Conclusion Quote by Piero Sraffa

Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with…

— John Maynard Keynes

Economists often like startling theorems, results which seem to run counter to conventional wisdom.

— Joseph Stiglitz

Do not say hypothesis, and even less theory: say way of thinking.

— Georg C. Lichtenberg

Economics is haunted by more fallacies than any other study known to man

— Henry Hazlitt

Unlike physics, economists don't settle things. There seems to be plenty of room for different conclusions that are still accepted in the academy.

— Adam Davidson

Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.

— William Stanley Jevons

Much of economics isn't difficult, or rather, the difficulty is in cooking up arguments to "prove" that commonsense conclusions are wrong. The fact is…

— Jerry Pournelle

Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused.

— Ha-Joon Chang

This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.

— Paul Krugman

Economists are people who wonder if what works in reality can also work in theory.

— Ronald Reagan

“Simpler theories may be more convenient to work with, but they are not intrinsically more probable than complex ones.”

— Samir Okasha

When that theory is isolated from known facts, it is likely not to be productive.

— Patricia Churchland