3 ms·
Perhaps induction and deduction? In any case, this is the basis behind economics as I understand it; taking data and then reasoning from there to more generaliz
by azanar 19y ago
Perhaps induction and deduction? In any case, this is the basis behind economics as I understand it; taking data and then reasoning from there to more generalized models. Then those models can be used in future studies as a means to both reconcile the data, and to improve upon the models. There are several schools of thought, each with their own models, and each arguing that the other models are wrong due to particular reasons. This is not much unlike philosophy, except it deals with money instead of ethics and motivations.