What Is The Law Of Parsimony?
The law of parsimony, also called the law of economy or Ockham’s razor, proposes that a problem should be stated in its basic and simplest terms. In scientific terms, it states that the simplest theory that fits the facts of a problem should be the one selected. Credit for outlining the law is usually give to William of Ockham (1284? – 1347?), an English philosopher and theologian, who wrote that “entities must not be multiplied beyond what is necessary.”
[Source : The Handy Science Answer Book]