“There is really nothing more pathetic than to have an economist or a retired engineer try to force analogies between the concepts of physics and the concepts of economics.”

— Paul A. Samuelson

Source: 1950s–1970s, Maximum Principles in Analytical Economics, 1970, p. 69
Context: There is really nothing more pathetic than to have an economist or a retired engineer try to force analogies between the concepts of physics and the concepts of economics. How many dreary papers have I had to referee in which the author is looking for something that corresponds to entropy or to one or another form of energy. Nonsensical laws, such as the law of conservation of purchasing power, represent spurious social science imitations of the important physical law of the conservation of energy; and when an economist makes reference to a Heisenberg Principle of indeterminacy in the social world, at best this must be regarded as a figure of speech or a play on words, rather than a valid application of the relations of quantum mechanics.

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Paul A. Samuelson47

American economist 1915–2009

Francis Sears (1898–1975) American physicist

[Francis Weston Sears, Mechanics, heat and sound, Addison-Wesley principles of physics series Volume 1, 2nd Edition, Addison-Wesley Press, 1950, 447]

“Software Engineering Economics is an invaluable guide to determining software costs, applying the fundamental concepts of microeconomics to software engineering, and utilizing economic analysis in software engineering decision making.”

Barry Boehm (1935) American software engineer

Barry W. Boehm (1981) Software engineering economics. Abstract.

“The concept of 'measurement' becomes so fuzzy on reflection that it is quite surprising to have it appearing in physical theory at the most fundamental level… does not any analysis of measurement require concepts more fundamental than measurement? And should not the fundamental theory be about these more fundamental concepts?”

John S. Bell (1928–1990) Northern Irish physicist

"Quantum Mechanics for Cosmologists" (1981); published in Quantum Gravity (1981) edited by Christopher Isham, Roger Penrose and Dennis William Sciama, p. 611 - 637

“It is possible that the major collaboration between economists and engineers is still to come, in the greater use of physical analogues and computers of the analogue type to avoid the difficulties of calculation. Apart from their major use as possible tools for economic regulation, physical analogues have a subsidiary use, for there are students of economics, as there are many students of engineering, who can better understand the significance of the somewhat formidable mathematics that tends to be used in this field, if they can first acquaint themselves with the types of behaviour in question as exhibited by physical objects that can be seen, felt, handled and experimented with. It may also be suggested that economists may find that what they have to say about economic policy will be very readily assimilated by one group of attentive pupils, namely the scientists, engineers and technicians of industry, if explanatory notions can be drawn from the theory of automatic control, which is now part of a normal engineering education. The aim of this essay has been to give explanations of system behaviour, and some approaches to its analysis, using geometrical construction and physical analogy where possible to clarify the implications of the more usual formal algebraic approach.”

Arnold Tustin (1899–1994) British engineer

Source: The Mechanism of Economic Systems (1953), p. 2

“Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.”

Kim Stanley Robinson (1952) American science fiction writer

Source: Blue Mars (1996), Chapter 2, “Areophany” (p. 80)

“The concept of need is often looked upon rather unfavorably by economists, in contrast with the concept of demand. Both, however, have their own strengths and weaknesses. The need concept is criticized as being too mechanical, as denying the autonomy and individuality of the human person, and as implying that the human being is a machine which "needs" fuel in the shape of food, engine dope in the shape of medicine, and spare parts provided by the surgeon.”

Kenneth E. Boulding (1910–1993) British-American economist

Kenneth Boulding (1967) "The Concept of Need for Health Services" in: The Milbank Memorial Fund Quarterly. Vol. 44, No. 4, Part 2, pp. 202
1960s

“We must be clear that whatever we say of God in such human concepts can never be more than an indication of Him; no such concept can really conceive the nature of God. God is inconceivable.”

Karl Barth (1886–1968) Swiss Protestant theologian

Dogmatics in Outline (1949)
Context: When attempts were later made to speak systematically about God and to describe His nature, men became more talkative. They spoke of God's aseity, His being grounded in Himself; they spoke of God's infinity in space and time, and therefore of God's eternity. And men spoke on the other hand of God's holiness and righteousness, mercifulness and patience. We must be clear that whatever we say of God in such human concepts can never be more than an indication of Him; no such concept can really conceive the nature of God. God is inconceivable. <!-- p. 46

“Most people who haven't been trained in physics probably think of what physicists do as a question of incredibly complicated calculations, but that's not really the essence of it. The essence of it is that physics is about concepts, wanting to understand the concepts, the principles by which the world works.”

Edward Witten (1951) American theoretical physicist

"Edward Witten" interview, Superstrings: A Theory of Everything? (1992) ed. P.C.W. Davies, Julian Brown

“[S]ocialism’s durability as a concept owes almost nothing to economics and almost everything to the desire for power…”

Jonah Goldberg (1969) American political writer and pundit

2010s, 2018, Socialism is So Hot Right Now (2018)

“Methods by which engineers stabilise their mechanisms suggest analogous possibilities for stabilising economic systems.”

Arnold Tustin (1899–1994) British engineer

Arnold Tustin (1957) " The mechanism of economic instability http://books.google.com/books?id=Nou8mkjPMPUC&pg=PA8" in: New Scientist, Oct. 27, 1957. p. 8

“There is really nothing more pathetic than to have an economist or a retired engineer try to force analogies between the concepts of physics and the concepts of economics.”

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Paul A. Samuelson47

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