“The problem is that there is no alternative to models. We all think in simplified models, all the time. The sophisticated thing to do is not to pretend to stop, but to be self-conscious — to be aware that your models are maps rather than reality.”

— Paul Krugman

Source: Development, Geography, and Economic Theory (1995), Ch. 3. Models and Metaphors

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Paul Krugman 106

American economist 1953

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