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Ayn Rand resurgence

So could you explain what this means in real terms? And what specific values was Friedman espousing?
It means he had an unrealistic idea of money because he relied on quantity theories of money and too much deduction cut off from the real world rather than empirical analysis.


This is precisely why your variety of esoteric economic analysis has lost almost all of it is weight in the real world of policy. You rely on book passages rather than testable empirical models. It’s not like Friedman was perfect. Newton was later proven wrong on some of his principles by Einstein. What’s important is how he helped move the whole of economics forward (much like Keynes did).
What are you talking about? I quoted one passage and now I have esoteric economic analysis.

Umm Friedman was wrong about his empirical analysis and he was hardly the most empirical of people. Look at the F twist, look at what we are talking about and he was a neoclassical economist.

His(Friedman's.) assumptions have been shown to be fallacious and the empirical evidence questionable if not totally misinterpreted. Moreover, none of the assumptions which Friedman made to reach his extraordinary conclusions bears any relation to reality. They were chosen precisely because they led to the desired conclusion, that inflation is a purely monetary phenomenon, originating solely in excess monetary demand.
[Thomas Balogh, Op. Cit., p. 165 and p. 167]

"Friedman's assertions lacked any factual foundation whatsoever......They had no basis in fact, and he seems to me have invented them on the spur of the moment." Nicholas Kaldor, The Scourge of Monetarism. P26.

I'm from a country that tried monetarism and had to abandon it because it caused chaos

Do you think Hayek would agree with your characterization of Friedman?
Don't know.
 
It means he had an unrealistic idea of money because he relied on quantity theories of money and too much deduction cut off from the real world rather than empirical analysis.


What are you talking about? I quoted one passage and now I have esoteric economic analysis.

Umm Friedman was wrong about his empirical analysis and he was hardly the most empirical of people. Look at the F twist, look at what we are talking about and he was a neoclassical economist.

His(Friedman's.) assumptions have been shown to be fallacious and the empirical evidence questionable if not totally misinterpreted. Moreover, none of the assumptions which Friedman made to reach his extraordinary conclusions bears any relation to reality. They were chosen precisely because they led to the desired conclusion, that inflation is a purely monetary phenomenon, originating solely in excess monetary demand.
[Thomas Balogh, Op. Cit., p. 165 and p. 167]

"Friedman's assertions lacked any factual foundation whatsoever......They had no basis in fact, and he seems to me have invented them on the spur of the moment." Nicholas Kaldor, The Scourge of Monetarism. P26.

I'm from a country that tried monetarism and had to abandon it because it caused chaos

Don't know.

You do realize that Friedman spoke of "money bombing" in reference to moving out of/avoiding a liquidity trap. He never said that is where money comes from. I doubt a Nobel laureate was unaware, or failed to understand what we refer to in the states as open market operations.
 
You do realize that Friedman spoke of "money bombing" in reference to moving out of/avoiding a liquidity trap. He never said that is where money comes from. I doubt a Nobel laureate was unaware, or failed to understand what we refer to in the states as open market operations.
There are no nobel prizes for economics.

Who said he said it where money comes from? He simply used it as a dubious assumption because he couldn't explain where money comes from. The point Kaldor is making is Friedman was wrong, money is mostly not created by the state but the market in a credit money economy, Friedman came upon this problem in his theories so used dodgy assumptions to get by. No one is suggesting he actually thought it was that way.

He wrote this:

“Let us suppose now that one day a helicopter flies over this community and
drops an additional $1000 in bills from the sky, …. Let us suppose further that
everyone is convinced that this is a unique event which will never be repeated,”

(Friedman (1969, pp 4-5).

No one is suggesting he actually believed this was realistic, simply that he had to resort to such scenarios in order to hold his quantity of money theories together.

Nicky [ame="http://en.wikipedia.org/wiki/Nicholas_Kaldor"]Kaldor[/ame] is hardly an economic no one himself.
 
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It means he had an unrealistic idea of money because he relied on quantity theories of money and too much deduction cut off from the real world rather than empirical analysis.
Alright, so what empirical articles do you have that suggest this is incorrect? I'm not saying Kaldor is wrong, but you make these assertions about Friedman's lack of empirics and then don't give empirical evidence that shows real world analysis.

What are you talking about? I quoted one passage and now I have esoteric economic analysis.

I'm saying yr analysis is too much based in economic writings of a specific nature ( generally negative to neoclassical notions). Not everyone has read that stuff, so if you want your arguments to be communicable/discussable they need to not rely entirely on familiarity with a certain sect of economic analysis (or more specifically, use arguments that don't require you to simply cite a book passage rather than a statistic).
Umm Friedman was wrong about his empirical analysis and he was hardly the most empirical of people. Look at the F twist, look at what we are talking about and he was a neoclassical economist.

His(Friedman's.) assumptions have been shown to be fallacious and the empirical evidence questionable if not totally misinterpreted. Moreover, none of the assumptions which Friedman made to reach his extraordinary conclusions bears any relation to reality. They were chosen precisely because they led to the desired conclusion, that inflation is a purely monetary phenomenon, originating solely in excess monetary demand.
[Thomas Balogh, Op. Cit., p. 165 and p. 167]
Yeah yeah yeah. Thomas Balogh was just one economist. Where is his empirical (as in his actual proof) that Friedman was wrong? I'm not arguing that Friedman always got the numbers right, but instead that the numbers mixed with his change in perspective (from the Keynesian that lasted until the 70's) helped move the field forward. Instances of this are his influence in reshaping the field of Monetary Economics (although I agree with you that his work here is more controversial/and had definite shortcomings when implemented). His best ideas/analysis was probably his Long-term Consumption Function, his (and Schwartz) explanation for the Great Depression (monetary in nature), and his prediction (along with Arrow) of stagflation. Those may not have been perfect ideas (there is no such thing), but they were important/revolutionary in moving economics closer to being accurate. As an example, Keynes General Theory hasn't really held up empirically over the years, but his shift in economic analysis has moved the entirety of economics forward following the Depression.
 
I'll quote/paraphrase: There are two versions of libertarianism, "the more extreme version believes it is immoral to initiate coercive force on anyone else"

That's the ONLY form of libertarianism.

If someone beleives they have to FORCE others to behave the "right" way, then they're no libertarians.

It's that simple, and most people have the most difficult time understanding the simple fact of a definition.


Described as: Ayn Rand type libertarianism.
Here's the brand of libertarianism Friedman, and I personally favor: Consequentialist Libertarianism: Government should be small so as to allow for the maximization for individual freedom. (To allow individuals to pursue their own values).

Oh.

So what you really have are two sides of the same coin, and you don't know enough about libertarianism to make a good sneeze.

Just in case you've been infected by Rothbard's idiocy, no, anarchy is not a form of libertarianism. Libertarianism recognizes fully the need for a SMALL government to protect individual liberties.
 
That's the ONLY form of libertarianism. If someone believes they have to FORCE others to behave the "right" way, then they're no libertarians.
How is that the case when a central tennant of libertarianism (any form) was to specifically use FORCE to ensure others behave in a non-coercive (honest, non violent, and more) way?

Libertarianism recognizes fully the need for a SMALL government to protect individual liberties.
So, when private power accumulates, as it necessarily will, always has, and will again, how is SMALL government able to keep it in check? It's not able to, by design. So that form of libertarianism is basically "no government".

That's why no one uses that model, or if they do, it quickly devolves into either a much more inavsive form of government like a dictatorship, or a revolution and a roll of the dice for a new government.

Give me the unchecked freedom to grow in power with no bounds, and I will take what I want, when I want, using whatever means I see fit to do it. What will you do about it? Small government will be easily trumped, overidden, corrupted, influenced, etc. Equilibrium of a sort is only reached with competing powers that have checks/balances on one another. Powerful government, powerful private sector, powerful "masses" (when organized), the three branches of society check and balance one another. Similar to how government itself operates, and most businesses operate. It's obviously not a coincidence. Although the "powerful masses" seem to be waning in power. A cause for concern to some.

Big enough government is the answer, not "arbitrarily small". Too big and it fails, too small and it fails.
 
How is that the case when a central tennant of libertarianism (any form) was to specifically use FORCE to ensure others behave in a non-coercive (honest, non violent, and more) way?

Real libertarians believe the mushrooms you're obviously ingesting shouldn't be controlled by the government.

So, when private power accumulates, as it necessarily will, always has, and will again, how is SMALL government able to keep it in check? It's not able to, by design. So that form of libertarianism is basically "no government".

You've worked as a professional pretzel bender, too.

The function of government is to preserve liberties. Doesn't take a huge government to prevent what you say.

That's why no one uses that model, or if they do, it quickly devolves into either a much more inavsive form of government like a dictatorship, or a revolution and a roll of the dice for a new government.

Wrongo. Nobody uses the libertarian model, as can be seen because governments keep morphing into dictatorships and phony-baloney welfare states, which lead to collapse and/or revolution.

Give me the unchecked freedom to grow in power with no bounds, and I will take what I want, when I want, using whatever means I see fit to do it.

Right. Sprinkled LSD on the 'shrooms, I see. What's "unchecked" freedom? How do you take what you want if you're not allowed to steal? I guess you don't understand what real libetarianism is and you're pretending anarchy is libertarianism, something that ass Rothbard encouraged.
 
Alright, so what empirical articles do you have that suggest this is incorrect? I'm not saying Kaldor is wrong, but you make these assertions about Friedman's lack of empirics and then don't give empirical evidence that shows real world analysis.
Sure you can, you can reference works which so show. Did you go to uni?
 
Well it would be nice to seem some empirical evidence that backs your claims.

What claims? That Friedman wrongly interpreted the data? I have shown quotes from those authors I read that I managed to find online they analysis the data Friedman used it is about analysis(something SFLRN ignores as much as possible it seems.) more than the pure raw data. I read them in library books and hence don't have them any longer but as is valid in university level essays and therefore presumably should be here, I referenced them so you can find them easily. I even know that The Scourge of Monetarism is available online.

SFLRN simply thinks that everything, and I mean complex broad debates like whether capitalism is better than socialism, seemingly has to expressed in single graphs. Presumably he reads Shakespeare's plays in single graph form.
 
We have seen the quotes, what we are asking for is empirical data or even research essays written on monetarism. The books that you have read are the opinions of economists, but such publications are not the same as empirical evidence of actual research.

For example if you are going to claim that an economist is wrong, it would nice to see the kind of empirical evidence of in depth analysis that Onion Eater provides, or even the short lived Sccuca.

Quotes from non-fiction books are interesting indeed, but they do not provide any empirical evidence that can back up your claims.
 
We have seen the quotes, what we are asking for is empirical data or even research essays written on monetarism. The books that you have read are the opinions of economists, but such publications are not the same as empirical evidence of actual research.

For example if you are going to claim that an economist is wrong, it would nice to see the kind of empirical evidence of in depth analysis that Onion Eater provides, or even the short lived Sccuca.
I only claimed he was wrong about unrealistic assumptions, particularly the helicopter thing. That doesn't need "empirical evidence" unless you are asking for proof the gov't doesn't drop money by helicopter.

Now I admit a lot of the analysis is in those books and I can't or can't be bothered to repeat it here but if is good enough to reference for Uni essays it is good enough to simply use references here.

Quotes from non-fiction books are interesting indeed, but they do not provide any empirical evidence that can back up your claims.
Man some of you guys need to learn the difference between analysis and empirical evidence. This is why you get people suggesting that you use a single model to show which is a better economic and political system.
 
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Real libertarians believe the mushrooms you're obviously ingesting shouldn't be controlled by the government.
So your philosophy is contradictory, and you then discuss mushrooms. OK, I accept that you accept the error you made.

The function of government is to preserve liberties. Doesn't take a huge government to prevent what you say.
How large of a government do you need to prevent all of the other nations of the world from dominating the U.S.? You apparently know it's a a small one? Crazy. How about 300 million people from not keeping slaves, how big do you need to be Buck Rogers?

Wrongo. Nobody uses the libertarian model, as can be seen because governments keep morphing into dictatorships and phony-baloney welfare states, which lead to collapse and/or revolution.
Right. It's such a good way that everyone avoids it....hold onto the faith.

What's "unchecked" freedom?
China is free to dominate the U.S.
Do you know how to check that? I do. Luckily other people do too.

How do you take what you want if you're not allowed to steal?
Brother, you can't stop anyone from doing anything when you:
1. will not use coercion.
2. want to remain small in power.

A 2-year old would overthrow you. Literally.

I guess you don't understand what real libetarianism is and you're pretending anarchy is libertarianism, something that ass Rothbard encouraged
You are the only one being debated with here, and you haven't really been able to support your position. The rest of the commentary is is colorful.

I'm sypathetic to some of the libertarian philosophy, but if it can't be shown to be consistent and useful, you have to call it like it is.
 
I only claimed he was wrong about unrealistic assumptions, particularly the helicopter thing. That doesn't need "empirical evidence" unless you are asking for proof the gov't doesn't drop money by helicopter.
If an assumption is unrealistic it is rather unimportant if it is in a predictive model. A science's validity is based more on it's ability to predict phenomenon, than it is on the assumptions behind the science. If the assumptions are truly unrealistic then eventually a model will need to be reworked to better fit reality.
Now I admit a lot of the analysis is in those books and I can't or can't be bothered to repeat it here but if is good enough to reference for Uni essays it is good enough to simply use references here.
In (many) Uni essays you are given a prompt, which the professor is aware of, and told to take what you have read and apply that specifically to the prompt. This forum is not prompt writing, it's more along the lines of having a starting area of analysis, and moving from there. You need to do more than cross-apply stuff not everyone has read to actually debate them (because if they don't aren't as familiar with the text you'll simply spend your time attempting to explain things to them). No one here will inherently agree with a source in the same way a professor might allow using a source because that professor predetermined you should read a book/the book was credible enough to be read. That is not the case on this forum, and you cannot expect everyone to take economists you have read as credible sources. Empirical Analysis is slightly different if it is presented properly. Presuming you do not select evidence that just fits one's argument.
Man some of you guys need to learn the difference between analysis and empirical evidence. This is why you get people suggesting that you use a single model to show which is a better economic and political system.
I was doing general analysis when I mentioned the limits of using economic texts to argue for one specific system over another. The reason two "arguments" have each side is because they tend to be based on different assumptions. Moreover, I did mention that if you take post-modern analysis (meaning if you accept that reason can very often times be based in the author's personal context, something which seems clear enough) there's reason to believe that using normative texts will only provide subjective answers. Those answers may be right some of the time, but certainly not all of the time. As a final note, if you confuse the role between scientist, and philosopher in economics (confuse positive analysis with normative analysis) you greatly weaken the strength of the former, because you rely on the latter. Normative issues cannot, and realistically will not be determined by economists. What they should focus on is doing positive research; therefore, one can better know how to achieve certain ends (so if it wants to be guided by one set of normative values then it can also be effective).
 
If an assumption is unrealistic it is rather unimportant if it is in a predictive model. A science's validity is based more on it's ability to predict phenomenon, than it is on the assumptions behind the science. If the assumptions are truly unrealistic then eventually a model will need to be reworked to better fit reality.
And Friedman's idea didn't work out, monetarism is dead was a popular phrase for a while. But the above is bollocks. You talk about the need for empiricism and then put out some bs about how assumptions don't really matter..
In (many) Uni essays you are given a prompt, which the professor is aware of, and told to take what you have read and apply that specifically to the prompt. This forum is not prompt writing, it's more along the lines of having a starting area of analysis, and moving from there. You need to do more than cross-apply stuff not everyone has read to actually debate them (because if they don't aren't as familiar with the text you'll simply spend your time attempting to explain things to them). No one here will inherently agree with a source in the same way a professor might allow using a source because that professor predetermined you should read a book/the book was credible enough to be read. That is not the case on this forum, and you cannot expect everyone to take economists you have read as credible sources. Empirical Analysis is slightly different if it is presented properly. Presuming you do not select evidence that just fits one's argument.
What do you mean take them as credible sources? Are you suggesting Kaldor is not a credible source in the sense that he lies or misrepresents things? He was a relatively well known economist and see little reason to believe that.

I was doing general analysis when I mentioned the limits of using economic texts to argue for one specific system over another. The reason two "arguments" have each side is because they tend to be based on different assumptions. Moreover, I did mention that if you take post-modern analysis (meaning if you accept that reason can very often times be based in the author's personal context, something which seems clear enough) there's reason to believe that using normative texts will only provide subjective answers. Those answers may be right some of the time, but certainly not all of the time. As a final note, if you confuse the role between scientist, and philosopher in economics (confuse positive analysis with normative analysis) you greatly weaken the strength of the former, because you rely on the latter. Normative issues cannot, and realistically will not be determined by economists. What they should focus on is doing positive research; therefore, one can better know how to achieve certain ends (so if it wants to be guided by one set of normative values then it can also be effective).
You keep saying this stuff, it is irrelevant. You keep confusing the issues and confusing analysis with empirical evidence.
 
And Friedman's idea didn't work out, monetarism is dead was a popular phrase for a while. But the above is bollocks. You talk about the need for empiricism and then put out some bs about how assumptions don't really matter..

When you say the need for empiricism is bollocks, what do you mean (obviously I know what bollocks means, but why should assumptions matter if a model accurately predicts phenomenon? I'm not saying you can't have a normative debate every once and again; but if economics were to have as many as I believe you want, it would become as useless as political science is in establishing causality (And as a personal note: I'm more interested in graduate study of political science than of economics). Moreover, I don't think it's accurate to say that he had one idea with regards to monetarism. Could we say the same thing about Keynesian ideas? That stagflation made the field irrelevant? It is true that Friedman wasn't correct on everything; and I can't think of a single great thinker that was always provided the correct answers. As I believe Voltaire said, "Judge a man not by his answers, but by his questions." The questions Friedman raised (along with some of the leaps in long-term consumption models, which do still hold empirical validity today, his work on the Great Depression and deflation, amongst others) are questions that lead to an abundance of research (which helped refine much of what we know about economics). In a similar note, Keynes raised some very good questions about cyclicality in the face of a field incredibly biased towards the notion that "markets clear," and that government could not possibly influence the economy. Some of Keynes ideas in application didn't workout, and most would tell you that his work hasn't held up empirically over the years. But that's not just the point, the research/questions he brought forth moved the entirety of a field forward. However, if you don't test the ideas/look into questions you're left with a field that debates rather than discovers anything.
What do you mean take them as credible sources? Are you suggesting Kaldor is not a credible source in the sense that he lies or misrepresents things? He was a relatively well known economist and see little reason to believe that.
If we really want to nitpick; Friedman was a very well known economists, and many who support his ideas see no reason to question his credibility. Under your standards of credibility we would be left with an unresolved debate, rather than a stimulating progression. I'm sure Kaldor was correct on some things, but you cannot simply use his texts as the only proof of anything.
You keep saying this stuff, it is irrelevant. You keep confusing the issues and confusing analysis with empirical evidence.
I keep saying it because you seem unwilling to debate it. What am I confusing exactly? Do you have a specific reason as to why textual analysis/reasoning is not subjective? That is the question I am asking; why should we believe what some economist writes as a truthful description of the world? What standard makes textual analysis inherently accurate? This is a critique to the evidence you have sometimes relied on to prove your points. I'm saying that textual analysis is subjective, and in face of that subjectivity you need models that accurately predict phenomenon (regardless of their assumptions) to prove which aspects of an economist's reasoning accurately describes reality. Debating the assumptions will not change how well a model has predicted something. As a side-note: I do want you to know that I have found this debate rather interesting, and do not mean to sound overly sure of my points.
 
When you say the need for empiricism is bollocks, what do you mean
I didn't say that. I said the idea assumptions don't matter is bollocks. Presumably saying inflation is caused by pink elephants is okay if can make some predictions. I also said how can you talk of empiricism with such a view.


(obviously I know what bollocks means, but why should assumptions matter if a model accurately predicts phenomenon? I'm not saying you can't have a normative debate every once and again; but if economics were to have as many as I believe you want, it would become as useless as political science is in establishing causality
Neoclassical economics is useless. It is awash with absurd assumptions, silly methodology and internal inconsistencies.



If we really want to nitpick; Friedman was a very well known economists, and many who support his ideas see no reason to question his credibility.
Well he is decisive. Those on the right often love him, and one suspects more often for these normative reasons you are so scared of than anything else and those on the left often hate him, and often for the same sort of reasons.

Under your standards of credibility we would be left with an unresolved debate, rather than a stimulating progression. I'm sure Kaldor was correct on some things, but you cannot simply use his texts as the only proof of anything.
What do you mean? I didn't, he shows my Friedman is wrong, it is up to you to read it and if you are unsatisfied to check it.

I keep saying it because you seem unwilling to debate it.
Because you keep talking silly, as if everything can be solved with a single graph.

What am I confusing exactly?
Empirical data and analysis. You leave out analysis completely .

Do you have a specific reason as to why textual analysis/reasoning is not subjective?
What are you talking about? It is not completely subjective because it is backed up by logic, which can be tested, and data. The point is that you can't simply have data. You need to know what to take data of, how to take it and what to make of the results.

This is pretty obvious stuff.
 
I didn't say that. I said the idea assumptions don't matter is bollocks. Presumably saying inflation is caused by pink elephants is okay if can make some predictions. I also said how can you talk of empiricism with such a view.
They (assumptions) honestly don't for all intents and purposes. If an assumption misdirects a model then it can be corrected for over the course of time. How can one really say an assumption is valid or not? What standard would you say is appropriate for determining what makes a good and bad assumption?
Neoclassical economics is useless. It is awash with absurd assumptions, silly methodology and internal inconsistencies.

This statement somewhat reinforces everything I believed earlier. You really need to get your head out of the ideological sink. Simply because your professors/you believe neoclassical economics is worthless won't do much in the way of actually improving neoclassical economics. If a model in biology accurately predicted cell growth how many honest scientists would go into a "normative" debate over the assumptions of cell life? (Not many would if the model was accurate). On the flip side, I would imagine those assumptions would be challenged if the model failed to predict things accurately. That's the check against "unrealistic" assumptions. I think the only real reason your belief that assumptions are so important (in a normative sense) is grounded in the fact that economics is a social science, dealing with people, and not one dealing with more mundane things. Can you yourself think of a better way to arrange a field designed to explain real phenomenon? I'm not saying all of the assumptions behind models are very easy to explain, nor will they ever be perfectly logical (although they tend to be closer to mathematical than specifically logical).

Well he is decisive. Those on the right often love him, and one suspects more often for these normative reasons you are so scared of than anything else and those on the left often hate him, and often for the same sort of reasons.

The point is that you can't use an economist's writings as proof. They are subject to be inaccurate/subjective to a degree. I really could care less about Friedman's normative assumptions. And I think the point you made reinforces what I said earlier. The people on the right love him for normative reasons, and the people on the left hate him for those same normative reasons. That is exactly the outcome you'd have in the whole of economics spent as much time as you do focusing on the normative. Economics would be divided over things that could never be empirically proven, and debates that would never be resolved because there is no real way to wholly disprove normative arguments. What sounds reasonable to one person does not inherently sound reasonable to another.
What do you mean? I didn't, he shows my Friedman is wrong, it is up to you to read it and if you are unsatisfied to check it.
This is generally why I choose to avoid these forums more often than not. I don't have time to read all the texts. Have these debates with your professors (if they have office hours), and not someone who has other things to do than read a non-empirical study that will not do much more than strengthen my thinking (something I could achieve by reading other works I might add).
Because you keep talking silly, as if everything can be solved with a single graph.
No it can't, but the progress you make will likely be quicker if you rely on numbers, and not the heated debates normative issues often provoke. In today's context there are simply too many professors to make the normative study of assumptions feasible. Look at how few people rely on the journal articles in literature (or a number of the more normative humanities for that matter). The fields have become super-specialized, and to the interest of only other professors in those sub-specialities.
Empirical data and analysis. You leave out analysis completely .
I really do find this debate interesting, but you can't really expect me to be willing to do a research assignment for a casual/online debate. Why not argue with someone who has read all of the works you have. You might find it more productive if my argumentation is not sufficiently reasonable for you.
What are you talking about? It is not completely subjective because it is backed up by logic, which can be tested, and data. The point is that you can't simply have data. You need to know what to take data of, how to take it and what to make of the results.
Yes, you do need to know what to make of data. I'm not arguing we drop all of the explanatory language of economics. However, your point on logic is the heart of the issue. Logic, no matter how you slice it can be slanted in two ways (unless you want economists to spend their time becoming strong logicians, rather than testing data). Logic is based in words, and generally the winner of a debate with logic is the one who argues most persuasively/intelligently. Those standards for "winning" do not necessarily guarantee the winner of a debate with logic most accurately explained the world. If you want an example of this read many of the works in political science, and see how inconclusive they can be. Back in the days of more limited statistics/fewer researchers it may have been necessary for much of the great works of the social sciences to be written, rather than empirically tested. In fact this was the way much of economics was for years (although there was a certain kind of quantitative logic based in mathematics even in the beginning). That didn't do much to help anyone other than economists understand the field. If you want the best ideas of economics to spread, even those normative ones. You need a reason for people to believe the ideas can accurately predict reality. Over time those ideas diffuse more and more into common situations (provided economists still focus some of their ability on explaining things). When that happens the average voter is more likely to think economically, which means more economic thinking at the polls. Moreover, logic is rather subjective. As has been established by Camus, Sartre, and many others after (after years and years of debate) there is no real inherent truth. I could go into Rousseau if you wanted, but suffice it to say logic/words in general served a communication purpose earlier. They tend to be comparative/relative. However, when explaining something as varied as economic activity you need a medium that is not limited by language's finite nature (there are only so many words after all). You need something closer to infinite to come closer to describing the immense variability in economic activity.
This is pretty obvious stuff.
Yes, and I think your assumption that logic is a reliable proof of a point is unrealistic. It (logic) has a more difficult time of proving causality, or more specifically, if you find out something is generally true in economics it may not necessarily make any logical sense. That's why you need a model to detect trends in the data. By detecting those trends you make the first step towards testing other aspects of behavior.
 
They (assumptions) honestly don't for all intents and purposes. If an assumption misdirects a model then it can be corrected for over the course of time. How can one really say an assumption is valid or not? What standard would you say is appropriate for determining what makes a good and bad assumption?
Some appromixation of reality I'd say. The thing is that models which can make some predictions but with dodgy assumptions are very bad for policy, it is hard to tell casuality and to proceed in the right direction.



The point is that you can't use an economist's writings as proof. They are subject to be inaccurate/subjective to a degree. I really could care less about Friedman's normative assumptions. And I think the point you made reinforces what I said earlier. The people on the right love him for normative reasons, and the people on the left hate him for those same normative reasons. That is exactly the outcome you'd have in the whole of economics spent as much time as you do focusing on the normative. Economics would be divided over things that could never be empirically proven, and debates that would never be resolved because there is no real way to wholly disprove normative arguments. What sounds reasonable to one person does not inherently sound reasonable to another.
Of course you can use an economists writings as proof, it simply means one has to read what that economist said and hwo they came to that conclusion.
This is generally why I choose to avoid these forums more often than not. I don't have time to read all the texts. Have these debates with your professors (if they have office hours), and not someone who has other things to do than read a non-empirical study that will not do much more than strengthen my thinking (something I could achieve by reading other works I might add).
It was not a "non-empirical" study, in fact it is based around the Radcliffe report and other empirical data.

Yes, you do need to know what to make of data. I'm not arguing we drop all of the explanatory language of economics.
You seem to be, when you make sense.

However, your point on logic is the heart of the issue. Logic, no matter how you slice it can be slanted in two ways (unless you want economists to spend their time becoming strong logicians, rather than testing data). Logic is based in words, and generally the winner of a debate with logic is the one who argues most persuasively/intelligently. Those standards for "winning" do not necessarily guarantee the winner of a debate with logic most accurately explained the world. If you want an example of this read many of the works in political science, and see how inconclusive they can be. Back in the days of more limited statistics/fewer researchers it may have been necessary for much of the great works of the social sciences to be written, rather than empirically tested. In fact this was the way much of economics was for years (although there was a certain kind of quantitative logic based in mathematics even in the beginning). That didn't do much to help anyone other than economists understand the field. If you want the best ideas of economics to spread, even those normative ones. You need a reason for people to believe the ideas can accurately predict reality. Over time those ideas diffuse more and more into common situations (provided economists still focus some of their ability on explaining things). When that happens the average voter is more likely to think economically, which means more economic thinking at the polls. Moreover, logic is rather subjective. As has been established by Camus, Sartre, and many others after (after years and years of debate) there is no real inherent truth. I could go into Rousseau if you wanted, but suffice it to say logic/words in general served a communication purpose earlier. They tend to be comparative/relative. However, when explaining something as varied as economic activity you need a medium that is not limited by language's finite nature (there are only so many words after all). You need something closer to infinite to come closer to describing the immense variability in economic activity.
What are you talking about? Empirical data has to be part of analysis and a framework to be useful and make sense, I'm not interested in post-modernist idiocy. Let's leave aside the post-modernism because I really can' see how it helps your argument, in fact it tends to weaken it if you buy the rubbish that is. You seem to jump between extreme subjectivism and objectivism with breathtaking speed. I can only conclude you don't knoiw what you are talking about or this is some kind of strange debating technique. The post-modernists made their points, they have far from triumped even if they added something to the the inllectual debate, as my lecturer from the US said, Post-modernism is rather over in the US, it has been largely displaced and everyone has moved on.

Yes, and I think your assumption that logic is a reliable proof of a point is unrealistic. It (logic) has a more difficult time of proving causality, or more specifically, if you find out something is generally true in economics it may not necessarily make any logical sense. That's why you need a model to detect trends in the data. By detecting those trends you make the first step towards testing other aspects of behavior.
And models don't make sense outside of analysis.
 
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Some appromixation of reality I'd say. The thing is that models which can make some predictions but with dodgy assumptions are very bad for policy, it is hard to tell casuality and to proceed in the right direction.



Of course you can use an economists writings as proof, it simply means one has to read what that economist said and hwo they came to that conclusion.
It was not a "non-empirical" study, in fact it is based around the Radcliffe report and other empirical data.

You seem to be, when you make sense.

What are you talking about? Empirical data has to be part of analysis and a framework to be useful and make sense, I'm not interested in post-modernist idiocy. Let's leave aside the post-modernism because I really can' see how it helps your argument, in fact it tends to weaken it if you buy the rubbish that is. You seem to jump between extreme subjectivism and objectivism with breathtaking speed. I can only conclude you don't knoiw what you are talking about or this is some kind of strange debating technique. The post-modernists made their points, they have far from triumped even if they added something to the the inllectual debate, as my lecturer from the US said, Post-modernism is rather over in the US, it has been largely displaced and everyone has moved on.

And models don't make sense outside of analysis.

I'm sorry but I really cannot agree with your argument that SFLRN was engaging in post-modernism. Is an analysis of the limitations of logic and reason, really post-modernist? Post modernism has very strong deconstructionalist tendencies.

I'll put it to you Wessexman that you have used the term post-modernist as an attempt to shut down the argument, as if somehow you mentioning this phrase, can shut down an argument.

Now don't get me wrong, you have many interesting ideas and thoughts especially in relation to de-centralized-libertarianism. And I for one take a great interest in your Burkian ideas... But at times your posts come across as arrogant and condescending. You do your argument no favours, by dropping the latest buzz word from uni philosophy class 101.....

No granted, I do believe that SFLRN should deal with what constitutes an effective analysis of empirical data. You have identified a critical aspect of academic and scientific analysis. But your refusal to back up your criticism of Friedman with empirical economic studies from SEVERAL SOURCES shows your stubbornness to deal with other possible factors. At worst, it shows your inability to deal with the slight possibility that you may be wrong or alternately (like myself) it possible that you don't know everything under the sun.
 
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I'm sorry but I really cannot agree with your argument that SFLRN was engaging in post-modernism. Is an analysis of the limitations of logic and reason, really post-modernist? Post modernism has very strong deconstructionalist tendencies.

I'll put it to you Wessexman that you have used the term post-modernist as an attempt to shut down the argument, as if somehow you mentioning this phrase, can shut down an argument.
He mentioned it earlier, he used the very word post-modernism.

I agree there are restrictions of logic certainly, I'm not arguing for massive deductions from a few axioms but I, like most in my fields, history, archaeology and politics, do not believe that Post-modernism is an effective critique of allobjective fact and reason in the humanities. It reminds us to look at the person who is doing the work of course though and to take their motives, background etc into account. I do find it strange that he puts up this critique, from libertarian socialists(of sorts at least) he is so busy trying to attack in another thread, and then seems to claim that largely unanalysised empirical data can solve everything.

Now don't get me wrong, you have many interesting ideas and thoughts especially in relation to de-centralized-libertarianism. And I for one take a great interest in your Burkian ideas... But at times your posts come across as arrogant and condescending. You do your argument no favours, by dropping the latest buzz word from uni philosophy class 101.....
SFLRN is a rather infuriating poster, he writes a lot but seems to say little and adding postmodernism, notorious for saying little with a lot if hardly going to help. I apologise to him if he I have seemed rude.

Btw aren't you an Aussie? It is decentralised.;)
No granted, I do believe that SFLRN should deal with what constitutes an effective analysis of empirical data. You have identified a critical aspect of academic and scientific analysis. But your refusal to back up your criticism of Friedman with empirical economic studies from SEVERAL SOURCES shows your stubbornness to deal with other possible factors. At worst, it shows your inability to deal with the slight possibility that you may be wrong or alternately (like myself) it possible that you don't know everything under the sun.
I did back them up. I did not make massive attacks on Friedman here, just the one thing and I backed it up. I used a book, that is available online, but that can't be helped in sometimes, not everything is available in easy internet links.
 
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He mentioned it earlier, he used the very word post-modernism.

I agree there are restrictions of logic certainly, I'm not arguing for massive deductions from a few axioms but I, like most in my fields, history, archaeology and politics, do not believe that Post-modernism is an effective critique of allobjective fact and reason in the humanities. It reminds us to look at the person who is doing the work of course though and to take their motives, background etc into account. I do find it strange that he puts up this critique, from libertarian socialists(of sorts at least) he is so busy trying to attack in another thread, and then seems to claim that largely unanalysised empirical data can solve everything.

SFLRN is a rather infuriating poster, he writes a lot but seems to say little and adding postmodernism, notorious for saying little with a lot if hardly going to help. I apologise to him if he I have seemed rude.

Btw aren't you an Aussie? It is decentralised.;)

I did back them up. I did not make massive attacks on Friedman here, just the one thing and I backed it up. I used a book, that is available online, but that can't be helped in sometimes, not everything is available in easy internet links.

Did you ignore the part where I mentioned SEVERAL SOURCES? Granted sources are sometimes hard to get on the internet, but for the sake of the debate can you at least point us (even vaguely) to other economists that share the view of Nicholas Kaldor.

One book by itself is interesting and raises doubt, it shows that you are not merely making things up, but neither does it prove anything. I invite you to provide other sources to give a stronger argument, and thus categorically back up the assertion that Milton Friedman was wrong on X, as opposed to stating that economist Y says that Milton Friedman was wrong on X.

You have proven the latter but not the former. And I believe that the former is the crux of this thread.
 
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Did you ignore the part where I mentioned SEVERAL SOURCES? Granted sources are sometimes hard to get on the internet, but for the sake of the debate can you at least point us (even vaguely) to other economists that share the view of Nicholas Kaldor.
I quoted two.
 
And? Since when did 2 sources equal several?

:lol:

One is normally enough on a forum. For such a small point as his helicopter metaphor representing an inability or unwillingness to use more realistic assumptions I think it will do. In an essay of 2000 words I'd use about ten and this being about a 100 I think two will do. And two is several in my book.
 
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