Re: CAMREC: Egalitarianism in a world of power-law distributions

From: the Campaign for Real Economics (camrec@mmu.ac.uk)
Date: Wed Dec 20 2000 - 10:04:07 GMT

  • Next message: the Campaign for Real Economics: "CAMREC: Do think there are purely scientific economic predictions?"

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    From: the Campaign for Real Economics <camrec@mmu.ac.uk>
    Date: Wed, 20 Dec 2000 10:04:07 +0000
    Subject: Re: CAMREC: Egalitarianism in a world of power-law     distributions
    

    > > Do think there are purely scientific economic
    > > predictions?

    I agree with CHR that the "scientific" bit indicates a strong
    relationship with observable phenomena (aka the real world). Merely
    adopting the formal clothes of science is not enough. Building vaguely
    plausible (in the eye of the beholder) formal structures is merely an
    obscure branch of Maths - one that fails the Mathematicians criterion of
    importance and generality.

    I discuss the role of formalisation in:
            http://www.cpm.mmu.ac.uk/cpmrep75.html

    There is nothing absolute that would prevent scientific predictions (as
    in biology they would be second order structural conclusions rather than
    those of the "What specifically will happen next" variety).
    Unfortunately present economics is in too much of a rush - hoping for
    that magic assumption/technique that will "dissapear" all that
    contingent messy detail instead of doing the HUGE amount of description
    and field-work that the subject requires before generalisation is
    possible.

    I attempt such a descriptive approach in:
            http://www.cpm.mmu.ac.uk/cpmrep54.html

    So in conclusion:

    IF economic=present economics THEN answer=no

    IF economic=social phenomena involving exchange AND prediction is as in
    biology AND the question is rephrased to be about the future THEN
    answer=yes

    Regards.

    --------------------------------------------------
    Bruce Edmonds,
    Centre for Policy Modelling,
    Manchester Metropolitan University, Aytoun Bldg.,
    Aytoun St., Manchester, M1 3GH. UK.
    Tel: +44 161 247 6479 Fax: +44 161 247 6802
    http://www.cpm.mmu.ac.uk/~bruce



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