The Guardian on economics

That is because we nowadays produce so much more, thanks to the genius of technology and science.

How much less assured, by contrast, is the progress of the social and economic sciences over the decades.

Erm, well, yes.

Except, of course, much of the progress in economics over these decades has been in, well, you know, what are the circumstances which produce technological growth and scientific advance?

Like, Yaaay! for markets and Yah Boo Sucks! to planning, just as one example?

4 thoughts on “The Guardian on economics”

  1. So Much For Subtlety

    Ahh, but you forget, in Guardianland, they think they have learnt from the past. Not that they ever snuggled up to Stalin anyway. No more mistakes to be made. This time it will work!

  2. Strewth!

    To describe sociology and economics as “sciences” is to demean science. They’re both, at best, descriptive with toss-all apparent predictive ability.

  3. While I personally think economics is about as scientific as cake decorating, it is an extraordinarily useful discipline. I don’t think it’s fair to say it has no predictive ability – it’s quite good at generating predictions in a lot of areas. They’re not predictions in the Popper sense because they rely on previous observations, but economics is excellent for saying “this worked in situation x, now we are in y and it should work again because of the following similarities.” Or the opposite – it won’t work because y is too different. That’s not a scientific prediction, but it’s bloody useful nonetheless.

  4. I find it facinating reading the erudition in this blog.
    But I often wonder if anybody of importance takes any notice of economic gurus.
    They seem mostly to go the way they feel like.
    And some of the economic arguments remind me of the old erudition – religious argument.
    Very intellectual but of not profit.

Leave a Reply

Your email address will not be published. Required fields are marked *