In this feverish world of ours, where one wants the economic analyses to produce easily understandable results quickly and at the least possible cost, some of us have fallen into the habit of assuming for simplicity that the hundreds sometimes thousands of variables that enter into the analyses are linked together by very simple relationships. Frequently we even go so far as to assume linear relationships. Only in this way have we been able to feed our problems into the electronic computers and get mechanical answers quickly and at low cost.
Ragnar FrischRelated topics
able analysis assuming cost enter fallen far feed habit least linear low mechanical possible produce simple simplicity way worldRelated quotes
The circular-flow diagram offers a simple way of organizing the economic transactions that occur between households and firms in the economy. The two loops of the circular-flow diagram are distinct but related. The inner loop represents the flows of inputs and outputs. The households sell the use of their labor, land, and capital to the firms in the markets for the factors of production. The firms then use these factors to produce goods and services, which in turn are sold to households in the markets for goods...
Greg Mankiw
In principle, every social situation involves strategic interaction among the participants. Thus, one might argue that proper understanding of any social situation would require game-theoretic analysis. But in actual fact, classical economic theory did manage to sidestep the game-theoretic aspects of economic behavior by postulating perfect competition, i. e., by assuming that every buyer and every seller is very small as compared with the size of the relevant markets, so that nobody can significantly affect the existing market prices by his actions.
John Harsanyi
The work of the painter, the poet or the musician, like the myths and symbols of the savage, ought to be seen by us, if not as a superior form of knowledge, at least as the most fundamental and the only one really common to us all; scientific thought is merely the sharp point more penetrating because it has been whetted on the stone of fact, but at the cost of some loss of substance and its effectiveness is to be explained by its power to pierce sufficiently deeply for the main body of the tool to follow the head.
Claude Lévi-Strauss
Science has only two things to contribute to religion: an analysis of the evolutionary, cultural, and psychological basis for believing things that aren't true, and a scientific disproof of some of faith's claims (e.g., Adam and Eve, the Great Flood). Religion has nothing to contribute to science, and science is best off staying as far away from faith as possible. The "constructive dialogue” between science and faith is, in reality, a destructive monlogue, with science making all the good points, tearing down religion in the process.
Jerry Coyne
Auto-suggestion is disconcerting in its simplicity. To the uninitiated, auto-suggestion or self-mastery is likely to appear disconcerting in its simplicity. But does not every discovery, every invention, seem simple and ordinary once it has become vulgarized and the details or mechanism of it known to the man in the street? Not that I am claiming autosuggestion as my discovery. Far from it, auto-suggestion is as old as the hills; only we had forgotten to practice it, and so we needed to learn it all over again.
Émile Coué
