Monday, March 23, 2015

Economics, Science, Experimentalism

A shared ambition of Smith and Marx is, inspired by Newton, the concept of Economics as a Science, in particular, as applied Physics. But, Marx's concept of Physics diverges from Smith's--that of the latter, following Hume, is Associative, while that of the former, influenced by Hegel, is Dialectical, as is, arguably, Smith's Invisible Hand. So, given a model of presumed 'natural' events as their shared prototype, the dogmatism of each subsequent tradition may not be surprising. However, the impressiveness of Newton's achievement tends to obscure a more fundamental feature of modern systematic Physics, the manifestation of which predates not only Newton, but Cartesian Rationalism and Lockeian Empiricism, as well--the pioneering codification of Experimentalism by Bacon. So, if modern Economics, of any variety, were true to the ambition of being accepted as a 'Science', the dogmatism that has been responsible for much of the militarism of the past two centuries would be shared.

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