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When it is useful to them, men can believe a theory of which they know nothing more than its name.
--
page 94

 

Vilfredo Pareto

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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

 

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

 

Third Theory.—According to this theory, there is nothing in the whole Universe... that is due to chance; everything is the result of will, intention, and rule. It is a matter of course that he who rules must know. The Mohametan Ashariyah adhere to this theory, notwithstanding evident absurdities implied in it. ...The Ashariyah were therefore compelled to assume that motion and rest of living beings are predestined, and that it is not in the power of a man to do a certain thing or to leave it undone. ...It follows also from this theory, that precepts are perfectly useless, since the people to whom any law is given... can neither do what they are commanded nor abstain from what they are forbidden. ...According to this theory, it must also be assumed that the actions of God have no final cause. All these absurdities are admitted by the Ashariyah for the purpose of saving this theory.

 

Maimonides

 

The theory is the result of listening to the problem. When the theory acquires a life of its own because some people like it more than the real world, all kinds of uninspiring, uninteresting things happen, so the key is both to listen to the problem and to study the theory. But always remember that just as much theory is bunk as there are buggy solutions. There is nothing more wrong with "theory" than "solutions" – both their quality and their applicability are orthogonal to their existence.

 

Erik Naggum

 

I also don’t think that there is really a theory of intelligent design at the present time to propose as a comparable alternative to the Darwinian theory, which is, whatever errors it might contain, a fully worked out scheme. There is no intelligent design theory that’s comparable. Working out a positive theory is the job of the scientific people that we have affiliated with the movement. Some of them are quite convinced that it’s doable, but that’s for them to prove…No product is ready for competition in the educational world.

 

Phillip E. Johnson

 

When we meet a fact which contradicts a prevailing theory, we must accept the fact and abandon the theory, even when the theory is supported by great names and generally accepted.

 

Claude Bernard