“since experiments are controlled,models have assumptions, theories may just be stories and conclusions might contain only mere opinion.Logic corroborated with rationality remains the single-most simplistic yet highly advanced avenue for ferrying us to the destination we  call truth.

all knowledge and philosophies worship at the altar of logic.”

Advertisements

8 thoughts on “

      1. Econometrics is the only “math” that I didn’t bother reading. Its theoretical assumptions are just too far-fetched and crazy even as a “guidance” for understanding the economy…

        Liked by 1 person

      2. haha typical mathematician answer….its just not as heavily grounded in traditional mathematics cause of the human aspects…people don’t follow numerical patterns but its quite elegant how mathematics is infused and when to defuse so as not to come up with absurd mathematical conclusions.
        Absolute accuracy is an almost impossibility its just mostly about the beauty of the simple general succinct theory but if you’re into accuracy its’ probably not for you

        Liked by 1 person

      3. Accuracy is actually not a problem for me. For example, in higher physics, accuracy is also not very important. What I don’t like about econometrics and economics as a whole is the over reliance of people with it. I also hate it when governments brag about that the economy is growing fast since the economic indicators like GDP have increased tremendously. However, in the streets, there are so many families who don’t have shelters and can’t even afford to buy decent meals. What about the people who work very hard but can’t still make ends meet. Those are the “real” economic indicators that the governments in many countries refused to recognize.

        Liked by 1 person

      4. oh ok, but economics or even math for that matter can’t be all encompassing but i understand your grievances .You’re probably in the school of thought for minority economics the opposite of macro or even micro economics that doesn’t look at aggregates but at the ‘unobserved minorities’ that heavily influences the aggregate or at least for the sake of consideration.The kind of stuff that Freakonomics(the book) is about.I think ‘the butterfly effect’ is as close an analogy i can give to this kind of branch of economics.The problem with it is that it doesn’t usually have the predictive power(because of its retrospective approach mostly) of other branches of economics but its definitely worth considering before making those huge statements about GDP,inflation and what have you because for some people its actually a matter of life and death.

        Liked by 1 person

      5. I of course understand the value of GDP since I also know the mathematics behind its calculation. And of course, macroeconomic data have higher predictive value than microeconomic data, this is just like statistics. I didn’t say that GDP is not “valid”, I only said that they rely on it too much.

        Most politicians use those economic data as one of the main driving force of their propaganda and you have to admit that its very tiring and sickening. GDP, CPI and other similar indicators aren’t the only real measures of progress. But of course, those clowns in the government wouldn’t understand that (or choose to not understand it). My point is that if the economy is really that “good”, then isn’t it time for them to do something (even small things) to help those people instead of spending their budgets in a stupid manner.

        But oh well, if you are at the top, you only see the forest and not the trees…

        Liked by 1 person

be sure to purge (thoughts,ideas,complaints) if at all you feel the nudge

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s