In both social and natural sciences, the body of positive knowledge grows by the failure of a tentative hypothesis to predict phenomena the hypothesis professes to explain; by the patching up of that hypothesis until someone suggests a new hypothesis that more elegantly or simply embodies the troublesome phenomena, and so on ad infinitum.

— Inflation and Unemployment

— Nobel Memorial Lecture, December 13, 1976

— Milton Friedman

2013.01.17 Thursday ACHK