Angus Deaton Quotes
A good theoretical account must explain all of the evidence that we see. If it doesn't work everywhere, we have no idea what we are talking about, and all is chaos.
Deaton, Angus. The Great Escape: Health, Wealth, and the Origins of Inequality. Princeton University Press, 2013.
Historically, in the first half of the 20th century, nuclear scientists discovered that probability governed and was necessary for understanding quantum mechanics—the laws of physics governing tiny objects like atoms, electrons, protons and even quarks. To many, this seemed a contradiction in that it was hard to conceive particles following laws and yet behaving randomly at the same time. However, it did not take long before all the scientists adjusted their thinking and learned to live and work with that was then a type of contradiction but is no longer thought so as men and women have learned to think in a new way. This quotation illustrates that the greatest scientists in the world, in a very short period of time, had to change their entire mode of thinking. There were no real holdouts or “conservatives” who wanted to maintain the older values. This would never happen in politics, where change is not accepted very quickly.
For many scientists, this is the goal of each area of inquiry. For others, the science is crude and really not understood unless the mathematical model exists and can be verified experimentally. For Thompson, this was the difference between understanding and not.
Sir Angus Stewart Deaton FBA is a British-American economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs and the Economics Department at Princeton University. His research focuses primarily on poverty, inequality, health, wellbeing, and economic development.