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Dec 28, 2012 10:39

“To the extent that economists have the ambition to behave like physicists, they face two dangerous pitfalls. The first is the temptation to believe that the laws of economics are like the laws of physics: exactly the same everywhere on earth and at every moment since Hector was a pup. That is certainly true about the behavior of heat and light. But the part of economics that is independent of history and social context is not only small but dull.” (Nobel prize in economic sciences laureate Robert Solow)
Solow, Robert M. 1997. "How Did Economics Get That Way and What Way Did It Get?" Daedalus 126 (1): 39-58.
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