Joan Robinson - Economists Quotes

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Until recently, Marx used to be treated in academic circles with contemptuous silence, broken only by an occasional mocking footnote. But modern developments in academic theory, forced by modern developments in economic life — the analysis of monopoly and the analysis of unemployment — have shattered the structure of orthodox doctrine and destroyed the complacency with which economists were wont to view the working of laissez-faire capitalism. Their attitude to Marx, as the leading critic of capitalism, is therefore much less cocksure than it used to be. In my belief, they have much to learn from him.

Joan Robinson
The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.

Joan Robinson
It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.

Joan Robinson
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.

Joan Robinson
Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.

Joan Robinson