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Saturday, June 06, 2015

'A Crisis at the Edge of Physics'

Seems like much the same can be said about modern macroeconomics (except perhaps the "given the field its credibility" part):

A Crisis at the Edge of Physics, by Adam Frank and Marcelo Gleiser, NY Times: Do physicists need empirical evidence to confirm their theories?
You may think that the answer is an obvious yes, experimental confirmation being the very heart of science. But a growing controversy at the frontiers of physics and cosmology suggests that the situation is not so simple.
A few months ago in the journal Nature, two leading researchers, George Ellis and Joseph Silk, published a controversial piece called “Scientific Method: Defend the Integrity of Physics.” They criticized a newfound willingness among some scientists to explicitly set aside the need for experimental confirmation of today’s most ambitious cosmic theories — so long as those theories are “sufficiently elegant and explanatory.” Despite working at the cutting edge of knowledge, such scientists are, for Professors Ellis and Silk, “breaking with centuries of philosophical tradition of defining scientific knowledge as empirical.”
Whether or not you agree with them, the professors have identified a mounting concern in fundamental physics: Today, our most ambitious science can seem at odds with the empirical methodology that has historically given the field its credibility. ...

    Posted by on Saturday, June 6, 2015 at 10:58 AM in Econometrics, Economics, Macroeconomics, Methodology | Permalink  Comments (22)


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