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Economics

Anonymous Fri 16 Apr 12:36:52 2021 No.12983272 View Reply Original Report

Quoted By: >>12983288 >>12983347 >>12983356 >>12984866

Is economics the biggest larp in academic history?
>NOOOO we are a natural science, can't you see that we use hecking Mathematics?
>What do you mean I can't just assume perfect rationality, omniscience and multinational conglomerations existing for a 0 net gain - what about my perfect competitionerino?
>Ooops the financial markets crashed cause they didn't function according to our flawless theories? Well better luck next time!

Anonymous

Anonymous Fri 16 Apr 2021 12:41:32 No.12983288 Report

Quoted By: >>12983347

>>12983272
I downloaded a this stock image just for this thread. Don't ignore me, nerds

Anonymous

Anonymous Fri 16 Apr 2021 12:58:05 No.12983347 Report

Quoted By: >>12983598

>>12983288
This is a shit thread but I'll indulge you because I'm in a good mood.
>>12983272
>NOOOO we are a natural science, can't you see that we use hecking Mathematics?
I never saw an economist say this. They all know it's a social science and are in no way feeling insecure over it.
>What do you mean I can't just assume perfect rationality, omniscience
Most research deals with information acquisition, risk, ambiguity, etc. so this isn't even a good criticism.
>multinational conglomerations existing for a 0 net gain
I'm assuming you're talking about zero economic profit in perfect competition. Economic profit isn't the same as accounting profit. You can make accounting profit and no economic profit (or indeed make accounting profit and make negative economic profit) because the alternate means of making money are taken into account. For example, if you're a paid shill who earns $5 an hour shitposting on 4chan but you could make $10 an hour loaning out your computer, are you really making a profit? That's the difference between accounting profit and economic profit. Economic profit takes into account your opportunity costs.
>Ooops the financial markets crashed cause they didn't function according to our flawless theories
Economic crises are actually well understood.
>why can't economists predict when the next crisis will strike
Why can't physicists predict exactly where a particle will be at any point? What a stupid criticism. We're dealing with stochastic processes and we're not omniscient.

Anonymous

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Anonymous Fri 16 Apr 2021 13:01:54 No.12983356 Report

Quoted By: >>12983995 >>12984744

>>12983272
Learn Actuary instead OP, it's the only economics discipline closest to actual sciences

Anonymous

Anonymous Fri 16 Apr 2021 14:08:07 No.12983598 Report

Quoted By: >>12984187

>>12983347
>They all know it's a social science and are in no way feeling insecure over it.
kek stop lying through your teeth
first it was removing "political" from political economy
then it was making it "economic sciences"
the subject, like its proponents, is shifty and untrustworthy

Anonymous

Anonymous Fri 16 Apr 2021 15:55:58 No.12983995 Report

Quoted By:

>>12983356
Seconded

Anonymous

Anonymous Fri 16 Apr 2021 16:42:10 No.12984187 Report

Quoted By:

>>12983598
>first it was removing "political" from political economy
Because although economics has overlap with political science, they're not the same thing.
>then it was making it "economic sciences"
In the sense that it's social sciences. OP is saying economists think they're doing hard science which isn't the case.

Anonymous

Anonymous Fri 16 Apr 2021 18:09:28 No.12984744 Report

Quoted By:

>>12983356
Actuarial science is applied probability and calculus (FM), so it is science. The closest to economics you get is when you have to study insurance-annuity markets.

Anonymous

Anonymous Fri 16 Apr 2021 18:26:51 No.12984866 Report

Quoted By:

>>12983272
Economics had a chance to be in the realm of an actual science which serves humanity's interests, but the greedy and delusional billionaire rulers who reap the benefits of an infinite growth system had their public relations committees and political lap thingies steer the field in an entirely different direction - that of an irrational and self-indulgent religious ethos.

https://en.wikipedia.org/wiki/Nicholas_Georgescu-Roegen

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