How economists rode maths to become our era’s astrologers

Re:How economists rode maths to become our era’s astrologers by nabla9 on Saturday July 22, 2017 @08:39AM (#14826894)

I don't buy argument. It confuses economics used to advance political or commercial goals with academic economics.

Economics is far ahead other social sciences because it uses mathematical modelling. Models make it easier to see the limits and the scope of the arguments. Ability of outsiders to clearly see oversimplification s is strength.

Rational actor model is the best first order approximation of behaviour. Moving to others, there are others, should be justified carefully.

Other social sciences have it worse.

Btw. Economics is only partially social science. Actors don't have to be humans.

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Re:How economists rode maths to become our era’s astrologers by fiatjaf on Saturday July 22, 2017 @08:41AM (#14826901)

> It confuses economics used to advance political or commercial goals with academic economics.

Does it? Or is this totally confused in the practical world too?

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Re:How economists rode maths to become our era’s astrologers by nabla9 on Saturday July 22, 2017 @08:58AM (#14826965)

It's not.

For example, the austerity debate has been academically settled. Politicians took one academic paper (outlier) with error and used it to screw things up. IMF did mea culpa after data disagreed.

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Re:How economists rode maths to become our era’s astrologers by maxxxxx on Saturday July 22, 2017 @10:17AM (#14827320)

How has it been settled?

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Re:How economists rode maths to become our era’s astrologers by oriol16 on Saturday July 22, 2017 @10:03AM (#14827253)

You obviously have no clue of what you talk about

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Re:How economists rode maths to become our era’s astrologers by fiatjaf on Saturday July 22, 2017 @10:04AM (#14827268)

What are the terms of the settlement?

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