[Chugalug] A comment on the Bitcoin .. fraud

Chad Smith chad78 at gmail.com
Mon Apr 15 23:00:48 UTC 2013

I don't think it is far to say that because economists' predictions may
have an effect on the system they are addressing, that Economics as a whole
is "not a science".  If that is true, then I guess Physics isn't a science,
either.  http://en.wikipedia.org/wiki/Observer_effect_(physics)

I would think there would have to be those who choose to use their voice as
an "Expert" to sway public opinion one way or another, for their own
benefit - but i would say the same could be said for a doctor who is giving
advice to a patient who may benefit from a treatment that the said doctor
does not perform, or one that they do.  That doesn't mean Medicine is not a

Yes, "self-fulfilling prophecies" exist.  Yes, economists have just as much
of a chance of being evil liars as any other human being.  That doesn't
negate the value of the study as a whole.  Economics is much like
Psychology, it is not a "Hard Science" - but it is a science.

Now, if you do not accept non-hard sciences as science at all, let's talk
about Quantum Physics.

*- Chad W. Smith*
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