The special sphere of finance within economics is the study of allocation and deployment of economic resources, both spatially and across time, in an uncertain environment. To capture the influence and interaction of time and uncertainty effectively requires sophisticated mathematical and computational tools.


Robert C. Merton

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Eros (or call it lust if you will), is like a beautiful, magnificent Afghan Hound! A pure white Afgh...
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Pastor Smith did not have the religious constitution needed to provide salvation for any of us who�...
CHERYL R COWTAN
And what good is a voice when so few will listen?
STACEY JAY
Absoballylutely top hole, wot. A and B the C of D I'd say. . . Above and Beyond the Call of Duty.
BRIAN JACQUES
God created us in his image, male and female, with personhood and sexual passions, so that when he c...
JOHN PIPER
Who are we if not the stories we pass down? What happens when there's no one left to tell those stor...
CARRIE RYAN
Anger - a beast within us that needs taming.
SARU SINGHAL
If in barbed wire things can bloom, why couldn't I? I will not die, I will not die.
FRIEDL AND THE CHILDREN OF TEREZIN
At the end of the warehouse was a dais constructed from pallets of books: stack of vampire novels, w...
RICK RIORDAN
When each and every believer rises up to serve others and function according to their capacity, the ...
HENRY HON
This is a test. It is only a test. Had it been an actual job, you would have received raises, promot...
ROBERT BENCHLEY
There is no expedient to which a man will not resort to avoid the real labor of thinking.
JOSHUA REYNOLDS
You don't manage people; you manage things. You lead people.
ADMIRAL GRACE HOOPER
There is no glory in outstripping donkeys.
MARTIAL
There ain't no such thing as a free lunch." A Libertarian Movement slogan - The Moon Is a Harsh Mi...
ROBERT A. HEINLEIN
I am indeed rich, since my income is superior to my expense, and my expense is equal to my wishes.
EDWARD GIBBON
Business, that's easily defined; it's other people's money.
ALEXANDRE DUMAS
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be e...
ROBERT HEINLEIN
If all the economists were laid end to end, they'd never reach a conclusion.
GEORGE BERNARD SHAW
Only the little people pay taxes.
FRAN LEBOWITZ
...the only means to well-being is to increase the quantity of products. This is what business aims...
LUDWIG VON MISES
Economics is not about things and tangible material objects; it is about men, their meanings and act...
LUDWIG VON MISES
What pays under capitalism is satisfying the common man, the customer. The more people you satisfy,...
LUDWIG VON MISES
The first condition for the establishment of perpetual peace is the general adoption of the principl...
LUDWIG VON MISES
Business is a means- the only means- to increase the quantity of goods available for preserving life...
LUDWIG VON MISES
The rich adopt novelties and become accustomed to their use. This sets a fashion which others imita...
LUDWIG VON MISES
As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed a...
LUDWIG VON MISES
It is impossible to understand the history of economic thought if one does not pay attention to the ...
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All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implic...
LUDWIG VON MISES
Show me the business man or institution not guided by sentiment and service; by the idea that "he pr...
B. F. HARRIS
The highest use of capital is not to make more money, but to make money do more for the betterment o...
ARTHUR GODFREY
In all recorded history there has not been one economist who has had to worry about where the next m...
ALFRED A. KNOPF
It's the economy, stupid.
BILL CLINTON
The "human condition" is always to push forward for the better and economics is the study of that pr...
BRIAN S. WESBURY
Whoever claims that economic competition represents 'survival of the fittest' in the sense of the la...
GEORGE REISMAN
The truth is that economic competition is the very opposite of competition in the animal kingdom. I...
GEORGE REISMAN
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, b...
GEORGE GILDER
Only positive consequences encourage good future performances.
GEORGE CRANE
Money may kindle, but it cannot by itself, and for very long, burn.
IGOR STRAVINSKI
Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they'r...
JAMES BUCHAN
We are all manufacturers. Making good, making trouble, or making excuses.
H. V. ADOLT
Most people...find a disorientating mismatch between the long-term nature of their liabilities and t...
HOWARD DAVIES
If you wish to prosper, let your customer prosper.When people have learned this lesson, everyone wil...
FREDERIC BASTIAT
There are only two lasting bequests we can hope to give our children. One of these is roots, the oth...
HODDING CARTER
My riches consist not in the extent of my possessions, but in the fewness of my wants.
J. BROTHERTON
I wake up every morning and thank God I’m not a chartered accountant any longer, but involved with...
GODFREY BRADMAN
Economics is first and foremost about the thoughts leading up to choice.
GERALD P. O'DRISCOLL
Forty for you, sixty for me And equal partners we will be.
GERALD BARZAN
Taxation WITH representation ain't so hot either.
GERALD BARZAN
We Asians are the original Conservatives because for thousands of years we have believed in free ent...
JAYVANTSINNJI GOHEL
My father taught me to work; he did not teach me to love it.
JOHN G. POLLARD
The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depe...
JULIAN SIMON
The standard of living has risen along with the size of the world's population since the beginning o...
JULIAN SIMON
The increase in the world's population represents our victory against death...
JULIAN SIMON
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understa...
JULIAN SIMON
It is your mind that matters economically, as much or more than your mouth or hands. In the long ru...
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Our whole evolution up to this point shows that human groups spontaneously evolve patterns of behavi...
JULIAN SIMON
Our supplies of natural resources are not finite in any economic sense. Nor does past experience giv...
JULIAN SIMON
Everything starts with the customer.
JR. GERSTNER
What is high finance? It’s knowing the difference between one and ten, multiplying, subtracting a...
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We live in a time of transition, an uneasy era which is likely to endure for the rest of this centur...
JIMMY CARTER
We've entered an era when very good, competent people aren't getting jobs. One remedy is to stand o...
JEFFREY P. DAVIDSON
When people go to work, they shouldn't have to leave their hearts at home.
KENNETH H. BLANCHARD
Commerce is the cure for the most destructive prejudices.
DE MONTESQUIEU
If you have to forecast, forecast often.
EDGAR R. FIEDLER
He who lives by the crystal ball soon learns to eat ground glass.
EDGAR R. FIEDLER
The market is a place set apart where men may deceive each other.
DIOGENES LAERTIUS
The business that considers itself immune to the necessity for advertising sooner or later finds its...
DERBY BROWN
Credit buying is much like being drunk. The buzz happens immediately, and it gives you a lift. The h...
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The question is, then, do we try to make things easy on ourselves or do we try to make things easy o...
ERWIN FRAND
He that is rich is wise.
DANIEL DEPOE
I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all togeth...
CHARLES SCHWAB
There's no reason to be the richest man in the cemetery. You can't do any business from there.
COLONEL SANDERS
Reliable office staff come in the shape of mature married women working from 9.30!.30 (inside school...
CHRIS BRASHER
...we see that there are two different kinds of...societies: (a) parasitic societies and (b) produci...
CARROLL QUIGLEY
I figure you have the same chance of winning the lottery whether you play or not.
MICHAEL MCSHANE
The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, ...
MICHAEL E. GERBER
Every day I get up and look through the Forbes list of the richest people in America. If I'm not the...
LORD RUTHERFORD
What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us ...
HENRY GEORGE
Prices are important not because money is considered paramount but because prices are a fast and eff...
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The growing complexity of science, technology, and organization does not imply either a growing know...
THOMAS SOWELL
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated...
KENICHI OHMAE
American prosperity and American free enterprise are both highly unusual in the world, and we should...
THOMAS SOWELL
The principles applied in economic processes are general social principles.
THOMAS SOWELL
Perhaps the most widespread misunderstanding of economics is that it applies solely to financial tra...
THOMAS SOWELL
Since man does not create physical matter, those who handle material objects in the production proce...
THOMAS SOWELL
Price fixing does not represent simply windfall gains and losses to particular groups according to w...
THOMAS SOWELL
The desire of businessmen for profits is what drives prices down unless forcibly prevented from enga...
THOMAS SOWELL
When you hire people that are smarter than you are, you prove you are smarter than they are.
R. H. GRANT
It is time that financial types developed a greater tolerance for imprecision, because that’s the ...
JOHN C. BURTON
Based on first-hand evidence of your own senses - the improved health and later ages at which acquai...
JULIAN SIMON
The most important benefit of population size and growth is the increase it brings to the stock of u...
JULIAN SIMON
Greater consumption due to increase in population and growth of income heightens scarcity and induce...
JULIAN SIMON
The financial climate is the worst it's been in 25 years.
MICHAEL O'DONNELL
We do not hear the term "compassionate" applied to business executives or entrepreneurs, certainly n...
NATHANIEL BRANDEN
It takes all the fun out of a bracelet if you have to buy it yourself.
PEGGY JOYCE
Money isn't everything… but it ranks right up there with oxygen.
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Even if you fall on your face, you're still moving forward.
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Change is inevitable-except from a vending machine.
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Do not run a campaign that would embarrass your mother.
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You are only what you are when no one is looking.
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Most people are willing to pay more to be amused than to be educated.
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You can measure a man by the opposition it takes to discourage him.
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Love God and trust your feelings. Be loyal to them. Don't betray them.
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Never exaggerate your faults, your friends will attend to that.
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Change is inevitable - except from a vending machine.
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Love God and trust your feelings. Be loyal to them. Don't betray them.
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Every time I find the meaning of life, they change it
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I will never submit to fight beneath that banner with a Negro by my side. Rather I should die a thou...
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The Klan is needed today as never before and I am anxious to see its rebirth here in West Virginia. ...
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The goal in marriage is not to think alike, but to think together.
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Those peckerwoods don't know what they're doing. They don't. They're not being realistic.
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Man's nature, he postulated, was to be a "free conscious producer," but so far he had not been able ...
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To the extent that the United States has, I don't like the word hegemony, the United States has ...
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There has been talk in Europe about American hegemony being somehow based upon the use of the dollar...
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Slavery is but half abolished, emancipation is but half completed, while millions of freeman with v...
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There are no points of the compass on the chart of true patriotism.
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Our country--whether bounded by the St. John's and the Sabine, or however otherwise bounded or desc...
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The best and most efficient pharmacy is within your own system.
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A long descriptive name is better than a short enigmatic name. A long descriptive name is better tha...
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Never pity missionaries; envy them. They are where the real action is -- where life and death, sin a...
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Heaven has no room for the self-righteous.
C. ROBERT CARGILL
They call me 'The Pork King,' they don't know how much I enjoy it.
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Truth can only be found in one place: the code.
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Procedural code (code using data structures) makes it easy to add new functions without changing the...
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The complement is also true: Procedural code makes it hard to add new data structures because all th...
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Programming is a social activity.
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It is not enough for code to work.
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One's family is the most important thing in life. I look at it this way: One of these days I'll be o...
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I don't remember her. But she feels special. There's this hole in my heart every time I draw her; yo...
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Simon Sparks was an oozing slug of a man poured neatly into a three-piece suit.
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After all, the three major sources of apartments are death, divorce and transfer.
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Death is someone you see very clearly with eyes in the center of your heart: eyes that see not by re...
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There's something magical about film, it's the ultimate for me, because it's kind of per...
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You must realize that it is the ordinary way of God's dealings with us that our ideas do not work ou...
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I am willing to admit that some people might live there for years, or even a lifetime, so protected ...
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The point where you become free not to kill, not to exploit, not to destroy, not to compete, because...
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Art enables us to find ourselves and lose ourselves at the same time.
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The logic of worldly success rests on a fallacy: the strange error that our perfection depends on th...
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The deepest of level of communication is not communication, but communion. It is wordless ... beyond...
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The beginning of love is the will to let those we love be perfectly themselves, the resolution not t...
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If you want to identify me, ask me not where I live, or what I like to eat, or how I comb my hair, b...
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Only the man who has had to face despair is really convinced that he needs mercy. Those who do not w...
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Love is our true destiny. We do not find the meaning of life by ourselves alone - we find it with an...
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Memory is corrupted and ruined by a crowd of memories. If I am going to have a true memory, t...
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October is a fine and dangerous season in America...a wonderful time to begin anything at all. You g...
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We live in a society whose whole policy is to excite every nerve in the human body and keep it at th...
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Our job is to love others without stopping to inquire whether or not they are worthy. That is not ou...
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I cannot make the universe obey me. I cannot make other people conform to my own whims and fancies. ...
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What can we gain by sailing to the moon if we are not able to cross the abyss that separates us from...
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We stumble and fall constantly even when we are most enlightened. But when we are in true spiritual ...
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Do not depend on the hope of results. You may have to face the fact that your work will be apparentl...
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We do not exist for ourselves...
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Modern man believes he is fruitful and productive when his ego is aggressively affirmed, when he is ...
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Each one of us has some kind of vocation. We are all called by God to share in His life and in His K...
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The whole idea of compassion is based on a keen awareness of the interdependence of all these living...
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The monk in hiding himself from the world becomes not less than himself, not less of a person, but m...
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I certainly do not consider myself permanently dedicated to a crusade for peace and I am beginning t...
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Attachment to spiritual things is.. just as much an attachment as inordinate love of anything else.
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In the last analysis, the individual person is responsible for living his own life and for finding h...
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To allow oneself to be carried away by a multitude of conflicting concerns, to surrender to too many...
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The truth that many people never understand, until it is too late, is that the more that you try to ...
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Happiness is not a matter of intensity but of balance and order and rhythm and harmony.
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The truth that many people never understand, until it is too late, is that the more you try to avoid...
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If you want to study the social and political history of modern nations, study hell
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At the center of our being is a point of nothingness which is untouched by sin and by illusion, a po...
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The truth that many people never understand, until it is too late, is that the more you try to avoid...
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So everybody has some information. The function of the markets is to aggregate that information, eva...
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Everyone recognizes that's a joke because obviously the number and shape of the pieces doesn'...
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I'm always amazed to hear of air crash victims so badly mutilated that they have to be identifie...
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My school days were the happiest days of my life; which should give you some indication of the miser...
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As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a...
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The biggest human temptation is to settle for too little.
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The least of the work of learning is done in the classroom.
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If you want to study the social and political history of modern nations, study hell.
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The very contradictions in my life are in some ways signs of God's mercy to me.
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A life is either all spiritual or not spiritual at all. No man can serve two masters. Your life is s...
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Perhaps I am stronger than I think.
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When ambition ends, happiness begins.
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Every moment and every event of every man's life on earth plants something in his soul.
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You only need to make one big score in finance to be a hero forever.
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I was trying to organise my DVDs into a sort of chronological order, and I am afraid that it all tra...
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When I wake up on a Monday morning and I realise I don't have to go and work at the civil servic...
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If you became a comedian in the '80s, you had to work the circuit and make people laugh. Canned ...
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It is therefore of supreme importance that we consent to live not for ourselves but for others. When...
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A tree gives glory to God by being a tree. For in being what God means it to be it is obeying [God]....
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My Lord God, I have no idea where I am going. I do not see the road ahead of me. I cannot know for c...
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But there is greater comfort in the substance of silence than in the answer to a question.
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October is a fine and dangerous season in America. a wonderful time to begin anything at all. You go...
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Just remaining quietly in the presence of God, listening to Him, being attentive to Him, requires a ...
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Pride makes us artificial and humility makes us real.
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When I turned about 12 or 13, I realised that being funny wasn't about remembering jokes. It was...
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Commemoration of Thomas Merton, Monk, Spiritual Writer, 1968 We must remember that our experien...
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THOMAS MERTON
Commemoration of Thomas Merton, Monk, Spiritual Writer, 1968 Our knowledge of God is paradoxica...
THOMAS MERTON
Feast of Mary Sumner, Founder of the Mothers' Union, 1921 We must be willing to accept the bitt...
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Commemoration of Lanfranc, Prior of Le Bec, Archbishop of Canterbury, 1089 Prayer and love are le...
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Commemoration of Thomas Merton, Monk, Spiritual Writer, 1968 The great thing, and the only thing,...
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Commemoration of Thomas Merton, Monk, Spiritual Writer, 1968 This matter of "salvation" is, whe...
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The most dangerous man in the world is the contemplative who is guided by nobody. He trusts his own ...
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You do not need to know precisely what is happening, or exactly where it is all going. What you need...
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People have no idea what one saint can do: for sanctity is stronger than the whole of hell.
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In the last analysis, the individual person is responsible for living his own life and for 'find...
THOMAS MERTON
A daydream is an evasion.
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No one can find God without having first been found by Him. A monk is a man who seeks God because he...
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Solitude is not something you must hope for in the future. Rather, it is a deepening of the present,...
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To consider persons and events and situations only in the light of their effect upon myself is to li...
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All disc jockeys are without talent. Noel Edmonds - I can't stand Noel Edmonds.
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Most people might just as well buy a share of the whole market, which pools all the information, tha...
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Wheels of fire, cosmic, rich, full-bodied honest victories over desperation.
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When I used to do the Edinburgh Festival, there was a bunch of guys selling fresh oysters and I'...
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October is a fine and dangerous season in America . . . a wonderful time to begin anything at all.
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We must make the choices that enable us to fulfill the deepest capacities of our real selves.
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We have what we seek, it is there all the time, and if we give it time, it will make itself known to...
THOMAS MERTON
The least of the work of learning is done in the classroom
THOMAS MERTON
Love is our true destiny. We do not find the meaning of life by ourselves alone-we find it with anot...
THOMAS MERTON
We are already one. But we imagine that we are not. And what we have to recover is our original unit...
THOMAS MERTON
The least of learning is done in the classrooms.
THOMAS MERTON
An author in a Trappist monastery is like a duck in a chicken coop. And he would give anything in th...
THOMAS MERTON
Faith is a light of such supreme brilliance that it dazzles the mind and darkens all its visions of ...
THOMAS MERTON
It is in deep solitude that I find the gentleness with which I can truly love my brothers. The more ...
THOMAS MERTON
My research interests since then have shifted strongly towards the economic and regulatory problems ...
MERTON MILLER
The tighter you squeeze, the less you have.
THOMAS MERTON
Attachment to spiritual things is... just as much an attachment as inordinate love of anything else.
THOMAS MERTON
The thing about improvisation is that it's not about what you say. It's listening to what ot...
PAUL MERTON
It is in deep solitude that I find the gentleness with which I can truly love my brothers. The more ...
THOMAS MERTON
If I had a message to my contemporaries it is surely this: Be anything you like, be madmen, drunks, ...
THOMAS MERTON
If you write for God you will reach many men and bring them joy. If you write for men--you may make ...
THOMAS MERTON
Instead of hating the people you think are war-makers, hate the appetites and disorder in your own s...
THOMAS MERTON
The greatest need of our time is to clean out the enormous mass of mental and emotional rubbish that...
THOMAS MERTON
For me to be a saint means to be myself. Therefore the problem of sanctity and salvation is in fact ...
THOMAS MERTON
There is only one problem on which all my existence, my peace, my happiness depend: to discover myse...
THOMAS MERTON
We have the choice of two identities: the external mask which seems to be real...and the hidden, inn...
THOMAS MERTON
I was not sure where I was going, and I could not see what I would do when I got [there]. But you sa...
THOMAS MERTON
Most of the world is either asleep or dead. The religious people are, for the most part, asleep. The...
THOMAS MERTON
To know the Cross is not merely to know our own sufferings. For the Cross is the sign of salvation, ...
THOMAS MERTON
One of the effects of original sin is an instinctive prejudice in favour of our own selfish desires....
THOMAS MERTON
In actual fact, conventions are the death of real tradition as they are of all real life. They are p...
THOMAS MERTON
God has left sin in the world in order that there may be forgiveness: not only the secret forgivenes...
THOMAS MERTON
True happiness is not found in any other reward than that of being united with God. If I seek some o...
THOMAS MERTON
In all His acts God orders all things, whether good or evil, for the good of those who know Him and ...
THOMAS MERTON
There is something in the depths of our being that hungers for wholeness and finality. Because we ar...
THOMAS MERTON
Everything in modern city life is calculated to keep man from entering into himself and thinking abo...
THOMAS MERTON
The Lord did not create suffering. Pain and death came into the world with the fall of man. But afte...
THOMAS MERTON
God, Who is everywhere, never leaves us. Yet He seems sometimes to be present, sometimes to be absen...
THOMAS MERTON
Art enables us to find ourselves and loose ourselves at the same time.
THOMAS MERTON
One who is content with what he has, and who accepts the fact that he inevitably misses very much in...
THOMAS MERTON
Who is willing to be satisfied with a job that expresses all his limitations? He will accept such wo...
THOMAS MERTON
We are obliged to love one another. We are not strictly bound to 'like' one another. Love governs th...
THOMAS MERTON
Every man becomes the image of the God he adores.
He whose worship is directed to a dead thing ...
THOMAS MERTON
A man who fails well is greater than one who succeeds badly.
THOMAS MERTON
The real reason why so few men believe in God is that they have ceased to believe that even a God ca...
THOMAS MERTON