...the facts of economic life cannot be comprehensively described in terms of statistics.

...the facts of economic life cannot be comprehensively described in terms of statistics.

Oskar Morgenstern
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Now, in the modern money economy everything in the nature of a social-economic occurrence consists in human actions and behaviour.

Oskar Morgenstern
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...the facts of economic life cannot be comprehensively described in terms of statistics.

Oskar Morgenstern, The Limits of Economics
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Our knowledge of dynamic processes is necessarily inferior to our ability to describe stationary conditions.

Oskar Morgenstern, On The Accuracy Of Economic Observations
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