Quote: Friedman on Testing

The only relevant test of the validity of a hypothesis is comparison of prediction with experience. is a quote of American economist and statistician Milton Friedman (1912 - 2006). The quote can be found in the chapter "The methodology of positive economics" written by Dr. Friedman as an original article in his 1953 book "Essays in Positive Economics" containing a collection of his earlier articles.

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Milton Friedman
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