(MaxSpeak) I’ll try to clarify MaxSpeak’s point: Physicists do not know the firs

http://noahpinionblog.blogspot.com/2015/05/economists-dont-have-physics-envy.htmlNoah, (MaxSpeak)

I’ll try to clarify MaxSpeak’s point:

Physicists do not know the first principles of the physical world, but they can usually construct operational proofs using mathematics – just as we can in mathematics construct proofs that at least test their hypothesis. This is because the universe can’t ‘choose’ to remain out of balance.

Even such, scientists still write in in operational language, with operational definitions, to illustrate that they are not adding information (bias) into their arguments.

But in economics, not only is the purpose of human though expressly to place the world out of balance so that we can capture the difference for our use, we DO know the first principles of human behavior – and each of us is an excellent subjective and sympathetic test of each and every rational decision in a transformational sequence.

Yet we do not demand ‘proofs’ in economics as we do in the physical sciences, mathematics or logic. A proof is not a justification. It is a form of criticism. It tells us that something *can* be operationally constructed, and therefore can exist.

If one cannot construct a bottom up (operational) proof, one cannot prove one’s phenomenon is existentially possible, and free of subjectively added information (bias).

The operational movements were successful in physics (Bridgman/Operationalism), mathematics (Hilbert and Brouwer/Intuitionism), and in psychology (various/Operationism). But in economics this movement failed (Mises/Praxeology).

One cannot warranty that an economic theory is true if one has not warrantied that it is operationally possible for humans to perform.

As such the sequence of theories (at least at the macro level) are self justifying, rather than critical (scientific) and well criticized.

At some point in the future Hayek’s prediction that the 20th century would be remembered as an era of mysticism (pseudoscience) in the social sciences will be common knowledge.

These subjects are non trivial, but MaxSpeak has touched on the central problem: once you assume the virtue of full employment the rest is just justification.

Curt Doolittle

The Propertarian Institute

Kiev Ukraine

http://noahpinionblog.blogspot.com/2015/05/economists-dont-have-physics-envy.html?