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FarCenter

(19,429 posts)

11. Economics is not really close to astronomy, either

Reply to Fumesucker (Reply #9)

Mon Dec 10, 2012, 05:14 PM

Dec 2012

Economics includes the effects of law, regulation and custom, which do not reflect any natural phenomena. For example, the IRS code and the Uniform Commercial Code affect economic outcomes.

Second, economic reflects the aggregate behaviour of communicating humans, which is inherently unpredictable over any reasonable time scale.

Meteorology might be a closer analogy, since it deals with an inherently chaotic phenomena, but it still doesn't have the two factors described above.

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Not all science is literally experimental [View all] cthulu2016 Dec 2012 OP

My goodness!! What a BEAUTIFUL post! Bookmarking & Thank You, cthulu2016! patrice Dec 2012 #1

Science requires the application of the SCIENTIFIC METHOD. Romulox Dec 2012 #2

Which does not always require literal experiment cthulu2016 Dec 2012 #3

Yes, and history does show us that there are forms of the "educated guess" that could be patrice Dec 2012 #4

Assholes and idiots are harder to work with than rats jsr Dec 2012 #5

Please add that experimentation and/or observation must be reproduceable. Avalux Dec 2012 #6

Equate is a funny word cthulu2016 Dec 2012 #7

I would like to see a Venn diagram of of the first example you gave. Avalux Dec 2012 #8

In theory or practice? cthulu2016 Dec 2012 #10

Hmm.... Avalux Dec 2012 #12

I would say that economics is closer to astronomy as a science than it is physics Fumesucker Dec 2012 #9

Economics is not really close to astronomy, either FarCenter Dec 2012 #11