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"It is only knowledge produced with difficulty that we truly value…
"It is only knowledge produced with difficulty that we truly value."
What is difficulty? What is value?
Can ask what "truth" is in Economics
This is different to natural sciences (being a social science)
But we still observe
We still collect results
We analyse knowledge
We cannot control observations in laboratories as in natural sciences? Does this make it less valuable?
Deals with observation of human behaviour
But still about our "knowledge of reality
Knowledge of facts and statistics (GDP growth etc) that is reported
But then we value the discussion and the meaning of the "facts". Why? Comparisons between countries?
BUT is data accurate?
Need to ask questions - type of Government, accuracy of data, political interference.
If the basis for the claim is unreliable, then it needs to be questioned
Is it a good or a bad basis for the claim to be presented. Economics promote questioning claims
Is GDP Equitable?
Is the way we collect data fair? Meaningful?
Statistics tell us one thing (Gini coefficient, Unemployment rate) which is (fairly) easy to obtain but it is meaningless on its own unless analysed. Therefore "produced with difficulty"?
This involves studying human interaction
Methodology of Economics is important to consider - positive and normative economics / why we study human behaviour