Three Levels of Mistake
There are three levels of logic to do economic research: theory, model, and econometrics. Model and econometrics are formatted by mathematics to fit in the theory. They could be good tools, but too easy to misleading. Because it is very difficult to develop a model with exact economic logic to fit in a theory fully, and estimate a econometric model perfectly fitted into the model's logic.
Method, Methodology and Science
The method and methodology are different. What makes economics a kind of science is the methodology. Not the method. Then what is it for, to put so many mathematical things into economics? Maybe because it is so easy to study mathematics for some people, and it is too difficult to read and understand mathematics for other people.
Econometrics makes things worse. It is so difficult to totally understand it, which is supposed to fit in a model, which also need to fully fit in an economic theory. Therefore, most of the research with empirical part are junk.
It's politics
So what are those economists doing there? I think they just fall into a political battle (remember M.Friedman said it is difficult to identify the difference of economics and politics? He is dam right). Economics is the name of a industry now. There are all kind of need in the society. Politicians is good and big buyer, for example. There are competition too, e.g. Harvard vs. Chicago, they are two good brands and suppliers. Since they jumped in this battle, it seems economist and economics will never win out of the battle. What a terrible!
There are three levels of logic to do economic research: theory, model, and econometrics. Model and econometrics are formatted by mathematics to fit in the theory. They could be good tools, but too easy to misleading. Because it is very difficult to develop a model with exact economic logic to fit in a theory fully, and estimate a econometric model perfectly fitted into the model's logic.
Method, Methodology and Science
The method and methodology are different. What makes economics a kind of science is the methodology. Not the method. Then what is it for, to put so many mathematical things into economics? Maybe because it is so easy to study mathematics for some people, and it is too difficult to read and understand mathematics for other people.
Econometrics makes things worse. It is so difficult to totally understand it, which is supposed to fit in a model, which also need to fully fit in an economic theory. Therefore, most of the research with empirical part are junk.
It's politics
So what are those economists doing there? I think they just fall into a political battle (remember M.Friedman said it is difficult to identify the difference of economics and politics? He is dam right). Economics is the name of a industry now. There are all kind of need in the society. Politicians is good and big buyer, for example. There are competition too, e.g. Harvard vs. Chicago, they are two good brands and suppliers. Since they jumped in this battle, it seems economist and economics will never win out of the battle. What a terrible!
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