Behaviour Quote by Murray Rothbard

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 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…

— Julian Baggini

I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy and dynamic…

— Myron Scholes

Whatever may be the distribution of uncertainty among economists, the public only gets to hear from those who have certain opinions.

— Herbert Stein

“For far too long, economists have neglected the distribution of wealth, partly because of Kuznets’s optimistic conclusions and partly because of the profession’s undue…

— Thomas Piketty

Every economy is uncertain. Referring to this or any economy as 'uncertain' is an unnecessary and pessimistic redundancy.

— Bo Bennett

Modern economics is sick. Economics has increasingly become an intellectual game played for its own sake and not for its practical consequences for understanding…

— Mark Blaug

“The uncertainty principle signaled an end to Laplace's dream of a theory of science, a model of the universe that would be completely deterministic.…

— Stephen Hawking

We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict…

— Nassim Nicholas Taleb

Economists have the correct insight that economics is a theory of choice, the key to the story is the variety of options and centralised…

— Douglass North

We chose to do this work mathematically, which has the advantage of precision but is not always appreciated by readers. It is perhaps for…

— Luigi Luca Cavalli-Sforza

most economists, like doctors, are reluctant to make predictions, and those who make them are seldom accurate. The economy, like the human body, is…

— Alice Rivlin