Rather, economists try to capture the essential elements of economic reality as easily and simply as possible via the use of algebra, geometry and statistics.
Of course, this process is not without controversy, as one could assume too much or too little regarding crucial parameters, and in an effort to simplify, one could always oversimplify, as distinguishing one from the other is admittedly more of an art than a science.
A rule of thumb borrowed from Einstein: when asked how simple, elegant and beautiful a model should be, he replied, "as simple as possible....but no simpler".
