See: pragmatism
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Mosini boils Essays' most famous piece, 'The Methodology of Positive Economics' (hereafter F53) down to four propositions: (1) The only objective test of a positive theory's worth is its predictive success; (2) The realisticness of assumptions is not a test of a theory's worth because all theories inevitably contain unrealistic assumptions; (3) Evidence can only disprove a theory, never prove it to be true.
Stephen Pratten addresses the simplifying assumptions of economic formalism by recommending humility with regard to the scope of one's work that arises from a conscious awareness of the tension between formalism and realisticness (this, perhaps awkward, term is used instead of realism, because in this context, the latter is a technical term denoting a movement arising from critical theory).