Leibenstein on prediction and explanation

“Predictive capacity without explanatory capacity is worthless. Mere clairvoyance, irrespective of its sharpness, does not itself have scientific standing. Only predictive capacity that arises out of having coherent and communicable explanations has scientific standing. The power to predict is subsidiary to the power to explain. Explanation without prediction is sufficient, but prediction without explanation is of no consequence from a scientific standpoint.

— Harvey Leibenstein (1966), in “Beyond Economic Man”.

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