One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have be… - Kenneth E. Boulding
" "One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.
About Kenneth E. Boulding
Kenneth Ewart Boulding (18 January 1910 – 18 March 1993) was an economist, educator, poet, religious mystic, devoted Quaker, systems scientist and interdisciplinary philosopher. He was cofounder of General Systems Theory and founder of numerous ongoing intellectual projects in economics and social science. He was married to .
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Additional quotes by Kenneth E. Boulding
A distinction does not have to be clear to be important, and, at some point, there is a common-sense dividing line between procedural and violent conflict. Violence is most closely associated with conquest as a form of conflict settlement, though violence is descriptive of a conflict process rather than of a conflict settlement. It is quite possible, for instance, for conquest to be nonviolent, that is, for one party to be absorbed in another or for one organization to be dissolved by strictly procedural means. Departments are organized out of existence, countries are federated or united, organizations are laid down, and firms are bankrupted by purely procedural processes, without more than perhaps a trace of legal coercion lurking in the background.
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