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"A market economy presupposes a market ruled by supply and demand, free from regulatory interference." Science does not spent time on fantasy. Science is for t
by quadrangle 13y ago
"A market economy presupposes a market ruled by supply and demand, free from regulatory interference."
Science does not spent time on fantasy. Science is for things that exist in the observable world.
- fennecfoxen 13y agoExcuse me. I spent some hours in high school physics learning the non-relativistic way to add velocity vectors, to say nothing of simplifying assumptions ignoring friction or wind resistance. Turns out it's a pretty good approximation in a variety of common cases. This is as much "fantasy" science as the example you're complaining about is "fantasy" economics, and either are darned useful ways to idealize problems where the discrepancies between the real world and the fantasy world are small. Now if you'll excuse me, I'm off to go work on my Turing machine with infinite memory and all that jazz...
- Mikeb85 13y agoThere are markets in this world where governments cannot reach. There are also planned markets, and everything in between. Economics is as much theory as it is observation. Much like other sciences, for example, math and physics.