Home / Quotes / Quote by Milton Friedman

Quote by Milton Friedman

“Economics has become increasingly an arcane branch of mathematics rather than dealing with real economic problems.”

Author

Milton Friedman was a renowned economist known for his contributions to the field of free-market economics. His research in monetary economics, consumer behavior, and tax policy has had a profound impact. more

“Modern economics is sick. Economics has increasingly become an intellectual game played for its own sake and not for its practical consequences for understanding the economic world. Economists have converted the subject into a sort of social mathematics in which analytical rigour is everything and practical relevance is nothing.”

World Games Social Understanding Economic Modern Subjects Intellectual Consequence Economics Sick Mathematics Sake Practicals Economist Relevance Rigour

Author:Mark Blaug

“For far too long economists have sought to define themselves in terms of their supposedly scientific methods. In fact, those methods rely on an immoderate use of mathematical models, which are frequently no more than an excuse for occupying the terrain and masking the vacuity of the content.”

Long Facts Use Term Models Economics Method Excuse Mathematical Rely Economist Scientific Method Terrain Vacuity Mathematical Models

Author:Thomas Piketty

“In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.”

May Said Modern Youth Economics Mathematics Silly

Author:Ronald Coase

“Any man who is only an economist is unlikely to be a good one.”

Men Economics Economist Unlikely

Author:Friedrich August von Hayek

“The study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences.”

Has Beens Ideas Study Economics Patterns Vain Again And Again

Book:The Ultimate Foundation of Economic Science: An Essay on Method

Source: The Ultimate Foundation of Economic Science: An Essay on Method

“The use of mathematics has brought rigor to economics. Unfortunately, it has also brought mortis.”

Use Economics Mathematics Rigor Rigor Mortis

Author:Robert Heilbroner

“When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite.”

Mean One Thing Theory Evidence Economics Opposites Data Economist

Author:Richard Thaler

“Love is love! People should be able to do whatever makes them happy!”

People Should Able Love Is Gay Gay Marriage

Author:Britney Spears

“Everyone has the right to be happy and be treated equally and I think not allowing gay marriage just kind of puts us back. I believe you're in love with who you're in love with, and you should be able to marry them. No one should tell someone else how to think or how to feel.”

Thinking Feels Should Believe Kind Able I Believe Gay Treated Allowing Gay Marriage

Author:Kim Kardashian

“I believe everyone on this planet deserves equal rights to their own pursuit of happiness.”

Believe I Believe Rights Planets Gay Equal Deserve Pursuit Equal Rights Gay Marriage Pursuit Of Happiness

Author:Joel Madden

Quote by Milton Friedman

Author

You May Also Like