Science is measurement, yet not all sciences can be evaluated using the same measurement

Vlad Nerău
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Vlad Nerău: The Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2017, vol. XXIV, issue 2(611), Summer, 161-170

Abstract: The purpose of this paper is to investigate if in Economics may take place the same type of “Darwinian Competition” that occurs in Natural Sciences and through which theories are permanently removed. Starting from how measurement, tool development and the establishment of the experiment as a research method, led to significant progress in natural science we demonstrate that the same assumptions for reducing the complexity of reality and the ontological universalism hypothesis cannot be used in Economics. The consequence of not being able to use the same methodological tools is that economics has to be content with the use of statistical laws, which merely allow the prediction of “empirical regularities” in comparison with the precision of natural sciences laws.

Keywords: equilibrium; experiment; measurement; ontological universalism; Darwinian Competition. (search for similar items in EconPapers)
Date: 2017
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