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"My research, even before 1972, moved in directions beyond those cited for the Nobel Memorial Prize. Most of it, in one way or another, deals with information as an economic variable, both as to its production and as to its use."
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"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
"You know if the U.S. Government wanted to boost the economy there's a simple solution make Black Friday the refund date for your state and federal taxes."
"Development of states, urbanization, mechanization and industrialisation have all brought phenomenal strides to growth and prosperity of economies and their populace. They have also brought with them the insatiable need for energy resources with the related offspring of instability, conflict, war and corruption."
"Somebody will beat both [contents and price] sooner or later because that is good old Free Enterprise, where the consumer benefits from battles between jolly green giants."
"You cannot bring about prosperity without discouraging thrift."
"The Roaring Twenties were the period of that Great American Prosperity which was built on shaky foundations."
"So far, therefore, as the science of exchange relates to the advantage of one of the exchanging persons only, it is founded on the ignorance or incapacity of the opposite person. . . . It is therefore a science founded on nescience. . . . This science, alone of sciences, must, by all available means, promulgate and prolong its opposite nescience. . . . It is therefore peculiarly and alone science of darkness."
"The corporate killer downsizing is directly responsive to what the mutual funds have wanted."
Explore more quotes by Kenneth Joseph Arrow
"My undergraduate education, at the City College in New York, was made possible only by the existence of that excellent free institution and the financial sacrifices of my parents."
"In 1963 and later papers, I pointed out that the special market characteristics of medical care and medical insurance could be explained by reference to differences in information among the parties involved."
"My assignment was exclusively in the research field, and my first published paper, On the Optimal Use of Winds for Flight Planning, was the outgrowth of that work."
"My research, even before 1972, moved in directions beyond those cited for the Nobel Memorial Prize. Most of it, in one way or another, deals with information as an economic variable, both as to its production and as to its use."
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