A Quote by Simon Newcomb
My first undertaking in the way of scientific experiment was in the field of economics and psychology.
Quote Topics
Quote Author
Related Quotes
How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
I've been a faithful reader of the great classical documents of economics, or tried to be. The first book in the field that I ever read was Principles of Economics by Alfred Marshall. I suppose subsequently I would have to pick out Keynes, Adam Smith, Marx.
You know how it is when you go to be the subject of a psychology experiment and nobody else shows up and you think maybe that's part of the experiment? I'm like that all the time.
The test of all knowledge is experiment. Experiment is the sole judge of scientific truth.
The best scientific way to discover if one factor influences another is to do a controlled experiment.
Intelligence is important in psychology for two reasons. First, it is one of the most scientifically developed corners of the subject, giving the student as complete a view as is possible anywhere of the way scientific method can be applied to psychological problems. Secondly, it is of immense practical importance, educationally, socially, and in regard to physiology and genetics.
Investing is the intersection of economics and psychology. The analysis is actually the easy part. The economics, the valuation of the business isn't that hard. The psychology - how much do you buy, do you buy it at this price, do you wait for a lower price, what do you do when it looks like the world might end - those things are harder. Knowing whether you stand there, buy more, or whether something has legitimately gone wrong and you need to sell, those are harder things. That you learn with experience, by having the right psychological makeup.
Psychology more than any other science has had its pseudo-scientific no less than its scientific period.
An Experiment, like every other event which takes place, is a natural phenomenon; but in a Scientific Experiment the circumstances are so arranged that the relations between a particular set of phenomena may be studied to the best advantage.
When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the mainstream economics and why most of the economics that justifies austerity programs and economic shrinkage is in the textbooks is not scientific. Junk economics denies the role of debt and denies the fact that the economic system we have now is dysfunctional.
The principle of science, the definition, almost, is the following: The test of all knowledge is experiment. Experiment is the sole judge of scientific "truth." But what is the source of knowledge? Where do the laws that are to be tested come from? Experiment, itself, helps to produce these laws, in the sense that it gives us hints. But also needed is imagination to create from these hints the great generalizations--to guess at the wonderful, simple, but very strange patterns beneath them all, and then to experiment to check again whether we have made the right guess.
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.'
A large part of the popularity and persuasiveness of psychology comes from its being a sublimated spiritualism: a secular, ostensibly scientific way of affirming the primacy of "spirit" over matter.
It is high time that laymen abandoned the misleading belief that scientific enquiry is a cold dispassionate enterprise, bleached of imaginative qualities, and that a scientist is a man who turns the handle of discovery; for at every level of endeavour scientific research is a passionate undertaking and the Promotion of Natural Knowledge depends above all on a sortee into what can be imagined but is not yet known.
Unless the fundamental categories of economics such as 'property' were to be redefined in a radically personal way the liberal rationalist curse which had established economics as a scientific discipline cut off from human interests would proliferate. Economic models ... have failed to incorporate any meaningful index of individual benefit other than the original utilitarian one, ... the index of increasing income or an increasing flow of commodities.
Related Authors
Ada Lovelace Quotes
English
Mathematician
Alfred North Whitehead Quotes
English
Mathematician
Benoit Mandelbrot Quotes
French
Mathematician
Carl Friedrich Gauss Quotes
German
Mathematician
Charles Babbage Quotes
English
Mathematician
David Hilbert Quotes
German
Mathematician
G. H. Hardy Quotes
British
Mathematician
George Polya Quotes
Hungarian
Mathematician
Hannah Fry Quotes
English
Mathematician
Henri Poincare Quotes
French
Mathematician
Isaac Barrow Quotes
English
Mathematician
Isaac Newton Quotes
English
Mathematician
Norbert Wiener Quotes
American
Mathematician
Pythagoras Quotes
Greek
Mathematician
Rene Descartes Quotes
French
Mathematician
Seymour Papert Quotes
American
Mathematician