"It seems to me that this failure of the economists to guide policy more successfully is closely connected with their propensity to imitate as closely as possible the procedures of the brilliantly successful physical sciences - an attempt which in our field may lead to outright error. It is an approach which has come to be described as the 'scientistic' attitude - an attitude which, as I defined it some thirty years ago, 'is decidedly unscientific in the true sense of the word, since it involves a mechanical and uncritical application of habits of thought to fields different from those in which they have been formed.' "And so I've never argued my economic system, or my world in fact, is anything like the real world, simply because it is complicated and bears a similiarity to it. I am not a simulationist. I'm merely trying to give the best possible experience to my players by creating the most open system imaginable, and I'm using numbers and templates from the real world because that is easier to do than making everything from scratch.
Tuesday, March 5, 2013
Not, In Fact, A Duck
If we want to talk about something, and have a valuable discussion that can shoot off in any direction, let's have a shot at the below quote from Friedrich Hayek ... because when I hear some miscreant without an education shooting his or her mouth off about supply and demand, I find myself thinking along the lines of Hayek below. Someone just recently brought this to my attention, and I think it is dead on. It's from the lecture Hayek gave upon winning the Nobel Prize for Economics: