A Quote by Paul Samuelson
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.
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Economics and a reliance on science and technology to solve our problems has led to an unsustainable situation where continued growth in consumption is required for governments and business to be considered successful. This is a form of insanity. Economics is at the heart of our destructive ways and our faith in it has blinded us
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.
Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree.
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.
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an "objective" science.
Our engagement through international economics, trade, these trade agreements, is vital and is linked to our national security. This is a lesson we learned from the '30s, it is a lesson we learned post-World War II, and it plays to our strengths.
I learned that economics was not an exact science and that the most erudite men would analyze the economic ills of the world and derive a totally different conclusion.
Economics is not an exact science.
I studied art history and philosophy and took economics and political science classes. I just took whatever I wanted and I didn't worry about grades and I read and learned a lot, and I didn't have much of a social life, so it was deeply absorbing.
I come back to the science that is in it to reduce our dependence on foreign oil and climate change. It's about science, science, science and science, innovation, as we rebuild America, create jobs, invest in our people and turn this economy around.
My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.
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.
Magic is a combination of art and science. It's an art because of the traditional parts of things, the graceful gestures, the sonorous invocations, the use of colour, sight, sound, all of these things make it very much an art form. Yet it is also a science as well because we expect something to come of what we do. Using and creating these almost dreamlike inner landscapes in which we can live, move, and have our being.
Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.
At the beginning of my sophomore year at Princeton University, I took my first economics course; our textbook was the first edition of Samuelson's 'Economics: An Introductory Analysis.'
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