Imma stick my neck out here but this paper of M Friedman
The Methodology of Positive Economics
his argument means there is no useful distinction between say, theories of heliocentrism v geocentrism, germ theory v humors, spontaneous generation v infectious disease vectors.
that germ theory hypothesis is “unrealistic”, so is spontaneous generation and nothing can or should be said of them
on a paper that expresses the same sense I came to of MF methodology with rich critique that MF cared about assumptions..
“ One can only speculate as to why economists have routinely overlooked the discrepancy between Friedman’s thought and practice which I am about to highlight.” - Marcos Picchio
That’s easy, simply look to the lack of self reflection of Milton’s advertised methodology itself. They don’t care to look.
Even 3 year olds care about causality. They care whether someone’s acts harm another intentionally, say if they drop a brick on someone’s head, or from circumstance, say if they got pushed and that pushed over a brick from above. Epistemology is fundamental to moral judgement and is the fundamental element of critical faculty. The F-Twist should be mocked as an ask that we be cuckolds.
@GhostOnTheHalfShell@economics-that-works@economics@academicchatter Not only did it pass academic muster, but policymakers around the world swallowed it. Hook. Line. Sinker. And they've been running the grand experiment (sans control) on all of us for four decades, and have proven that the accumulation of wealth is great for the wealthy, and diabolical for everyone else (including the biosphere).
@phil_stevens@economics-that-works@GhostOnTheHalfShell@economics@academicchatter Every time there is any political debate it always ends up on state debt. The percentages, 60% from gdp for total amount of debt and 3% for loss from budget get bandied around quite a bit from politician, officials and economists. The only ones who remember that Rogoff was bullshit are labeled as commies and therefore not listened to.
epistemology is dead wrt to public policy, this includes climate related economic policies. It has already eaten into public health (see covid response) and other topics.