Moreover, economists have used quantitative techniques too often without due regard to their epistemological and technical limits. Some of this has been done in order to reach certain substantive results, some to reach determinate results, and some to reach optimal solutions. But much of it is due to the failure to recognize the limits of deduction, the limits of induction, and the limits of particular econometric techniques. (Samuels, 1998,p.354)

“Indeed, this delibate concentration on two or three keyrelationships treated moreover under specific assumptions or simply axioms as to human behavior which individuals in a particular social system may or may not follow – does indeed make possible the use of a quantitative mathematical treatment and facilitates the search for determinate levels of stable equilibrium but it is a form loose theoretization based upon concepts which have no clear empirical counterpart – a procedure which most institutionalists would regard as a misuse of the method of simplification and abstraction.In fact they consider this procedure not only as a misuse of theoretical analysis but as a potentially dangerous trivialization of the use of reason which is rapidly making of economics a technique rather than a social science.”(Kapp, 1968, p. 7)

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