A Quote by Sanjaya Baru
Like war, economics is more an art than a science.
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Despite its scientific
pretensions, economics still remains more of an art than a science
There are two avenues from the little passions and the drear calamities of earth; both lead to the heaven and away from hell-Art and Science. But art is more godlike than science; science discovers, art creates.
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.
We judge economics by what it can produce. As such, economics is rather more like engineering than physics: more practical than spiritual.
When the nations of the world look upon the United States, they see a country which has achieved what they would all like to become one day. Whether it is in the field of science, art, music, agriculture, politics, economics or war, the United States is the leader.
Gradually, ... the aspect of science as knowledge is being thrust into the background by the aspect of science as the power of manipulating nature. It is because science gives us the power of manipulating nature that it has more social importance than art. Science as the pursuit of truth is the equal, but not the superior, of art. Science as a technique, though it may have little intrinsic value, has a practical importance to which art cannot aspire.
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.
Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.
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.
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.
Before a war military science seems a real science, like astronomy; but after a war it seems more like astrology.
Economics has increasingly become the science of human behavior in general, and it's all the more unlikely to think that it can possibly be value-free - and, in fact, it isn't. Economics rests on un-argued assumptions that need to be examined.
My war - and I have yet to win a decisive battle - is with the modes of thought that and conditioned feelings that prevail in psychology and therefore also in the way we think and feel about our being. Of these conditions none are more tyrannical than the convictions that clamp the mind and heart into positivistic science (geneticism and computerism), economics (bottom-line capitalism), and single-minded faith (fundamentalism).
Art transcends war. Art is the language of God and war is the barking of men. Beethoven is bigger than war.
I feel like there's lot of people who know finance and economics better than I do. There are lots of people who are better storytellers than I am. But the space that I occupy of storytelling about finance and economics is - more people want it than can do it.
There's a snobbery at work in architecture. The subject is too often treated as a fine art, delicately wrapped in mumbo-jumbo. In reality, it's an all-embracing discipline taking in science, art, maths, engineering, climate, nature, politics, economics.
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