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You get a 4 for quoting Veblen.  I don't think we're in as much disagreement about this, after all.

However, a lot has changed in the field since him, even if his critique still has validity.  Heckman, for example, has re-focused much of what is considered economic inquiry precisely to question of cause and effect based on observables.  However, the primary focus of social science remains on what one can deduce about unobservables -- justice, well-being, inherent traits -- from observable data.  This differs from much work in natural science in one way very little: even if a phenomenon is unobservable to human senses, it's presence can be deduced from theory and observation of what can be observed.  However, the key difference in social science are that the unobservable components are dependent upon social contexts, which are not the case in most questions of natural science.

Anyway, Migeru has warned me to not discuss this anymore in this thread.  Good discussion.

by santiago on Mon Jun 15th, 2009 at 03:43:46 PM EST
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No, I have suggested that the discussion be taken to its own diary because it is meaty enough (and tangential enough to the present diary).

The brainless should not be in banking. — Willem Buiter
by Migeru (migeru at eurotrib dot com) on Mon Jun 15th, 2009 at 04:11:12 PM EST
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