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Alexander C. Cartwright, Ph.D

Associate Professor of Economics 

College of Business 

Ferris State University 






Life At The Margin


Why Did I Learn That?

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"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."


Friedrich August von Hayek


"The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas."


John Maynard Keynes

"But nobody can be a great economist who is only an economist - and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger."


Friedrich August von Hayek

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