Economics as currently learned and taught in graduate school and practiced afterward is more theory-intensive and less observation-intensive than perhaps any other science. I think the statement that "no mere fact ever was a match in economics for a consistent theory" accurately describes the prevailing attitude in the profession.
Vernon L. SmithRelated topics
attitude consistent economics fact graduate less match mere perhaps profession school science statement teach theory thinkRelated quotes
[I]t is necessary to insist upon this extraordinary but undeniable fact: experimental science has progressed thanks in great part to the work of men astoundingly mediocre, and even less than mediocre. That is to say, modern science, the root and symbol of our actual civilization, finds a place for the intellectually commonplace man and allows him to work therein with success.
José Ortega y Gasset
We live in an enlightened age, however, an age that has learned to see and to value other living things as they are, not as we wish them to be. And the long and creditable history of science has taught us, if nothing else, to look carefully before we judge-to judge, if we must, based on what we see, not what we would prefer to believe.
Robert Charles Wilson
Contempt for science could perhaps depend on the fact that, science hasn't been able to solve any of our basic problems, for example the environmental pollution or the problems with HIV and AIDS. This is the worst disease of our time, and scientists are lost. I believe that many people are disappointed with science when the answers we need are not delivered.
Björn Ulvaeus
Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy - what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.
John Kenneth Galbraith
