But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.
Sentiment: NEGATIVE
I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.
For economist the real world is often a special case.
I wasn't actually very naturally good at economics. My brain doesn't work very well, in terms of mathematics.
My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.
I went into the sciences very early on, but to me, economics pervades so much more of our lives and our existence.
I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs.
My main interest, however, was in economics, not law.
In the mid-'60s in Berkeley, the theory of measure spaces of economic agents became one of my main interests.
No opposing quotes found.