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Economic "science"
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this post was submitted on 20 Aug 2025
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I wouldn't last a year into a homeopathy BSc, does that mean water has memory?
I'm sure there are entire studies about why homeopathy works. What's your point? That economists are better liars than homeopaths?
Economics should be viewed like history: as an after-the-fact study, not some form of prediction model. Meaning, not a science, as it is by definition non reproducible (until we invent a time machine). Seen from this angle, I think economics is a quite interesting topic, yes.
But most "economists" from last century just spew things about how capitalism is great, because suggesting otherwise would be a (career) suicide in most of the west during the cold war, and things have been slow to evolve. Also, empirical data is not what defines science. It's only used to support theories. Otherwise, I can tell you that 99% of the people who take homeopathy for their flue are cured within the week. See how useless "empirical" data can be on their own?
Economists who view themselves as anything more than historians are basically gurus pushing whatever ideology is trending. Even the more mathematical aspects of economics rely on vague theoretical models that cannot be used for anything but filling up a thesis. But if one of those models can predict when ww3 starts, when Putin dies, or who will win the next election in my city, then I'll admit, maybe they are good for something.
Makes me wonder who, between you and I, needs to learn more about economics.
if water has memory, and I'm 70% water, why the fuck do I forget everything all the time?
It's the 30% that isn't water fucking things up, that's the toxins
Doctor, this man is dying! Put him in the reverse osmosis machine, stat!
I've seen first year Econ questions, it was such basic maths I genuinely thought it was fake
Undergrad Econ is a bit of a joke.
Post graduate Econ is considered one of the hardest degrees, and used to have one of the highest salaries upon graduation.
Those cancerous recommendation algorithms that are the result of optimising millions of live A/B tests? Designed and constructed by Econ PhDs.
It was as a science, but I think it's probably a difference in perspective. I studied maths so saying linear algebra as the most difficult part kinda proves my point in my mind.
just because something is BS, doesn't mean it's easy. no was I can get a chiropractic license, but that doesn't mean it isn't BS.
look at all the nuances and complexities in astrology, it's still made up thing that brings comfort to some, but it isn't "easy".
however the biggest objection to economics, is that it's a self fulfilling profecy for the rich, they invest in the economical ideas they like, make them popular and into a "science" even with fake Nobel prizes. then those theories get applied because it's "science" now. only to benefit those who financed those institutions. basically Lobbying with extra steps.
using "sciency" terms doesn't make you a science. look at chiropractors, or Scientology.
did I say something wrong?
even if there was a crumb of truth in that whole field. it's far too diluted by bullshit from rich people trying to pass their idiotic ideas on how society should run as fact. they are basically giant lobbying think-tanks.
that's like trusting climate science sponsored by Shell
I have a big, mostly tongue-in-cheek, interest in old spiritualism - Crowley, Rider-Waite, Golden Dawn, alchemy, Eteilla... - i don't think any of it is "real" but boy howdy can they write screeds on the relationship of quartz to the smell of petrichor, or exactly why going "shh" is a sacred act of the Egyptian diety Hoor-pa-Kraat
no I'm equating complexity of apparatus to individual effort of understanding the complexity.
Understanding a complex system has no bearing on the application of the complex system.
Understanding how the Linux kernel works would be no help in beet farming, that doesn't mean either endeavor is entirely worthless in context.