Is economics a science? even more, is it for humans?

in #science7 years ago

I was Reading an interesting article about science and economics “Science reinvents the economy: The human factor”. I was lead to this by something I read considering economics theory, a long time ago, that I forgot in between my academic’s activities, the behavioral economics.
It is worth to say, that I am a physicist, not trained in economics, we may say I am more like an enthusiast.
The first thing I found in my own experience is that the mathematics involve in economy are not as complex as some “media economist” tell us. The programming involve in traditional economics is straightforward but requires considering lots of variables, that is perhaps the real complication.
Then, the question arises. As a person of science (or a least who effort to make science) economics seems to have more “assumed” controversial statements, than any physical theory I know, the “person” that is an actor in economy is so perfectly rational; even more, economics is not summited to an experimental scrutiny, to check if works or not before it is applied into policies. That makes it not a good candidate to be a traditional or explicit empirical science. In physics, we are going deeper and deeper, and testing as far as we can our hypothesis, I would expect that from a discipline that is so immediately relevant to our lives!. Perhaps I just need to go deeper.
Anyway, going back to behavioral economics - which broadly is economics after considering the psychological factor- psychology is not an exact discipline, in the sense of mathematics and physics, furthermore, the experiments are far more complex and have less accuracy, for example, a measure of the levels of happiness or well-being in a society implies that the mere question about happiness jams the “real” result. This because of the psychological nature of human beings and his attention.
After reaching this point, about we being humans, It is surprising to me that on the large scale policy application of economics measures of the last century, so little has been said or made considering the human factor, it was take into account of course, but mostly in marketing and sales, but not as how the well-being of us, humans! have a relevant impact on decision making, consuming, better disposition to pay taxes, to ensure our lives, the very engine of societies… this puzzles me… However, I just want to share my concerns with you.
I mean, our attention deserves attention.
Hope this gives somethings to reflect about.

In case you are interested, this is the link where I started about this.
https://www.newscientist.com/article/mg20227111-800-science-reinvents-the-economy-the-human-factor/

Best of lucks!

Sort:  

Congratulations @nelsonb! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Quarter Finals - Day 2


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @nelsonb! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.27
TRX 0.21
JST 0.038
BTC 96978.60
ETH 3697.93
USDT 1.00
SBD 3.87