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Economic theory deals with two concepts, Value and Economy. Abstract reasoning regarding these concepts rests ultimately on mathematical concepts of quantity, time and energy. The three are inseparable, for quantity and time are dimensions of energy. The quantity relationships of energy, usually termed "statics," turn on the problem of the relation of the parts to the whole, while the time relationships, usually termed "dynamics," are the relations of a process that connects past, present and future.
John R. Commons
The Art of Sight Recognition, being no longer needed, was no longer practised; and the studies of Geometry, Statics, Kinetics, and other kindred subjects, came soon to be considered superfluous, and fell into disrespect and neglect even at our University. The inferior Art of Feeling speedily experienced the same fate at our Elementary Schools....
Edwin Abbott Abbott
A forthcoming book by Harry Markowitz, Techniques of Portfolio Selection, will treat the general problem of finding dominant sets and computing the corresponding opportunity locus, for sets of securities all of which involve risk. Markowitz's main interest is prescription of rules of rational behaviour for investors; the main concern of this paper is the implications for economic theory, mainly comparative statics, that can be derived from assuming that investors do in fact follow such rules.
James Tobin
It is to the Italian astronomer, forced in old age by the Inquisition to turn aside from the more dangerous study of the machinery of the heavens, that we owe the first exposition of many of the problems of mechanics and statics, published... in 1638. Not only did Galileo put together whatever the sixteenth century had learned in the sciences affecting building construction, but from his study of the bending strength of a beam there dates a new branch of science-the theory of the strength of materials.
Galileo Galilei