Educators From The United States

"Colander: What’s your view of the New Keynesian approach? Tobin: I’m not sure what that means. If it means people like Greg Mankiw, I don’t regard them as Keynesians. I don’t think they have involuntary unemployment or absence of market clearing. It is a misnomer to call Mankiw any form of Keynesian. Colander: How about real-business-cycle theorists? Tobin: Well, that’s just the enemy."

"Market power and externalities are examples of a general phenomenon called market failure—the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important."

"A market is a group of buyers and sellers of a particular good or service. The buyers as a group determine the demand for the product, and the sellers as a group determine the supply of the product. Markets take many forms. Some markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales. More often, markets are less organized."

"Economics is a young science, and there is still much to be learned. Economists sometimes disagree because they have different hunches about the validity of alternative theories or about the size of important parameters that measure how economic variables are related."

"Microeconomics and macroeconomics are closely intertwined. Because changes in the overall economy arise from the decisions of millions of individuals, it is impossible to understand macroeconomic developments without considering the associated microeconomic decisions."

"If you were going to turn to only one economist to understand the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his diagnosis of recessions and depressions remains the foundation of modern macroeconomics. His insights go a long way toward explaining the challenges we now confront."

"Which brings us to a third group of macroeconomists: those who fall into neither the pro- nor the anti-Keynes camp. I count myself among the ambivalent. We credit both sides with making legitimate points, yet we watch with incredulity as the combatants take their enthusiasm or detestation too far. Keynes was a creative thinker and keen observer of economic events, but he left us with more hard questions than compelling answers."

"Despite its flaws, Peddling Prosperity has much to recommend it. There is no book written for a lay audience that explains the economics profession with more perception or clarity than this one."

"It is too early to say there is a consensus about how all these topics fit together. Yet one can say that the new classical challenge has been met: Keynesian economics has been reincarnated into a body with firm microeconomic muscle."

"Today, Keynesian theorizing does not inspire whispers and giggles from the audience. There are many economists under the age of forty who do not take offense when their work is called ‘Keynesian’, and I count myself as one of them. If Keynesian economics was dead in 1980, then today it has been reincarnated."

"A few years ago, I had the good fortune of running across a first edition of Paul's textbook (not the recent reprint of the original text, but an actual 1948 edition). It was a real find. I bought the volume in an online auction for, if my recollection is correct, $35. Talk about consumer surplus! I would have gladly paid many times that. At the next Boston Fed meeting, I took the book along to get Paul to sign it. Below is the book's title page, along with Paul's gracious inscription."

"[Allen Rosenstein was a principal investigator with a Reports Group from the School of Engineering and Applied Science at the University of California, Los Angeles.] A first step in the UCLA project was to determine how designs are actually carried out. The group under Allen Rosenstein, was charged with investigating design. They interviewed some forty designers; people from all kinds of industries, petroleum, aeronautical, construction, electronics, etc. It was found that individuals who did design tended to follow a certain pattern, but they did not do it consciously."

"The pressure to generate the ideas and methods attributed to Systems Engineering stems directly from the needs of 20th century society. As our frontiers have disappeared, man has turned to technology to furnish the "good life" in a rapidly shrinking, crowded world. Our interdependence upon one another has increased in direct proportion to the population increase. The race to maintain or improve the operating efficiency of society has required that the systems and mechanisms that serve the society also become increasingly complex and interdependent. Goode and Machal have provided statistics to illustrate the above. They note that the world population increased from 800 million in 1750, to 1200 million in 1850, and 2400 million in 1950. Maximum transportation speeds went from 40 mph in 1850, and 100 mph in 1900, to commercial transport speed of 350 mph in 1950 and supersonic transport planes of over 1200 mph in the 1960's. Our communication systems are a good indication of increasing complexity. U.S. telephones jumped from 350,000 in 1900, to 55 million in 1955."

"Within the past ten years there have appeared with increasing frequency books, articles, conferences, and monograms dealing with system engineering, system analysis, system design, the systems approach, the design of systems, system theory, and problems of systems engineering. The number of publications and the stature of their authors does not allow the dismissal of the subject as a passing fad. The breadth of engineering activity involved in even a cursory examination of recent publications is of interest... It is therefore obvious that whatever Systems Engineering may or may not be, it is non-sectarian and encompasses activities that are of concern in all phases of engineering. On the other hand undergraduate college offerings akin to Systems Engineering are rather limited and even graduate programs are not extensive."

"For generation accustomed to thinking of the United States as the world's leading industrial power, something was lost when the U.S, became the world's largest debtor."

"In a city where buzzwords and catch phrases have a half-life of perhaps six months to a year, the term and the concept of "competitiveness" have lasted much longer; there is every sign we'll hear it for many years to come."

"Like concepts such as national energy policy or war on drugs, competitiveness covers a lot of territory"

"While Peggy and I lived in Los Angeles, we made some interesting friends [after 1944]... There was also Allen Rosenstein, a young professor of electrical engineering from UCLA who belonged to a group associated with the American Friends of the Hebrew University of Jerusalem.... My association with Allen Rosenstein, professor of electrical engineering at UCLA and president of Pioneer Magnetics, led me in 1985 to a USAID project in the Caribbean and to a two-and-a-half-year consulting role with Coopers & Lybrand as a part of President Reagan's Caribbean initiative."

"The concept of teleological mechanisms, however it be expressed in many terms, may be viewed as an attempt to escape from these older mechanistic formulations that now appear inadequate, and to provide new and more fruitful conceptions and more effective methodologies for studying self-regulating processes, self-orienting systems and organisms, and self-directing personalities. Thus, the terms feedback, servomechanisms, circular systems, and circular processes may be viewed as different but equivalent expressions of much the same basic conception"

"The concepts of purposive behavior and teleology have long been associated with a mysterious, self-perfecting or goal-seeking capacity or final cause, usually of superhuman or super-natural origin. To move forward to the study of events, scientific thinking had to reject these beliefs in purpose and these concepts of teleological operations for a strictly mechanistic and deterministic view of nature. This mechanistic conception became firmly established with the demonstration that the universe was based on the operation of anonymous particles moving at random, in a disorderly fashion, giving rise, by their multiplicity, to order and regularity of a statistical nature, as in classical physics and gas laws. The unchallenged success of these concepts and methods in physics and astronomy, and later in chemistry, gave biology and physiology their major orientation. This approach to problems of organisms was reinforced by the analytical preoccupation of the Western European culture and languages. The basic assumptions of our traditions and the persistent implications of the language we use almost compel us to approach everything we study as composed of separate, discrete parts or factors which we must try to isolate and identify as potential causes. Hence, we derive our preoccupation with the study of the relation of two variables. We are witnessing today a search for new approaches, for new and more comprehensive concepts and for methods capable of dealing with the large wholes of organisms and personalities."

"Past and future are but two aspects of behavior, the past being the persistent modifications in the behaving organism, and the future the controlling direction or pattern imposed upon the unfolding behavior according to those persistent modifications."

"With the death of Lawrence K. Frank on September 23, 1968, one of the founders and major catalysts of the child development movement was lost to the field."

"Frank was one of the two or three men who used foundations the way the Lord meant them to be used."

"While he served as a foundation officer, he fostered studies of child growth and development, adolescents, family living, and aging; parent education programs; and nursery schools. He was long active in the field of mental health, stressing what is now called "Primary Prevention, "and emphasizing the importance of mental health programs in schools and colleges."

"We exist in the geographical environment, moving about in space-time, as we carry on our continual intercourse with nature, through breathing, drinking, eating, absorbing light, heat and other forms of radiant energy, eliminating through breathing, urination and defecation, through the skin and by radiation of heat, as the geographical environment flows in and out of us, as it does in all other organisms."

"[I call for] imagination and courage in the endless endeavor to make human life more meaningful and significant, more nearly expressive of the values we cherish... A national policy for the family will earn affirmation and as such should give re-direction to what we are now doing in our social life, and new hope and inspiration to individual men and women and new promise to youth."

"We are living the events which for centuries to come will be minutely studied by scholars who will undoubtedly describe these days as probably the most exciting and creative in the history of mankind. But preoccupied with our daily chores, our worries and personal hopes and ambitions, few of us are actually living in the present."

"A policy therefor might be likened to strategy, the broad, overall, long term conception which gives direction and purpose to the tactics of immediately daily operations and decisions."

"A policy is a formulation of long term goals and purposes and of the values and aspirations by which those goals and purposes are not only defined but are to be translated into activities and practices. Thus a policy is an affirmation, perhaps a reaffirmation, of what may be taken for granted or is implied, but what is frequently ignored or neglected or inadequately recognized in plans and programs and customary operations. Sometimes a policy serves to point out where these goals and purposes and these values are being blocked or sacrificed to various short-term ends or convenience."

"When we scrutinize the actual procedures that may be called projective methods we find a wide variety of techniques and material being employed for the same general purpose, to obtain from the subject 'what he cannot or will not say,' frequently because he does not know himself and is not aware what he is revealing about himself through his projections."

"In similar fashion we may approach the personality and induce the individual to reveal his way of organizing experience by giving him a field (objects, materials, experiences) with relatively little structure and cultural patterning so that the personality can project upon that plastic field his way of seeing life, his meanings, significances, patterns, and especially his feelings, Thus we elicit a projection of the individual's private world, because he has to organize the field, interpret the material, and react affectively to it. More specifically, a projection method for study of personality involves the presentation of a stimulus-situation designed or chosen because it will mean to the subject, not what the experimenter has arbitrarily decided it should mean (as in most psychological experiments using standardized stimuli in order to be “objective”), but rather whatever it must mean to the personality who gives it, or imposes it, his private, idiosyncratic meaning and organization. The subject then will respond to his meaning of the presented stimulus-situation by some form of action and feeling that is expressive of his personality."

"Coming directly to the topic of projective methods of personality study, we may say that the dynamic conception of personality as a process of organizing experience and structuralizing life space in a field leads to the problem of how we can reveal the way an individual personality organizes experience, in order to disclose or at least gain insight into that individual's private world of meanings, significances, patterns, and feelings."

"The most important things about the individual are what he cannot or will not say."

"There are always “class or prestige” gaps between various levels of management. There are also functional gaps between working units of the organization. If we superimpose the management gaps on top of the functional gaps, we find that companies are made up of small operational islands that refuse to communicate with one another for fear that giving up information may strengthen their opponents. The {[w|project manager}}’s responsibility is to get these islands to communicate cross-functionally toward common goals and objectives."

"With over 35 years experience, Dr. Harold Kerzner is widely regarded as "the master of project management." He has published a number of best-selling books, including Project Management: A Systems Approach to Planning, Scheduling, and Controlling, and has taught and consulted extensively."

"Today, excellent companies realize that project failures have more to do with behavioral shortcomings — poor employee morale, negative human relations, low productivity, and lack of commitment."

"As contractors began to understand project management better and stronger cost control became a requirement, the definition of success changed. Success came to be defined as accomplishing the effort on time, within budget, and at an acceptable level of quality."

"Project management is the planning, organizing, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives. Furthermore, project management utilises the systems approach to management by having functional personnel (the vertical hierarchy) assigned to a specific project (the horizontal hierarchy)."

"Today, the concept behind project management is being applied in such diverse industries and organizations as defense, construction, pharmaceuticals, chemicals, banking, hospitals, accounting, advertising, law, state and local governments, and the United Nations."

"Project management has long been discussed by corporate executives and academics as one of several workable possibilities for organizational forms of the future that could integrate complex efforts and reduce bureaucracy.... This approach does not really destroy the vertical, bureaucratic flow of work but simply requires that line organizations talk to the other horizontally so work will be accomplished more smoothly throughout the organization"

"The acceptance of project management has not been easy, however. Many executives are not willing to accept change and are inflexible when it comes to adapting to a different environment."

"If these responsibilities were applied to the total organization, they might reflect the job description of the general manager. This analogy between project and general managers is one of the reasons why future general managers are asked to perform functions that are implied, rather than spelled out, in the job description."

"There is no such thing as a good or bad organizational structure; there are only appropriate or inappropriate ones."

"The ’s job is not an easy one. Project managers may have increasing responsibility, but very little authority. This lack of authority can force them to “negotiate” with upper-level management as well as functional management for control of company resources. They may often be treated as outsiders by the formal organization."

"Man's conception of what is most worth knowing and reflecting upon, of what may best compel his scholarly energies, has changed greatly with the years. His earliest impressions were of his own insignificance and of the stupendous powers and forces by which he was surrounded and ruled. The heavenly fires, the storm-cloud and the thunderbolt, the rush of waters and the change of seasons, all filled him with an awe which straightway saw in them manifestations of the superhuman and the divine. Man was absorbed in nature, a mythical and legendary nature to be sure, but still the nature out of which science was one day to arise. Then, at the call of Socrates, he turned his back on nature and sought to know himself; to learn the secrets of those mysterious and hidden processes by which he felt and thought and acted. The intellectual centre of gravity had passed from nature to man. From that day to this the goal of scholarship has been the understanding of both nature and man, the uniting of them in one scheme or plan of knowledge, and the explaining of them as the offspring of the omnipotent activity of a Creative Spirit, the Christian God. Slow and painful have been the steps toward the goal which to St. Augustine seemed so near at hand, but which has receded through the intervening centuries as the problems grew more complex and as the processes of inquiry became so refined that whole worlds of new and unsuspected facts revealed themselves. Scholars divided into two camps. The one would have ultimate and complete explanations at any cost; the other, overcome by the greatness of the undertaking, held that no explanation in a large or general way was possible. The one camp bred sciolism; the other narrow and helpless specialization. At this point the modern university problem took its rise; and for over four hundred years the university has been striving to adjust its organization so that it may most effectively bend its energies to the solution of the problem as it is. For this purpose the university's scholars have unconsciously divided themselves into three types or classes: those who investigate and break new ground; those who explain, apply, and make understandable the fruits of new investigation; and those philosophically minded teachers who relate the new to the old, and, without dogma or intolerance, point to the lessons taught by the developing human spirit from its first blind gropings toward the light on the uplands of Asia or by the shores of the Mediterranean, through the insights of the world's great poets, artists, scientists, philosophers, statesmen, and priests, to its highly organized institutional and intellectual life of to-day. The purpose of scholarly activity requires for its accomplishment men of each of these three types. They are allies, not enemies; and happy the age, the people, or the university in which all three are well represented. It is for this reason that the university which does not strive to widen the boundaries of human knowledge, to tell the story of the new in terms that those familiar with the old can understand, and to put before its students a philosophical interpretation of historic civilization, is, I think, falling short of the demands which both society and university ideals themselves may fairly make. A group of distinguished scholars in separate and narrow fields can no more constitute a university than a bundle of admirably developed nerves, without a brain and spinal cord, can produce all the activities of the human organism."

"Until the family and the church can be roused to the full height of their responsibility we cannot expect to find the youth of the land in possession of that religious knowledge and religious feeling which were characteristic of their ancestors two or three generations ago."

"Generally, you can be humble only if you feel really good about yourself — and you want to help those around you feel really good about themselves."

"The transition from proprietary architecture to open modular architecture just happens over and over again. It happened in the personal computer. Although it didn’t kill Apple’s computer business, it relegated Apple to the status of a minor player. … You also see modularity organized around the Android operating system that is growing much faster than the iPhone. So I worry that modularity will do its work on Apple."

"So the people using the Android operating system are now Motorola, Samsung, LG. And they are killing Apple: now, Android accounts for about 80 percent of the market."

"All of the points that [Professor Lepore] raised were not just wrong, but they were lies. Ours is the only theory in business that actually has been tested in the marketplace over and over again. ... And for her to take that on, to take me on and the theory on – I don't know where the meanness came from."