Great Sentences I Read In The Past 24 Hours

From J.K. Galbraith's "The Proper Purpose of Economic Development" in Economics, Peace and Laughter:

"One of the generally amiable idiosyncrasies of man is his ability to expend a great deal of effort without much inquiry as to why. Most of the descriptions and pictures of the moon I have seen make it out to be a rather questionable piece of property. The absence of atmosphere would seem to be a real handicap. Likewise of water. The climate is predictable, if poor. In northern Canada and Alaska, agriculture suffers from a very short growing season. The moon presents the limiting case of none. Settlement will almost be certainly be slow. Yet these and similar shortcomings show no signs of deterring man in his enthusiasm to get there..."

Galbraith was no fool. He could write, and he understood human nature. His conclusions were wrongheaded and shortsighted, but he needs to be read.


From F.A. Hayek's The Counter-Revolution of Science:

"...But in the general atmosphere in which Quetelet's work became known the belief was bound to arise that the statistical methods, which he had so successfully applied to some problems of social life, were destined to become the the sole method of study. And Quetelet himself contributed not a little to create that belief."

Economics has been dealing with the same problems for fifty years. The question all young economists must ask, what do I have to contribute? I am not talking about meaningless papers or conference presentations. I am talking about what can we say about the big questions early economists set out to answer.

This begs the question, what are the big questions. I think "how do we enrich Africa and the world's poor?" is still relevant. I also think "how do we balance the incentives to innovate (in health care) with providing these new innovations to people (everyone) who can benefit from these innovations (the uninsured poor)?" is relevant.

What I am trying to say is that Hayek and Galbraith are still relevant. How do I remain relevant?