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— Thomas Balogh, Baron Balogh"The purpose of economic theory is to make those who are comfortable FEEL comfortable."
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Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.
— Robert Higgs
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What Smith and Marx have in common is that they were both philosophers of great vision and perceptiveness, deep humanity, and a sense of social reality that has been lost in the abstractly formalistic economic theories that have dominated the field since the last third of the nineteenth century.
— Allen W. Wood
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