Not only subjective poverty is never overcome by growth, but absolute poverty is increased by it. ... Absolute misery grows while wealth increases.
Joan Robinsonscience progresses by trial and error, and when it is forbidden to admit error there can be no progress.
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 Robinson