In the realm of mathematics, the quote encourages elegance and simplicity in solutions to problems. In fields like economics and sociology, Occam's Razor can be applied to models and theories to avoid unnecessary complexity and better understand underlying principles. The principle is not limited to academic disciplines but also extends to practical decision-making, where simplicity can lead to more efficient and effective solutions.
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"Entities should not be multiplied unnecessarily" - William of Ockham
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