BOETTKE’S HYPOTHESIS WHY AUSTRIANS ARE NOT MAINSTREAM “Verbal logic is not adequ

BOETTKE’S HYPOTHESIS WHY AUSTRIANS ARE NOT MAINSTREAM

“Verbal logic is not adequate to explain economic relationships. In the absence of formal logic, one cannot really test propositions. In other words, syntactic logic matters more than semantic logic.” (Hypothesis H4)

AND

“Science is not about absolutes, but about refutation. If AE is about (apodictic) certainty, then it is not a science, but a pastime.” (Hypothesis H5)

Well I disagree with AE as apodictic unless it’s complete. As I’ve written elsewhere it’s not complete. However, if expressed as complete, then it’s possible to propose means of falsification. And “m not sure it isn’t possible to model. Just very, very difficult, because we need much, much more data than we have today. Tis is where experimental psychology comes in.

In this sense, AE has a higher bar, because it tries to provide greater explanatory power than mainstream economics.