FROP etc

Michael Perelman michael at ecst.csuchico.edu
Fri Feb 18 07:46:19 PST 2000


Laibman might be right given in terms of what is needed to persuade economists.

Milton Friedman also rejects any facts that do not confirm his theory.

Reder, Melvin W. 1982. "Chicago Economics: Permanence and Change." Journal of Economic Literature, 20: 1 (March): pp. 1-38. 13: // McCloskey: "Any apparent inconsistency of empirical findings with implications of the theory, or report of behavior not implied by the theory, is interpreted as anomalous and requiring one of the following actions: (i) re-examination of the data to reverse the anomalous finding; (ii) redefinition and/or augmentation of the variables in the model...; (iii) alteration of the theory to accommodate behavior inconsistent with the postulates of rationality ... (iv) placing the finding on the research agenda as a researchability anomaly." Chicago tends to shun iii. 18: The major objective is to convert non economists to their way of thinking. 19: "However imaginative, answers that violate any maintained hypothesis of the paradigm, are penalized as evincing failure to absorb training." 20: ""Explanation" means either a demonstration that the phenomenon is compatible with the underlying theory, or the provision of such extensions of the theory as may be required."

James Farmelant wrote:


> As Justin I am sure is well aware, Einstein never regarded those
> empirical tests as being in themselves decisive for assessing the
> validity of relativity theory. That is relativity theory's passing
> of those tests was for him simply one factor is assessing
> the theory's soundness. At least as important for him was
> the theory's parsimoniousness in explaining physical phenomena.
>

-- Michael Perelman Economics Department California State University Chico, CA 95929

Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu



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