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There is a little problem here, though. In other scientific disciplines the "laws" are not time dependent. I.e. Chemical reactions in 1894 work just the same as
by Pamar 9y ago
There is a little problem here, though.
In other scientific disciplines the "laws" are not time dependent. I.e. Chemical reactions in 1894 work just the same as in 2017 or 3251.
On the other hand discovering that your country is sitting on a big oil field in 678 b.C. will not help your state budget at all, while in 1940 it could be enough for your neighbours to finance a war of invasion.
So being able to "explain" past economical phenomena is not very useful if you then cannot use the (now validated) model to guide present and future decisions.
- lottin 9y agoIt's true, although it's still useful in many instances if we take a more general approach. So, let's say that instead of focusing on the effects of discovering oil on the national budget, we could focus on studying the economics of natural resources in a more general sense. Here historical evidence could be perfectly useful.