“If we are to use effectively these abstract models and this descriptive material, we must have a comparable exploration of the criteria for determining what abstract model it is best to use for particular kinds of problems, what entities in the abstract model are to be identified with what observable entities, and what features of the problem or of the circumstances have the greatest effect on the accuracy of the predictions yielded by a particular model or theory.”

—  Milton Friedman

"The Methodology of Positive Economics" (1953)

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Milton Friedman158
American economist, statistician, and writer 1912–2006

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