Sunday, October 16, 2011

Good Article About The Methodology Of Economics

"John" at the "money life reason" blog has written a really good article about the proper methodology of economics, arguing against the mathematical/instrumentalist approach that for example Milton Friedman has advocated, a subject more relevant than ever after the unfortunate awarding of a Nobel prize in economics for the creation of misleading mathematical models.

The article is quite long, but is definitely worth the time it takes to read it, so read it here.

1 Comments:

Blogger John said...

Thank you for these kind words.
Upon skimming the article I have noticed an irritable number of typos, I will upload an edited version later today.
I would also like to remark that this blog is a perfect example of the fact that the use of verbal logic to induce economic relationships from quantitative data is the most fruitful method of economic analysis.
Keep the good work coming,
many thanks,

John

3:01 PM  

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