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An economic system is not a linear system, and... this fact stands in the way of the determination of the parameters of the system by methods that presume linearity, and... it introduces great difficulties in the extrapolation from past behaviour for purposes of prediction.

— Arnold Tustin The Mechanism of Economic Systems (1953)

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More quotes by Arnold Tustin

He is transported to that curious world of decibels and negative frequencies where filter experts live.

Arnold Tustin in: Rufus Oldenburger (1956)

Methods by which engineers stabilise their mechanisms suggest analogous possibilities for stabilising economic systems.

Arnold Tustin (1957)

Actual economic systems are constantly subjected to change and disturbances, which would result in irregularity.

The Mechanism of Economic Systems (1953)

Consideration of a further possibility, namely that of constructing physical systems that are analogues of the economic system, and of observing and recording their behaviour.

The Mechanism of Economic Systems (1953)

When beliefs need some modification, We make it with much trepidation, For our world is then new, And things seem all askew, 'til we're used to the new formulation.

Arnold Tustin in: Judith L Mitrani (2001)

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Quote text and notes from Wikiquote: Arnold Tustin (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.