The Use of Logic | There aren't Constants in Human Action

#economics #logic #mathematics

Economics has been treated very poorly over the years. It’s assumed economics can be measured. This includes: costs, prices, and much more. It’s impossible to make a constant when everything is a variable. They will try to insert those into a formula and call it scientific. It’s anti-scientific and illogical. They are using data from economics history. This represents a serious confusion about economics, and must be rejected outright.

These formulas and models divert logic from the study of economics. It’s impossible to come to economic laws from historical data. It’s a desire to turn economics into a quantitative science. Economics always deals with human action which is always qualitative. If we disregard them trying to turn a variable into a constant, using quantities is still impossible. The data is historical and historical data is always complex and can never be repeated.

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