Economic Science | Math in Economics?

#economics #method #science

Economics can have definite proof with the correct method. This doesn’t come from charts, mathematical formulas, game theory, etc. Economics is the logic of human action. You can’t make a constant where everything is a variable. To deny that economics is the logic of human action is contradictory. Economics depends more on reason than observation. This may sound uncontroversial, but I assure you, it’s not.

Let’s use an example, socialism. Say Ruritania will try out socialism. The empiricist will say it must be tested. The praxeologist will say it’s impossible. Why two different answers? The empiricist will say we must control for: A, B, and C. The praxeologist will say there’s no property to bid away resources, therefore its impossible. It will not work. How will the empiricist deal with this?

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