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Why is Economics filled with unnecessary math?

Anonymous Tue 19 Oct 14:05:29 2021 No.13768162 View Reply Original Report

Quoted By: >>13768179 >>13768209 >>13768391 >>13768406 >>13768437 >>13768750 >>13769425 >>13769461 >>13769482 >>13777871 >>13777983

Anonymous

Anonymous Tue 19 Oct 2021 14:10:03 No.13768179 Report

Quoted By: >>13768192 >>13769907 >>13772848 >>13777976 >>13778479

>>13768162
There is no economics that's all in your head.
There is only physics chemistry and biology.
History, psychology, economics, food science, this all is just fictional in your stupid brain.

Anonymous

Anonymous Tue 19 Oct 2021 14:17:16 No.13768192 Report

Quoted By: >>13768437 >>13777976

>>13768179
I completely agree. I really do. I was just asking why do they put unnecessary math in Economics? It does almost nothing.

Anonymous

Anonymous Tue 19 Oct 2021 14:26:11 No.13768209 Report

Quoted By: >>13768437 >>13769421 >>13773345 >>13777884

>>13768162
>Economists get made fun of for having a soft science on par with psychology
>They get upset and throw a fit
>"No no no!!! it's real science!!! we do addition and subtraction and we calculate shit I swear!!!"
>Everyone laughs
>Economists add a bunch of fancy math to impress everyone
>No one cares
>Constantly envy physics

Anonymous

Anonymous Tue 19 Oct 2021 14:28:12 No.13768213 Report

Quoted By: >>13768437 >>13769478

Because it's a pseudoscience that depends on the whims of the decade of the neoliberal robber baron class. In order to make it seem more rigorous, they unnecessarily formalize things in pure math language. People think "has math = rigorous, le science, correct, predictive validity" so it's good for funding and their image. Econ PhDs require you to take hte same analysis class as the math students. Would it change anything if they didn't? No, because it's unnecessary and performative garbage to rehabilitate a pseudoscientific fraud of a discipline.

Anonymous

Anonymous Tue 19 Oct 2021 15:25:27 No.13768391 Report

Quoted By:

>>13768162
Econometrics End of discussion

Anonymous

Anonymous Tue 19 Oct 2021 15:28:30 No.13768406 Report

Quoted By: >>13768437 >>13777976

>>13768162
Because the entire field is just bullshit.

Anonymous

Anonymous Tue 19 Oct 2021 15:36:49 No.13768437 Report

Quoted By: >>13769430 >>13769452

>>13768192
>>13768209
>>13768213
>>13768406
>t. financially illiterate

>>13768162
Its not unnecessary, when you are dealing with many random variables constantly changing with time and at the whim of abstract notions of "policy" the math becomes complex.

Anonymous

Anonymous Tue 19 Oct 2021 17:19:49 No.13768750 Report

Quoted By:

>>13768162
imagine getting filtered by basic set theory and statistics

Anonymous

Anonymous Tue 19 Oct 2021 20:33:40 No.13769421 Report

Quoted By:

>>13768209
Yes free will is a hell of a thing

Anonymous

Anonymous Tue 19 Oct 2021 20:35:33 No.13769425 Report

Quoted By:

>>13768162
Penis envy

Anonymous

Anonymous Tue 19 Oct 2021 20:37:12 No.13769430 Report

Quoted By:

>>13768437
>deep thinking
Bullshit it just goes "need funding start the printers".

Anonymous

Anonymous Tue 19 Oct 2021 20:44:09 No.13769452 Report

Quoted By: >>13770894 >>13772513

>>13768437
>random changes
As if real analysis would help you manage with randomness

Anonymous

Anonymous Tue 19 Oct 2021 20:49:10 No.13769461 Report

Quoted By:

>>13768162
It is not really needed. Only, all the successful guys and girls know exactly how to apply
Kalman filters. If you are not interested, you are free to pursue Home Economics.

Anonymous

Anonymous Tue 19 Oct 2021 20:54:16 No.13769478 Report

Quoted By: >>13769486

>>13768213
Not sure if you have taken high level microeconomics courses but in my opinion the mathematical formalization of game theory and concepts like utility seem pretty important. In practice however, it seems like none of those things are really important when you look at what economists are actually publishing outside of people who research really obscure topics in things like game theory and market design.

Anonymous

Anonymous Tue 19 Oct 2021 20:56:18 No.13769482 Report

Quoted By: >>13775819

>>13768162
Elementary linear algebra is useful for running a Soviet economy and likely for analyzing a free market economy. The most complex it ever gets is a theorem that states you can find a combination of prices and production quotas that makes mathematical sense, as in you can order quotas and prices that wont bankrupt the producers nor ask for impossibles like ordering for 1000 tons of steel quota but only for 500 tons of iron ore from the mine.

Anonymous

Anonymous Tue 19 Oct 2021 20:57:51 No.13769486 Report

Quoted By:

>>13769478
Phuuuuuleeeeesaee... Game theory? Lmao, GTFO with that penor envy

Anonymous

Anonymous Tue 19 Oct 2021 20:59:41 No.13769491 Report

Quoted By: >>13769858

mathlet here. what is this notation called?

Anonymous

Anonymous Tue 19 Oct 2021 23:04:38 No.13769858 Report

Quoted By: >>13770722

>>13769491
pls respond

Anonymous

Anonymous Tue 19 Oct 2021 23:23:36 No.13769907 Report

Quoted By:

>>13768179
>physics chemistry and biology.
thats also all in your head

Anonymous

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Anonymous Wed 20 Oct 2021 00:03:25 No.13770025 Report

Quoted By: >>13770035 >>13770134 >>13772788 >>13775832

>useless math

Quants write and apply math formulas to real life markets all day and earn millions by doing so. There's a reason for why Wall Street hires rocket scientists.

Economics is the study of how to maximize efficient resource allocation in a world of inefficient and irrational actors. It's basically applied mathematics on crack.

Anonymous

Anonymous Wed 20 Oct 2021 00:09:07 No.13770035 Report

Quoted By: >>13770063

>>13770025
Quants are usually ex physics PhDs -- almost never econ. Some traders are ex econ, but only undergrad.

Economics claims to be the study of efficient allocation of resources, but the theories aren't predictive.

Anonymous

Anonymous Wed 20 Oct 2021 00:17:12 No.13770063 Report

Quoted By: >>13770418 >>13770665 >>13770870

>>13770035
If the theories aren't predictive then explain what central bankers do for a living.

Anonymous

Anonymous Wed 20 Oct 2021 00:37:58 No.13770134 Report

Quoted By:

Economics is the alchemy of the modern day. Even something as simple as the supply and demand curve is entirely an abstract model with no correspondence to the real world.

>>13770025
Quants do use fancy math at times, but its quite different from what economists are up to. It's more statistics and control theory kinda stuff.

Anonymous

Anonymous Wed 20 Oct 2021 02:53:56 No.13770418 Report

Quoted By: >>13770424 >>13770672

>>13770063
How do you verify if a central bank is doing a good job with it's policy?

Anonymous

Anonymous Wed 20 Oct 2021 02:55:48 No.13770424 Report

Quoted By:

>>13770418
keep tabs on how rich they are becoming from scamming everyone around them.

Anonymous

Anonymous Wed 20 Oct 2021 04:19:31 No.13770665 Report

Quoted By:

>>13770063
They lend M0 money to commercial banks. Next question plz.

Anonymous

Anonymous Wed 20 Oct 2021 04:22:05 No.13770672 Report

Quoted By:

>>13770418
Low inflation and high employment are the alleged good results of policies

Anonymous

Anonymous Wed 20 Oct 2021 04:37:46 No.13770722 Report

Quoted By:

>>13769858
set theory

Anonymous

Anonymous Wed 20 Oct 2021 05:49:19 No.13770870 Report

Quoted By:

>>13770063
No one appreciates what they do until everything goes to shit, then they just blame central bankers for it anyway.

Anonymous

Anonymous Wed 20 Oct 2021 06:03:13 No.13770894 Report

Quoted By: >>13772830

>>13769452
What is statistics?

Anonymous

Anonymous Wed 20 Oct 2021 17:52:02 No.13772513 Report

Quoted By: >>13772830

>>13769452
Nigger do you even stats 101

Anonymous

Anonymous Wed 20 Oct 2021 19:23:37 No.13772788 Report

Quoted By:

>>13770025

Topkek.

Are you a quant ? I am. And I don't do any maths.

Anonymous

Anonymous Wed 20 Oct 2021 19:38:46 No.13772830 Report

Quoted By:

>>13770894
>>13772513
Real analysis is not statistics.

Anonymous

Anonymous Wed 20 Oct 2021 19:47:31 No.13772848 Report

Quoted By: >>13777976

>>13768179
based

Anonymous

Anonymous Wed 20 Oct 2021 22:19:35 No.13773345 Report

Quoted By: >>13774545

>>13768209
so economics are the trannies of science?

Anonymous

Anonymous Thu 21 Oct 2021 02:06:07 No.13774545 Report

Quoted By:

>>13773345
Not the only trannies but definitely biased.

Seriously, which "scientists" wear suits and that go to Davos Switzerland to decide of the fate of the world ?

Economic theories are not theories, they are politicies. And these policies make the weather. Monetary policies are god-like in their reach.

Check out this :
https://www.youtube.com/watchv=p5Ac7ap_MAY

Anonymous

Anonymous Thu 21 Oct 2021 12:17:35 No.13775819 Report

Quoted By: >>13776114

>>13769482
If all you needed was elementary linear algebra, why do all planned economies fail always? If you're only talking about allocating resources to state-owned factories, then you're not really talking about an economy in the first place.

Anonymous

Anonymous Thu 21 Oct 2021 12:23:02 No.13775832 Report

Quoted By:

>>13770025
Sorry to single you out, since so many people use the term, but there's no such thing as a "rocket scientist," unless you're literally a scientist (of any discipline) who works on rockets. It's just not a useful term for describing what sort of science a person does.

Anonymous

Anonymous Thu 21 Oct 2021 14:56:19 No.13776114 Report

Quoted By:

>>13775819
Corruption in ussr and niggerdom in the non Soviet commies

Anonymous

Anonymous Fri 22 Oct 2021 03:01:14 No.13777871 Report

Quoted By: >>13778015 >>13778393

>>13768162
To economists, math is just a universal language to express precisely what you mean, it's very useful for things like econometrics. The reason people still debate what Smith or Marx *really* meant was because they didn't use math. No one is debating different interpretations of a paper by Acemoglu or Mankiw because they use math. It's as simple as that. There isn't some ulterior motive to it as some people like to believe.

Anonymous

Anonymous Fri 22 Oct 2021 03:06:31 No.13777884 Report

Quoted By: >>13778465

>>13768209
Economists make more money than physicists and are taken more seriously on almost every topic. Why would they ever envy physicist?

Anonymous

Anonymous Fri 22 Oct 2021 03:57:58 No.13777976 Report

Quoted By:

>>13768179
>>13768192
>>13768406
>>13772848
Actual imbeciles

Anonymous

Anonymous Fri 22 Oct 2021 04:05:11 No.13777983 Report

Quoted By:

>>13768162
Imagine sigining up for an economics degree and NOT reading years of historical literature on economic thought, and doing this made up math shit instead.

Anonymous

Anonymous Fri 22 Oct 2021 04:19:47 No.13778015 Report

Quoted By: >>13778016

>>13777871
Ripped strait from r/economics

Anonymous

Anonymous Fri 22 Oct 2021 04:20:48 No.13778016 Report

Quoted By:

>>13778015
*straight

Anonymous

Anonymous Fri 22 Oct 2021 06:23:37 No.13778223 Report

Quoted By:

because economics is a pseudoscience, so they use mathematical equations to give "the illusion of science without any of its substance."

Anonymous

Anonymous Fri 22 Oct 2021 08:20:16 No.13778393 Report

Quoted By: >>13779950

>>13777871
Lol now you are stealing the "math is a language" meme. It isn't true, math books are mostly text and verbal explanation, every mathematical operation has text to explain whats going on. Math symbols are just shortcuts to avoid excessive text when you are referring to the same concept multiple times, so you can write 2+2 instead of typing "now you add upp the numbers 2 and 2".

Anonymous

Anonymous Fri 22 Oct 2021 09:08:00 No.13778465 Report

Quoted By:

>>13777884
Physicists are more respected, in the same way that monks and intellectuals are respected. It has nothing to do with money. NBA nogs make more money and nobody respects some bouncyballer.

Anonymous

Anonymous Fri 22 Oct 2021 09:14:36 No.13778479 Report

Quoted By:

>>13768179
What about Math, Science, and History?

Anonymous

Anonymous Fri 22 Oct 2021 19:37:42 No.13779950 Report

Quoted By:

>>13778393
How does this refute anything he said? Physicists also use math to explain things. This isn’t something unique to economics.

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