At the beginning of my career, my desire to understand was associated with a profound desire to act, with the wish to influence opinion and policy; but, over the years, this motivation has come to be of secondary importance, far behind my desire to understand. Maurice Allais actbegincareer share on social
All science is based on models, and every scientific model comprises three distinct stages: statement of well-defined hypotheses; deduction of all the consequences of these hypotheses, and nothing but these consequences; confrontation of these consequences with observed data. Maurice Allais basecompriseconfrontation share on social
In principle, junk bonds are basically useful, but they are used excessively and irrationally, notably in takeovers. Maurice Allais basicallybondexcessively Change image and share on social
The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market. Maurice Allais fluctuationframeworkfundamentally Change image and share on social
My motivation was an idea of being able to improve the conditions of life, to try to find a remedy to many of the problems facing the world. That's what led me into economics. I saw it as a way of helping people. Maurice Allais conditioneconomicsface share on social
I was born May 31, 1911, in Paris. My parents owned a small cheese shop, and my maternal grandfather was a carpentry worker. I thus came from what is commonly known as the working class. Maurice Allais bearcarpentrycheese Change image and share on social
