Keynes on what it takes to be an economist:
The study of economics does not seem to require any specialized gifts of an unusually high order. Is it not, intellectually regarded, a very easy subject compared with the higher branches of philosophy or pure science? An easy subject, at which very few excel! The paradox finds its explanation, perhaps, in that the master-economist must possess a rare combination of gifts. He must be mathematician, historian, statesman, philosopher–in some degree. he must understand symbols and speak in words. He must contemplate …

A brief reminder is in order here because from time to time, I do resort to very simple economic models. The utility of simple models in assisting thinking about complex matters is under-appreciated by most of us whose professional interests do not require model-based thinking. In the hard sciences, physicists and cosmologists commonly use models to clarify their thinking and illuminate the essential features of the complex theoretical subjects they study. Where the search space of a solution is unmanageable large, simulations based on simple models come in handy, such …

Really productive ideas, like internal combustion and the assembly line, are hard to find… But the techno-hype that surrounds us has some real costs. It causes businesses to waste money; it causes politicians to seek high-tech fixes (give every child a laptop!) when they should be getting back to the basics (teach every child to read). The slightly depressing truth is that technology has been letting us down lately. Let’s face up to that truth, and get on with our lives.
That is Paul Krugman writing in Dec 1996.

“To laugh often and much;
To win the respect of intelligent people and the affection of children;
To earn the appreciation of honest critics and endure the betrayal of false friends;
To appreciate beauty, to find the best in others;
To leave the world a bit better, whether by a healthy child, a garden patch, or a redeemed social condition;
To know even one life has breathed easier because you have lived;
This is to have succeeded.”
– Ralph Waldo Emerson

It is not to the State that we owe the multitudinous useful inventions from the spade to the telephone; it is not the State which made possible extended navigation by a developed astronomy; it was not the State which made the discoveries in physics, chemistry, and the rest, which guide modern manufacturers; it was not the State which devised the machinery for producing fabrics of every kind, for transferring men and things from place to place, and for ministering in a thousand ways to our comforts. The worldwide transactions conducted …

Desiderata, the plural for “desideratum” which means “something to be desired or wanted.” Years ago I came across a piece by Max Ehrman titled “Desiderata.” There is a perfection about that piece. Brief and yet packs in a tremendous amount of practical wisdom. Its simple words have the depth to provide perspective to life’s joys, sorrows, trials and tribulations. I have yet to come across any situation that could not have been referred to the piece without insight.
My favorite lines from it: “You are a child of the universe, …

The past is never dead. It’s not even past. All of us labor in webs spun long before we were born, webs of heredity and environment, of desire and consequence, of history and eternity. Haunted by wrong turns and roads not taken, we pursue images perceived as new but whose providence dates to the dim dramas of childhood, which are themselves but ripples of consequence echoing down the generations. The quotidian demands of life distract from this resonance of images and events, but some of us feel it always.
–William …

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

Also Sprach Carl Sagan:
“We succeeded in taking that picture [from deep space], and, if you look at it, you see a dot. That’s here. That’s home. That’s us. On it, everyone you ever heard of, every human being who ever lived, lived out their lives. The aggregate of all our joys and sufferings, thousands of confident religions, ideologies and economic doctrines, every hunter and forager, every hero and coward, every creator and destroyer of civilizations, every king and peasant, every young couple in love, every hopeful child, every mother …

The following is an excerpt from a comment by one “E.G.” I don’t think it particularly matters in which context the comment was made or where. I just find it worth reading and pondering over.
Begin quote:

Reading on a lazy Sunday afternoon is a luxury that I look forward to eagerly. Authors that I have special regard for, I read slowly and deliberately. I value not just the ideas but also how they are presented. So it was with particular relish that I curled up with today’s book “The God Delusion” by Richard Dawkins. He is a master craftsman constructing elegant arguments that are a delight to behold. Here are some excerpts, for the record.

“All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.”
– John Kenneth Galbraith

Knowledge is sorrow; they who know the most
Must mourn the deepest o’er the fatal truth,
The Tree of Knowledge is not that of Life.

– George Gordon Noel, Lord Byron

I like to read. Actually, I like to read what makes me think. And that makes me a slow reader. On top of that, I am lazy. So it is a rare book that I read cover to cover. But when I do read a book completely, I usually read it all over again. If it is worth reading once, I believe, it is worth reading a second time. One such book is by a favorite author of mine — Marvin Harris. He is an anthropologist. I first read him …

“When a candidate for public office faces the voters he does not face men of sense; he faces a mob of men whose chief distinguishing mark is the fact that they are quite incapable of weighing ideas, or even of comprehending any save the most elemental — men whose whole thinking is done in terms of emotion, and whose dominant emotion is dread of what they cannot understand. So confronted, the candidate must either bark with the pack or be lost… All the odds are on the man who is, …

Give a man a reputation for being an early riser, and he can sleep every day until noon without worrying. — Mark Twain.

Swami Vivekanand’s immortal words have the power to inspire and motivate. He should be required reading for the truly educated Indian. It is sad that too many of our “brothers and sisters” (to use his words) are incapable of reading.
Subhas Reddy, a visitor to this blog, was kind enough to send me some excerpts from this site.
True reformer
“If you wish to be a true reformer, three things are necessary. The first is to feel. Do you really feel for your brothers? Do you really feel that there is so …

No man is an island, entire of itself; every man is a piece of the continent, a part of the main. If a clod be washed away by the sea, Europe is the less, as well as if promontory were, as well as if a manor of thy friend’s or of thine own were. Any man’s death diminishes me, because I am involved in mankind; and therefore never send to know for whom the bell tolls; it tolls for thee.
Those lines are John Donne’s From Devotions upon Emergent Occasions. …

I believe that no discovery of fact, however trivial, can be wholly useless to the race, and that no trumpeting of falsehood, however virtuous in intent, can be anything but vicious.
I believe that all government is evil, in that all government must necessarily make war upon liberty, and that the democratic form is as bad as any of the other forms….
I believe in complete freedom of thought and speech – alike for the humblest man and the mightiest, and in the utmost freedom of conduct that is consistent with living …

Today’s poem is one of the saddest I have read in the English language. It is by W. H. Auden, dated around 1945. The last line encapsulates deep despair and sadness. I think it is best to read it when things are fine and life is not turbulent.