The “fact” of rain
Social Agreement v. objective facts/information Professor Reed writes on his blog. “Facts are independently testable and verifiable, with truth independent
Read MoreProductive Knowledge
‘Tis done!
Done with my LTMA course. Good or bad, is for my students to say in their evaluations but it was
Read MoreShorter Simplified version
Keynes thought it would be ‘splendid’ if economists became more like dentists. Disciplinary economics
has instead become more like physics in focusing on concise, universal propositions verified
through decisive tests. This focus, I argue, limits the practical utility of the discipline because universal
propositions form only a part of new policy recipes. I further suggest that, as in engineering and
medicine, developing economic recipes requires eclectic combinations of suggestive tests and
judgement. Additionally, I offer a detailed example of how a simulation model can help evaluate
new policy combinations that affect the screening of loan applications.
May or may not help, but can’t hurt.
Long ago, when I had a persistent cold, my father had taught me the yogic practice of ‘jala neti.’ So
Read MoreProductive Knowledge and the Social Sciences — Some Pragmatic Ruminations
The most that ‘scientific consensus’ can realistically expect is some kind of ‘abductive’ generalization: the “best” explanation for the widest possible phenomena. And I’m skeptical that without intellectual bullying such a consensus is possible…. The alternative ‘pragmatic’ enterprise (in the William James sense) looks for whats useful rather than what’s universally true. …social scientists have something to bring to the pragmatist’s table: more suggestive tools and heuristics for their selection and use. It would be a pity if this were lost in a dogmatic striving for the “best” model and approach
Read MoreThe Plague in Pepys’s London
Email from a distinguished, very thoughtful, and classically educated, pillar of the UK establishment concludes: “Meanwhile I send you our
Read MoreTo what end Heterodoxy? (Hayek Seminar at LSE)
I’m privileged to participate in a seminar (with far more distinguished scholars than I) with diverse views and research agendas
Read MoreConflating Convenience with Correctness
My email and facebook feed is filled with pictures and videos of exponential growth functions. The flood originates, I
Read MoreHow reliable does a test need to be in order to be used for screening?
A pro-screening friend posed this question — in response to my strong objections to mass screening. To which I replied:
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