I am convinced that it is impossible to expound the methods of induction in a sound manner, without resting them upon the theory of probability. Perfect knowledge alone can give certainty, and in nature perfect knowledge would be infinite knowledge, which is clearly beyond our capacities. We have, therefore, to content ourselves with partial knowledge - knowledge mingled with ignorance, producing doubt.

As a general rule, it is foolish to do just what other people are doing, because there are almost sure to be too many people doing the same thing.

It is clear that economics, if it is to be a science at all, must be a mathematical science.

Science arises from the discovery of Identity amid Diversity.

Many persons entertain a prejudice against mathematical language, arising out of a confusion between the ideas of a mathematical science and an exact science. ...in reality, there is no such thing as an exact science.

Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.

I am convinced that it is impossible to expound the methods of induction in a sound manner, without resting them upon the theory of probability. Perfect knowledge alone can give certainty, and in nature perfect knowledge would be infinite knowledge, which is clearly beyond our capacities. We have, therefore, to content ourselves with partial knowledge - knowledge mingled with ignorance, producing doubt.