It's ridiculous that some people consider economics a "science"

[montrel]

@esther90 That’s looking through the telescope backwards. The economies of people, civilisations, nations, the material availability and the scarcity and the challenges shape the desire, and shape culture.

What our modern models try to predict is a specific kind of global consumerism.

 

[paska]

@oxid A monetary system that isn't manipulated by the banks would be more transparent.

 

[oxid]

@paska That’s not a solution. That’s a wish. What will that system look like?

 

[supercow]

@oxid When workers were striking for better living conditions, they asked them "and what do you propose, what's the solution" and they said better pay and 40-hour work week. They responded to them literally what you said "that's not a solution, that's a wish".

So a system can be changed if it doesn't work for most people and if in fact most people are worse off. But some people are too short sighted to even see the possibility, so there's that.

 

[resjudicata]

@supercow Perhaps the majority just don’t agree with you champo

 

[paska]

@oxid It's both a solution and a wish. The system would look more transparent.

 

[godly_wife]

@oxid Yes, actual government transparency.

 

[rexcollis45]

@supercow There is economics science - the part that accumulates data and measures outcomes and tests hypotheses in reproduceable fashion.

Economists, the Reserve Bank and the TV talking heads are not practicing science when they make predictions!

 

[danixc]

@supercow If you think any one on the board implements basic scientific practices to come to their conclusion then you may be in for a shock.

 

[dadto2]

@supercow It's literally a science. I don't know what else to say but to tell you you're wrong.

 

[thewayofholiness]

@supercow All minutes are like this unless it’s a law firm. And economics is considered a science, like anthropology and psychology is. It’s the study of human behaviours.

 

[dpardue]

@thewayofholiness It might be considered a science by a couple economists.

It's pretty dismal though.

 

[thewayofholiness]

@dpardue It is a science.

Whether you think it’s a worthwhile occupation/career is separate.

 

[dpardue]

@thewayofholiness What makes you call it a science?

To me it seems to be bordering on a social science, where social sciences are known for making up a bunch of stuff and then fail to be able to replicate any of their studies. Making the claim to be a subset of science look a trifle dubious.

 

[thewayofholiness]

@dpardue It’s the study of human behaviours. What makes psychology or anthropology a science?

I’m not the one making up the categories here, it’s not based on my “vibes”. If you disagree, go ahead, doesn’t change a thing.

 

[dpardue]

@thewayofholiness Psychology and Anthropology have similar issues. Some within are scientists and some aren't and that makes it difficult to call them all scientists.

Similarly there are people drawing pretty pictures, calling it technical analysis, who deserve nothing more than to be known as the modern day equivalent of phrenologists.

 

[montrel]

@thewayofholiness It’s not study, it’s an assertion about human behaviours.

 

[resjudicata]

@thewayofholiness A science of incorrect predictions.

 

[thewayofholiness]

@resjudicata Like weather predictions I guess.

 

[skeeboat]

@supercow Science deals with uncertainty all the damn time. Economics isn't exact, but it is scientific in its approach. Economists really don't make a habit of saying that things will definitely happen in a certain order or that if we just pull X lever there's going to be y consequence. Mostly, the media loves going fishing for a headline to sell, and spins stuff out of control.