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Reasons why economics qualify as a science?
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03-10-2014, 10:57 AM
Post: #6
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Economics qualifies as a science in the same way that do also psychology, sociology, anthropology and psephology. To be honest, cosmology and astronomy fall into the same category.
They are all based on the scientific method: 1. observe a phenomenon 2. construct a theory to explain it 3. from the theory make a model of what should happen next 4. find data and arguments that support or demolish the model 5. if the model is supported, it becomes a principle to be applied 6. if the model is demolished, change the theory and construct another model that fits the data better. This approach has been used by scientists since Paracelsus and forms the basis for Newton's "laws," the laws of chemistry, medical practise about disease and treatments, and the study of geology. This is how proper economics works, also. NOT political economy and not anything connected to media economics stories. In common with sociology, psychology etc, economics is a social science. It tries to understand and predict how humans will behave. But we all know that humans are perverse and cannot be predicted with the certainty that goes with mechanical, electrical or chemical systems. That doesn't stop it being a science. |
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Messages In This Thread |
Reasons why economics qualify as a science? - Tom - 03-10-2014, 10:27 AM
[] - Resistevil - 03-10-2014, 10:44 AM
[] - Victor - 03-10-2014 10:57 AM
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