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Mind the Theory

- Thorsten Polleit -

What utter nonsense! Poleitt has absolutely no idea of just how confused his reasoning actually is. To even imagine that we can know with absolute certainty how humans will act in a given situation without so much as even seeing how they behaved in past circumstances that were the same as those in the current situation is preposterous on its face. With very few exceptions can we know in an a priori fashion anything. Such an example might be that we know that we are alive without having to put it to the test. But there is little else that can be known with such certainty and most assuredly not in the field of economics. Presented with the same set of facts, one person might buy shares in some company while another might sell. We might like to believe that if we are happy and well adjusted, we would do what we could to preserve our own life and yet there are those who will rush into a burning building to rescue a total stranger. We might believe that murder is wrong and yet there have been societies that believed in human sacrifice, head hunting and canibalism.
To categoricly state that in the field of economics we need not rely upon empirical evidence is so utterly absurd as to qualify Poleitt for a bed in a sanitorium. If these truths are so self-evident, then why on earth have we been floundering for so long? i mean, do you ask yourself every day whether or not you exist?
Let me also add that Poleitt is mistaken to place logic on the same pedestal as mathematics. Logic can and has led to some very wrong conclusions. As but one example, logic led man to believe for millenia that the sun orbited the earth.
Claiming that there is no need to test a theory is an appeal to live in ignorance.

Commented 4270 days ago

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Beginning of the headline :I. The saying that things may work nicely in theory, but do not necessarily work in practice is well known.[1] It is typically meant to disparage the importance of theory, suggesting it would be too far removed from practical matters to help in solving the issue at hand. The Prussian philosopher Immanuel Kant (1724–1804), in his 1793 essay "On the Popular Judgment: 'This May Be True in Theory, But It Does Not Apply in Practice,'" responded to such criticism; in fact, he responded with his essay to criticism leveled against his ethical theory by the philosopher ChristianGarve (1742–1798)... Read More

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