Academy Quote by Adam Davidson

Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry, the more…

— Ha-Joon Chang

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade…

— Charlie Munger

So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.

— Charlie Munger

...even professors of economics, to say nothing of the public, do not generally have scientific minds.

— Frank Knight

“Economists are all too often preoccupied with petty mathematical problems of interest only to themselves. This obsession with mathematics is an easy way of…

— Thomas Piketty

Physicists can only talk to other physicists and economists to economists... sociologists often cannot even understand each other.

— Kenneth E. Boulding

For far too long economists have sought to define themselves in terms of their supposedly scientific methods. In fact, those methods rely on an…

— Thomas Piketty

Economics has never been a science - and it is even less now than a few years ago.

— Paul Samuelson

Economics never was a dismal science. It should be a realistic science.

— Paul Samuelson

That subject has lost its one time appeal to economists as our science has become more abstract, but my interest has even grown more…

— George Stigler

Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which…

— Ha-Joon Chang

We're facing a danger that economics is rigorous deduction based upon faulty assumptions. Science after science gets that way from time to time. When…

— W. Brian Arthur