Had it merely called to our attention the existence and exact nature of certain fundamental gaps in economic theory, the Theory of Economic Behavior by von Neumann and Morgenstern would have been a book of outstanding importance. But it does more than that. It is essentially constructive: where existing theory is considered to be inadequate, the authors put in its place a highly novel analytical apparatus designed to cope with the problem. It would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope of the book is much broader. The techniques applied by the authors in tackling economic problems are of sufficient generality to be valid in political science, sociology, or even military strategy. The applicability to games proper (chess and poker) is obvious from the title. Moreover, the book is of considerable interest from a purely mathematical point of view.
Leonid HurwiczRelated topics
apparatus applicability attention book certain economics fundamental generality interest nature novel place point problem proper science sociology tackling view Neumann morgensternRelated quotes
The physicist needs a facility in looking at problems from several points of view. The exact analysis of real physical problems is usually quite complicated, and any particular physical situation may be too complicated to analyze directly by solving the differential equation. But one can still get a very good idea of the behavior of a system if one has some feel for the character of the solution in different circumstances. Ideas such as the field lines, capacitance, resistance, and inductance are, for such purposes, very useful. ... On the other hand, none of the heuristic models, such as field lines, is really adequate and accurate for all situations. There is only one precise way of presenting the laws, and that is by means of differential equations. They have the advantage of being fundamental and, so far as we know, precise. If you have learned the differential equations you can always go back to them. There is nothing to unlearn.
Richard Feynman
The quantum theory, as it is now constituted, presents us with a very great challenge, if we are at all interested in such a venture, for in quantum physics there is no consistent notion at all of what the reality may be that underlies the universal constitution and structure of matter. Thus, if we try to use the prevailing world view based on the notions of particles, we discover that the 'particles' (such as electrons) can also manifest as waves, that they move discontinuously, that there are no laws at all that apply in detail to the actual movements of individual particles and that only statistical predictions can be made about large aggregates of such particles. If on the other hand we apply the world view in which the world is regarded as a continuous field, we find that this field must also be discontinuous, as well as particle-like, and that it is as undermined in its actual behaviour as is required in the particle view of relation as a whole.
David Bohm
To my complete surprise, that exposure to out-of-date scientific theory and practice radically undermined some of my basic conceptions about the nature of science and the reasons for its special success.
Those conceptions were ones I had previously drawn partly from scientific training itself and partly from a long-standing avocational interest in the philosophy of science. Somehow, whatever their pedagogic utility and their abstract plausibility, those notions did not at all fit the enterprise that historical study displayed. Yet they were and are fundamental to many discussions of science, and their failures of verisimilitude therefore seemed thoroughly worth pursuing. The result was a drastic shift in my career plans, a shift from physics to history of science and then, gradually, from relatively straightforward historical problems back to the more philosophical concerns that had initially led me to history.
Thomas Samuel Kuhn
Unfortunately... the philosophy of Aristotle laid it down as a principle, that the celestial motions were regulated by laws proper to themselves, and bearing no affinity to those which prevail on earth. By thus drawing a broad and impassable line of separation between celestial and terrestrial mechanics, it placed the former altogether out of the pale of experimental research, while it at the same time impeded the progress of the latter by the assumption of principles respecting natural and unnatural motions, hastily adopted from the most superficial and cursory and remark, undeserving even the name of observation. Astronomy therefore continued for ages a science of mere record, in which theory had no part, except in so far as it attempted to conciliate the inequalities of the celestial motions with that assumed law of uniform circular revolution which was alone considered consistent with the perfection of the heavenly mechanism.
John Herschel
I have already accepted the policy of Imperial preference...to the effect that a preference will be given on existing duties and on any duties which may subsequently be imposed. On this subject I think there is no difference of opinion between us. ... I am prepared to say that the key industries on which the life of the nation depends must be preserved. I am prepared to say also that, in order to keep up the present standard of production and develop it to the utmost extent possible, it is necessary that security should be give against the unfair competition to which our industries have been in the past subjected by the dumping of goods below the actual cost of production. ... I shall look at every problem simply from the point of view of what is the best method of securing the objects at which we are aiming without any regard to theoretical opinions about Free Trade or Tariff Reform.
David Lloyd George