by From Ikonoclast The only real science is hard science; namely physics, chemistry and biology. The rest is not science. This is not to insist on mere scientism nor is it to insist that other subjects are worthless. It is simply to insist on the precision of definition for which those (mistakenly) arguing for precise science and mathematics in economics are in effect calling. Those calling for precise science and mathematics in economics become hoist on their own petard if they use, at any point in their calculations, dollars or “utils” or “snalts” (socially necessary abstract labor time). If you are calling for scientific and mathematical precision in economics then you must stick to the scientific units laid out in International System of Units (SI). These are base units; s second
Topics:
Editor considers the following as important: Uncategorized
This could be interesting, too:
Lars Pålsson Syll writes Cutting-edge macroeconomics …
Peter Radford writes The eclipse part wo
Editor writes Chang’s “Edible Economics”
Stavros Mavroudeas writes Workgroup for ‘Political Economy of Inequality and Social Policy’ – WAPE 2024, 2-4 August 2024, Panteion University
from Ikonoclast
The only real science is hard science; namely physics, chemistry and biology. The rest is not science. This is not to insist on mere scientism nor is it to insist that other subjects are worthless. It is simply to insist on the precision of definition for which those (mistakenly) arguing for precise science and mathematics in economics are in effect calling. Those calling for precise science and mathematics in economics become hoist on their own petard if they use, at any point in their calculations, dollars or “utils” or “snalts” (socially necessary abstract labor time).
If you are calling for scientific and mathematical precision in economics then you must stick to the scientific units laid out in International System of Units (SI). These are base units;
s second time
m metre length
kg kilogram mass
A ampere electric current
K kelvin temperature
mol mole amount of substance
cd candela
and derived units;
radian, steradian, hertz, newton, pascal, joule, watt, coulomb, volt, farad, ohm, siemens, weber, tesla, henry, degree Celsius, lumen, lux, becquerel, gray, sievert, katal.
Does anyone see dollars, “utils” or “snalts” in that list?
This is not a matter of merely being pedantic. If one is calling for science this is how one must work. Subjects outside of science and related to the economy are (for examples) political economy and moral philosophy, worthwhile and necessary subjects but not sciences.
Bringing science into economics must necessarily entail measurements in the scientific units above (plus the utilization of taxonomic schemes for biota). Thus if we assess by scientific studies and measurements that we are causing the 6th mass extinction and forcing dangerous climate change by releasing CO2 from our fossil fuels, then we have assessed that we should stop using fossil fuels. How we stop is the next matter for consideration and then we must examine energy transitions, energy saving and consumption curtailment, all in scientific and technological feasibility terms. Only real resource considerations are meaningful. Money considerations are completely meaningless. This is if we are being entirely logical and scientific.