Maurice Allais quotes

Maurice Allais was a French economist and physicist, renowned for his work in market theory and decision-making. His pioneering research contributed significantly to the understanding of resource allocation and risk in economics. He was awarded the Nobel Prize in Economics for his achievements. Here are 13 of his quotes:

Too many theorists have a tendency to ignore facts that contradict their convictions. (Maurice Allais)
Submission to the experimental data is the golden rule that dominates any scientific discipline. View quote
Maurice Allais
In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property. View quote
Maurice Allais
Anyone who dares to speak about an aether is regarded as an ignorant and backward mind and he can only lose his credibility in scientific circles, although in reality those who criticize him use the same concept of intermediate medium in other words, whether it be fields, an associated fluid, a probability fluid, a pilot fluid, a quantum fluid, etc. View quote
Maurice Allais
A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience. View quote
Maurice Allais
We must take the world as it is and not as we would like it to be. View quote
Maurice Allais
My approach has never been to start from theories to arrive at facts, but on the contrary, to try to bring out from the facts the explanatory thread without which they appear incomprehensible and elude effective action. View quote
Maurice Allais
Wall Street has become a veritable casino. View quote
Maurice Allais
It would be just as pointless to oppose the international use of English today as it would have been to oppose the worldwide use of French in the 18th century. View quote
Maurice Allais
Any author who uses mathematics should always express in ordinary language the meaning of the assumptions he admits. View quote
Maurice Allais
A theory is only as good as its assumptions. (Maurice Allais)
The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market. View quote
Maurice Allais
Any author who uses mathematics should always express in ordinary language the meaning of the assumptions he admits, as well as the significance of the results obtained. The more abstract his theory, the more imperative this obligation. In fact, mathematics are and can only be a tool to explore reality. In this exploration, mathematics do not constitute an end in itself, they are and can only be a means. View quote
Maurice Allais