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John Komlos Quotes

born 1944 United States

John Komlos (born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at LMU Munich.

United States
Economists
Historians
Non-fiction authors

Random John Komlos quote

41 quotes

It is important that the research continue, inasmuch as it promises to illuminate a large number of problems.

On the Significance of Anthropometric History (1994)

Less anxiety, less insecurity and less crime. That's Capitalism with a human face, and you can read more about it in my textbook...

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

The economic playing field is not level.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Rapid economic growth brought about stress on the human organism, even though by conventional measures the standard of living was increasing.

On the Significance of Anthropometric History (1994)

With [incomplete or] assymetric information [and that's practically always the case]... Stiglitz and Greenwald proved... markets are inefficient, and that should be the default model.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Usually the relationship between the true unemployment rate and the official unemployment rate is 2:1.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

I hope the present volume can... improve the teaching of economics by presenting a real-world perspective as opposed to the fantasy world of mainstream textbooks.

Foundations of Real-World Economics (2019)

Future generations cannot influence our decisions today unless we approach the problem from a moral perspective.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Most of the models pertain to perfect competition. Forget about it! The default model should be oligopoly or monopoly.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Today 21% of [total] annual income goes to 1% of households. ...That cannot be the basis of a good democracy.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

One need not be a native utopian to be appalled by a society... [of] gross inequality...

Foundations of Real-World Economics (2019)

We're not Robinson Crusoes. We live in a society and we're influenced by social forces, social processes, and that's not included in the DSGE models.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Path dependence means that many processes are non-reversible... Poor people who go to poor schools... can't get into college and their whole life course is messed up...

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

Taxes are not all bad. ...[T]axes are used for infrastructure investments, for schooling, for basic research, and to bail out markets when they go haywire.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

The ideological commitment to "market fundamentalism," ...has brought us to our current, precarious situation.

Foundations of Real-World Economics (2019)

If one does not subject... ideology to empirical evidence... ideology becomes dogma.

Foundations of Real-World Economics (2019)

Economists disregard the... crucial result that people can be conditioned and... corporations can take advantage of that.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

I am advocating... a new paradigm of humanistic Rawlsian economics which puts human beings at the center... and not income, not growth, not GNP...

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

The new normal is what I call Bailout capitalism because Ben Bernanke put a lot of money [creation of $trillions by the Federal Reserve] into the financial sector.

A Progressive View on the Need for a Paradigm Shift in Economics (2020)

The growth-at-any-price perspective does not consider... distribution: economic growth will not help the destitute, the uneducated underclass, or the majority of those... unemployed.

Foundations of Real-World Economics (2019)

Attribution

Quotes and notes from Wikiquote: John Komlos (page history), available under CC BY-SA 4.0.