Thread: Economics: science or not?

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  1. #1
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    I am interested in what you guys think: is economics a science or not?
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  2. #2
    Join Date May 2002
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    No it isn't. Economics certainly isn't a 'rational' science, but some consider it to be some kind of social science. I think one thing economists do, is that they hyperinflate the field; I don't even think that the study of economics is benefical to any anarchist or socialist philosophy, since now it mostly deals with property and how to acuire it through paying for it and the production and distribution under a capitalist system. Economists realize this, but then they claim that everything that humans do is an 'economic' decision, such as if in you're in a war or something and you conserve you're resources for later because of what you suspect we'll be ahead, they say this is related to 'economics' but I think that that's really just common sense and human behavior, and that we're probably "programmed" to do things that a certain ways.

    If you're in a socialist society and you're contributing to the public good, what would be the point in studying the final result of that? That's like studying the density of blades of grass or something. We also know that the economic 'facts' have been proven wrong through history, and I don't think there will ever be any hard economic facts outside of a capitalist system. The indians didn't care about economics, and they shared the land and so on, and they did fine until the white man came, so I don't think we should be too focused on it. When they aztecs sacrificed people, were they making 'economic decisions' for their society?

    Even the economist has criticized economics, "...unlike physics, economics yields no natural laws or universal constants" it follows that "...with or without experiments, economics is not and never can be a proper science."


    Here are some good links

    Economics And the Human Conditition

    Is Economic Theory a Pseudoscience?
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  3. #3
    Join Date Jun 2004
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    SOMETIMES IS,SOMETIMES IS NOT.
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  4. #4
    Join Date Mar 2004
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    It depends on how you are working with economics. If you are using theories and such to develop an hypothesis on how economics will change and effect things globally, thats science. Economic policies and beliefs are not. Although it is also very much subjective
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  5. #5
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    Marxist economics is a science, like any of the other social sciences. Capitalist economics is a religion and has no bearing on the facts on the ground.

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