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Thread: WHAT THE GREATEST MIND OF THE 20th CENTURY SAID ABOUT ECONOMICS

  1. #11
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    An Urch Guru Pundit Swami Sage economicus's Avatar
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    My answer: Fatal Conceit (by F. A. Hayek)

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    An Urch Guru Pundit Swami Sage asianeconomist's Avatar
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    At least he called Economics a Science. That makes me happy :>)
    The Pens have been lifted and the Pages have dried. - recorded by At Tirmidhee.

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    TestMagic Outlier buckykatt's Avatar
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    You mean this thread isn't an April Fool's Day joke?
    Attending: UConn

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    Within my grasp! batmanisafatman's Avatar
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    Quote Originally Posted by economicus View Post
    My answer: Fatal Conceit (by F. A. Hayek)
    Cool. I've heard of that one but am not familiar with it. Judging from the Wikipedia article on it though, I don't think I'd like it (as I disagree with most of its central arguements/defenses, and apparently so does Einstein according to his positions in this article). But thanks for sharing your opinion.
    Quote Originally Posted by asianeconomist View Post
    At least he called Economics a Science. That makes me happy :>)
    Coming from Einstein, that would be quite the compliment! However, I interpreted the second paragraph a bit differently. He seemed to separate "economic science" from other sciences, perhaps through an arguably false dichotomy though. I did think it was interesting/important that he did reference "economic science" and then provide his opinion its science-ness.
    Quote Originally Posted by buckykatt View Post
    You mean this thread isn't an April Fool's Day joke?
    No Sorry... that would have been good though. Hows this: YouTube - Saving the Economy With Science . Haha... ridiculous.

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    I must have missed something but how is empiricism an appeal to authority? Isn't that called the Scientific Method?
    (Since must of my comments seem to piss people off let me state that I am not being a smartass it is a genuine question)

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    Within my grasp! batmanisafatman's Avatar
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    Quote Originally Posted by Bees View Post
    I must have missed something but how is empiricism an appeal to authority? Isn't that called the Scientific Method?
    (Since must of my comments seem to piss people off let me state that I am not being a smartass it is a genuine question)
    No problem, perfectly reasonable question. I'm having a beer (its friday), so I'll quote someone else to answer you. If your interested or still confused let me know later and I'll reply more concretely. Personally, I'm always surprised at how few of today's economists consider epistemology.

    "In order to form experiences, Empiricism makes especial use of the form of Analysis. In the impression of sense we have a concrete of many elements, the several attributes of which we are expected to peel off one by one, like the skins of an onion. In thus dismembering the thing, it is understood that we disintegrate and take to pieces these attributes which have coalesced, and add nothing but our own act of disintegration. Yet analysis is the process from the immediacy of sensation to thought: those attributes, which the object analysed contains in union, acquire the form of universality by being separated. Empiricism therefore labours under a delusion, if it supposes that, while analysing the objects, it leaves them as they were: it really transforms the concrete into an abstract."

    -Hegel, Encyclopedia of the Philosophical Sciences... Logic

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