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Reasons why economics qualify as a science?
03-10-2014, 10:49 AM
Post: #5
 
If you define science as a set of knowledge economy is obviously
a science.
If you define it narrowly as something that brings certainties, it is not
But then most other fields qualified as sciences and even "hard" sciences
are not either, as their paradigms tend to change with time, and they
thrive on assumptions and limits.

Who knows if dark matter and dark energy really exist and, if they exist
what they are?
Also, if I understood well, is not an "uncertainty principle" running quantic
physics?
What about emergence in complex dynamical systems? Who can
know in advance what the new traits of the system will be?

The difference is that social sciences, and this includes economics, add
a specific type of uncertainties: people preferences, reactions and
anticipations are far from stable. Thus modelization is more tricky, it has
to make room for many scenarios, "hard" statistics and probabilities can
not cover all possibilities.

Economic previsions
http://pgreenfinch.pagesperso-orange.fr/...ision.html
Economic models
http://pgreenfinch.pagesperso-orange.fr/...odels.html
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Messages In This Thread
[] - Neil - 03-10-2014, 10:30 AM
[] - K_X - 03-10-2014, 10:42 AM
[] - Resistevil - 03-10-2014, 10:44 AM
[] - pgreen - 03-10-2014 10:49 AM
[] - Victor - 03-10-2014, 10:57 AM
[] - Philip M - 03-10-2014, 11:08 AM

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