A Quote by Ronald Reagan

Economists are people who wonder if what works in reality can also work in theory. — © Ronald Reagan
Economists are people who wonder if what works in reality can also work in theory.
You know economists; they're the sort of people who see something works in practice and wonder if it would work in theory.
After preliminary work by a number of other distinguished mathematicians and economists, game theory as a systematic theory started with von Neumann and Morgenstern's book, 'Theory of Games and Economic Behavior,' published in 1944.
I am pragmatic. That which works, works, and theory can go screw itself. However, my pragmatism also extends to maintainability, which is why I also want it done well.
There is a history of mathematical models of oligopolistic competition dating from Cournot to the theory of games. There is also a literature generated by institutional economists, lawyers, and administrators interested in formulating and implementing public policy. It has been the tendency of these groups to work almost as though the other did not exist.
If what we regard as real depends on our theory, how can we make reality the basis of our philosophy? But we cannot distinguish what is real about the universe without a theory. It makes no sense to ask if it corresponds to reality, because we do not know what reality is independent of a theory.
Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.
At least 90 percent of my work is in situ. For me, it's not only to work with the architecture and space, it's also to work with the time, to work with the people who are involved with the place. It's also dealing with history. It takes all this into account. Other works can be placed in different environments, but they always follow a rule. This is usually not the case for work in situ, because even if they are transported, they remain there forever or they are destroyed.
Marches work, rallies work, civil disobedience works, direct action works, voting works, writing letters works, speaking to churches and schools works, rioting works.
We have to be emotionally intelligent. It also means that what works one day may not work the next or what works for one group of people many not work for another. I love managerial leadership because it is dynamic. The implication is that we have to stay curious about what compels, what motivates, what inspires, what relates, and what energizes.
The obstacles facing academic economists are formidable, for tenure and professional advancement still depend to a large extent on a willingness to comply with and to work within the tenets of orthodox theory.
If one works well in a potato field, the potatoes will grow. If one works well among people, they will grow - that's reality. It's important to know that words don't move mountains. Work, exacting work moves mountains.
The Western approach to reality is mostly through theory, and theory begins by denying reality - to talk about reality, to go around reality, to catch anything that attracts our sense-intellect and abstract it away from reality itself. Thus philosophy begins by saying that the outside world is not a basic fact, that its existence can be doubted and that every proposition in which the reality of the outside world is affirmed is not an evident proposition but one that needs to be divided, dissected and analyzed. It is to stand consciously aside and try to square a circle.
I was never a prisoner of any theory. What guided me were reason and reality. The acid test I applied to every theory or scheme was: Would it work? The acid test is in performance, not promises. It is not from weakness that one commands respect. As long as the leaders take care of their people, they will obey the leaders.
Also, most people read fiction as an escape - and I wonder whether my books aren't a bit too grounded in reality to reach the widest possible audience.
I really don't like art where you need to know so much theory to understand. If the theory is removed, it doesn't do anything. That means that this work is an illustration of theory, and I don't believe in the power of the work itself.
I don't believe people who think dreams aren't reality nor will they ever be. We follow that theory of making it a reality.
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