A Quote by Milton Friedman
...theories should be judged by their ability to predict events rather than by the realism of their assumptions.
Related Quotes
The Pope should not flatter himself about his power nor should he rashly glory in his honor and high estate, because the less he is judged by man, the more he is judged by God. Still the less can the Roman Pontiff glory because he can be judged by men, or rather, can be shown to be already judged, if for example he should wither away into heresy; because he who does not believe is already judged, In such a case it should be said of him: 'If salt should lose its savor, it is good for nothing but to be cast out and trampled under foot by men.'
The Unitarian Church has done more than any other church to substitute character for creed, and to say that a man should be judged by his spirit; by the climate of his heart; by the autumn of his generosity; by the spring of his hope; that he should be judged by what he does; by the influence that he exerts, rather than by the mythology he may believe.
I'd rather have the market tell us what - I'd rather have events precipitate events, rather than just sit there like passive people in Washington.
All science is concerned with the relationship of cause and effect. Each scientific discovery increases man's ability to predict the consequences of his actions and thus his ability to control future events.
It is often assumed that science starts from facts and eschews counter-factual theories. Nothing could be further from the truth. What is one of the basic assumptions of the scientific world-view? That the variety of events that surrounds us is held together by a deeper unity.
Politicians should be judged on their actions, rather than necessarily their views on scripture.
Things should be judged by distance traveled rather than by current position.
I don't feel that I view things with a pessimistic eye. I should try to say which way events will go rather than which way events should go. We have to be realistic.
It should be judged primarily on grace, elegance and beauty rather than simply on mechanic tumbling.
The ability to see our lives as stories rather than unrelated, random events increases the possibility for significant and purposeful action.
All I want to do is realism and follow the tradition of realism. And explore what realism should be now be after the ubiquity of smartphones. I'm trying to answer the question. I don't think I'll ever have the words, but hopefully I'll have a few images.
Realism hasn't fallen out of favor with most people, who are interested in people's lives rather than gymnastics of style or literary trends. It's a certain kind of academic who undervalues realism, largely because it is not amenable to endless exegesis.
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.
All depends really on what kinds of assumptions you make. When you're forecasting things that will be happening 50 to 100 years in the future, it's really hard to predict what's going to happen that far out, so you have to make a bunch of assumptions.
A work, however, should be judged by its design and its execution, and not by any preconceived notion of what it ought to be according to the critic, rather than the author.
I sometimes wish taste wasn't ever an issue, and the sounds of instruments or synths could be judged solely on their colour and timbre. Judged by what it did to your ears, rather than what its historical use reminds you of.
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