Dendi

“Political economists stress the technical economic principles that one must understand in order to assess alternative arrangements for promoting peaceful cooperation and productive specialization among free men. Yet political economists go further and frankly try to bring out into the open the philosophical issues that necessarily underlie all discusions of the appropriate functions of government and all proposed economic policy measures. They examine philosophical values for consistency among themselves and with the ideal of human freedom.”
― James M. Buchanan

“The elementary and basic approach that I suggest places “the theory of markets” and not the “theory of resource allocation” at center stage. My plea is really for the adoption of a sophisticated “catallactics,”…”
― James M. Buchanan

“The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.”
― Satyajit Das, Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives

“Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.”
― Albert Einstein