Skip to content
quotesby

About this quote

What does it mean?
Freud and Marx offered complex theories based on observation unlike abstract free-market models.
In plain terms
Real theories need observation not abstract models.
What can you take from it?
Ground theories in observed behavior not assumptions.

Where it applies

  • academic study
  • economic critique

Putting it to work

  • ground theories in data
  • question abstract models

Questions to consider

  • What makes a theory valid?
  • Is free market theory realistic?

Another view

It overlooks value in economic modeling.

More from Ellen Willis

  1. The centerpiece of the cultural counterrevolution is the snowballing campaign for a 'drug-free workplace' - a euphemism for 'drug-free workforce,' since urine …

    Permalink to quote #9
  2. The project of organizing a democratic political movement entails the hope that one's ideas and beliefs are not merely idiosyncratic but speak to vital human n…

    Permalink to quote #11
  3. The drug war has nothing to do with making communities livable or creating a decent future for black kids. On the contrary, prohibition is directly responsible…

    Permalink to quote #8

Related quotes

  1. Political institutions are a superstructure resting on an economic foundation. The Three Sources and Three Constituent Parts of Marxism (1913)

    Vladimir LeninVladimir Lenin quote #58
  2. If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Pl…

    Ludwig von MisesLudwig von Mises quote #1
  3. Man is a creation of desire, not a creation of need.

    Gaston BachelardGaston Bachelard quote #1