Replicable experimentation on economic questions is also impossible. The objects of study of the natural sciences are the structure and behavior of the physical world. It is assumed at the outset that these are regular, that their properties can be isolated and observed by repeatable experimentation, and that they can be appropriately and fully modeled with mathematics. It is fundamental to the intellectual enterprise that the sole and entire purpose of this methodology is to rigorously pin down causation. In the physical world, what causes what else? Why do things happen exactly and only the way they do? But the objects of study of the social sciences are the ideas and actions of humans, which are immeasurable and non-quantifiable. Experimentation with ill-defined units of irregular phenomena cannot yield comparable and reproducible results, and so experimentation will fail to produce quantitative laws because there are no units in which these laws can be expressed. Without measurement and repeatable experimentation, it is not possible to find regularities, derive constants, and formulate mathematical relationships and scientific laws. Accurate experiments in economics are also not possible because the subject of economics is the action of humans in the real world, and conditions in testing laboratories cannot replicate the real-world consequences of economic decisions. The real world is the only laboratory that can approximate the real conditions shaping economic decision-making, but it is impossible to experiment on the real world using scientific methods such as those employed in the natural sciences.
- nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak