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Maurice Allais Quotes

Maurice Félix Charles Allais was a French physicist and economist, the 1988 winner of the Nobel Memorial Prize in Economic Sciences "for his pioneering contributions to the theory of markets and efficient utilization of resources", for Maurice Allais contribution, along with John Hicks and Paul Samuelson , to neoclassical synthesis. They formalize the self-regulation of markets, that Keynes refuted, while reiterating some of his ideas.

Born in Paris, France, Allais attended the Lycée Lakanal, graduated from the École Polytechnique in Paris and studied at the École nationale supérieure des mines de Paris. His academic and other posts have included being Professor of Economics at the École Nationale Supérieure des Mines de Paris and Director of its Economic Analysis Centre . In 1949, he received the title of doctor-engineer from the University of Paris, Faculty of Science. He also held teaching positions at various institutions, including at the University of Paris X-Nanterre. His first works oriented him towards the sciences of the concrete and the experiments of fundamental physics, on which he will also publish numerous works, notably on pendular oscillations and the laws of gravitation. It's after a trip in 1933 to the United States during the Great Depression, that he decides to make the economy. Allais died at his home in Saint-Cloud, near Paris, at the age of 99.Allais considered Leon Walras, Wilfredo Pareto, and Irving Fisher to be his primary influences. He was reluctant to write in or translate his work into English, and many of his major contributions became known to the dominant community only when they were independently rediscovered or popularized by English-speaking economists. At the same time, he claimed Keynes's liberalism and declared himself in favor of an important public sector. Allais attended the inaugural meeting of the Mont Pelerin Society, but he was alone among the attendees to refuse to sign the statement of aims because of a disagreement over the extent of property rights. He exerted an important influence, at the end of the war, on French economists such as Gérard Debreu, Jacques Lesourne, Edmond Malinvaud and Marcel Boiteux.

Paul Samuelson said "Had Allais earliest writings been in English, a generation of economic theory would have taken a different course", and felt the Nobel Prize should have been awarded to him much earlier. Assar Lindbeck, the chairman of the selection committee considered Allais as "a giant within the world of economic analysis". Wikipedia  

✵ 31. May 1911 – 9. October 2010
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Maurice Allais: 7   quotes 0   likes

Famous Maurice Allais Quotes

“In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property.”

Maurice Allais

[Maurice Allais, La Crise mondiale d’aujourd’hui. Pour de profondes réformes des institutions financières et monétaires, Editions Clément Juglar, Paris, 1999, 74, 2-908735-11-3]

“Too many theorists have a tendency to ignore facts that contradict their convictions.”

Maurice Allais

[Maurice Allais, L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience, Editions Clément Juglar, Paris, 1997, 640, 2-908735-09-1]
Original: L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience.

“Any author who uses mathematics should always express in ordinary language the meaning of the assumptions he admits”

Maurice Allais

in La formation scientifique, Une communication du Prix Nobel d’économie, Maurice Allais http://www.canalacademie.com/Maurice-Allais-la-formation.html, address to the Académie des Sciences Morales et Politiques (1997).
Context: Any author who uses mathematics should always express in ordinary language the meaning of the assumptions he admits, as well as the significance of the results obtained. The more abstract his theory, the more imperative this obligation.
In fact, mathematics are and can only be a tool to explore reality. In this exploration, mathematics do not constitute an end in itself, they are and can only be a means.

“A theory is only as good as its assumptions.”

Maurice Allais

If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience.
[Maurice Allais, L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience, Editions Clément Juglar, Paris, 1997, 591, 2-908735-09-1]

“Submission to the experimental data is the golden rule that dominates any scientific discipline.”

Maurice Allais

La soumission aux données de l'expérience est la règle d'or qui domine toute discipline scientifique.
in his speech when he was awarded the Academician sword, address to the Académie des Sciences Morales et Politiques (October 19, 1993).

“Anyone who dares to speak about an aether is regarded as an ignorant and backward mind and he can only lose his credibility in scientific circles, although in reality those who criticize him use the same concept of intermediate medium in other words, whether it be fields, an associated fluid, a probability fluid, a pilot fluid, a quantum fluid, etc.”

Maurice Allais

[Maurice Allais, L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience, Editions Clément Juglar, Paris, 1997, 506, 2-908735-09-1]

“A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience.”

Maurice Allais

L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience (1997), p. 591

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