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What makes a piece of mathematical economics not only mathematics but also economics is, I believe, this: When we set up a system of theoretical relationships and use economic names for the otherwise purely theoretical variables involved, we have in mind some actual experiment, or some design of an experiment, which we could at least imagine arranging, in order to measure those quantities in real economic life that we think might obey the laws imposed on their theoretical namesakes.
Trygve Haavelmo
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Wars and elections are both too big and too small to matter in the long run. The daily work—that goes on, it adds up.
Barbara Kingsolver
Trygve Haavelmo
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Born:
December 13, 1911
Died:
July 26, 1999
(aged 87)
Bio:
Trygve Magnus Haavelmo, born in Skedsmo, Norway, was an influential economist with main research interests centered on the fields of econometrics.
Trygve Haavelmo on Wikipedia
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