VoiceOfRa comments on Open Thread - Aug 24 - Aug 30 - Less Wrong Discussion
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This part is not quite accurate. Actually, the commonly used theories of arithmetic (and sets) have infinitely many axioms. The actually problem with your approach above is that the theory still won't be able to prove its own consistency since any proof can only use finitely many of the axioms. One can of course add an additional axiom and keep going using transfinite induction, but now one will finally run into a theory that a Turing machine can't analyze.