<blockquote>'
The French statesman Leon Blum rightly said in his essay "For All Mankind", "When a man gets perplexed and discouraged, he has just to think about Humanity". '
- David Gosset,
The great invisible wall in China, Jul 14, 2009</blockquote>
<blockquote>'
If this antagonism between the logical and the mathematical economists were merely a disagreement concerning the most adequate procedure to be applied in the study of economics, it would be superfluous to pay attention to it. The better method would prove its preeminence by bringing about better results. It may also be that different varieties of procedure are necessary for the solution of different problems and that for some of them one method is more useful than the other.
However, this is not a dispute about heuristic questions, but a controversy concerning the foundations of economics. The mathematical method must be rejected not only on account of its barrenness. It is an entirely vicious method, starting from false assumptions and leading to fallacious inferences. Its syllogisms are not only sterile; they divert the mind from the study of the real problems and distort the relations between the various phenomena.'
- Ludwig von Mises,
Mathematics Versus Economic Logic</blockquote>
<blockquote>'
...an august group of Keynesians that includes Krugman himself. It is they who have ridden the infallibility complex that has failed to make the most important observations about the US economy:
1. Leverage needs to shrink across the economy, not merely get shifted around between the hands of private individuals and the US government;
2. When consumption is almost three-quarters of any economy, you cannot cut leverage without hurting consumption. So live with it;
3. For the economy to generate profits, it probably needs to become smaller, a lot smaller.'
- Chan Akya,
Krugman best taken in reverse, Jul 14, 2009</blocqkuote>