The most glaring deficiency in traditional economic models is that they completely ignore the role of context in evaluation.
It doesn't have the ability to think rationally this economic model. It thinks like a drug addict: 'Where can I get my next fix?' It doesn't learn wisely. Any kind of measure of natural wisdom would be: you make a mistake, you correct it the next time around. But a drug addict feels terrible. . . and then says: 'I want more'. Unfortunately we have an economic model that thinks like a crack addict.
People will continue to make movies. But I do think the economic model of the studio movie is closing in on a kind of systemic collapse.
Chile has done a lot to rid itself of poverty, especially extreme poverty, since the return to democracy. But we still have a ways to go toward greater equity. This country does not have a neoliberal economic model anymore. We have put in place a lot of policies that will ensure that economic growth goes hand in hand with social justice.
If the search is for examples that contradict the predictions of standard economic models, a good rule of thumb is to start in France.
Nothing in these abstract economic models actually works in the real world. It doesn't matter how many footnotes they put in, or how many ways they tinker around the edges. The whole enterprise is totally rotten at the core: it has no relation to reality.
Our economy is at war with many forms of life on earth, including human life. What the climate needs to avoid collapse is a contraction of humanity's use of resources; what our economic model demands to avoid collapse is unfettered expansion. Only one of these sets of rules can be changed, and it's not the laws of nature
The reality is sometimes markets don't exist for very good reasons. It might be that there isn't a deep customer need. Or the economic model is just hard to pull off. Or maybe there is a regulatory barrier.
Economic theorists, like French chefs in regard to food, have developed stylized models whose ingredients are limited by some unwritten rules. Just as traditional French cooking does not use seaweed or raw fish, so neoclassical models do not make assumptions derived from psychology, anthropology, or sociology. I disagree with any rules that limit the nature of the ingredients in economic models.
I think ultimately Obama's ability to rebuild America's image in the world will depend less on his personal good will and more his ability to rebuild an American economic model that seems stable and humane and dynamic.
I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.
The corporatist-economic model of society appears to be governing us. Economists, often in the pay of transnationals, are deciding, for us, what democracy is, and will be.
Copies have been dethroned; the economic model built on them is collapsing. In a regime of superabundant free copies, copies are no longer the basis of wealth. Now relationships, links, connections, and sharing are. Value has shifted away from a copy toward the many ways to recall, annotate, personalize, edit, authenticate, display, mark, transfer, and engage a work. Art is a conversation, not a patent office. The citation of sources belongs to the realms of journalism and scholarship, not art. Reality can’t be copyrighted.
The United States is such a potent political, cultural, and economic model in the evocation of the contemporary world, that to come here, select some elements from the prototype and rearrange them, that's really interesting artistically.
I have a lot of trouble understanding all the detail of finance and administration - but if you combine intellectual and professional capacity with a social conscience, you can change things: countries, structures, economic models, colonial states.
The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.
Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than what we have now.
No one can solve an issue where there is no economic model yet.
Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with everyday observation.
The fight against capitalism has many aspects, particularly the distinctive economic models that concentrate the capital in few hands.
