[Chugalug] A comment on the Bitcoin .. fraud

Stephen Kraus ub3ratl4sf00 at gmail.com
Mon Apr 15 23:03:07 UTC 2013


Now you are stepping in my field :)


On Mon, Apr 15, 2013 at 7:00 PM, Chad Smith <chad78 at gmail.com> wrote:

> 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
> science.
>
> 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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