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 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 economy views may The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all. Joan Robinson capitalist misery It is the rate of investment which governs the rate of saving, and not vice versa. Joan Robinson investment saving vices 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 repetition gaps ideas But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour. Joan Robinson influence behaviour important If there is any law governing the distribution of income between classes, it still remains to be discovered. Joan Robinson income law class 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 economics october ideas 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 investment profit long It is impossible to add the stock of money to the flow of saving. Joan Robinson saving flow add 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 easier organize products 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 air giving reality Income from property is not the reward of waiting, it is the reward of employing a good stockbroker. Joan Robinson income rewards waiting
