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Mathematics

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solon posted on Tue, Mar 24 2009 4:11 PM

Maybe some Austrians might be interested in a "fresh start" from an empirical point of view with Alfred Marshal as the basis (the inventor of supply and demand). He insisted that logic and mathematics are inseparable (and also saw mathematics as potentially redundant but useful for thinking and prediction).

 "(1) Use mathematics as shorthand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real life (5) Burn the mathematics. (6) If you can’t succeed in 4, burn 3. This I do often."

Empiricism rules since Newton, so some sort of model for human action may be necessary for the Austrian school to ever become mainstream.

 

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solon:

Maybe some Austrians might be interested in a "fresh start" from an empirical point of view with Alfred Marshal as the basis (the inventor of supply and demand).

Adam Smith, David Ricardo, and Karl Marx made use of the term "supply and demand" years before Marshall was even born. The only thing that Marshall did was draw two lines and set an abritrary "equilibrium point" which does not exist in real markets.

He insisted that logic and mathematics are inseparable (and also saw mathematics as potentially redundant but useful for thinking and prediction).

Mathematics is a subsection of logic. How verbal logic is inseperable from mathematics when it comes to subjects which require no advanced mathematics is beyond me.

Empiricism rules since Newton, so some sort of model for human action may be necessary for the Austrian school to ever become mainstream.

Empiricism the way you describe it is a self defeating proposition in social sciences. The idea that you can take past experiences that are not controlled for various factors (it's impossible to control "experiments" in social sciences), form them into theories, and then apply those theories to future events is just plainly absurd.

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ecoli:
And how is that proof that human action can't be modeled?

did i say it was? but then im sure i dont quite know what you mean when you say 'human action can be modeled', particularly if you think mathematical form would be superior to linguistic form

Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid

Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring

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TIME!!!!

You caught me, I didn't really think that one through

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haha time!

i can usually remember to put it in arguments,

but time defeats me in real life, never enough time !!!

Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid

Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring

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ecoli:
I don't see what the problem is.  Besides for the fact that transitive modeling is possible

Um, what my proof demonstated is that preference is necessarily transitive.

ecoli:
the point of modeling isn't to describe an individuals preferences but the outcome of many people with different preferences.

Well, since krazy kaju made a (false) assertion about individual preference, to which scineram responded with a correction, to which you posted a comment expressing uncertainty about his claim, I thought that I would explain plainly (at least I thought I was being plain, until I read yours and MatthewF's responses) scineram's claim, which, you know, kinda necessitates that I stay on the sub-topic the three of you had established, viz. individual preference.  Make sense?

Diminishing Marginal Utility - IT'S THE LAW!

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MatthewF:
The problem is that preferences in action are based on value, and value is subjective.

The problem here is that this is exactly what ecoli had said. *rolls eyes*

Technically, preference is an ordering on the subjective valuations of predicted outcomes resulting from possible actions.  If this ordering is cyclic then there is no most preferred outcome, which implies there can be no action.

'Subjective' does NOT mean 'impervious to logic'.

Diminishing Marginal Utility - IT'S THE LAW!

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