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?
The empiricist will say: it didn’t work because we didn’t control for something else, after we do, it must be tested again. You see? Empiricism is a never-ending game of tests. For example, the empiricist will point out that D wasn’t controlled for, and D is Stalin and Hitler’s mustaches. That may sound absurd, but that is the logic of what the empiricists are saying. This same nonsense is used in every economic concept. Don’t let them fool you by masking this nonsense in mathematics.
The empiricist is just replacing old hypotheses with new ones. Each is as absurd as the next. This absurd hypothesis can never be proven incorrect. Even though, the praxeologist knew before any such testing that this would not work. The empiricist will make predictions based on the model which will be wrong. Then they will predict again so you forget the last absurd prediction. There will never be an empirical causal constant in the field of human action.
Any economic theory must take into account human action. All human action is directed by the individual. Changing wants and desires can and do happen, even by the same individual over time. The empiricist can never know before hand this information. Economic laboratory tests cannot be conducted. The empiricist will use complex formulas to make you think economics belongs to some esoteric group. You don’t have to be an economics expert to realize this is nonsense.
2 thoughts on “Economic Science”
Comments are closed.