The Marxist theory of history, in spite of the serious efforts of some of its founders and followers, ultimately adopted this soothsaying practice [of evading testability]. In some of its earlier formulations (for example in Marx's analysis of the character of the 'coming social revolution') their predictions were testable, and in fact falsified. Yet instead of accepting the refutations the followers of Marx re-interpreted both the theory and the evidence in order to make them agree. In this way they rescued the theory from refutation; but they did so at the price of adopting a device which made it irrefutable. They thus gave a 'conventionalist twist' to the theory; and by this stratagem they destroyed its much advertised claim to scientific status.
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Karl Popper (2002). Conjectures and Refutations: The Growth of Scientific Knowledge. Routledge. p. 49. ISBN 0-415-28594-1.Karl Marx
Any physical theory is always provisional, in the sense that it is only a hypothesis: you can never prove it. No matter how many times the results of experiments agree with some theory, you can never be sure that the next time the result will not contradict the theory. On the other hand, you can disprove a theory by finding even a single observation that disagrees with the predictions of the theory. As philosopher of science Karl Popper has emphasized, a good theory is characterized by the fact that it makes a number of predictions that could in principle be disproved or falsified by observation. Each time new experiments are observed to agree with the predictions the theory survives, and our confidence in it is increased; but if ever a new observation is found to disagree, we have to abandon or modify the theory.
Stephen Hawking
The Steady State theory was what Karl Popper would call a good scientific theory: it made definite predictions, which could be tested by observation, and possibly falsified. Unfortunately for the theory, they were falsified.
Stephen Hawking
The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value.They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.
Eric Roll
Jurgen Habermas is widely considered as the most influential thinker in Germany over the past decade. As a philosopher and sociologist he has mastered and creatively articulated an extraordinary range of specialized literature in the social sciences, social theory and the history of ideas in the development of a comprehensive and provocative critical theory of knowledge and human interests. His roots are in the tradition of German thought from Kant to Marx, and he has been associated with the Frankfurt School of critical theorists which pioneered in the study of the relationship of the ideas of Marx and Freud.
Jurgen Habermas‎
It is probable that when future historians of economic thought look back over this century, the thirties will appear as an era of rapid development in economic theory. Not only has there been unusual activity in monetary theory, theory of value. but extensive transformations have also been made in the basic theory of value. The outstanding publications in this field are, of course, Joan Robinson's Theory of Imperfect Competition and Chamberlin's Theory of Monopolistic Competition, the first produced in Cambridge, England, and the second in Cambridge, Massachusetts. These volumes mark the explicit recognition of the theory of the firm as an integral division of economic analysis upon which rests the whole fabric of equilibrium theory. General equilibrium is nothing more than the problem of the interaction of individual economic organisms, under various conditions and assumptions; as a necessary preliminary to its solution, an adequate theory of the individual organism itself is necessary.
Kenneth Boulding
Marx, Karl
Mary (mother of Jesus)
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