Apr 22, 2021·1 reply
BillyShearsI think so. People have limited resources and economics is the study of how societies consume, produce and utilize those limited resources.
You can frame all of human history through the lens of economics
Think that's more anthropology more than anything else, unless economics can be categorised as a field of anthropology.
Apr 22, 2021The field of economics as it’s taught at universities is just a rhetorical defense of the status quo. It’s not a science in that they cannot make accurate predictions of the future
- Apr 22, 2021·1 reply
I mean we enter a recession every like 12 years so... figure it out economists
Apr 22, 2021Inb4 a bunch of morons who took one intro to Econ class in college start acting like they know what they are talking about
- Apr 22, 2021
Jk too late
- Apr 22, 2021Villainous B
Think that's more anthropology more than anything else, unless economics can be categorised as a field of anthropology.
It’s not, but I think a lot of people when they think economics they think
economics = how to make money
When it’s more so taking the principle that people are motivated by their self interest then building the social science from there.
Apr 22, 2021·1 reply
DVLPRLet’s say you were in charge of either raising the minimum wage or keeping it as it is, and you want to know what the outcome would be at either case. Would you say that developing economic hypotheses is a waste of time when it comes to predicting this outcome?
Yes. Tax the rich more in order to help subsidize small businesses to ensure they aren’t affected too hard and stagger the raise somewhat (over a period of time).
Apr 22, 2021·1 replyIt is a science. Half of you are talking about the implementation of economic theories, not economics
- OPApr 22, 2021·2 repliesBillyShears
I think so. People have limited resources and economics is the study of how societies consume, produce and utilize those limited resources.
You can frame all of human history through the lens of economics
But people have consumed, produced and utilized limited resources differently throughout history. The mechanisms change. Whereas H2O, for instance, is the chemical formula for water today, a billion years ago, and will be a billion years from now.
To me, a science gives us the truth, and the truth remains constant.
- OPApr 22, 2021CrimsonArk
Yes. Tax the rich more in order to help subsidize small businesses to ensure they aren’t affected too hard and stagger the raise somewhat (over a period of time).
Isn’t what you just said an economic hypothesis?
Apr 22, 2021It is a science.
- OPApr 22, 2021·2 repliesNever posting agai
It is a science. Half of you are talking about the implementation of economic theories, not economics
Can you give me an example of an economic truth/fact?
- Apr 22, 2021
a lifestyle
- Apr 22, 2021DVLPR
But people have consumed, produced and utilized limited resources differently throughout history. The mechanisms change. Whereas H2O, for instance, is the chemical formula for water today, a billion years ago, and will be a billion years from now.
To me, a science gives us the truth, and the truth remains constant.
Economics is a science the difference is that most tests of theories have to be done in the real world, rather than controlled environments like a physical science. Science is a process of question and observation and can apply to almost anything
Apr 22, 2021
- Apr 22, 2021CrimsonArk
It’s a pseudo-science with unreliable application backed up with often f***ed up ideologies.
It’s basically magic crystals level.
- Apr 22, 2021·1 replyDVLPR
Can you give me an example of an economic truth/fact?
Science isn't about truth, it's about describing the world around us in a consistent, reliable manner. You should read up on scientific method and its practicality. Economic research is science and produces economic theories, which are later argued and possibly applied
- Apr 22, 2021·1 replyDVLPR
But people have consumed, produced and utilized limited resources differently throughout history. The mechanisms change. Whereas H2O, for instance, is the chemical formula for water today, a billion years ago, and will be a billion years from now.
To me, a science gives us the truth, and the truth remains constant.
That’s why it’s important tbh as society changes the way we use our limited resources change too.
And science changes too at one point in time if you said the continents are moving people would call you stupid.
Apr 22, 2021Karl Popper rolling in his grave.
- OPApr 22, 2021·3 repliesNever posting agai
Science isn't about truth, it's about describing the world around us in a consistent, reliable manner. You should read up on scientific method and its practicality. Economic research is science and produces economic theories, which are later argued and possibly applied
Science is about getting closer and closer to the truth. We know more about chemistry today than we did 50 years ago.
I can easily give you a chemistry fact, can you give me a economic fact?
- Apr 22, 2021
Synopsis otw
- Apr 22, 2021·1 replyDVLPR
Science is about getting closer and closer to the truth. We know more about chemistry today than we did 50 years ago.
I can easily give you a chemistry fact, can you give me a economic fact?
By the definition of science, you cannot give me a scientific fact. Why did you make this thread before learning what science is?
- OPApr 22, 2021·1 replyBillyShears
That’s why it’s important tbh as society changes the way we use our limited resources change too.
And science changes too at one point in time if you said the continents are moving people would call you stupid.
But the continents were moving whether people believed it or not.
- Apr 22, 2021·1 replyDVLPR
Science is about getting closer and closer to the truth. We know more about chemistry today than we did 50 years ago.
I can easily give you a chemistry fact, can you give me a economic fact?
Can you give me a time when the price of an item went up the same time the supply of an item went up?
- OPApr 22, 2021·1 replyNever posting agai
By the definition of science, you cannot give me a scientific fact. Why did you make this thread before learning what science is?
Are you saying that truth/facts aren’t necessary to describe the world around us in a consistent, reliable manner?