University Of Cambridge Alumni

"Some confidence there must be between merchant and manufacturer. In matters exclusively within the province of the manufacturer the merchant relies on the manufacturer's skill, and he does so all the more readily when he has had the benefit of that skill before."

"That was putting the case in a nutshell. But it is one thing to put a case like Shelley's in a nutshell and another thing to keep it there."

"It is a public scandal when the law is forced to uphold a dishonest act."

"You may not sell the cow and sup the milk."

"To protect those who are not able to protect themselves is a duty which every one owes to society."

"People cannot escape from the obligation of a statute by putting a private interpretation upon its language."

"It is for the legislature to alter the law if Parliament in its wisdom thinks an alteration desirable."

"It is not the function of a Court of justice to enforce or give effect to moral obligations which do not carry with them legal or equitable rights."

"Like the ski resort full of girls hunting for husbands and husbands hunting for girls the situation is not as symmetrical as it might seem."

"There is another point... and that is the method of demonstration by geometrical figures. In the first solution of Isoperimetrical problems, the Bernoullis use diagrams and their properties. Euler, in his early essays, does the same; then, as he improves the calculus he gets rid of constructions. In his Treatise [footnote: Methodus inveniendi, &c.], he introduces geometrical figures, but almost entirely, for the purpose of illustration: and finally, in the tenth volume of the Novi Comm. Petrop. as Lagrange had done in the Miscellanea Taurinensea, he expounds the calculus, in its most refined state, entirely without the aid of diagrams and their properties. A similar history will belong to every other method of calculation, that has been advanced to any degree of perfection."

"On a novel plan, I have combined the historical progress with the scientific developement of the subject; and endeavoured to lay down and inculcate the principles of the Calculus, whilst I traced its gradual and successive improvements. ...there is little doubt, the student's curiosity and attention will be more excited and sustained, when he finds history blended with science, and the demonstration of formulae accompanied with the object and the causes of their invention, than by a mere analytical exposition of the principles of the subject. He will have an opportunity of observing how a calculus, from simple beginnings, by easy steps, and seemingly the slightest improvements, is advanced to perfection; his curiosity too, may be stimulated to an examination of the works of the contemporaries of Newton; works once read and celebrated: yet the writings of the Bernoullis are not antiquated from loss of beauty, nor deserve neglect..."

"In 1810 a work was published in Cambridge under the following title—A Treatise on Isoperimetrical Problems and the Calculus of Variations. By Robert Woodhouse... This work details the history of the Calculus of Variations from its origin until the close of the eighteenth century, and has obtained a high reputation for accuracy and clearness. During the present century some of the most eminent mathematicians have endeavored to enlarge the boundaries of the subject, and it seemed probable that a survey of what had been accomplished would not be destitute of interest and value. Accordingly the present work has been undertaken... As the early history of the Calculus of Variations had been already so ably written, it was unnecessary to go over it again; but it seemed convenient to commence with a short account of the two works of Lagrange and a work of Lacroix..."

"Taylor's method... has no recommendation from its neatness and perspicuity, but is justly censured by John Bernoulli for its obscure conciseness."

"The methods of the Bernoullis and of Taylor, were held, at the time of their invention, to be most complete and exact. Several imperfections, however, belong to them. They do not apply to problems involving three or more properties; nor do they extend to cases involving differentials of a higher order than the first: for instance, they will not solve the problem, in which a curve is required, that with its radius of curvature and evolute shall contain the least area. Secondly, they do not extend to cases, in which the analytical expression contains, besides x, y, and their differentials, integral expressions; for instance, they will not solve the second case proposed in James Bernoulli's Programma if the Isoperimetrical condition be excluded; for then the arc s, an integral, since it =\int \!dx \sqrt(1+\frac{dy^2}{dx^2}), is not given. Thirdly, they do not extend to cases, in which the differential function, expressing the maximum should depend on a quantity, not given except under the form of a differential equation, and that not integrable; for instance, they will not solve the case of the curve of the quickest descent, in a resisting medium, the descending body being solicited by any forces whatever."

"To history we shall adhere no farther, than is sufficient to preserve an unbroken series of methods gradually becoming more exact and extensive; the series beginning with the first rude, though perfectly just, method of James Bernoulli, and ending with Lagrange's exquisite and refined Calculus of Variations."

"Although I am not aware of having omitted any thing that is requisite to the full explanation of the subject, yet I cannot flatter myself that it will be thoroughly understood from this Work alone. For, in general it may be laid down as true, that no doctrine, of novelty and intricacy, can be completely taught by a single Treatise. It seems to be indispensably necessary for the student, that the subject should be put under several points of view: that if not apprehended under one, it may be under another."

"The Authors who write near the beginnings of science, are, in general the most instructive: they take the reader more along with them, shew him the real difficulties, and, which is a main point, teach him the subject, the way by which they themselves learned it."

"Personal injury is a more serious matter than damage to property."

"I will not say that a witness shall not be asked to what may tend to disparage him: that would prevent an investigation into the character of the witness, which may often be of importance to ascertain. I think those questions only should not be allowed to be asked which have a direct and immediate effect to disgrace or disparage the witness."

"It is true that Courts of equity, in administering justice, sometimes go further than the Courts of law."

"The act of a single Judge, unless adopted by the Court to which he belongs, is of no validity. As the Courts do not sit in vacation, many things are done by the Judges individually; but their acts, when recognised, become the acts of the Court."

"When Courts adopt a fiction they must necessarily support it."

"In matters where a company is not restrained by Parliament they have a right to make reasonable regulations; but it will always be a question whether their regulations are reasonable or not."

"No man can come into a British Court of justice to seek the assistance of the law who founds his claim upon a contravention of the British laws."

"Inconvenience arising from the operation of an Act of Parliament can be no ground of argument in a Court of law."

"Amendments ought not to be made, except in cases where the alteration is of such a nature as that no one can be misled by it."

"A man might as well play for nothing as work for nothing."

"The impulsive desire to save human life when in peril is one of the most beneficial instincts of humanity, and is nowhere more salutary in its results than in bringing help to those who, exposed to destruction from the fury of winds and waves, would perish if left without assistance."

"Although the decisions of the American Courts are of course not binding on us, yet the sound and enlightened views of American lawyers in the administration and development of the law—a law, except so far as altered by statutory enactment, derived from a common source with our own—entitle their decisions to the utmost respect and confidence on our part."

"In a criminal proceeding the question is not alone whether substantial justice has been done, but whether justice has been done according to law. All proceedings in poenam are, it need scarcely be observed, strictissimi juris; nor should it be forgotten that the formalities of law, though here and there they may lead to the escape of an offender, are intended on the whole to insure the safe administration of justice and the protection of innocence, and must be observed. A party accused has the right to insist on them as matter of right, of which he cannot be deprived against his will; and the Judge must see that they are followed."

"A Judge cannot set himself above the law which he has to administer, or make or mould it to suit the exigencies of a particular occasion."

"Writers on international law . . . cannot make the law … it must have received the assent of the nations who are to be bound by it. This assent may be express … or may be implied from established usage."

"Whatever disadvantages attach to a system of unwritten law, and of these we are fully sensible, it has at least this advantage, that its elasticity enables those who administer it to adapt it to the varying conditions of society, and to the requirements and habits of the age in which we live, so as to avoid the inconsistencies and injustice which arise when the law is no longer in harmony with the wants and usages and interests of the generation to which it is immediately applied."

"I think the old, sound, and honest maxim that "you shall not do evil that good may come," is applicable in law as well as in morals."

"I readily admit that the law which requires presumption or custom to be carried back for a period of nearly 700 years, is a bad and mischievous law, and one which is discreditable to us as a civilised and enlightened people, but such is the law; and while it so continues, I consider myself, in administering it, as bound to administer it as I find it; nor do I feel myself warranted in undermining or frittering it away by subtle fictions or artificial presumptions inconsistent with truth and fact."

"It is true, as Mr. Folkard put to us, as the Judges of old felt, there are instances in which discretionary power might be grievously abused, and was abused in times such as I trust this country will never see again. At the same time, men are open to the infirmities which unfortunately attach to human nature. There may be dishonest and corrupt Judges among us, though I trust to God that will never happen. I agree you are to frame your rules so as to keep the administration of justice as far as you can beyond the possibility of corruption. On the other hand, if a rule is essential for the convenient administration of justice, you must trust to the honesty of those to whom you commit that most important department of the State. You must trust to the means you have of punishing corruption and dishonesty if you find it operating on the minds of those judicial officers."

"We do not desire that the unanimity of a jury should be the result of anything but the unanimity of conviction. It is true that a single juryman, or two or three constituting a small minority, may, if their own convictions are not strong and deeply rooted, think themselves justified in giving way to the majority. If is very true, if jurymen have only doubts or weak convictions, they may yield to the stronger and more determined view of their fellows; but I hold it to be of the essence of a juryman's duty, if he has a firm and deeply rooted conviction, either in the affirmative or the negative of the issue he has to try, not to give up that conviction, although the majority may be against him, from any desire to purchase his freedom from confinement or constraint, or the various other inconveniences to which jurors are subject."

"When a man is asked if he is an esquire, and he answers that he is an esquire, the general understanding is that he is a person of no profession or occupation."

"Imperfect markets are different. (...) Similarly, in Paul Krugman’s neat adaptation, “all perfect markets are perfect in the same way: all imperfect markets imperfect in their own different way.” But truly perfect markets exist only in economists’ models; in the real world, markets are imperfect. But within imperfect markets there is a range from those that work well enough for a laissez-faire approach to be broadly valid to those for which market failure or imperfection is extreme and inherent. The market for restaurants works pretty well. The best way to ensure a range of restaurants that provide us with variety, incentives for good service, and enjoyment of changing ambience and menu is to let entrepreneurship do its business—let thousands of flowers bloom, some to succeed and some to wilt."

"The proposition that markets drive economic efficiency is central to much of economics. Adam Smith illustrated that the “invisible hand” of the market drives efficient allocation of resources in a system of division of labor. Friedrich Hayek illustrated the central importance of the price system as an information processing mechanism more powerful than any centrally planned system could ever be. Kenneth Arrow and Gerard Debreu illustrated that complete and perfect markets deliver a Pareto-efficient equilibrium, in which no one person can be made better off without making someone else worse off. And the development of the efficient- market and rational- expectations hypotheses suggested that financial markets are in fact efficient, and that the conditions required for efficiency and for rational and stable equilibria apply even in contracts between the present and the future, which financial markets provide."

"In sum, therefore, many of the assumptions and analytical frameworks that underpin the instrumental argument for free markets and inequality are either invalid or much weaker than is commonly supposed."

"In the second half of the twentieth century, the idea became increas ingly dominant that attaining a superior growth rate and thus increased prosperity should be the central objective of public policy."

"Some students of philosophy have unreasonably high expectations of the subject. They expect it to provide them with a complete and detailed picture of the human predicament. They think that philosophy will reveal to them the meaning of life, and explain to them every facet of our complex existences. Now, although studying philosophy can illuminate fundamental questions about our lives, it does not provide anything like a complete picture, if indeed there could be such a thing. Studying philosophy isn’t an alternative to studying art, literature, history, psychology, anthropology, sociology, politics, and science."

"It is true that many of the problems with which professional philosophers deal do require quite a high level of abstract thought. However, the same is true of almost any intellectual pursuit: philosophy is no different in this respect from physics, literary criticism, computer programming, geology, mathematics, or history."

"A further justification for the study of philosophy is that for many people it can be a very pleasurable activity. There is something to be said for this defence of philosophy. Its danger is that it could be taken to be reducing philosophical activity to the equivalent of solving crossword puzzles."

"Another reason for studying philosophy is that it provides a good way of learning to think more clearly about a wide range of issues."

"Economic history matters. Students of economics should read Charles MacKay and Charles Kindleberger, and should study the history of the Wall Street Crash as well as the theory and the mathematics required to formalize it."

"Economists should study financial markets as they actually operate, not as they assume them to operate—observing the way in which information is actually processed, observing the serial correlations, bonanzas, and sudden stops, not assuming these away as noise around the edges of efficient and rational markets."

"In rich economies, stability matters a lot; small further increases in allocative efficiency matter less. Thus, policy should be heavily focused on ensuring macroeconomic and financial stability and very wary of financial innovation if it carries with it any risk of increased instability."

"What is philosophy? This is a notoriously difficult question. One of the easiest ways of answering it is to say that philosophy is what philosophers do, and then point to the writings of Plato, Aristotle, Descartes, Hume, Kant, Russell, Wittgenstein, Sartre, and other famous philosophers. However, this answer is unlikely to be of much use to you if you are just beginning the subject, as you probably won’t have read anything by these writers."