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27 sats \ 1 reply \ @0xIlmari 16 Apr \ on: What Would Carl Menger Think Of Bitcoin? libertarian
He wasn't wrong in that economics is not unlike a living organism and therefore difficult to describe. But concluding from that that mathematics as a tool should be discarded is a mistake. He was just born too early and maybe didn't anticipate the tools that were to be invented in the future, such as:
  • Chaos theory
  • Modern econometrics and financial engineering
  • Entirely new branches of mathematics (like stochastic processes) to describe and solve some of the problems
  • Computers to allow assist in solving and simulating
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0 sats \ 0 replies \ @telcobert 31 May
Over and above these points the statement that it cannot be calculated with certainty is entirely different to saying that nothing should be calculated. Even then.
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