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SNAFU
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Mind the Theory

- Thorsten Polleit -

Thanks for your answer. I maintain that Economics is an a priori science, but differs from physics, for example, in the fact that humans have freedom of choice, whereas observed objects in physics do not.

Thus the same causes have the same effets, but you cannot time the occurence, nor know exactly how it will happen.

A few examples : Print money and you get inflation, control prices and you get shortages if prices are set too loo and oversupply are set to high, set a minimum wage and you get unemployment, the closest to the money production system get richer at the expense of the others (Cantillon effect), print money and you get boom and bust cycles, and so on, all cause and effects which are perfectly demonstrated in today's economy.

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Début de l'article :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)... Lire la suite

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