4 ms·
Before the theory happened? I don't follow. Edit: If you mean that you need to state the theory before you make the observation for the observed data to be va
by justin_vanw 11y ago
Before the theory happened? I don't follow.
Edit: If you mean that you need to state the theory before you make the observation for the observed data to be valid evidence for or against the theory, you are correct, this is very nearly contrapositive of the scientific method.
- iofj 11y agoThis is economics, not physics. Since we have institutions like the Fed and "fiscal policy" (where and if it differs from "government spends more money NOW") you cannot have a widely accepted economic theory without influencing the economy. Two things immediately come up when looking at economic theories: 1) a LOT of them (the ones "followed") are "by" high-level Fed officials. Biggest example: Keynesianism. 2) They all seem to have the same conclusions (government needs to spend more, either directly or through the fed or finance dept) 3) because these people want to but can't be bothered to manage an economy (meaning hundreds of thousands of small companies) they massively advantage large corps over everyone else.