Economics should be approached as a powerful tool for fostering positive change and promoting equitable development. Achieving this requires the integration of rigorous data analysis with a nuanced understanding of human behavior and the complexities of societal needs. Economists must challenge outdated assumptions and ensure that policies are grounded in real-world conditions, reflecting the diversity of experiences and challenges faced by different communities. Prioritizing sustainable and inclusive growth is essential to building a resilient economic system that benefits all segments of society. Only through this holistic and conscientious approach can economics fulfill its true potential creating a fairer, more prosperous world for everyone.
1. inductive hypothesis 2. deduction of a conclusion 3. testing of conclusion against reality Jevons: assumptions must be realistic (real world applicable) "you can't get to the real world by logic alone" (RS)
Regarding model building I think economics could benefit from a broader philosofical and sociological approach. Abstraction involves important issues not mentioned here. "Ideal types" in Weber and "real abstraction" in Marx are examples of different approach to the abstraction problem.
The discussion almost immediately arrived at a conclusive point of reasoning, that "the (number) model" is practically useless unless it is the actual source of legitimate information. It's possible to project precise expectations onto situations, that is "magical thinking" that creates the future aimed for. Reductionist reasoning is "absolutely" the disassembled 1-0-infinity functional roots, constituents of all processes in/of QM-TIME Actuality, and that is the Observable infinitesimal Singularity-point constant creation cause-effect connection, e-Pi-i, the pure-math relative-timing Origin of inside-outside In-form-ation presence of coherence-cohesion wave-packaging probabilistic correlations, a POV in temporal holography. This is why Accurate Accounting is essential to a real economy, relative-timing, the Law of Conservation of Energy applies uniquely to every "angle" of re-evolution balanced circularity, the memory associations made by a congruent flash-re-cognition.., "you just look at it, and you notice " what you think you understand. Trancendental Meditation => ultimate transparency, Origin of conscious awareness. Correct Observation: "logic can only tell you about itself", because it is.., ("is"=> condensed function) e-Pi-i 1-0-infinity, sync-duration pure-math cause-effect circularity of bubble-mode quantization.., which is the same as saying "logic is logical", existence exists etc, a purely verbal POV in making a singular point of attention. An Absolute Zero-infinity reference-framing containment location, is making the definitive objective Real, (by 2D photographic evidence for example), putting focused 3D-T 2-ness i-reflection logarithmic condensation objectives, in temporal perspective. "Define your Terms" condensing parallel coexistence parameters by Mathematical Disproof Methodology as an optical analysis of the "Big Picture", Philosophically. Aka Modelling (?). Projection-drawing SiFi is intellectual modelling methodology of embedded inclusion-exclusion concept placement in a coherent narrative. Good enough.
I wonder what could be said about testing economic models in different economic systems. China's political system (democracy at the bottom, experiment in the middle, meritocracy at the top) seem to open a lot of opirtunities for real econonic experimentation. I would arguee that the problem of experimentation is not a limitation of economics itself but a limitation of the economic systems it operates in.
Any economic model, for the proposal of a better way of doing business function, should start with a detailed acceptable outline and picture; then define, the changes needed, and how quickly in phases, to manifest that obtainable goal. The voices with notable platform, "have" their piece of the pie (known for their much speaking) and only put out circle-talk, with complexity and do not want to change what works so well for them and their friends.
What's with the expressions of the girl on Skidelsky's left? looks like she has done a few gender studies courses before being selected for participation in these vids.
Economics should be approached as a powerful tool for fostering positive change and promoting equitable development. Achieving this requires the integration of rigorous data analysis with a nuanced understanding of human behavior and the complexities of societal needs. Economists must challenge outdated assumptions and ensure that policies are grounded in real-world conditions, reflecting the diversity of experiences and challenges faced by different communities. Prioritizing sustainable and inclusive growth is essential to building a resilient economic system that benefits all segments of society. Only through this holistic and conscientious approach can economics fulfill its true potential creating a fairer, more prosperous world for everyone.
1. inductive hypothesis
2. deduction of a conclusion
3. testing of conclusion against reality
Jevons: assumptions must be realistic (real world applicable)
"you can't get to the real world by logic alone" (RS)
Regarding model building I think economics could benefit from a broader philosofical and sociological approach. Abstraction involves important issues not mentioned here. "Ideal types" in Weber and "real abstraction" in Marx are examples of different approach to the abstraction problem.
The discussion almost immediately arrived at a conclusive point of reasoning, that "the (number) model" is practically useless unless it is the actual source of legitimate information. It's possible to project precise expectations onto situations, that is "magical thinking" that creates the future aimed for.
Reductionist reasoning is "absolutely" the disassembled 1-0-infinity functional roots, constituents of all processes in/of QM-TIME Actuality, and that is the Observable infinitesimal Singularity-point constant creation cause-effect connection, e-Pi-i, the pure-math relative-timing Origin of inside-outside In-form-ation presence of coherence-cohesion wave-packaging probabilistic correlations, a POV in temporal holography.
This is why Accurate Accounting is essential to a real economy, relative-timing, the Law of Conservation of Energy applies uniquely to every "angle" of re-evolution balanced circularity, the memory associations made by a congruent flash-re-cognition.., "you just look at it, and you notice " what you think you understand.
Trancendental Meditation => ultimate transparency, Origin of conscious awareness.
Correct Observation: "logic can only tell you about itself", because it is.., ("is"=> condensed function) e-Pi-i 1-0-infinity, sync-duration pure-math cause-effect circularity of bubble-mode quantization.., which is the same as saying "logic is logical", existence exists etc, a purely verbal POV in making a singular point of attention.
An Absolute Zero-infinity reference-framing containment location, is making the definitive objective Real, (by 2D photographic evidence for example), putting focused 3D-T 2-ness i-reflection logarithmic condensation objectives, in temporal perspective. "Define your Terms" condensing parallel coexistence parameters by Mathematical Disproof Methodology as an optical analysis of the "Big Picture", Philosophically. Aka Modelling (?).
Projection-drawing SiFi is intellectual modelling methodology of embedded inclusion-exclusion concept placement in a coherent narrative.
Good enough.
Randomized control trials are also questionable too as methodological tool
External validity problems can be somewhat overcome by using quasi-experimental data
Well, I am on the side of Deaton and all the victims of policies designed thinking in the RCT once the policy was implemented...
I wonder what could be said about testing economic models in different economic systems. China's political system (democracy at the bottom, experiment in the middle, meritocracy at the top) seem to open a lot of opirtunities for real econonic experimentation. I would arguee that the problem of experimentation is not a limitation of economics itself but a limitation of the economic systems it operates in.
Any economic model, for the proposal of a better way of doing business function, should start with a detailed acceptable outline and picture; then define, the changes needed, and how quickly in phases, to manifest that obtainable goal. The voices with notable platform, "have" their piece of the pie (known for their much speaking) and only put out circle-talk, with complexity and do not want to change what works so well for them and their friends.
If economics is not a science because of its difficulities , what should we do to solve them?
Oh kaimene..
Nifty
What's with the expressions of the girl on Skidelsky's left? looks like she has done a few gender studies courses before being selected for participation in these vids.