It’s easy to answer the question about chemistry or ancient Greek or any settled science. But there’s a problem with economics, even first-year economics. Economics isn’t settled.
Good text. But do you think that it is better for newcomers in economics to study a diverse list of materials, that have diferent approaches to economy (including not only liberal and libertarian material, but also Marxist, keynesian, statistic, egalitarian and other approaches)?
The world does not NEED a single, “settled” theory of business cycles, economic growth, etc. It needs the cognitive capacity for multidimensional thinking, that is, the ability to recognise that the practical relevance of any theory largely (if not entirely) depends on context and on its interaction with multiple economic, institutional, social, cultural and political factors.
Science is never settled until they reach a "law" of nature. Economics - a beautiful art - is never settled becasue of our belief systems, heuristics, and biases. Also, the idea of the rational actor - well, the person has never existed. But in some fields, the science has come close to reasonably predictable outcomes.
However, $5 will get you $15, that if 8 children under 12 years of age are playing around a fountain for 10 minutes, at least one will be soaking wet.
Keep writing and posting. I greatly value your work.
By the end, I could've heard Noahopinion smiling nervously in the background. I like his columns though - the two I've read; recommending them at a cocktail party? no, thank you.
Good text. But do you think that it is better for newcomers in economics to study a diverse list of materials, that have diferent approaches to economy (including not only liberal and libertarian material, but also Marxist, keynesian, statistic, egalitarian and other approaches)?
The world does not NEED a single, “settled” theory of business cycles, economic growth, etc. It needs the cognitive capacity for multidimensional thinking, that is, the ability to recognise that the practical relevance of any theory largely (if not entirely) depends on context and on its interaction with multiple economic, institutional, social, cultural and political factors.
Science is never settled until they reach a "law" of nature. Economics - a beautiful art - is never settled becasue of our belief systems, heuristics, and biases. Also, the idea of the rational actor - well, the person has never existed. But in some fields, the science has come close to reasonably predictable outcomes.
However, $5 will get you $15, that if 8 children under 12 years of age are playing around a fountain for 10 minutes, at least one will be soaking wet.
Keep writing and posting. I greatly value your work.
By the end, I could've heard Noahopinion smiling nervously in the background. I like his columns though - the two I've read; recommending them at a cocktail party? no, thank you.