>On Aug 22, 2004, at 10:43 AM, Charles Brown wrote:
>
>>Isn't practice the ultimate test of whether theory is true ? Isn't theory
>>the means and practice the end ?
>
>Not, apparently, to a lot of self-named "theorists," since their
>theories, as far as I can see, have no practical relevance whatever.
>(If the non-initiated can't even understand what they're talking
>about, how can their theories be tested in practice?)
At a seminar several years ago, when I tried to refute efficient market theory with empirical evidence, David Laibman, editor of Science & Society, informed me that you can't refute a theory with evidence, but only with another theory.
Doug