Economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.
Kenneth E. BouldingIt is clear that the building of models is not a purely mechanical process but requires skill of a high order - not merely mathematical skill but a sensitivity to the relative importance of different factors and a critical, almost an artistic, faculty in the selection of behaviour equations which are reasonable, tentative hypotheses in explaining the behaviour of actual economies.
Kenneth E. BouldingProduction functions involving only land, labor and capital... never work and never explain economic development.
Kenneth E. BouldingThe trouble with taxonomic boxes is... that that they tend to be empty, however beautiful they are on the outside.
Kenneth E. BouldingOne advantage of exhibiting a hierarchy of systems in this way is that it gives us some idea of the present gaps in both theoretical and empirical knowledge. Adequate theoretical models extend up to about the fourth level, and not much beyond. Empirical knowledge is deficient at practically all levels.
Kenneth E. Boulding