Emmanuel Macron, President of the French Republic

Remove this Banner Ad

Adam Smith had a few, and there is the disproven Say's Law

As economics is a social science however, so personally I think calling anything a law is overcooking it
The human mind is a solely physical entity that is just difficult for us humans to figure out. The laws are just as absolute as those of physics. We just havent figured many of them out yet cos of the complexity of our minds.
 
The human mind is a solely physical entity that is just difficult for us humans to figure out. The laws are just as absolute as those of physics. We just havent figured many of them out yet cos of the complexity of our minds.

Economics is a long way from understanding the workings of the mind and its interaction with a given environment absolutely.
 

Log in to remove this ad.

Economics is a long way from understanding the workings of the mind and its interaction with a given environment absolutely.
Yes we are a long long way. We cant predict what every person will do in a situation like with physical laws. That doesnt mean they dont exist, its just they are too complicated for us to figure out. But we dont need to. The majority of humans respond consistently in certain situations that isnt too complicated for us to understand. Microeconomics has found some very clear simplified laws that explain how most people act and how most people rank preferences, even if they dont explain how everyone acts and rank preferences. Recent work in neuroscience is improving our knowledge of behaviour and preferences and enabling more refined economic laws.
 
Yes we are a long long way. We cant predict what every person will do in a situation like with physical laws. That doesnt mean they dont exist, its just they are too complicated for us to figure out. But we dont need to. The majority of humans respond consistently in certain situations that isnt too complicated for us to understand. Microeconomics has found some very clear simplified laws that explain how most people act and how most people rank preferences, even if they dont explain how everyone acts and rank preferences. Recent work in neuroscience is improving our knowledge of behaviour and preferences and enabling more refined economic laws.

They aren't laws though in a scientific sense

Most decent publication/authors badge them as something like "principles", more than just a theory, but not 100% rock solid

Even basic "laws" around supply and demand go skewy in the right situations
 
Yes we are a long long way. We cant predict what every person will do in a situation like with physical laws. That doesnt mean they dont exist, its just they are too complicated for us to figure out. But we dont need to. The majority of humans respond consistently in certain situations that isnt too complicated for us to understand. Microeconomics has found some very clear simplified laws that explain how most people act and how most people rank preferences, even if they dont explain how everyone acts and rank preferences. Recent work in neuroscience is improving our knowledge of behaviour and preferences and enabling more refined economic laws.
Physicists can’t even predict where an electron will be or find a generalised solution for the three body problem, you’re placing a big bet on systems that are many multiple orders of magnitude more complex.
 
They aren't laws though in a scientific sense

Most decent publication/authors badge them as something like "principles", more than just a theory, but not 100% rock solid

Even basic "laws" around supply and demand go skewy in the right situations
Ive never seen unregulated prices rise when supply exceeds demand or vice versa when demand exceeds supply. Have you?
 
Im in love with it cos im far more educated then you on this topic and know what the benefits truly are (and the costs), whereas you seem to listen to fake news on the subject that is easily disputed.

ie. you've been told that the system works and you want to believe that it does therefore you argue that it does
 
They aren't laws though in a scientific sense

Most decent publication/authors badge them as something like "principles", more than just a theory, but not 100% rock solid

Even basic "laws" around supply and demand go skewy in the right situations
If they are repeatable under empirical analysis then i would still call them scientific. Whatever you define as laws is just semantics.
 
Ive never seen unregulated prices rise when supply exceeds demand or vice versa when demand exceeds supply. Have you?

Yes, with elastic products where you have a monopoly in supply (medical products)

If a supplier knows they have a captive market, with no alternate supply option (Inc not purchasing) gouging can happen until and alternative is developed.
 

(Log in to remove this ad.)

If they are repeatable under empirical analysis then i would still call them scientific. Whatever you define as laws is just semantics.

It's too hard to get pure data with economic research though, and assumptions are very hard to test because you cannot eliminate factors as you would in a lab.
 
Yes, with elastic products where you have a monopoly in supply (medical products)

If a supplier knows they have a captive market, with no alternate supply option (Inc not purchasing) gouging can happen until and alternative is developed.
True. I should of added the caveat that there is market competion to my point. As long as you know the reasons why a rule doesnt occur then its still explainable as a rule. Its just you have to adjust rule so it is a little more complicated and has caveats. Its only when a breakdown of a rule occurs that you cant explain that the rule ceases to be useful.
 
Another example of conservative economics crumbling a national economy.

Oh well at least those 2% will be rich. That's what it's all about!!!
 
The human mind is a solely physical entity that is just difficult for us humans to figure out. The laws are just as absolute as those of physics. We just havent figured many of them out yet cos of the complexity of our minds.

This where white civilisation is limited.

What you're saying is poppycock.

What you're saying is actually proof of what is known about the mind and how easy it is controlled.

It's something you will probably never understand. Your reaction to this will be what they call cognitive dissonance.

Start by studying jung

Then move on to something from the himilayers. Nepal or China. Eastern science nailed the human mind thousands of years ago

Physics is a very corrupt and young science and also ignorant.
 

Remove this Banner Ad

Back
Top