Re:Intermediate sci knowledge associated with overconfidence...
by DiggyJohnson on Thursday September 14, 2023 @02:44PM
(#37513040)
Whether it's a science or social science or research domain or discipline, how is that relevant to this discussion? It doesn't change GPs point.
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Re:Intermediate sci knowledge associated with overconfidence...
by passion__desire on Thursday September 14, 2023 @02:51PM
(#37513128)
Well is it possible that an Alan Sokal kind of trick be pulled of in economics if it is a social science.
Relevant : https://www.youtube.com/watch?v=d0nERTFo-Sk
Re:Intermediate sci knowledge associated with overconfidence...
by bedobi on Thursday September 14, 2023 @05:52PM
(#37515335)
Yes, economics is science, and the people who don't understand that and love to point out how economists are never right in their predictions about the economy fundamentally have no idea what the field is even about.
Economics is not about predicting the stock market or economy as a whole, nor is it about coming up with excuses for free market capitalism and neoliberal agendas. It's about studying things like market failures, tax incidence, deadweight losses etc etc etc and coming up with solutions.
Re:Intermediate sci knowledge associated with overconfidence...
by passion__desire on Friday September 15, 2023 @09:19PM
(#37531049)
So basically creating a strawman toy model of actual complex economy and solving it. That's what theoretical physicists do initally but once developed they get to prediction stage. Just like rational agent axiom is false, I wonder what other badly formulated axioms does economics harbour.
Re:Intermediate sci knowledge associated with overconfidence...
by bedobi on Saturday September 16, 2023 @06:22PM
(#37539370)
> So basically creating a strawman toy model of actual complex economy and solving it
Uh, no. Read up on what economists did to empirically study and fix the kidney market and how many lives that has saved. (before you start typing, no, it wasn't to sell kidneys to the highest bidder)
> rational agent axiom
If you knew anything about economics, you'd know that no economist subscribes to any "rational agent axiom". But you have made up a strawman in your head so enjoy poking sticks at it.