5 ms·

Can you elaborate on the 'pile of mud' fundamentals of economics? I've always been inclined to agree, but then I consider my biases in this regard, but also my

by mercer 8y ago

Can you elaborate on the 'pile of mud' fundamentals of economics? I've always been inclined to agree, but then I consider my biases in this regard, but also my own field, psychology, and pause. If you subdivide 'science' into various fields, psychology is definitely on much shakier grounds than has often ben assumed. But if you subdivide 'psychology', the picture isn't as clear. I'd say marketing and the broader field of persuasion/propaganda, or something like group dynamics, has a much firmer basis in reality than, say, psychopathology or evolutionary psychology. I'm very curious if people who are well-versed in economics can make similar distinctions, because I find it hard to believe it's 'all' mud.

DougMerritt 8y ago
People are very prejudiced against economics because economists don't predict well and have contradictory policy recommendations, but the basis of economics is quite solid. (My favorite illustration: if there were no underlying laws to economics, then dictators would just issue edicts about currency and markets which would then just plain work rather than causing havoc -- and yet dictators very much suffer side effects of their dictates.) This is very similar to weather prediction, which in some geographical areas is very untrustworthy, but not because its scientific foundation is lacking. Psychology has subareas that are very rigorous and evidence based, but also major foundational areas that remain essentially speculative/opinion-based (what is mind/consciousness/free will?) Evolutionary psychology is again firmly rooted, but is most famous for its speculative and unproven areas. Marketing and persuasion/propaganda have subareas that incorporate statistics and/or psychology and/or sociology etc., but are not themselves actually sciences at all, so that's very much apples and oranges.
- DougMerritt 8y ago
  Really, I got downvoted for something where every word was inarguably true in the sense of objective fact not opinion, and informative about half a dozen subjects? This place is as bad as reddit and slashdot. I haven't returned here very often over the years; this kind of experience makes one feel unwelcome.
  - amanaplanacanal 8y ago
    My best advice is to quit caring about the downvotes.
  - dang 8y ago
    People often come along eventually and correct unfair downvotes. That's one reason the site guidelines ask you not to complain about getting downvoted; by the time most people read the complaint, it's obsolete. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

by mercer 8y ago

DougMerritt 8y ago

People are very prejudiced against economics because economists don't predict well and have contradictory policy recommendations, but the basis of economics is quite solid. (My favorite illustration: if there were no underlying laws to economics, then dictators would just issue edicts about currency and markets which would then just plain work rather than causing havoc -- and yet dictators very much suffer side effects of their dictates.) This is very similar to weather prediction, which in some geographical areas is very untrustworthy, but not because its scientific foundation is lacking. Psychology has subareas that are very rigorous and evidence based, but also major foundational areas that remain essentially speculative/opinion-based (what is mind/consciousness/free will?) Evolutionary psychology is again firmly rooted, but is most famous for its speculative and unproven areas. Marketing and persuasion/propaganda have subareas that incorporate statistics and/or psychology and/or sociology etc., but are not themselves actually sciences at all, so that's very much apples and oranges.

DougMerritt 8y ago
Really, I got downvoted for something where every word was inarguably true in the sense of objective fact not opinion, and informative about half a dozen subjects? This place is as bad as reddit and slashdot. I haven't returned here very often over the years; this kind of experience makes one feel unwelcome.
- amanaplanacanal 8y ago
  My best advice is to quit caring about the downvotes.
- dang 8y ago
  People often come along eventually and correct unfair downvotes. That's one reason the site guidelines ask you not to complain about getting downvoted; by the time most people read the complaint, it's obsolete. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html