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"We move from more or less plausible but really arbitrary assumptions, to elegantly demonstrated but irrelevant conclusions."

— Wassily Leontief
wassily leontief Quotes Assumption,Irrelevant,Economics

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Wassily Leontief
Assumption
Irrelevant
Economics
Arbitrary
Plausible

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For the other end of the spectrum, the 50 to 85 percent of the world's population who are not the recipients of privilege, the world they know is almost certainly worse than any their earlier counterparts knew. It is likely they are worse off materially, despite the technological changes. In substantive as opposed to formal terms, they are more, not less, subject to arbitrary constraints, since the central mechanisms are more pervasive and more efficient. And they bear the brunt of the various kinds of psychic malaise, as well as of the destructiveness of civil wars.

— Immanuel Wallerstein

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Page after page of professional economic journals are filled with mathematical formulas leading the reader from sets of more or less plausible but entirely arbitrary assumptions to precisely stated but irrelevant theoretical conclusions.

— Wassily Leontief

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