A Quote by Kenneth E. Boulding

I have been gradually coming under the conviction, disturbing for a professional theorist, that there is no such thing as economics - there is only social science applied to economic problems.

Kenneth E. Boulding

Quote Topics

Applied Been Coming Conviction Disturbing Economic Economic Problems Economics Gradually Only Problems Professional Science Social Social Science Thing

Quote Author

Kenneth E. Boulding
American - Economist
January 18, 1910 - March 18, 1993

There is no such thing as economics, only social science applied to economic problems.

Kenneth E. Boulding

Social economic problems do not exist everywhere that an economic event plays a role as cause or effect - since problems arise only where the significance of those factors is problematical and can be precisely determined only through the application of methods of social-economics.

Max Weber

Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications.

James R Newman

I was trained as an economic theorist; my job at MIT was as an economic theorist. At some level that's still part of my identity.

Abhijit Banerjee

Both pure and applied science have gradually pushed further and further the requirements for accuracy and precision. However, applied science, particularly in the mass production of interchangeable parts, is even more exacting than pure science in certain matters of accuracy and precision.

Walter A. Shewhart

People want to think of economics as a natural science, like physics, with the comforting reliability of simple-to-understand theories like F=MA. Unfortunately, it isn't. Economics is a social science, and the so-called theories are really social and moral constructs.

Nick Hanauer

Much theoretical work, of course, focuses on existing economic institutions. The theorist wants to explain or forecast the economic or social outcomes that these institutions generate.

Eric Maskin

It is time to create new social science departments that reflect the breadth and complexity of the problems we face as well as the novelty of 21st-century science. These would include departments of biosocial science, network science, neuroeconomics, behavioral genetics and computational social science.

Nicholas A. Christakis

Medicine is a social science, and politics is nothing else but medicine on a large scale. Medicine, as a social science, as the science of human beings, has the obligation to point out problems and to attempt their theoretical solution: the politician, the practical anthropologist, must find the means for their actual solution. The physicians are the natural attorneys of the poor, and social problems fall to a large extent within their jurisdiction.

Rudolf Virchow

I have been accused of being ignorant of economics (although I am the founder and Chairman of the Board of a company which publishes seven professional economic newsletters), of being ignorant of sociology (although I am trained in sociology and was C. Wright Mills' research assistant at Columbia), of being unable to use statistics (although I earned my living as a professional statistician for five years) and of ignoring political factors (although all my graduate training was in political science).

Lloyd deMause

There is no such thing as applied science, only the application of pure science.

Louis Pasteur

In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.

Kenneth E. Boulding

In all societies that have applied a form of socialism, a certain degree of social economic equality has been achieved.

Indira Gandhi

The economic distress of America's inner cities may be the most pressing issue facing the nation. The lack of businesses and jobs in disadvantaged urban areas fuels not only a crushing cycle of poverty but also crippling social problems such as drug abuse and crime… A sustainable economic base can be created in the inner city, but only as it has been created elsewhere: through private, for-profit initiatives and investment based on economic self-interest and genuine competitive advantage.

Michael Porter

Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.