Even if the constants which economists wish to determine were less numerous, and the method of experiment more accessible, we should still be faced with the fact that the constants themselves are different at different times. The gravitation constant is the same always. But the economic constants — these elasticities of demand and supply — depending, as they do, upon human consciousness, are liable to vary. The constitution of the atom, as it were, and not merely its position, changes under the influence of environment.
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Part I : Welfare and the National Dividend, Ch. 1 : Welfare and Economic Welfare, § 4Arthur Cecil Pigou
» Arthur Cecil Pigou - all quotes »
Pure Mathematics is the class of all propositions of the form “p implies q,” where p and q are propositions containing one or more variables, the same in the two propositions, and neither p nor q contains any constants except logical constants. And logical constants are all notions definable in terms of the following: Implication, the relation of a term to a class of which it is a member, the notion of such that, the notion of relation, and such further notions as may be involved in the general notion of propositions of the above form. In addition to these, mathematics uses a notion which is not a constituent of the propositions which it considers, namely the notion of truth.
Bertrand Russell
There are three constants in life…change, choice and principles.
Stephen Covey
Allow me to define more specifically the inherent limitations of our numerical knowledge which are so often overlooked. I want to do this to avoid giving the impression that I generally reject the mathematical method in economics. I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation. We could scarcely have achieved that comprehensive picture of the mutual interdependencies of the different events in a market without this algebraic technique. It has led to the illusion, however, that we can use this technique for the determination and prediction of the numerical values of those magnitudes; and this has led to a vain search for quantitative or numerical constants.
Friedrich Hayek
Euler and Ramanujan are mathematicians of the greatest importance in the history of constants (and of course in the history of Mathematics ...)
Leonhard Euler
Very soon I discovered that if one gets a feeling for no more than a dozen other radiation and nuclear constants, one can imagine the subatomic world almost tangibly, and manipulate the picture dimensionally and qualitatively, before calculating more precise relationships.
Stanislaw Ulam
Pigou, Arthur Cecil
Pike, Albert
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