"Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible." (Paul Ormerod, "The Death of Economics", 1994)
"The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level." (Paul Ormerod, "The Death of Economics", 1994)
"The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies." (Paul Ormerod, "The Death of Economics", 1994)
"The model of competitive equilibrium which has been
discussed so far is set in a timeless environment. People and companies all
operate in a world in which there is no future and hence no uncertainty."
"The temptation to use mathematics is irresistible for economists. It appears to convey the appropriate air of scientific authority and precision to economists' musings." (Paul Ormerod, "The Death of Economics", 1994)
"We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism." (Paul Ormerod, "The Death of Economics", 1994)
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