http://organizationsandmarkets.com/2014/11/23/its-the-economics-that-got-small/I think I could at this point reframe Samuelson and Mises both as a mutual failure to understand the problems of general rules and arbitrary precision. Mises’ failure was to create the pseudoscientific argent instead of recognizing operationalism and intuitionism as more mature arguments.
In this sense, Samuelson is half right in practice but meaningless in theory. While Mises was half right in theory and meaningless in practice.
It’s actually a fascinating problem – which is why I work on it.
Mises intuited and Samuelson did not, that morality was non arbitrary and could not be divorced from economic theory.
None on the other 20th century thinkers could solve that problem either.
We needed another near century to do it.
The problem now is the uncomfortable task of reinserting morality into economics – And by that I mean quantitatively.
Because I am fairly certain it is possible.
Source date (UTC): 2014-11-27 12:43:00 UTC
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