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

The financial crisis of 2008 illustrated... how markets often go haywire, yet textbooks remain unchanged, failing to convey the fundamental flaws and systematic weaknesses of the free-market system.

Foundations of Real-World Economics (2019)

[F]ree markets, being a human invention, often become dysfunctional; they do not deserve our blind faith.

Foundations of Real-World Economics (2019)

[T]he economy should minimize suffering, while enhancing human dignity and self-worth.

Foundations of Real-World Economics (2019)

[The need for [j]ustice [and morality] is innate in human beings, and mainstream economics neglects [ethics,] justice [and morality].

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

There must be something wrong with an economics that fosters a system that leaves so many... stranded that they strike back at the establishment by voting for a leader such as Donald Trump.

Foundations of Real-World Economics (2019)

The Gallup poll says that half of the population is doing well, 52%... thriving, but the rest are either struggling or suffering... 44% struggling means that they have a very difficult time meeting their obligations. That's not a good economy.

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

Although scientists have been interested in the study of human height from a medical, biological, or anthropological point of view for centuries, economic historians became aware of the implications of quantifying nutritional status only recently.

On the Significance of Anthropometric History (1994)

[A] more unequal distribution in income will have a negative effect on the mean height of a population.

On the Significance of Anthropometric History (1994)

Pain... plays a major role in my thinking. I advocate its minimization.

Foundations of Real-World Economics (2019)

[T]here are better ways to measure progress than in terms of money.

Foundations of Real-World Economics (2019)

My focus is on real human beings... rather than inanimate objects... as money or abstract concepts... which economists often substitute for the human dimension.

Foundations of Real-World Economics (2019)

Reagan lowered the taxes on the top bracket and that made the [top] 1%... super rich.

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

So adult economics, forget it!

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

[M]ainstream economics is fundamentally flawed [and] ignores the elephant in the room, which is the real existing economy.

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

[J]ustice is as important as efficiency.

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

Greenspan and Benjamin Bernanke... ignored the evidence because they were blinded by their ideology and the infallibility of the markets. They were prisoners of their own ideology.

Foundations of Real-World Economics (2019)

Power is the ability to control the action or thought of others. ...The oligarchs use their power also to control the thinking. They invested heavily... to control the thinking of the population.

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

I consider my views to be progressive, democratic, and humanitarian. ...[W]e could restructure the economy ...to improve our lives by focusing on increasing our life satisfaction instead of on income growth.

Foundations of Real-World Economics (2019)

[H]ousing prices had doubled by 2005 in 10 years time, which would have made sense if incomes had also increased substantially, but they didn't.

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

Status seeking is important. Relative incomes matter... Mainstream... economists said inequality was not a problem, and that's how we got an oligarchy [and populism].

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

Attribution

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