blogospheroid comments on For progress to be by accumulation and not by random walk, read great books - Less Wrong

35 Post author: MichaelVassar 02 March 2010 08:11AM

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Comment author: TrevinPeterson 02 March 2010 07:15:56PM 3 points [-]

progress means replacing one pile of sludge with another fashionable sludge-pile of similar quality.

The methods available to test these various hypotheses seem to have more of an impact on their prominence, than any objective measure of truth. Classical mechanics conformed to observations and could be confirmed by various tests. This led to widespread adoption until, observations were be made that did not fit the theories. Often the theories are available and cover various possible outcomes, all justified by the intuition offered by the current, yet untestable, theories.

This is where the social sciences run into difficulty. Predictions made by the social sciences are confirmed or disproved by the available methods of verification, at the time the predictions are made. These methods of verification evolve at a slower rate than the theories, and are always limited by the dynamic nature of human actors in large groups. Even if we could determine the utility function for everyone in the world, by the time that utility function had been applied and used to test various SS theories, they would have already changed.

It is unlikely that the LHC will produce results, not yet predicted by various physicists. When it does produce results, some thoeries will be proved and some will be disproved. The confirmation of the correct theory, however, is more valuable than 100 potentially correct yet untestable theories.

Mathematics has evolved quickly, for the same reasons that language has evolved, it is testable in its immediate ability to express and be understood. It has a very clean and objective measurement of success.

Comment author: blogospheroid 03 March 2010 10:17:55AM 1 point [-]

Bingo!

Economics suffers from a problem that it is the art of the royal economic advisor. Almost all radical economic advice suffers from a problem that only a very strong sovereign would be able to implement the same. In real life, almost every economic measure would be half-diluted by the time the rubber hit the road.

That doesn't mean that the field has no advances. One might have to push and prod around a little to get progress in the direction sought.

For advancing the art of value creation, one can easily identify insights from economics that can be used.