Comments on: Quote of the day: Economics http://dbzer0.com/blog/quote-of-the-day-economics A bug in the code of the universe. Thu, 24 May 2012 07:08:55 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: db0 http://dbzer0.com/blog/quote-of-the-day-economics/comment-page-#comment-79930 db0 Sun, 31 Jan 2010 15:07:07 +0000 http://dbzer0.com/blog/quote-of-the-day-economics#comment-79930 Science may have some scientists who don't agree on the particulars of a theory, but all scientists agree on the basics. There's no competing schools of science. Alchemy VS Chemistry or Astrology VS Astronomy etc. And that is because on school has proven beyond a shadow of a doubt that they have it right. In economics though there's not just two but 5 more different ways to interpret them and none of them agree with the other. Sure the reality is always the same but to discover who has the truth about how this reality is, is the million dollar question. Is economic reality as Marx described it or as Keynes? Is value only subjective or does it have an objective basis? Science may have some scientists who don't agree on the particulars of a theory, but all scientists agree on the basics. There's no competing schools of science. Alchemy VS Chemistry or Astrology VS Astronomy etc. And that is because on school has proven beyond a shadow of a doubt that they have it right. In economics though there's not just two but 5 more different ways to interpret them and none of them agree with the other. Sure the reality is always the same but to discover who has the truth about how this reality is, is the million dollar question. Is economic reality as Marx described it or as Keynes? Is value only subjective or does it have an objective basis?

]]> By: Daniel http://dbzer0.com/blog/quote-of-the-day-economics/comment-page-#comment-79926 Daniel Sun, 31 Jan 2010 04:27:25 +0000 http://dbzer0.com/blog/quote-of-the-day-economics#comment-79926 Just because a bunch of the scientists don't agree on theory does not mean that the reality is any different. Just because a bunch of physicists don't agree on Quantum Mechanics does not mean that the reality is any different. There are ways to examine economics of a society, what something is worth, people response to certain goods, producers and consumers, the cost to produce certain things, and if you disagree with that then I suppose you are a lost cause. Just because a bunch of the scientists don't agree on theory does not mean that the reality is any different. Just because a bunch of physicists don't agree on Quantum Mechanics does not mean that the reality is any different. There are ways to examine economics of a society, what something is worth, people response to certain goods, producers and consumers, the cost to produce certain things, and if you disagree with that then I suppose you are a lost cause.

]]> By: db0 http://dbzer0.com/blog/quote-of-the-day-economics/comment-page-#comment-14495 db0 Wed, 04 Mar 2009 05:14:08 +0000 http://dbzer0.com/blog/quote-of-the-day-economics#comment-14495 Economists agree?! Are you from this world? Keynesians? Austrians? Friedman's school? Neoclassical Economists? Which ones agree exactly? No, it's not a science because it lacks one of the most important thing science does. Repeatability. Economists agree?! Are you from this world? Keynesians? Austrians? Friedman's school? Neoclassical Economists? Which ones agree exactly?

No, it's not a science because it lacks one of the most important thing science does. Repeatability.

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