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This is the exact rationale and hope in the field but it a false hope. I'm not opposed to using math but as your comment implies, humans are not atoms or partic
by dmfdmf 15y ago
This is the exact rationale and hope in the field but it a false hope. I'm not opposed to using math but as your comment implies, humans are not atoms or particles like in Physics and the subject requires different methods than the physical sciences. Economics is more closely allied with the methods of Psychology or Ethics, identifying and validating basic principles such as the examples I mentioned which require no math to understand. The proof of these principles are validated via logic and observation of human action not mathematical proofs. This methodology was dismissed as non-scientific early last century and, in the context at the time with very successful mathematical Physics, the mathematical economists took over the profession to counter the charges of not really being a science since there was no math equations.