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If an econ forum started a discussion of physics with discussion of what the ether teaches us, it would be quickly dismissed. Yet HN's fine, again, with the equ
by zhte415 3y ago
If an econ forum started a discussion of physics with discussion of what the ether teaches us, it would be quickly dismissed. Yet HN's fine, again, with the equivalent as the starting block, indeed highest voted comment, for discussion of an econ topic. Wisdom of the crowds perhaps, though crowds of people did once stone crows.
- honkycat 3y agoweak argument. econ and physics are two wildly different fields. you are comparing a natural science to a social science.
- ikiris 3y agoIf an econ forum started discussing gravity, there'd be some austrian physics guy yelling about how the invisible hand of the market pushes down on everyone.
- mlyle 3y agoEcon indeed does teach us what the poster suggests, in perfect competition. If we're finding that lots of businesses have substantial pricing power, such that it's a driver of inflation (and this is open to debate)... then it looks like we have a whole lot of really imperfect competition.
- praptak 3y agoEcon can't hold a light to physics in terms of falsifiability of hypotheses yet people still treat it as hard science.