Tuesday, July 01, 2008

Empirical Economics Is Locked Into ‘Selfishness.’

As the saying goes: You reap what you sow.

Empirical economics has tried to be ‘scientific’ by removing all non-predictable elements. This is perfectly valid for the natural sciences but it is an illusion and an unfortunate sign of a lack of intelligent perception. There is nothing scientific about removing humans from the human sciences!

To stay true to this erroneous methodology (erroneous for the human sciences but not for the natural sciences) the empiricists collect data and then interpret their data. As part of their explanation of the trends they conclude that humans act selfishly. Humans choose what they perceive to be in their best interests.

Selfishness is one way of describing such a pattern but so is subjectivity. The empirical economists cannot acknowledge subjectivism because that undermines their empiricism. They are entrenched, locked into selfishness.

As a result they pin the label ‘selfishness’ on humans and this leads to all kinds of perverse outcomes. For instance, how can anyone imagine that laissez-faire can be good if, when left alone, people will act selfishly. Empiricists come to the conclusion that the government is necessary to keep people from acting in such a degraded state of mind - selfishness!

These perversities that result from empiricism would simply not exist if the proper methodology was used for economics. It is a human science, a social science, and the appropriate methodology is subjectivism. People make choices subjectively. Everyone does it. A person can only make decisions based on knowledge of one’s own self. How could it be otherwise?

Under subjectivism laissez-faire is obviously an expression of freedom - which is conducive to prosperity. This is the economic methodology that treats humans as humans and acknowledges natural law by recognizing that humans are subjective beings.

Economic empiricists sow seeds of false pretenses and reap economies that are rigid and easily subject to corruption. Ironically those who are the source of the corruption are the ego-driven interventionists who are indeed ‘selfish!!!!!’

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