A Quote by Ronald Reagan

You know economists; they're the sort of people who see something works in practice and wonder if it would work in theory. — © Ronald Reagan
You know economists; they're the sort of people who see something works in practice and wonder if it would work in theory.
Economists are people who wonder if what works in reality can also work in theory.
Theory is knowledge that doesn't work. Practice is when everything works and you don't know why.
How do we know if our practice is a real practice? Only by one thing: more and more, we just see the wonder. What is the wonder? I don't know. We can't know such things through thinking. But we always know it when it's there.
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 believe without exception that theory follows practice. Whenever there is a conflict between theory and practice, theory is wrong. As far as I'm concerned, we make theories for what people have done.
There is a distinction, but no opposition, between theory and practice. Each to a certain extent supposes the other. Theory is dependent on practice; practice must have preceded theory.
Theory without practice is of little value, whereas practice is the proof of theory.Theory is the knowledge, practice the ability.
Here I find a puzzle of great beauty: Canada works well in practice, but just doesn't work out in theory.
We see many persons talking the most wonderfully fine things about charity and about equality and the rights of other people and all that, but it is only in theory. I was so fortunate as to find one who was able to carry theory into practice. He had the most wonderful faculty of carrying everything into practice which he thought was right.
If the theory accurately predicts what they [scientists] see, it confirms that it's a good theory. If they see something that the theory didn't lead them to believe, that's what Thomas Kuhn calls an anomaly. The anomaly requires a revised theory - and you just keep going through the cycle, making a better theory.
In theory, practice should work like theory. In practice, it doesn't.
In sum: banking theory and practice, as immobilizing and fixating forces, fail to acknowledge men and women as historical beings; problem-posing theory and practice take the people's historicity as their starting point.
That's the trouble with the conventional doctors. They always say, 'How does it work?' but often there isn't any neat little answer...Something simply works...We don't really know how it works. We say we do. We know one or two things we can see and measure.
I see the God complex around me all the time in my fellow economists. I see it in our business leaders. I see it in the politicians we vote for - people who, in the face of an incredibly complicated world, are nevertheless absolutely convinced that they understand the way that the world works.
I know you've heard it a thousand times before. But it's true - hard work pays off. If you want to be good, you have to practice, practice, practice. If you don't love something, then don't do it.
Practice, practice, practice. Practice until you get a guitar welt on your chest...if it makes you feel good, don't stop until you see the blood from your fingers. Then you'll know you're on to something!
This site uses cookies to ensure you get the best experience. More info...
Got it!