Re: Fw: Epistemology & Economics

["Gunnar Tomasson" <tomasson@xxxxxxxx>]

Henry:

Re. the following:

> There are similarities between economics and astro-physics.  Both branches
of
> science try to deal with comprehensive systems and their externalities on
which
> the reserchers has pitifully inadequate data.  Even the basic overview or
> conceptual framework of the systems under study are unknown and possibly
> unknowable.  Both the basic driving forces and the rules governing these
forces
> are haphazardly identified and poorly understood, with available knowledge
on
> them valid only if the asummptions and defintions are not challenged.
Validity
> of governing laws are geneally achieved by narrowing the definition of the
> boudaries.
>
> Yet it does not mean that scientific approaches and mathematical logic are
not
> useful in advancing human undrstanding in these fields. As you know, there
is
> now a whole science and a vast field of mathematics to deal precisely with
the
> problem of uncertainties and boudaryless problem.  Knowing the unknowable
is in
> fact very serious business.

As long-time "amateur" - thank goodness! - student of the epistemological
aspects of astro-physics, I have come to appreciate deeply the essential
truth of David Hume's comments to the effect that, while Newton "seemed to
draw the veil" from some secrets of nature, his work reaffirmed their place
"in that obscurity in which they ever did and ever will remain" - I am on
vacation as I write this and quote this from memory.

Einstein expressed the like view in a letter to a friend written in August
1954 - again, I quote from memory, but the substance of what follows mirrors
the essence of Einstein's view:

"I concede, that it is quite possible that physics cannot be based on the
field concept - that is to say, on the concept of continuity.  If that is
so, then next to nothing will remain of my castle in the air, including the
theory of gravitation [General Relativity - insert GT] as well as most of
modern physics."

So, when you say "that scientific approaches and mathematical logic are
[...] useful in advancing human understanding in these fields", I (a) agree
in the everyday sense of the concepts of "scientific approaches and
mathematical logic", where "success" or "failure" is viewed from an
OPERATIONAL angle, and (b) disagree insofar as our KNOWLEDGE in the Humean
sense thereof is concerned.

Gunnar