Let's ignore for a moment that this is only one of a series of critiques on the wikipedia page.
The problem arises when we apply abstract ideas to economics in ways that divorce us from reality: the math may be perfect but the world the math models may have no connection to the real world nor may we even wish that it would.
Yes, that's why we test them empirically. How else would we know whether they have any connection to the real world? This is an odd objection for an Austrian to make, given that praxeology is just giving up on testing.
Who are the "calculators" who impute value to existence? Individual human beings are
...
The critique offered, in plain English, says that it is hypothetically possible to replace each and every last thinking, valuing human being on the planet with a computer that simulates him perfectly.</>
I think you lost something there. The critique doesn't say anything about computers or humans, just calculators.
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Re: Oh brother, is there no end to the disingeuousness of political animals?
Date: 19/9/11 20:28 (UTC)The problem arises when we apply abstract ideas to economics in ways that divorce us from reality: the math may be perfect but the world the math models may have no connection to the real world nor may we even wish that it would.
Yes, that's why we test them empirically. How else would we know whether they have any connection to the real world? This is an odd objection for an Austrian to make, given that praxeology is just giving up on testing.
Who are the "calculators" who impute value to existence? Individual human beings are
...
The critique offered, in plain English, says that it is hypothetically possible to replace each and every last thinking, valuing human being on the planet with a computer that simulates him perfectly.</>
I think you lost something there. The critique doesn't say anything about computers or humans, just calculators.