Before you start reading this post, or wish to respond to it:
Grab a glass of water, and find a comfy chair.
Now, consider the differences between the area called Psyco-economics (not sure of the correct english term, perhaps Behavioral finance...) which is the study of economics with the use of using psychology, and the area called Economics.
Pseudo-science :
http://en.wikipedia.org/wiki/Pseudoscience
And here comes the big wall of text!
Originally Posted by
ImmortalCow
Examining the difference between primal and modern humans? Even in primal humans a mate must be chosen by some criteria. An indigenous species of Australian birds called the 'bower bird' builds nests to attract mates. While these birds do not have the cognitive abilities to perform introspective studies, one could say that principles of economics do exist even in nature. When you look at territory owned by magpies then it's obvious that a concept of 'wealth' does exist in nature.
Thus our dependence on wealth abstraction as opposed to material wealth is not particularly relevant.
Please, can't you listen to your own words now, or is it that you have redefined/defined material already in your mind and for some reason do not wish to share this with the rest of us, and could you give a reason to why you choose to stick with this definition?
Originally Posted by
ImmortalCow
Look up "purchasing power parity"
It's a central concept to this discussion as it explains the relative value between currencies that not only have the power to purchase each other, but in what geographical areas. It will help you understand the context that currency exists in.
Let me remind you, it is nothing more than a theory, even in the circles of mankind where economics is considered a science and not a psuedo-science...
However, I accept you believing in economics, and that you view it as a science. I see it as a social science, one that stands in the crowd with history and psychology.
BUT: I must ask the question, why do you oppose deprav when he clearly states what he means is a necessity in order to label a branch of philosophy and theories on an area to become a science?
Would the study of poop classify as a science, or the study of the phenomena known as "ignorance is bliss"?
Moving on one step we can then conclude that objectivity is not what we are discussing at all, rather the opposite, as you agreed on:
Originally Posted by
ImmortalCow
Worth is established merely by being trade-able.
Credit is not concrete, it is merely agreed on. In any trade you essentially agree that the value is fair.
So, if I do not trade, does that mean that my property is worthless or that they have an infinite worth? They stand outside of your world of trade, are they non-existent in your world then?
If I refuse to adhere to your credit, but I trade wit someone who in the majority of this world have/carry a lower creditability than you, if I decide to only give you an unfair price on that bottle of water when I give it away for free to the one beside you, then what is the credit?
- Notice the use of the word credit in this sentence; am I discussing creditability, or "the other" form of credit? What If we start using creditability when we mean creditability?
Originally Posted by
deprav
I did just look it up, it's still "technical giberish to justify/explain some absurd concepts human mind created under the influence of abstract auto-suggested needs we developped in a society disconnected from reality" ;p Economics ain't a science obeying to natural laws, it's a science WE made and defined and which we now follow the rules as they were immuable truth... Economics is a belief.
As deprav then moved on; Most theories that are not natural laws are just "jibberish", they can be changed over a day, and as such in difference to the natural sciences, they are psuedo-science as they only apply in the fix moment of when they where written and as such only function on the selection of both time and space studied and described...
Originally Posted by
ImmortalCow
Economics is not a 21st century invention, and it has never been regarded as demon-science. If I explained these concepts to someone 1000 years ago they would probably understand.
International trade has existed for thousands of years (there exists evidence from 4000 years ago, for example - and I doubt that is the earliest).
The idea that currency can be compared by the price of common goods is a very simple one.
You pretty much agree with deprav that it is a Pseudo-science, just like saying that just cause the one gas; methane, is flammable, all gases are flammable... Now, in science, you would if you want to describe the conditions of this exothermic reaction state what circumstances you need in order to set it ablaze, however economic theories have yet to develop to the level where we can bind it into reality.
If you ask me, an deprav I believe, we both argue and hope you will accept that we are not wrong in believing: that it is a Pseudo-science, by our definition: not a science.
Yep, I said it right there "...it's a science WE made...", i.e not obeying to natural laws, like physics, or chemistry etc... because it's the study of a concept WE invented (i.e money)
Originally Posted by
Turtlenecks
False dichotomy. Science and belief are not direct opposites (it's not 'one or the other'). You have a incomplete understanding of both concepts. I'll break it down for you so you don't have to do much additional reading.
Christianity is my new science, comprende'?
"The study of the person called Turtlenecks, turtleneckology, is my new science, comprende'?
Originally Posted by
ImmortalCow
The concept of 'value' is as much a part of human identity as 'humanity' itself is.
A good answer to the question in the first post!
However, you went on and shot yourself in the foot:
Originally Posted by
ImmortalCow
Value means value. Currency is merely one measure of value.
Moral values? Are they nor values, or valuable assets?
Originally Posted by
ImmortalCow
Your arguments are completely invalid and you just hand-wave away the entire field of economics...
You just hand-wave away any value that is not in the form of coin...
Originally Posted by
ImmortalCow
I think you don't understand the concept of value,
The use of basic economics,
Originally Posted by
ImmortalCow
probably evolution as well, plus you seem to subscribe to some pretty out there theories.
Right back at you, I believe Economics to be a Pseudo-science
Originally Posted by
ImmortalCow
Economics is more reliable on a macro scale than psychology, so even if you can explain things in terms of psychology it's not useful.
(Note, somehow you managed to get me pissed, hence the reason why I had to leave the computer in order to come back and finnish the post, GJ!)
Economics is nothing without psychology. It could in theory be the study of supply and demand, and some very basic principles, but without psychology its as worthless as a religious person using the bible as a reference when arguing a point.
Originally Posted by
ImmortalCow
The scientific proses is very trustworthy.
No. No. No. No. No. No. No. No. No. No.
It's called a psuedo-science for a reason.
Originally Posted by
ImmortalCow
So long as we can compare things, economics will exist. Economics is not the study of currency.
And it will still be a psuedo-science.
Originally Posted by
Skolfe
Do you think that the use of a Fiat Currency [(money that's only worth what people believe it to be)] could substantially impact the value of actual worthwhile material?
Sorry Skolfe, I do believe we deviate a bit from what you wished to discuss...