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There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising to dominance just to be deposed in a crisis by another school. According to this view, paraphrasing Marx, all history of economics is a history of school struggles, punctuated by revolutions.

— Jürg Niehans

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More quotes by Jürg Niehans

Economics should be under no illusion that central banking will ever become a science.

If one could be perfectly certain that everybody always stays within his budget constraint, everybody could be allowed to obtain goods without a specific quid pro quo.

Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account.

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Quote text and notes from Wikiquote: Jürg Niehans (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.