3 ms·
I think this is a valid response but ultimately an invalid comparison. The laws of physics are specific and testable. When we abstract them from reality we ca
by anm89 7y ago
I think this is a valid response but ultimately an invalid comparison.
The laws of physics are specific and testable. When we abstract them from reality we can be very clear about what the abstractions are and the rules of the hypothetical world we are testing the abstractions in.
In economics the situation is very different. We don't even waste time trying to define how things work in reality. All that exists are the abstractions and its never clear in which hypothetical universe those abstractions are being tested because even the poeple writing the theories frequently don't bother with defining them and then change the rules as people challenge their theories.