Gunnar Myrdal - Time Quotes

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The further away a scholarly opinion is from direct observation and the more abstract and 'theoretical' it is, the more defenseless it becomes against insidious opportunist errors of judgment. In economics, model thinking in particular creates scope for systematic biases... But of course all social studies must nevertheless aim at generalization. It is thus important to be able to think concretely at the same time, as I learnt from Gustav Cassel.

Gunnar Myrdal

In this sense the Negro problem is not only America's greatest failure but also America's incomparably great opportunity for the future. If America should follow its own deepest convictions, its well-being at home would be increased directly. At the same time America's prestige and power abroad would rise immensely.

Gunnar Myrdal

Some of these quantities refer directly to a point of time. That is true of "capital value" as also of such quantities as demand and supply prices. Other terms – as e. g. "income", "revenue", "return", "expenses", "savings", "investments" – imply, however, a time period for which they are reckoned. But in order to be unambiguous they must also refer to a point of time at which they are calculated.

Gunnar Myrdal