Re: Interesting Take on Modeling

[Jim Devine <jdevine03@xxxxxxxxx>]

On 2/22/07, Ted Winslow <egwinslow@xxxxxxxxxx> wrote:
> ... the ontological fact of "internal
> relations" limits the applicability of axiomatic deductive reasoning
> in general and "mathematical" reasoining (including mathematical
> modeling) in particular.

there are at least two attitudes toward modeling in economics (i.e.,
the idealization of empirical reality involving abstraction from
real-world details and/or the use of axiomatic or deductive reasoning)
. The two I think of immediately are:

1) there are _no_ limits to modeling as a strategy for understanding,
explaining, and/or predicting phenomena in the real world.

2) there are _a lot of_ limits to this strategy, but it might have
some positive effects in clarifying our understanding of the real
world.

I don't think anyone believes in the first view (unless they haven't
thought about these issues at all). Most serious economists would
favor the second view. Ted's comment attacks the first view, but I
don't think there will be any defenders (on this list, at least). #1
seems a straw-economist view.
--
Jim Devine / "The truth is more important than the facts." -- Frank Lloyd Wright