Works in ChatGPT, Claude, or Any AI
Add semantic quote search to your AI assistant via MCP. One command setup.
An important distinction exists between prospective and retrospective methods of calculating economic quantities such as incomes, savings, and invest… - Gunnar Myrdal
" "An important distinction exists between prospective and retrospective methods of calculating economic quantities such as incomes, savings, and investments; and... a corresponding distinction of great theoretical importance must be drawn between two alternative methods of defining these quantities. Quantities defined in terms of measurements made at the end of the period in question are referred to as ex post; quantities defined in terms of action planned at the beginning of the period in question are referred to as .
English
Collect this quote
About Gunnar Myrdal
Karl Gunnar Myrdal (6 December 1898 – 17 May 1987) was a Swedish economist, sociologist, and politician, best known in the United States for his study of race relations, which culminated in his book . In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." (Nobel Memorial Prize, 1974)
Also Known As
Alternative Names:
Karl Gunnar Myrdal
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by Gunnar Myrdal
The further away a scholarly opinion is from direct observation and the more abstract and ‘theoretical’ it is, the more defenseless it becomes against insidious opportunist errors of judgment. In economics, model thinking in particular creates scope for systematic biases... But of course all social studies must nevertheless aim at generalization. It is thus important to be able to think concretely at the same time, as I learnt from Gustav Cassel.
Unlimited Quote Collections
Organize your favorite quotes without limits. Create themed collections for every occasion with Premium.
Loading...