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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 The Death of Economics (1994)

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More quotes by Paul Ormerod

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

The Death of Economics (1994)

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

The Death of Economics (1994)

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

The Death of Economics (1994)

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

The Death of Economics (1994)

The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.

The Death of Economics (1994)

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