“Early in my professional life, I found that many areas of economics attracted me. I started working and publishing in price theory by 1938. In 1946, I published an early work on linear programming (The Cost of Subsistence) which solved the problem only approximately; George Dantzig soon presented the exact solution. In the 1940s, I began empirical work on price theory, starting with a test of the kinked oligopoly demand curve theory of rigid prices.”

"George J. Stigler - Biographical," 1982

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George Stigler20

American economist 1911–1991

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“I can date my own personal 'revolution' rather exactly to May or June 1933. It was like this. It began… with Hayek. His "Prices and Production" is one of the influences that can be detected in The Theory of Wages; it could not have been otherwise, for 1931 was a Prices and Production year at the London School of Economics… I did not in fact find it all easy to fit in with my own ideas. What started me off in 1933 was an earlier work of Hayek's, his paper on 'Intertemporal Equilibrium', an idea which I found easier to reduce to my preferred (Paretian or Wicksellian) pattern.”

John Hicks (1904–1989) British economist

John Hicks, The Theory of Wages, 2nd Edition (1963), p. 307

“A work of art that contains theories is like an object on which the price tag has been left.”

Alexander Pope (1688–1744) eighteenth century English poet

Une oeuvre où il y a des théories est comme un objet sur lequel on laisse la marque du prix. <br class="br">Marcel Proust, In Search of Lost Time, part VII: Time Regained, chapter III, "An Afternoon Party at the House of the Princesse de Guermantes" ( French version http://web.archive.org/web/20010708070436/http://gallica.bnf.fr/proust/TempsRetrouve.htm and English translation http://etext.library.adelaide.edu.au/p/proust/marcel/p96t/chapter3.html). <br class="br">Misattributed

“The time component of economic production became vital in Hayek’s work in economic theory. Essentially, his economic work could be said to rest on the idea that the price system is a method for coordinating economic activity through time.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)

“When Keynes’s General Theory was published in February 1936, it obliterated all else on the scene in academic economics. Hayek was known to be working on a treatise on capital as Keynes’s work was published (the work that became The Pure Theory of Capital). While there was some anticipation in academia for this forthcoming major work, interest even by economists in Hayek’s work waned.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)

“All such problems can be formulated as mathematical programming problems. Naturally, we can propose many sophisticated algorithms and a theory but the final test of a theory is its capacity to solve the problems which originated it.”

George Dantzig (1914–2005) American mathematician

Source: Linear programming and extensions (1963), p. vii.

“Much of my work has come from being lazy. I didn't like writing programs, and so, when I was working on the IBM 701 (an early computer), writing programs for computing missile trajectories, I started work on a programming system to make it easier to write programs.”

John Backus (1924–2007) American computer scientist

Quoted in the IBM employee magazine Think in 1979. Cited by his Associated Press obituary http://www.msnbc.msn.com/id/17704662/

“Theory should be ever more demanding of our empirical resources. Simultaneously, data should be ever more demanding of the empirical relevance of theory and of the theorist's expertise in working imaginatively on problems of the world, rather than on stylized problems of the imagination.”

Vernon L. Smith (1927) American economist

Source: "Theory, experiment and economics," 1989, p. 168.

“We must move toward a soundly based and widely distributed economic well-being. This is the 'theory of plenty' as distinguished from the 'theory of scarcity' which has dominated our recent economic thinking and politics. Our yardstick, according to my thinking, I consists of the most effective balance between the following: First, the reduction in the real costs and selling! prices of goods and services; second, a more economic balance of national income through policies affecting wages, hours, prices and profits.”

Alfred P. Sloan (1875–1966) American businessman

Cited in: Charles Cullen Chapman (1936), The development of American business and banking thought, 1913-1936. p. 265
New York Times interview, 1935

“Analysis of the mathematical form and underlying principles of games was made by von Neumann " as early as 1928. In this early work von Neumann was not so much interested in executive-type problems as he was in the logical foundations of quantum mechanics. It was not until 1944, when von Neumann and Morgenstern published their now well known Theory of Games and Economic Behavior, that the mathematical treatment of games "took fire."”

C. West Churchman (1913–2004) American philosopher and systems scientist

Source: 1940s - 1950s, Introduction to Operations Research (1957), p. 519: Partly cited in: E. Roy Weintraub (1992) Toward a history of game theory. p. 235

“I would suggest to you the advantage, at present, of being very sparing in introducing theory in your papers (I formerly erred much in Geology in that way): let theory guide your observations, but till your reputation is well established be sparing in publishing theory. It makes persons doubt your observations. How rarely R. Brown ever indulged in theory: too seldom perhaps! Do not work too hard, and do not be discouraged because your work is not appreciated by the majority.”

Charles Darwin book More Letters of Charles Darwin

Letter to John Scott, quoted in More Letters of Charles Darwin: A Record of His Work in a Series of Hitherto Unpublished Letters http://books.google.com/books?id=8FXwAAAAMAAJ&, volume 2, page 323 (1903) <br class="br">Other letters, notebooks, journal articles, recollected statements

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