Filipino patient would have died without our exchange, exclaimed, 'He should be dead!'

I think behavioural economics has now become an accepted part of the thinking on markets- it's generally accepted that people's decision making is heavily influenced by emotional state and various other behavioural biases in comparison to previous models that assumed rational decision making in the markets. The markets and individual investors are driven by what you could call 'irrational considerations' and emotions play an important role in that.

Unknown.

Much of the mistreatment of animals is due to economics; it's cheaper to raise animals for food when they're kept in a confined 'economical' way rather than letting them graze in fields. In my view, we should actually only have the free-range farms – meat would then be more expensive and more people would become vegetarian, vegan, and find alternative protein foods so that we don't cause this terrible animal suffering.

British actress known for "Born Free" and animal welfare advocacy

Economics is like artificial intelligence, it's not really there… there's no physical invisible hand…. It's about people interacting with people against a social order, a set of ethics, principles and practices.

Pioneer of Virtual Reality & Critic of Social Media

Economics depicts humanity as a character called rational, economic man. I'd say he has to be a man- he has no dependants. He's a man standing alone with money in his hand, ego in his heart, a calculator in his head and nature at his feet. When we show-up, we're told that we're competitive and self-interested, the traits of the market.

Creator of the Doughnut Economics framework for sustainable development

Whether it's in economics, politics, or wider society, there's a debate about capitalism versus socialism; but I don't really think that's what's happening. If you look at the populist undercurrents around the world- it's really about walls & bridges. When there are big changes in the economy – like globalisation or technological change, the simple thing to tell voters is, 'we'll build a wall to protect you against those changes…' what you really need however, is bridges.

Dean of Columbia Business School & Economic Policy Advisor

The Economics that we operate under is all about the goal of attaining infinite growth, but we know we cannot infinitely grow and live a good life.

With participatory culture, economics dictates that we pour more resources into building an infrastructure platform that anyone can use, so most resources go into empowering 'the long tail'. Small groups of people can come together and make use of a powerful infrastructure to enable them to pursue their own passions and interests, without regard for popularity.

Co-Founder of Wikipedia & Online Encyclopedia Pioneer

With participatory culture, economics dictates that we pour more resources into building an infrastructure platform that anyone can use, so most resources go into empowering 'the long tail'. Small groups of people can come together and make use of a powerful infrastructure to enable them to pursue their own passions and interests, without regard for popularity.

Co-Founder of Wikipedia & Online Encyclopedia Pioneer

I think behavioural economics has now become an accepted part of the thinking on markets- it's generally accepted that people's decision making is heavily influenced by emotional state and various other behavioural biases in comparison to previous models that assumed rational decision making in the markets.

Unknown.

Economics is like artificial intelligence, it's not really there… there's no physical invisible hand…. It's about people interacting with people against a social order, a set of ethics, principles and practices.

Pioneer of Virtual Reality & Critic of Social Media

There is a problem with business leaders and the economics profession where we have celebrated the gains from neoliberal policies whilst only paying lip-service to compensating those left-behind.

Dean of Columbia Business School & Economic Policy Advisor

Abraham Maslow (a famous psychologist) once commented, 'if all you have is a hammer, everything is a nail'. Investors currently have a hammer, and that hammer is economics.

Chief Strategist & Senior Currency Strategist at Bannockburn Global Forex

My big contention is that we've misread Adam Smith. People don't realise that Adam Smith was a moral philosopher before an economics expert. His first book, before he wrote 'The Wealth of Nations' was, 'The Theory on Moral Sentiments'. In that book, you find the answer for what the invisible hand really is! He never accelerated the narrative that there should be completely unfettered free markets. He believed markets took place in the context of a moral framework and foundation.

most of the half-trillion dollars received by Africa since the 1960s has funded military coups and civil wars, not economic development. Between 1982 and 1985, Zimbabwe spent $1.3 out of $1.5 billion of foreign assistance on arms and ammunition.

Economist and author specializing in terrorism financing and shadow economy

what turns a developing into a developed nation is not the amount of foreign aid it attracts, but how the money is spent.

Economist and author specializing in terrorism financing and shadow economy

The representative agent model (and its descendants) imposed a straightjacket that made it difficult to think clearly about what was going on [in the economy]… To me [Stiglitz], the strangest aspect of modern macroeconomics was that the central banks were using a model in which banks and financial markets played no role.

Nobel Prize-Winning Economist & Critic of Globalization

If you're going to be a city of love and compassion, you're going to have to develop economics infrastructure, capital planning and job creation policies, complementing them with education. For those who feel left out, we have to bring them in, and have that conversation with every company, every worker, and fight for them to be part of the more complicated world.

Mayor of San Francisco (2011-2018) & First Asian-American Mayor

As a matter of history it's crucial to distinguish between what I have taken to call 'mercantile capitalism' and what I like to call 'modern capitalism'. Mercantile capitalism I think of as prevailing in Britain, Holland, Spain and elsewhere from around 1500 to 1800 or so.

Nobel Prize Economist; Pioneer of Modern Macroeconomic Theory

We've had hierarchical and bureaucratic structures as far back as we can go in human history. The Chinese civil service goes back to at least 2000BC and militaries have always been structured as hierarchical. Modern bureaucracy is a mash-up of two ideas. Firstly, the command and control structures which have been core to organized human activity for millennia and secondly, the principles of industrial economics.

Management theorist & author who revolutionized strategic thinking

The neo-liberal capitalist mindset has also been a huge contributor to loneliness. Since the 1980s, alongside Margaret Thatcher and Ronald Reagan, a new form of economics came to the fore which enshrined the pursuit of self-interest over the pursuit of collective good. That generated the mindset we see today- me first, dog-eat-dog, greed is good… that inevitably begets a world where people feel less connected to each-other, more atomised, and many ended up feeling marginalised and unseen.

Economist & Author on Globalization, Corporate Power & Digital Society

The genius of the classical economists was to think of economics and politics as the same. Remember, in Smiths' Day, there was no economics faculty, it was political economy. We may need to go back to that.

Dean of Columbia Business School & Economic Policy Advisor

Part of the reason I'm arguing the time is right is because unlike back in the 60s when these ideas about complexity economics were first floated by people like Herbert Simon, we now have all the tools to do it. Computers are a billion times more powerful, the data is vastly better, our understanding of psychology is vastly better, we know a lot more about how to program models like this.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program

The standard models were formulated through a process that started well before computers were in place, and I would say it's undergone a certain lock-in. Once you start going down that path, it's hard to break out of it to another path. As a result, economics is stuck. It's not even that the existing models are wrong, they're just very limited in what they can do, and mainstream economists have gotten very locked in to using those models – and only those models.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program