At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses. Joan Robinson More Quotes by Joan Robinson More Quotes From Joan Robinson An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium. Joan Robinson economyviewsmay The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all. Joan Robinson capitalistmisery It is the rate of investment which governs the rate of saving, and not vice versa. Joan Robinson investmentsavingvices New ideas are difficult just because they are new. Repetition has somehow plastered over the gaps and inconsistencies in the old ones, and the new cannot penetrate. Joan Robinson repetitiongapsideas But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour. Joan Robinson influencebehaviourimportant If there is any law governing the distribution of income between classes, it still remains to be discovered. Joan Robinson incomelawclass When I came up to Cambridge (in October 1921) to read economics, I did not have much idea of what it was about. Joan Robinson economicsoctoberideas Rosa Luxemburg maintained that the capitalist system can keep up its rate of investment (and therefore its profits) only so long as it is expanding geographically. Joan Robinson investmentprofitlong It is impossible to add the stock of money to the flow of saving. Joan Robinson savingflowadd It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries. Joan Robinson easierorganizeproducts Capital' is not what capital is called, it is what its name is called. Joan Robinson names In general, the nightmare quality of Marx's thought gives it, in this bedevilled age, an air of greater reality than the gentle complacency of the orthodox academics. Yet he, at the same time, is more encouraging than they, for he releases hope as well as terror from Pandora's box, while they preach only the gloomy doctrine that all is for the best in the best of all possible worlds. Joan Robinson airgivingreality Income from property is not the reward of waiting, it is the reward of employing a good stockbroker. Joan Robinson incomerewardswaiting
