Milton Friedman
(31 Jul 1912 - 16 Nov 2006)
American economist.
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Science Quotes by Milton Friedman (1 quote)
In both social and natural sciences, the body of positive knowledge grows by the failure of a tentative hypothesis to predict phenomena the hypothesis professes to explain; by the patching up of that hypothesis until someone suggests a new hypothesis that more elegantly or simply embodies the troublesome phenomena, and so on ad infinitum. In both, experiment is sometimes possible, sometimes not (witness meteorology). In both, no experiment is ever completely controlled, and experience often offers evidence that is the equivalent of controlled experiment. In both, there is no way to have a self-contained closed system or to avoid interaction between the observer and the observed. The Gödel theorem in mathematics, the Heisenberg uncertainty principle in physics, the self-fulfilling or self-defeating prophecy in the social sciences all exemplify these limitations.
— Milton Friedman
Inflation and Unemployment (1976), 348.