General Equilibrium Model

Famous quotes containing the words general, equilibrium and/or model:

    The world can doubtless never be well known by theory: practice is absolutely necessary; but surely it is of great use to a young man, before he sets out for that country, full of mazes, windings, and turnings, to have at least a general map of it, made by some experienced traveller.
    Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)

    When a person hasn’t in him that which is higher and stronger than all external influences, it is enough for him to catch a good cold in order to lose his equilibrium and begin to see an owl in every bird, to hear a dog’s bark in every sound.
    Anton Pavlovich Chekhov (1860–1904)

    Your home is regarded as a model home, your life as a model life. But all this splendor, and you along with it ... it’s just as though it were built upon a shifting quagmire. A moment may come, a word can be spoken, and both you and all this splendor will collapse.
    Henrik Ibsen (1828–1906)