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Author Topic: Is Austrian Economics BS?  (Read 14258 times)

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Re: Is Austrian Economics BS?
« Reply #45 on: April 20, 2011, 11:27:12 AM »

No degree at all. Ok, Associates in Electronics. Might as well be nothing.

Science is the scientific method.

Observe phenomenon.
Form a hypothesis.
Test hypothesis.
If hypothesis fails, throw out old hypothesis and return to step 2.
If hypothesis is confirmed, pronounce it a theory and if it doesn't work for anyone else, throw it out and return to step 2.
If theory is repeatable, confirmable and consistent, it will eventually be confirmed as a scientific fact.

That's it. That's science. On to the next phenomenon.
"I regret that I am now to die in the belief that the useless sacrifice of themselves by the generation of 1776 to acquire self-government and happiness to their country is to be thrown away by the unwise and unworthy passions of their sons, and that my only consolation is to be that I live not to weep over it."
-- Thomas Jefferson, April 26th 1820
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