A Quote by Paul Samuelson
Economics never was a dismal science. It should be a realistic science.
Related Quotes
Economics is uncertain because its fundamental subject matter is not money but human action. That's why economics is not the dismal science, it's no science at all.
Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.
persons, with big wigs many of them and austere aspect, whom I take to be Professors of the Dismal Science…
Coining “Dismal Science” as a nickname for Political Economy
Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.
Truly environmentalism has displaced economics as the dismal science.
It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.
Social Science, is not a 'gay science' but rueful, which finds the secret of this universe in 'supply and demand' and reduces the duty of human governors to that of letting men alone. Not a 'gay science', no, a dreary, desolate, and indeed quite abject and distressing one; what we might call, the dismal science
My research career has been devoted to understanding human decision-making and problem-solving processes. The pursuit of this goal has led me into the fields of political science, economics, cognitive psychology, computer science and philosophy of science, among others.
It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.
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.
The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.
It is clear that economics, if it is to be a science at all, must be a mathematical science.
Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.
Science coverage could be improved by the recognition that science is timeless, and therefore science stories should not need to be pegged to an item in the news.
Economics is a social science, not a physical science.
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