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View Diary: NYT: It's Krugman Vs. Reinhart & Rogoff, Who Trivialize Their Incompetence And Attack “Left” (246 comments)

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  •  Agreed. Astrology and Numerology both (9+ / 0-)

    use mathematics  as a basis for their results. This does not make them a "science".

    Economics needs a  much more reasoned approach to become a science. Its foundational structure needs to be re-examined root and branch. Treating our current economic structures as though we are still on a gold standard so a yearly accounting is required is simply a stupid premise both from a policy standpoint and a taxation method; much less creating an economic model of the U.S based on it.

    However, I don't see a method to create such a science free from political choices at the onset.

    •  Not necessarily 'reasoned', (5+ / 0-)

      but 'objective'.

      The present development of economics is about as objective as tarot readings - you use the cards as a format for developing how you give the rube the information he wants to hear.

      It takes reasoning to determine what information to give, but if that reasoning is not based on objective data, it's pretty well useless, and can be more damaging than helpful.

      I am not religious, and did NOT say I enjoyed sects.

      by trumpeter on Fri Apr 26, 2013 at 08:38:26 AM PDT

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      •  You obviously (1+ / 0-)
        Recommended by:
        melo

        know much about fraud, and little about Tarot reading.  A genuine reading may be less accurate than modern economics ;-), but it does not start out with the intention of "giving the rube what he wants to hear".  Most often, the Oracle finds herself giving said rube the LAST information he wants to hear, which is why real fortunetellers are often run out of town on a rail.  Same thing happens to economists who dare to write what the Elite Consensus wants to hear.  They find themselves unemployed very quickly, like drug abuse researchers who report that marijuana isn't particularly harmful.

        •  seriously tarot? (0+ / 0-)

          and next we feature ghosts and mediums.  

          If your Tarot reader is making money, then your Tarot reader has a reason to believe in the whole enterprise.  Likewise your ghost finder and your medium.  No scientific basis exists for Tarot.

          You shall know the truth, and the truth shall make you mad. Aldous Huxley

          by murrayewv on Fri Apr 26, 2013 at 11:39:17 PM PDT

          [ Parent ]

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