this post was submitted on 20 Aug 2023
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is this a controversial opinion? i think pretty much every economist would tell you it's a social science
I think the internet thinks economics is a hard science. I think it’s mostly due to the math involved.
It isn't a difficult science from a learner's PoV.
It is, however, difficult in a sense of trying to figure out why in the world what happened happened, and most importantly, making it possible to do again.
That's because not only can you not experiment, you only gather data from observations, but once you share the product of your studies the reality changes in reacton to it.
In same Physics the object of your studies doesn't simultaniously study you.
Math gets involved to get a result that is somewhat reproducable. But even then since we can't factor everything we use degrees of probability/certainty.
Theoretically speaking if we managed to fully understand human behaviour then we coult predict the outcome of everything. As you can imagine, we're nowhere close to being able to do that.
Back to original post, yes, economics is closer to psychology than it is to physics. At least for the fact that we study human behaviour, but on a different scale. So sociology and political science are the closest, then psychology, next all of biological sciences, and chemistry, physics and everything related come last pretty much.
Math doesn't fit anywhere here, since it's a tool for measuring reality and not a study of reality itself.
You literally need a doctor's in mathematics to be an actual economist.
Doctors of Mathematics know enough about modelling and the Garbage-in-Garbage-Out effect that they would quit the discipline of Economics within a few days of entering it.
In the areas were Economics deals with things with high Political Relevance you need the a salesman mindset - vague and self-decieving - which is almost the diametrical opposite of how Matematicians think.
Lmao what? Economists are dorks man, not salespeople. Do you actually know any economists or is this just an "I'm mad because economists don't push communism" kind of thing
I worked a decade in Investment Banking.
This wall of text only means that economy is not even a science like psychology or social sciences could be.
Economy is a fraud.
Lmao "economists don't like my economic views so economics isn't real"