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3 & 4 are blatantly false. Economics isn't concerned with morality or demographics (beyond the study of their statistical facts). Concerning these, the question

3 & 4 are blatantly false. Economics isn't concerned with morality or demographics (beyond the study of their statistical facts). Concerning these, the question should arise: What do these statements even mean? The Efficient Market Hypothesis has consistently held true, especially in the long term and with respect to indexes and mutual funds. Some of the implications and conclusions drawn from the hypothesis are audacious, but the hypothesis itself is sound. https://www.hindawi.com/journals/ecri/2013/238253/ https://www.hindawi.com/journals/ecri/2013/238253/ http://www.ccsenet.org/journal/index.php/ijsp/article/view/17911 http://www.ccsenet.org/journal/index.php/ijsp/article/view/1... Price is absolutely a indication of cost and/or value, at the time of exchange. Rational Choice Theory is empirically sound https://www.annualreviews.org/doi/abs/10.1146/annurev-soc-071811-145441 https://www.annualreviews.org/doi/abs/10.1146/annurev-soc-07... https://journals.sagepub.com/doi/10.1177/0951692899011002001 https://journals.sagepub.com/doi/10.1177/0951692899011002001 Although Classical Economics is empirically shakey is some respects, Neoclassical are not

CharlesColeman 8y ago
> 3 & 4 are blatantly false. Economics isn't concerned with morality or demographics (beyond the study of their statistical facts). I don't think that's correct. Economic theories make statements about the distribution of resources, which is an intensely moral question. They also tend to be tightly wrapped up with political ideology, which makes them even more moral.
- defaultprimate 8y ago
  It isn't though, it's entirely objective.
  - CharlesColeman 8y ago
    > It isn't though, it's entirely objective. That's an extraordinarily strong claim that requires some extraordinary evidence and exposition. When economics intersects with politics, business, laymen, or reality I think it only has pretensions of objectivity.
    - defaultprimate 8y ago
      Subjective conclusions and actions based on objective data do not make the data any less objective.
- Nasrudith 8y ago
  Those are implications really - as are political ideologies based upon what people do with it. Similarly demographics are a reflection of current society - it doesn't tell you /why/ it is the case. Pointing out that the true father may have implications for a family and society but that doesn't make genetics a moral question.
  - defaultprimate 8y ago
    Really appreciate this comment. It's succinct and eloquently states the sentiment I was trying to express.
  - CharlesColeman 8y ago
    > Those are implications really - as are political ideologies based upon what people do with it. When programmers talk about economics, they're pretty much always talking about the implications and political ideologies that surround them, not the abstract nuances of some theory for its own sake.
vonmoltke 8y ago
Did you read your own citations? https://www.hindawi.com/journals/ecri/2013/238253/ https://www.hindawi.com/journals/ecri/2013/238253/ presents evidence rejecting even the weak-form EMH.

CharlesColeman 8y ago

> 3 & 4 are blatantly false. Economics isn't concerned with morality or demographics (beyond the study of their statistical facts). I don't think that's correct. Economic theories make statements about the distribution of resources, which is an intensely moral question. They also tend to be tightly wrapped up with political ideology, which makes them even more moral.

defaultprimate 8y ago
It isn't though, it's entirely objective.
- CharlesColeman 8y ago
  > It isn't though, it's entirely objective. That's an extraordinarily strong claim that requires some extraordinary evidence and exposition. When economics intersects with politics, business, laymen, or reality I think it only has pretensions of objectivity.
  - defaultprimate 8y ago
    Subjective conclusions and actions based on objective data do not make the data any less objective.
Nasrudith 8y ago
Those are implications really - as are political ideologies based upon what people do with it. Similarly demographics are a reflection of current society - it doesn't tell you /why/ it is the case. Pointing out that the true father may have implications for a family and society but that doesn't make genetics a moral question.
- defaultprimate 8y ago
  Really appreciate this comment. It's succinct and eloquently states the sentiment I was trying to express.
- CharlesColeman 8y ago
  > Those are implications really - as are political ideologies based upon what people do with it. When programmers talk about economics, they're pretty much always talking about the implications and political ideologies that surround them, not the abstract nuances of some theory for its own sake.

vonmoltke 8y ago

Did you read your own citations? https://www.hindawi.com/journals/ecri/2013/238253/ https://www.hindawi.com/journals/ecri/2013/238253/ presents evidence rejecting even the weak-form EMH.