Satisfactory Quotes - page 3
So, human beings complain that the world is ill-made, do they? But ill-made for whom? For Man, who, in the immense design of the Universe is no more than an unimportant mould! The probability is that everything in this world which we think is botched or erroneous has its reasons at a totally different level of existence. The mould endures, no doubt, a small amount of suffering, but somewhere there are giants who, huge in stature as in mind, live in a state of semi-divinity. This is Voltaire's answer to the problem of evil. It is not very satisfactory because the mould need never have been created, and, in the eyes of God, it may well be that mere size is of no importance.
André Maurois
It is my firm belief that the only satisfactory test of economics is the ability to predict, and in crucial predictive situations such as reconversion after World War II, the settlement of the Korean War, the settlement of the Vietnam War, the abrupt economic policy switch of the Nixon Administration in August 1972, the oil shock of 1973 (forecast of a world-wide succession by LINK), the recession of 1990. In these crucial periods, econometric models outperformed other approaches, yet there is considerable room for improvement, and that is precisely what is being examined in development of high-frequency models that aim to forecast the economy, every week, every fortnight, or every month, depending on the degree of fineness of the information flow.
Lawrence Klein