Joan Robinson

“That combination, Hayek, Myrdal and Robinson, might have cast the contributions of each into sharper relief: three pioneers who, after important early contributions, gave up economics for political activism.”

“Instead, I would concede her a point of uncertain importance. There isn't really a great deal to economics, considered as a logical structure based upon a few indisputable axioms about the world. … A logician is a wondrous creature, but he cannot distinguish between the two simple errors: if A = B, and B = C, then (1) A = 1.01C, and (2) A = 10⁶⁵C. An economist can.”

“She was taken in a sealed train from coast to coast—from Paul Baran to Paul Sweezy.”

“I must mention my special intellectual debt to Joan Robinson, with whom I had the opportunity to discuss over a period of nearly twenty years some of the problems analysed here. She, more than anybody else, convinced me of the radical content of Keynesian economics which we could decipher more easily with the help of Marx and Kalecki.”

“" the merchant had observed that the marginal utility of daughters decreases with surprising rapidity."”

“The bastard Keynesian doctrine, evolved in the United States, invaded the economic faculties of the world, floating on the wings of the almighty dollar.”

“An agent must have some discretion.”

“To supply goods is a source of profit, but to supply services is a ' burden upon industry '. It is for this reason that when, as a nation, ' we have never had it so good ' we find that we ' cannot afford ' just what we most need.”

“It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next.”

“At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under separate national governments — there is an ever-changing pattern of deficits and surpluses.”

“Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.”

“It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.”

“Why did the hunters in the Wealth of Nations exchange beavers for deer?”

“But the tygers of wrath go the other way. Do not ask me why. It is just a fact I noticed when I was looking through field glasses from a machan.”

“It is high time to abandon the mainstream and take to the turbulent waters of truly dynamic analysis.”

“'Capital' is not what capital is called, it is what its name is called.”

“The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.”

“Michal Kalecki's claim to priority of publication is indisputable.”

“But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour.”

“It is impossible to add the stock of money to the flow of saving.”