economics limps along with one foot in untested hypotheses and the other in untestable slogans.
Joan RobinsonI do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had already found out how to cure unemployment before Keynes had finished explaining why it occured.
Joan RobinsonIf there is any law governing the distribution of income between classes, it still remains to be discovered.
Joan RobinsonAn economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.
Joan RobinsonIn general, the nightmare quality of Marx's thought gives it, in this bedevilled age, an air of greater reality than the gentle complacency of the orthodox academics. Yet he, at the same time, is more encouraging than they, for he releases hope as well as terror from Pandora's box, while they preach only the gloomy doctrine that all is for the best in the best of all possible worlds.
Joan Robinson