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""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
“Executives of necessity live and work within an organization. Unless they make conscious efforts to perceive the outside, the inside may blind them to the true reality.”
― The Essential Drucker
― The Essential Drucker
“Management by drive, like management by ‘bellows and meat ax,’ is a sure sign of confusion. It is an admission of incompetence. It is a sign that management does not know how to plan. But, above all, it is a sign that the company does not know what to expect of its managers – that, not knowing how to direct them, it misdirects them.”
― The Essential Drucker
― The Essential Drucker
“Today it is generally accepted that much of what passes as Keynesian thought is not so much the work of Keynes himself as that of his popularizers. Other economists tend to see their own reflection in the works of Keynes. The General Theory of Employment, Interest, and Money (London,1936) has become a Procrustean bed whereby authors trim or stretch Keynes to suit their own purposes.”
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“...whatever their intentions, the topic addressed by Arrow and Debreu was the coherence of economic theory, not the coordination of economic activities.”
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“What does not yet exist cannot now be known. The future is imagined by each man for himself and this process of the imagination is a vital part of the process of decision. But it does not make the future known. The absolute and eternal difference between the recorded past and the unformed future, despite its overwhelming significance for the very stuff of human existence, has been often overlooked in our economic theories.”
― Epistemics and Economics: A Critique of Economic Doctrines
― Epistemics and Economics: A Critique of Economic Doctrines
Michael’s 2025 Year in Books
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