"I think it's different kinds of minds, and the recognition that certain mental deficiencies may actually have some selective advantages in terms of activities. We've lost a lot of the barriers that have to do with skin color and with various other characteristics. But there's still not sufficient recognition of mental diversities. And we don't all have to think alike to be communal and to live in a productive and satisfying world."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Nobel laureates from the United StatesHarvard University alumniEconomists from the United StatesNobel laureates in EconomicsPeople from Wichita
Original Language: English
Available Languages (1)
Sources
Imported from EN Wikiquote
https://en.wikiquote.org/wiki/Vernon_L._Smith
Revision History
No revisions have been submitted for this quote.
Categories
Vernon L. Smith
Vernon Lomax Smith (born on January 1, 1927) is an American economist, who with Daniel Kahneman was awarded the 2002 Nobel Memorial Prize in Economic Sciences "for having established laboratory experiments as a tool in empirical analysis, especially in the study of alternative market mechanisms."
20 quotes on TrueQuotesView all quotes by Vernon L. Smith ā
Related Quotes
"Even though Hayek, in my view, is the leading economic thinker of the 20th century who saw what must be the mainsprinā¦"
"In the Autumn semester, 1955, I taught Principles of Economics, and found it a challenge to convey basic microeconomiā¦"
"It is important to remove artificial barriersāstumbling stones, often local in origin and coming from incumbent opposā¦"
"Microeconomics, including the study of individual choice and of group choice in market and nonmarket processes, has gā¦"
"Three precepts are offered to constitute a foundation for the use of laboratory experimental methods in testing hypotā¦"
"Nonsatiation (Smith, 1976a). Given a costless choice be ween two alternatives which differ only in that the first yieā¦"
"Complexity. In general individual decision makers must be assumed to have multidimensional values which attach nonmonā¦"
"Parallelism: Propositions about the behavior of individuals and the performance of institutions that have been testedā¦"
"It is not possible to design a laboratory resource allocation experiment without designing an institution in all its ā¦"
"In defining a microeconomic system two distinct component elements will be identified: an environment and an institutā¦"