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cavalier973

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Re: Is Austrian Economics BS?
« Reply #30 on: April 10, 2011, 09:47:14 PM »

http://www.thedailybell.com/1036/Mark-Thornton-on-Lincolns-Folly-the-Civil-War-and-the-Impact-of-the-Business-Cycle.html

" Austrian economics is attractive because it is conceptual not mathematical. One does not have to be facile with multiple forms of numerical analysis to understand the main concepts of Austrian economics. In fact, one of the most important precepts of Austrian economics is that trend-analysis using various kinds of forward looking numerical analysis doesn't work. This is because of human action itself, which tends to adapt far in advance of the realization of whatever trend is being analyzed.

In fact, this is one of several elements of Austrian economics that drives statists wild. Since there are no good answers to Austrian human-action analysis, Austrian economics is simply ignored (even today) in many academic venues and certainly by most Western governments. Governments in the West are choc-a-block full of econometric economists plying their trade. The tragedy of econometrics is that it emerged AFTER the bifurcation of classical and neo-classical economics. In other words, there is no excuse for it."
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cavalier973

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Re: Is Austrian Economics BS?
« Reply #31 on: April 10, 2011, 09:50:36 PM »

"Human beings are not merely passive integers that sit in one place perched on a spreadsheet waiting dumbly for disaster to strike. Thus it is that those who practice econometrics (a discipline that partakes of basic flaw of classical economics) are in a sense disdainful of the marketplace and contemptuous of the human genius for improvisation, as their theoretical approach does not truly allow for it.

In contrast to those who practice econometrics comes someone like Thornton who sees any one of a number of areas to apply the science of Austrian economics. The great Murray Rothbard practiced economics similarly. There were few if any areas that Rothbard left untouched in his omnivorous approach to economic analysis. He applied his disciplined free-market point of view to most any subject matter, yet all of his analysis was rooted in a profound understanding of economic principles including of course marginal utility, Say's law, etc.

Thornton and many others at the von Mises Institute (and other practicing Austrians around the world) are heir to the joyful Austrian/Rothbardian/Misesian approach to economics. Nothing is off limits and everything connected. That's as it should be. Such an approach is certainly an inspiration to any person, young or old, seeking to more thoroughly explore free-market economics and the generous understanding it offers."

http://www.thedailybell.com/1036/Mark-Thornton-on-Lincolns-Folly-the-Civil-War-and-the-Impact-of-the-Business-Cycle.html

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Bill Brasky

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Re: Is Austrian Economics BS?
« Reply #32 on: April 12, 2011, 10:13:54 PM »

the computer industry was just taking off in the early 80's with home computers, Microsoft, and the rudimentary Internet, driving down costs of doing business enough to give companies extra cost savings that they could then invest.  Government spending increased at a high rate during Reagan's tenure; maybe that provided the boost the economy needed.

The Reagan boom was Post-Vietnam recovery.  Vietnam was a technological tipping point, and brought about some heavy stuff.  Transistors over tubes, medical science advancements, that sort of thing.  Cable television.  And HUGE military spending, which radiates out in a million directions to the private sector - the result of which is prosperity (on the kitchen-table level).

The Clinton boom was the internet boom.  Naturally, the roots of that extend to the prior Reagan administration.  But the actual bulk of that period occurred within the Clinton years.  Obviously culminating in the DotCom crash in March 2000. 

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Re: Is Austrian Economics BS?
« Reply #33 on: April 14, 2011, 10:10:52 PM »

Bad video is bad. Seriously, by this dude's logic Computer Science isn't a science (hint: it is, if you understand that science simply means an exact ordering of knowledge per some conditions).
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Cognitive Dissident

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Re: Is Austrian Economics BS?
« Reply #34 on: April 15, 2011, 11:11:58 PM »

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Re: Is Austrian Economics BS?
« Reply #35 on: April 16, 2011, 10:54:15 AM »

http://www.experiment-resources.com/

You'll notice that in the website Mathematics, Computer Science, and Logic aren't in there (correctly so as these don't apply the scientific method).
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Cognitive Dissident

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Re: Is Austrian Economics BS?
« Reply #36 on: April 16, 2011, 12:50:58 PM »

http://www.experiment-resources.com/

You'll notice that in the website Mathematics, Computer Science, and Logic aren't in there (correctly so as these don't apply the scientific method).

All science applies the scientific method.  You can argue that someone's not practicing science if you want, but "science simply means an exact ordering of knowledge per some conditions" is inaccurate, at best.  Science and the scientific method are inseparable.
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Turd Ferguson

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Re: Is Austrian Economics BS?
« Reply #37 on: April 16, 2011, 01:09:29 PM »

http://www.experiment-resources.com/

You'll notice that in the website Mathematics, Computer Science, and Logic aren't in there (correctly so as these don't apply the scientific method).

So I assume correctly that you belong to the 1 +1 might not = 2 crowd?
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Re: Is Austrian Economics BS?
« Reply #38 on: April 17, 2011, 12:14:28 PM »

http://www.experiment-resources.com/

You'll notice that in the website Mathematics, Computer Science, and Logic aren't in there (correctly so as these don't apply the scientific method).

All science applies the scientific method.  You can argue that someone's not practicing science if you want, but "science simply means an exact ordering of knowledge per some conditions" is inaccurate, at best.  Science and the scientific method are inseparable.

Nope.avi
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Cognitive Dissident

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Re: Is Austrian Economics BS?
« Reply #39 on: April 17, 2011, 09:17:56 PM »

http://www.experiment-resources.com/

You'll notice that in the website Mathematics, Computer Science, and Logic aren't in there (correctly so as these don't apply the scientific method).

So I assume correctly that you belong to the 1 + 1 might not = 2 crowd?

But of course.  In science, we form a hypothesis and we test that hypothesis, and we report our findings.  If our findings are not as hypothesized, we start over.  This is science.  We know 1 + 1 = 2 because it's been demonstrated, under countless conditions, to produce the same result.

Anything else calling itself science is fraud.
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Re: Is Austrian Economics BS?
« Reply #40 on: April 17, 2011, 09:34:19 PM »

Then by your logic, Computer science isn't a science. I suggest you actually read about philosophy of science outside of Popper (I love the dude, but he got quite a few things wrong there).
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Cognitive Dissident

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Re: Is Austrian Economics BS?
« Reply #41 on: April 17, 2011, 09:44:32 PM »

Then by your logic, Computer science isn't a science. I suggest you actually read about philosophy of science outside of Popper (I love the dude, but he got quite a few things wrong there).

Of course it's science.  A computer scientist confirms hypotheses regularly.  FWIW, I have a degree from an engineering school, and they made it pretty obvious what makes science.  I'm sorry your experience has been inadequate.
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Re: Is Austrian Economics BS?
« Reply #42 on: April 18, 2011, 12:24:49 AM »

No, we don't confirm hypothesises(sp?). We focus on a proof, following the steps to make that proof to show it's correct. There's no empirical step. Even mathematical induction is only inductive within the predicate of the given equation, but not inductive (proper) in the wider world. Computer Science is a science because it follows an organizing principle that makes it exact. A natural science is a science for the same reason, but it needs to follow additional methods (what is known as the scientific method) to make it work. This is why your Positivist position is wrong. Only a handful in philosophy follow it (Dennett and company are decidedly the last remnant of the Positivist/Analytic position).  

Edit: also, Computer Engineering isn't Computer Science. I have a degree in the latter, and I am working on my Masters in it at present.
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Cognitive Dissident

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Re: Is Austrian Economics BS?
« Reply #43 on: April 19, 2011, 02:48:23 PM »

Junk science comes from minds like these.  Keep spouting bullshit like that, and you'll go a long way toward reversing the progress that brought the human race out of the dark age.

'nuf said


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« Last Edit: April 21, 2011, 01:57:45 PM by What's the frequency, Kenneth? »
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LTKoblinsky

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Re: Is Austrian Economics BS?
« Reply #44 on: April 19, 2011, 04:26:33 PM »

Wow, two people who hold degrees in similar fields can't even agree on what science is. BTW, I think WTFK has this one. "an exact ordering of knowledge per some conditions" is called a system, and science uses those. Science is defined by its methods, not its results. BTW, Econ degree here.
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